Tools for Success
Now more than ever, we have the opportunities and tools to achieve financial freedom. The internet brought us the simplicity of managing and budgeting our money and the possibility to manage our own portfolios at very low cost. In or path to wealth, we use the following tools and services everyday:
Keep track and budget
Get a grip on your finances with Personal Capital. Their free tools aggregate all your accounts in one spot and will help you optimize your spending and investing. It is essential to know where all your money is going and how are you spending it. We have used Mint before but Personal Capital goes one step further and offers great tools for investors such as their Portfolio Fee Analyzer that will show you how much you are actually paying to run your investment portfolio. We like it for its ease of use and detailed tools for investors. This should be your first step to financial freedom and thankfully, it is the easiest step since it is free to signup! Read our full review.
Pay less interest
Get the lowest mortgage rate available with Lending Tree. Request a home loan, mortgage refinance, home equity loan, auto loan, or other loans from Lending Tree’s network of lenders who compete for your business. Their strategy is to let the lenders fight for you and offer you the best rate available. We have always used mortgage brokers in the past and shopping for a better rate can literally save you thousands! If you have credit card debt, you should start from the highest interest cost and pay it all off quickly. We suggest you follow our tips to pay your debt off quickly. Credit cards should be used to travel for free, not to use with a balance.
Invest automatically in low-fee funds
For DIY index fund investing, it is hard to beat Vanguard. They offer hyper-low management fees and diversified products that will let you prosper without paying unreasonable management fees. If you want to pick your own stocks or manage multiple ETF in a brokerage account, we suggest TradeKing given their low $4.95 commissions and great customer service. For 2017, they are offering up to $1,000 in free trades when you open an account. If you currently have an expensive broker, you can switch to TradeKing and get up to $150 in transfer fees reimbursed. They received Barron’s 4/5 rating 9 years in a row in addition to StockBrockers innovation of the year 2015 award on top of many many more awards (see full list).
Our top choice when it comes to reward cards is still American Express Canada. If you have a high credit score, you can seek out the welcome bonuses and earn thousands a year in rewards. By using our link, you can get 10,000 additional points if you apply today. Use the points for any travel and you can even convert them to Aeroplan points to optimize your reward. They also offer the Starwoods Prefered Guest cards which offers amazing value even if you are not a huge traveler. With the SPG Card, you can receive free hotel stays or transfer your points to a bunch of different airline reward programs. Read our full review.
Recap of useful tools
- Personal Capital Track your net worth and manage your finances for free.
- Lending Tree Pay less interest on loans and save thousands.
- Vanguard Pay low management fees.
- TradeKing Best discount broker out there. Start with free trades.
- American Expres Canada Get up to 40,000 welcome bonus.