How we use Personal Capital to track our money

26 thoughts on “How we use Personal Capital to track our money”

    1. Thanks Brian, I agree – having everything in one place makes visibility into your money situation so much easier. I like simple things, after all. 🙂

  1. I recently started using Personal Capital and I LOVE it. I don’t know why I was resistant to the idea for so long. I still use a spreadsheet to track expenses because I like to code them in a particular way (and it makes me more likely to be really careful about my spending if I know I have to enter my purchases into a spreadsheet manually at the end of the day), but I love only having to log into one account to see everything at once.

    Also, I did not understand until now how they made money — good to know!

    1. Honestly, we were kinda resistant as well at first. I think it was because it seemed like just another web application that we’d have to sign up for and import all of our financial accounts into, and it seemed like more of a chore than anything. 🙂

  2. Thanks for sharing, I have signed up for personal capital but have not used it yet. Since I use Mint, I thought most of my needs were being covered – but I like the screen shots that you included here. They help me see some of the differences and I will try it out later this week.

    1. Sounds good – I think you’ll like PC. I was a Mint user as well, and while Mint is a very nice app, Personal Capital ups the ante a bit with the picture that it gives of your financial profile as a whole.

  3. I’ve used PC for about a year now. I love it. Only issue is their expense tracking isn’t that on point yet. So I have to due my due diligence when looking back at what I spent. Last month it counted my rent twice even though I only wrote one check… doh!

    1. Ha! Yeah, I have noticed small weirdisms too with how it records stuff and tracks it. It’s generally pretty accurate, but definitely not perfect. 🙂

  4. I love the Personal Capital tracking tools, and we actually DID talk to one of their advisers to get a pitch about using their services. Our guy seemed super savvy about all of our wacky ER particulars, including not wanting to have a lot of trades happen behind the scenes, which would cause taxable events and could mess up our Obamacare subsidies. We haven’t decided whether to go with them yet, but they certainly offered a compelling set of reasons, including better diversification and lower overall taxes than you can get with Vanguard… but with higher fees than Vanguard. My biggest frustration with PC is that USAA doesn’t link in seamlessly. So we haven’t been able to use the expense tracking as much as we’d like, because our checking account won’t load in — bummer!

    1. Yeah I remember your troubles with USAA – it did eventually work for us, but sometimes the way that these applications link to financial institutions are very, very strange. It works for some people and not for others.

      If you do end up doing business with PC, I’d be curious what your impressions are once you really start getting going with them. Might make good fodder for another blog post! 🙂

  5. Steve – Do you guys keep track of a budget (with categories) throughout the month or do you mainly just look at your overall spend? That is the one issue I have with Personal Capital right now is that it doesn’t really have a budgeting part in it like Mint.

    Currently I am using both Personal Capital and Mint but we are slowly shifting to more of a total spend budget (mainly because I hate traditional budgets) so I think Personal Capital will be a better fit. Mint can be overly buggy and has way too many intrusive ads that makes the experience less than stellar.

    1. Thias – we certainly do have budget categories that we keep track of, and while we don’t like to go “over” on a month-to-month basis, our figures are worked out primarily on a yearly basis and divided by 12 so it fits nicely into a monthly budget. Some expenditures, for example, are one-time for the year, so those months will SEEM to be negatively affected even though the spent money was accounted for in our yearly spend calculations as anticipated.

      More or less, we care mostly about total spend for the year, but use monthly budgets as a way to keep us on track throughout the year so we don’t find ourselves vastly over or under at year’s end. 🙂

    1. I like the simplicity that you get with PC the best. Very little clicking around unless you actually want to. It is very straightforward and to the point, just the way that I like it! 🙂

  6. Hey Steve, thanks sharing all of your personal using history of personal capital. It’s indeed inspiring for people to start believing in personal capital online money management platform. I’ve been using it for one year and it’s highly effective to access all of my accounts from one place.

    1. Thanks Carlos. Personal Capital really does make it easy to look over your financial situation, and it covers so much of what you need to know, from net worth down to individual budgeting. It’s great.

  7. Wow great article. Personal capital sounds amazing! I’ll be downloading it as soon as I finish writing this article. It does all the things I do already do on my own in one simplified condensed version!

  8. There are several money management apps that helps to keep the expenses in track and personal capital is one among them. But it would have been better if you have explained in layman’s language.

  9. Personal Capital is a lifesaver for me. It’s got to be the most painless and most versatile way of managing my personal finances that I’ve ever used.

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