Many of us are not habitually extravagant. It is not that we buy the most expensive cars or other luxury items every month but still, we find that our savings are not up to our expectations. So where are we going wrong? Many of us are not endowed with the knack to make accurate estimations of our day to day expenditure and this is where we make big blunders. So, for people like us, there are some very good resources on the internet that can make one moneywise efficient.

If you want to get an analysis of your monthly expenditure, neatly manage your finances distributed in different banks, make payments without defaulting, and get a number of similar jobs done; you can opt for budgeting and money managing tools like Quicken Online, Yodlee and Mint. Many banks (for example; HSBC, IngDirect and CaptialOne) are offering the facility of opening online savings accounts which seem to be offering high interest rates in comparison to the conventional method of saving. With online savings you get the benefits of ubiquitous banking. The online savings account providers say that the security of their clients is of prime importance to them. However, I have my own reservations about the security part.

If you are an entrepreneur, invoicing tools like FreshBooks and Billing Manager should keep you happy. If you’ve bought or sold any products online, you might have definitely used payment processing tools (like the widely popular Paypal). Here again, seeing the ever-increasing number of scams in online transactions, I have my own reservations in making or receiving payments. If you want some financial gurus to teach you how to manage your money you can always visit the innumerable financial websites, blogs and archives that are mushrooming online everyday. There are other tools like the online calculators that come handy when you want to make a difficult calculation (for example, for calculating the amount of pay you’ll get from your company when you retire). There are tools for online stock trading also.

These tools definitely seem to make accessing and managing money convenient and fast. Some of the tips and techniques might make you wiser money-wise. But I still feel that total dependence on online systems is not advisable. Security and privacy are not guaranteed hundred percent. Technical problems with the tools can also put you in a big soup!

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