It can be intimidating (and expensive) to find professional financial planners these days, but understanding your budget is an absolute necessity.
For those who have nervously pondered how to get economic service on a dime, here are three great sites that offer financial advice, such as how to manage your budget and where to invest your money. Move over Wall Street, the Internet is the new financial frontier.
See also: The Millennial's Guide to Personal Finance
Image: LearnVest, LearnVest
When Alexa von Tobel started LearnVest in 2009, the company was originally aimed at teaching women to become more financially savvy. Four years later, the site has expanded so much that Tobel made it gender-neutral. It turns out, everyone could use more financial planning.
LearnVest offers a full-scale system, combining modern technology and certified financial planners to help inform and organize your economic life. Considering the professional service it provides, it's a steal. To get the full user experience, you pay a $399 upfront fee, then $19 a month. If you want to start slowly, you can grab the more basic $89 upfront, $19 per month “budget starter” plan. That kit offers a one-on-one planning session to customize your budget, financial "challenges" to curb your bad money habits and unlimited email access.
Image: Investopedia, Investopedia
If you’re still gingerly dipping your toes into the pool of confusing financial jargon, check out Investopedia. An encyclopedia for all terms finance, the website was previously owned by Forbes, then sold to advertising company ValueClick in 2010.
It has definitions for essentially every frightening financial term. The site also hosts a series of tutorials on everything from financial literacy to retirement plans. Confused by your first credit card? Check out this piece called “Understanding Credit Card Interest,” one of many topical articles and tutorials offered on the site.
Image: Betterment, Betterment
Investing in stocks and bonds isn’t just for slick, shiny Wall Street types. For $100 per month, you can use Betterment to invest your money safely and easily into stocks and bonds. CEO Jon Stein founded the company for the purpose of simple investment, and the market responded. Betterment has grown to manage more than $200 million in assets — not bad for a three-year-old startup.
All you have to do is sign up and set your budget; the site will do the rest. It’s designed so users can invest, then get on with their lives, which makes it user-friendly for all finance neophytes. You won’t have to constantly pore over the nitty gritty details of your venture. While it probably won’t make you an investment rock star with millions in stocks and bonds, it will get you on a responsible path to slow, solid growth.
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Image: Flickr, 401(K) 2012