Researching Online Budget Tools

Numerous personal financial planning or budgeting tools are available on the Internet, many of them free. Choose at least two different online budgeting sites and input information for a typical person of your age. (Note: Please create a fictitious profile and do NOT use your own personal information.) If you want to use a tool that requires a link to your bank account and set up a real budget, that is great. There are tools that do not integrate with your bank account.

Required:

1. Use each tool to develop a monthly budget.

2. Compare and contrast the two online budgeting tools. Do you prefer aspects of one over the other? Are there things that you dislike? Explain.

3. How helpful do you think such tools are in personal financial management? What are the pros and cons? Have some fun with this. Try to make it somewhat realistic for a future point in your life after you are through with college and have established your career.