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Understanding money analysis sites

Posted by : Premraj | Posted on : Tuesday, July 19, 2016


Helpful tips when viewing financial investment and analysis sites

When I first started to look at stocks, portfolio options, investment sites, analysis sites, and such, I got very confused very quickly. Data was available and there was help available on most of these sites to help me in putting my money into their site, but at the end of the day I found that I was not satisfied with the information which was presented. All of the charts were cluttered, all of the terminology required a degree or at least a firm understanding of finances, and the capital needed within many of these sites was far above my margin or risk. Here are a few things which I have found help with understanding money analysis sites.

Keep it simple

If you look at the dashboard of a financial advisor or analysis site, it should be clear to read and understand. I prefer to have a dashboard that has a 3D Model (usually a bar graph or a pie graph) that indicates my spending to what I want to spend. At the same time, I do not want to have my dashboard so cluttered with information that I cannot navigate or know what is going on. The navigation should be simple. Look for sites which provide:

— Clearly marked tabs and menus

— Visuals which are easy to understand

–Clear indicators of your finances and your goals

Avoid sites which put too much information on the site or try to confuse you with the information available. It is my experience that such sites generally present a great deal of data in a cluttered design with the availability to hire a professional presented as the dominant feature on the same site. Remember, if you are confused on the dashboard, the odds are that the more in-depth areas of the site will confuse you more. It is your money and your investment, ensure that you can easily keep an eye on it.

Look for sites that present reality

Financial analysis sites and sites which show you potential growth should do so realistically. Yes, you may be able to retire with one million dollars in the bank, and the site may show you that you can obtain that goal with investments every month. However, if the site does not take into account your spending habits in the past as well as the likelihood of the proper investment in the future, then the analysis may not be realistic. Consider, if you are looking to purchase a vehicle which requires a payment of $500 per month you may get an analysis such as “With your capital being $3000 per month and bills equaling $1500 such an investment could be obtained” But if you spend $1000 in groceries and other non-essential spending then the extra $500 would put you at your maximum budget (which is not advised for any budget).

Find a site that helps you to understand your goals and your spending habits and keeps the two in a realistic balance. It is advised that when you look for such sites, that you chose a site which provides your Actual Spending to your allotted budget in a visual form (whether that is a 2D analysis sheet or a 3D component).

Sites should allow you to export data for professional advice

Sites should not hold your financial information hostage. You should be able to export your data into spreadsheets which can be then given to any professional that you decide to help you with your finances. Sites which limit the ability to access and use your financial information should be avoided. Again, it is your finances, your investments, and ultimately your gains or losses with your capital. If you find that a site limits your access to your data, charges a fee to export your data, or does not allow you to import or export your data, such a site should be avoided.

Check the fine print

Perhaps the most important part of finding a financial analysis site is to read the terms and conditions. Yes, they can be a bit lengthy, and yes they can be a bit repetitive in some areas, but it is crucial that you do so. You do not want to end up in a contract with a bank or a mortgage company unwillingly. Neither do you want to have your information shared with third parties.

The bottom line is that your finances should be treated as your future. Do not rush into a decision or feel that you have to join a particular site or firm just because it is popular. Ensure that you are empowered, informed, and that you can manage your finances (even if you need advice to do so). By doing such, you take charge of your future, become more conscientious of your spending, and are more apt to make responsible financial decisions in the future.


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