Whether you’re buying a property, a vehicle, settling debt or even getting a raise at the workplace, now it is possible to see how these kinds of financial changes will affect your future using the new web app Planwise. This financial planning tool was developed to resolve the most frequent mistakes made in personal finance. Almost all crucial financial decisions are taken before knowing the foreseeable future impact. Proper planning prior to take big decisions give secure feeling and peace of mind that life does not have to revolve round the stress of money.
Simply put, Planwise provides a quick and simple way to see how major financial events will influence your bank account in the short as well as long term.
Check out Planwise right here.
How Does Planwise Work?
Enter your present finances, month-to-month expenses, and earnings. A cash-flow graph is generated to indicate your monthly bank balance. You’ll find more than 15 smart-alerts that could be triggered as soon as this step is done.
They scan thirty years forward as well as proactively determine information regarding your structured finances that will help you make superior and/or less-risky decisions in the future. Additionally, they suggest particular actions that could help you save money, for instance, computing the $-value of taking a particular action.
Next, add your plans. Plans are generally any significant future adjustments to your financial situation. This could cover anything from investing in a new house to even losing your job. As soon as your plans are entered, the future-finances are estimated.
Look at the smart-alerts again to perfectly optimize the plans and lower your expenses. You’ll be able to know your plans fully using the multiple charts readily available. The 3 graphs indicate cash-at-bank, net-income, and debt information. Personalize the graphs to any time-frame you desire, up to 30-years down the road.
Planwise is basically set up to assist you plan for particular events in your life, for instance:
• Buying a house
• Buying a vehicle
• Paying down debt
• Selling your automobile
• Selling your property
• Getting a raise
• Losing your job
• Altering your expenditures
• Making an important purchase
• Organizing a getaway
• Obtaining a loan
• Receiving a lump sum
As your financial life get more complicated, Planwise will integrate all these events to give you a clear picture of what it all means.
Features of Planwise
• All your information is saved so if it changes, you simply update it and Planwise instantly modifies your financial picture.
• It is free
• It is secure
• It shows you financial effect on a clear and simple visual dash panel. As your report updates, the charts change in real-time as well
• Unlike several other online financial software apps, there is no need to provide your social security number or consumer banking details to use Planwise
So Why Planwise is unique?
“What people today need in a financial tool is something that provides them the ability to understand the result of decisions they’re going to make rather than what they’ve already done completely wrong,” stated Vincent Turner, the founder and CEO of Planwise.
Unlike other common personal financial-tools like Mint, the users don’t need to register or give any personal data beyond their particular finances to work with Planwise. Instead, it operates similarly to a calculator which you can use without any personal information.
Apart from planning out a person’s finances, Planwise additionally partners with a couple of other companies including ReadyForZero, a debt-reduction tool, and Lyft, a ride sharing start-up, to offer users more resources for solutions to reduce costs and satisfy financial targets.
The Bottom Line Review on Planwise
In the end, the general vision for Planwise is to:
- Give people the ability to recognize their current financial predicament
- Understand the impact on their future situation based upon any plans they may have
- Take action to avoid financial pitfalls and also to plan to save for a goal
It’s all at zero cost, while not having to possess a degree in finance and all in a few minutes each month.
Your future financial situations don’t have to be clouded in mystery with Planwise.