Today’s post highlights a tool called Planwise, which lets you understand the impact of your financial decisions. It’s free to use, and I’m not earning anything by recommending it. Whether you’re buying a home, purchasing a car, paying off debt, or receiving a raise, you can see how these changes will affect your future finances. Emily provides more details below on how you can use Planwise to avoid many common money mistakes.
With Planwise, you can input your current income, savings, and future financial plans. The tool was created to address a frequent error in personal finance: making decisions without considering their long-term effects. Instead of deciding impulsively and regretting it later, you can plan thoroughly to minimize financial stress and make life more manageable.
Here’s how it works: Start by entering your current finances, including monthly expenses and income. Planwise then generates a cash flow graph showing your monthly bank balance. The tool includes over 15 smart alerts that can activate at this stage. These alerts look 30 years ahead to pinpoint information about your planned finances, helping you make smarter, less risky decisions. They also suggest actions that could save you money, including calculating the potential savings.
Next, add your future plans, such as buying a house or experiencing a job loss. Once these plans are entered, Planwise will project your future finances. You can then check the smart alerts again to refine your plans and save money. The tool offers multiple graphs to help you understand your plans fully, showing cash at bank, net income, and debt profiles. You can customize these graphs to any timeframe, up to 30 years into the future.
You can save all your information in Planwise or use it anonymously. It’s always free and straightforward to use. Plus, it can be embedded into any third-party site, making it accessible to more people while retaining traffic to your site.
Planning your future finances doesn’t have to be stressful. There’s a lot to look forward to when you plan ahead. Gain confidence and knowledge in your financial decisions. Try the tool today.
This post was written by Emily Gladders from the Marketing team at Planwise. Discover more about the author and the company at www.planwise.com.