Best Money Tools

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We all like money. Money is essential in modern society. More accurately, finance is important. Whether you are getting rid of debt, or increasing your wealth, here are some of my favourite tools to help you improve how you manage your money.

Before you leap straight in though, can I give you a piece of advice. In my experience trying to make more money (increasing riches) is less productive than building wealth (assets minus liabilities). As such, view money as currency to accumulate assets, when considering your finances. Money is meaningless in and of itself. However, assets help you grow your wealth.

With this in mind, I recommend the following strategy to improve your wealth:

  1. Reduce your debt
  2. Reduce your costs
  3. Increase your income
  4. Increase your wealth (assets)
If you follow this simple 4 step process you will not invest money you do not have or can not afford in investments you have not understood.

 

1. Best Tools for Reducing Debt

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There are so many apps about debt and websites to check out in the UK, so here are a few. 

Please note that I have not used any of these, but wanted to share them here so it made sense with the 4 principles. Please feel free to suggest your own in the chat rooms.

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2. Best Tools for Money Savings

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Mortage Comparison Sites

One of your biggest costs is your mortgage. Better understand the interest you pay and the costs of change and review regularly. Keep an eye on the market and be ready to pay more to reduce long term risk.

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One of the biggest costs after your mortgage is your utilities. Switch to Utility Warehouse and you are likely to save money on your bill, and you can offset some of your spend against your bill too! No brainer!

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3. Best Tools for Increasing Income

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Learning is the secret to increasing your value. Continuous learning is like compound interest, it grows your value faster than inflation!

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4. Best Tools for Increasing Wealth

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I recently found this excellent Ai tool that compares thousands of metrics on US and European Shares and Funds to give you a potential probability of beating the market. Check it out.

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Most of the services we recommend we have used ourselves on paid plans. Some of them are affiliated with us too, that means we get a small commission if you click and purchase the products or services. By clicking on affiliated links you help us pay for those services and that means we can keep some of our content and resources free, and keep our prices low. It is appreciated if you are interested in those services that you click and decide if they would be good for you too.  

We have a rule never to affiliate with a product we do not use, or one we do not like. They are listed here to help you.

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