Create a username and password to begin building your financial dashboard through the Wealth Mode Money Manager.
Enter in your family members and their ages.
Log your household's income sources all in one place.
Keep track of how much you're saving toward retirement or other goals in each account you have.
With the Wealth Mode MONEY MANAGER, you can see your financial picture all in one place!
Use the +Link Account button to search for each financial institution you have an account with (checking, savings, 401k, IRA, credit cards, car loan, mortgage, etc). Type in the usernames and passwords of your accounts to sync it safely and securely.
You can also add property values for other assets like your home or car, and data about your insurance policies.
After linking all your accounts, your net worth will be calculated for you automatically.
Enter in your monthly living expense, excluding any mortgage or insurance payments that were linked with your accounts.
Keep track of your longer-term financial and retirement goals here! Specify at what age you want to retire and how much you want to be able to live on each month. If you want to pay for your child's college education or take an annual vacation in retirement, enter that too!
After filling out your profile information, you're now ready to access the Wealth Mode MONEY MANAGER. The financial dashboard starts by looking at your "Balance Sheet", or Net Worth Statement. This simple calculation tells you what your overall financial worth is by taking everything you OWN and subtracting everything you OWE.
The Wealth Mode MONEY MANAGER will also tell you whether you have adequate emergency reserves in place. An emergency fund or safety net is one of the first steps to living in Wealth Mode!
The most useful part of the Wealth Mode MONEY MANAGER is the budgeting and expense-tracking feature. Take control of your cash-flow!
By syncing your checking account or credit cards, this tool allows you to categorize each transaction and create budgets for spending categories.
By categorizing each transaction you can get a good idea of where your money is going.
Make a plan to tackle your debt. Create a debt snowball strategy by entering in how much extra money per month you want to throw at your debts.
The Wealth Mode MONEY MANAGER will show you how much time and money you can save by choosing to pay debts down faster.
DEBT PAYMENT SCHEDULE
You can get a detailed breakdown of your planned payment schedule for each individual debt you're trying to pay off.
The Wealth Mode MONEY MANAGER will even tell you what the payment should be each month for each debt, according to the debt snowball payoff schedule you've created.