Finance — 2 years ago

Personal Capital Finance App Review: Everything about Personal Capital Savings App!

by Goni S.

Personal Capital App Review, Personal Capital App

A Full Personal Capital App Review

With over 2 millions active users, the Personal Capital app has become one of the most popular budgeting apps in the U.S. today. The Personal Capital budgeting app is available in two versions – a free version and a pay-per version you can download to either Android devices or iOS devices. The app can be very helpful in setting and achieving financial goals, so let's dive into the Personal Capital app review to see what it's all about.

What is the Personal Capital App?

As we mentioned, the Capital Personal app has two versions; a free budgeting dashboard, and a paid-per Wealth Management tool. By using the app, you can find out how much you are spending, how much you are earning, and get the tools to discover how you can budget yourself better.

Personal Capital App Review

Personal Capital Free Financial Dashboard

The first version of the Personal Capital app is the free budgeting tool; unfortunately, the budgeting app is pretty limited when it comes to setting budgets, but it has several advantages that make it very popular. First of all, the Personal Capital free financial app provides investment tools that allow you to grow your personal wealth.

The free app operates by linking user accounts into one place they can access from wherever they are. The Personal Capital dashboard aggregates information from user accounts, including savings, investments, checking, loans, credit cards, and more. When you register for the app, you will be required to provide your accounting information, and afterward, the app will begin to gather information and build your dashboard.

Personal Capital App

The budgeting tool can help you keep track of your income, expenses, and overall cash flow. To that end, you will receive monthly summaries that will let you know exactly how much you spend. The free budgeting dashboard is very handy for those who need to get their expenses under check. So, if you need to link your financial accounts, like your saving and credit accounts, the Personal Capital free budgeting dashboard is perfect for you.

However, you cannot use the app to pay your bills; there are other personal finance apps that let their users pay bills with their app accounts, but Personal Capital is not one of them.

The budgeting dashboard on Personal Capital also provides several analytics tools that will help you get your finances in order:

401(k) Analyzer
The 401(k) Analyzer displays how much each retirement fund costs, so you can pick the best and most suitable plan for you. By showing you how much each fund in your 401(k) is costing you and by providing you with alternative retirement plans, you will be able to choose the most cost-effective plan for you.

Personal Capital Budgeting App

Cash Flow Analyzer
The cash flow analyzer provides you with insight into your finances; by linking your accounts and financial data, you will be able to set goals for yourself and figure out how to live up to your budget with the analytics tool.

Investment Checkup
If you have investments, like your retirement plan, you can keep track of them by using the investment checkup tool. Once you enter your accounts to Personal Capital, you will be able to view your investments and see what you need to improve to get the most out of your money.

Net Worth Calculator
Personal Capital has a handy tool that can help you find out how much is your net worth. How? By tracking your liabilities and assets.

Personal Capital App Review

Personal advisor
This might seem strange, that a free app will have an advice plan, but Personal Capital is unique in that sense. If you encounter problems or have questions regarding a service, or if you are uncertain about particular financial issues, you can contact the advisors of the app. However, you need to keep in mind that you will not get answers for every question, after all, it’s the free version.

Personal Capital Wealth Management

The Wealth Management tool on Personal Wealth allows users to get financial advice by combining robo advisors and human advisors. To provide you with solid investment tools, the wealth management tool, that costs 0.89% up to $1 million (lower on higher balances). The problem is that there is a minimum of $100,000 you need to invest to be able to use the program. If you have less than that, Personal Capital wealth management is not for you.

The app determines where you should put your money by determining investment goals, risk tolerance, and timelines. The investment portfolio is managed by the app's robo and human advisors so you will get a well-rounded service when investing your money.

Personal Capital,

Personal capital app reviews

"Great app and it may come with a personal human advisor!

This app consolidated all of my accounts including different fund companies, brokerage accounts, 403 retirement accounts,401 accounts from my wife and my work companies, our trust accounts, several bank accounts, and hard assets as well.

Our loans and credit card accounts are available at a glance too. It has the SEP Roth and IRAs all noted and totaled in one easy to view layout. It helps keep track of a budget with categories (customizable) for a monthly year to date and specified time periods.

I can tell with an encrypted sign just where I stand. The planning feature for education and retirement plans is great and easy to use and modify for different scenarios. Asset allocation, as well as major holdings, are easily identified. My cash flow is easily followed all year long with the budget module. The use of the app is free and gives one a very in-depth financial snapshot at a glance.

Personal Capital also offers a financial planner if one doesn’t want to go it alone. The advisor assigned works hard to put your interests first for your own good Fiduciary rep. Vs the company or their own enrichment. You will love the app especially once you realize the value received from it." Is what one Personal Capital user had to say about the service.

This review is similar to other Personal Capital app reviews; overall, the app is very handy in planning a budget and investing your money wisely. One downside is ads and calls urging users to try the advisory services. So, if you can handle a little nagging, you should try out Personal Capital.


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