Managing Your Finances with Personal Capital

Jeremy BiberdorfBy: Jeremy Biberdorf

April 6, 2016April 6, 2016

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With your money spread out across many different accounts, keeping track of it can be a challenge. In fact, it can sometimes feel impossible. You’re faced with the reality of being a person with a higher net worth than most people in America. But you have to keep up with it, or you could lose everything you’ve earned sooner than you might think.

Personal Capital is designed to help you manage your financial accounts by keeping them all in one place. It will generate reports that will not only let you track your finances but will also analyze your investing performance. You will even be able to track your spending, but it shouldn’t be confused with a budgeting program like Quicken. Still, it has a lot offer for people who have some savings that they need to monitor and manage carefully.

Click to Check out Personal Capital for Free.

Basic Features

Once you’ve gone through the free signup process, you will be able to link the following accounts:

  • Bank accounts
  • Loans
  • Mortgages
  • Credit cards

You will also be able to set up any investments you might have, such as mutual funds and ETF’s. While it’s free to manage bank accounts, credit cards, and other financial accounts, it does cost money for Personal Capital to manage your investment portfolio.

They make it easy to monitor your net worth by consolidating all of your accounts into one report, and it will automatically send you a reminder if there are any updates. This will help you keep an eye on your money, as you’ll have a better idea of where it’s going. They even have a Tax Analyzer that will help you find ways to lower your taxes at the end of the year. This includes any “tax loss harvesting” for any investments you have linked to your account.

Financial Planning

Another great thing about Personal Capital is that it has a team of financial planners that can give you advice to help you build an investment strategy to reach your goals, but this service is not available to everyone. You previously had to have a net worth of at least $100,000 before you can be considered, but they have recently reduced that to $25,000. Still, having access to this service can be a huge advantage.

Even if you don’t have $25,000 in the bank Personal Capital gives you some great information to help you get started. They have a series of courses that can help you learn about different investment tips and strategies. This can be helpful and of interest to you if you’re young or new to the market.

Bear in mind that it will cost money to have Personal Capital manage your portfolio, but they will help you manage any fees you have on your mutual funds or retirement accounts. This comes in handy, as it will help to maximize their performance.

Paying Bills with Personal Capital

In addition to all the great financial planning and investment tools available, Personal Capital has another great feature that’s as fundamental to someone who has cash in the bank or is more broke than Brokeback Mountain. And that is the ability to pay your bills online. You can set up automatic reminders when certain bills are due, and you can even send money to someone for free. Personal Capital will even let you deposit money into your bank account. So, in a sense, it can be your “one-stop shop” for managing your money when it comes to bill payments.


While it won’t allow you to set up a budget, Personal Capital has so much more to offer than most programs of its kind. Its ability to manage your investments – in addition to its financial management features – makes it a valuable asset to someone who has more to look after than just a checking account.

Click to Check out Personal Capital for Free.

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Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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