5 Apps That Will Help Tracking and Planning for Investments

04/08/2022

Photo by Nataliya Vaitkevich


By Stephanie Snyder,

Handling one’s finances tends to be a hectic affair since you do not always seem to know how or where to invest. But when you find the best investment plan, then there arises another issue, you find it hard to track and plan for your investments. It’s hard to manage your investment portfolio if you always get data from different sources. With the current technological advancements, there is no need for keeping elaborate spreadsheets anymore since there are applications that can do all that for you. An ideal application will keep track of a portfolio’s performance, asset allocation, projected future growth, and the fees charged. Here are some applications that will help you track and plan for your investments.

Morningstar

The Morningstar application requires you to manually enter all of your investments into the portfolio management tool. The management tool provides basic data on each of your investments. This data includes the current price of your investment, the daily change in value, and the overall portfolio's percentage weight. You also can pick out a portfolio that you can use to benchmark your portfolio. The instant x-ray feature allows you to see each investment your portfolio represents, especially if a mutual fund is involved. Instant Xray provides detailed information on your portfolio's asset allocation by breaking it into regions, sectors, and stock types. Morningstar’s membership includes both free and paid.

Personal capital

Personal capital is onebest investment tracking applications. It provides its users with investment tracking tools. The personal capital app requires you to link all your accounts to its dashboard; once that information is analyzed, it'll immediately import your investment information. An investment checkup tool is provided to aid in analyzing your portfolio risk while analyzing past performance and acquiring a target allocation for your portfolio. The investment checkup tool also allows you to spot overweight or underweight stocks sectors, thus assessing your diversification. The performance data offered gives you information on the fees charged by your investments and how those fees will affect you in the long run.

Yahoo finance

Yahoo is one of the top sites for news and real-time updates, offering an investment tracking platform. The Yahoo Finance app is simple to use, easily tracking your bonds, stocks, currencies, and commodities. It also offers real-time data and monitoring of your investments. You can create and track your portfolio performance and sync multiple portfolios across your devices through the portfolio tracker feature. Yahoo Finance also allows for integrations with third parties such as NinjaTrader indicators, which provide a Pro-grade trading strategy to make immediate profits.

Mint

The portfolio tracker in mint requires you to add your accounts, and the app will measure your portfolio's performance against the market's bench makers. Several features will make the whole portfolio management process easier. Features such as a fee analyzer determine the fees charged and how they will ultimately affect the growth of your portfolio. The budgeting feature is responsible for tracking your investments while budgeting and assessing your ability to pay bills while sending you alerts on your progress or any developments.

Google sheets

If you do not want to link all your accounts online because you’re worried about sharing information passwords, or the security of your investment accounts, then google sheets is the answer you are looking for. Google sheets offer one of the best ways to track and plan for your investments since you can customize them to suit your needs and designs. These options are secure since you have to manually input the data about your investments into these tools. You can also create import tools that can acquire information from the investment firm’s downloadable files. Google sheets also allow you to update or download data based on an investment ticker symbol.
Keeping track of your investment is necessary if you want to avoid being conned out of your savings. No matter which part of the world you are in, there're are many applications that can aid you in keeping track of your finances. Most are very user-friendly, and if you have any difficulty navigating them, there are always tutorials on how to use the particular app.