Building a personal finance app

[curiosity_20]

That's nice. I'm building an app to help you build your dream home.

 

[articland05]

TS should open ur thread in edmw instead
u will get tons of feedback...


Read HWZ Forum Rules!

 

[YouHeypiCanLiao]

There are lots of great apps in the US doing stuff like this. Probably the most famous one being Personal Capital. Also, there is a relatively new broker on the scene called M1Finance, it is becoming popular because of their innovative UI and insightful analytics.

M1Finance works locally?

 

[celtosaxon]

M1Finance works locally?

M1 is rather strict with its membership criteria, only US citizens/green card holders over 18 with a US residential address and US phone number (even VoIP not allowed).

Unfortunately a lot of the financial innovations you see in the US, like Target Date Funds, are simply not available here locally yet. But that doesn’t mean you can’t achieve the same outcome, it’s just requires more study and more effort. It’s like a manual car versus automatic, both can get you to your destination.

Personally, I don’t mind driving a manual car, once you get used to it, it becomes second nature. Same with investing.

 

[endlssorrow]

Today I can view all of my financial information in one spot today. I do this with the Google Sheets app. Share prices, gold prices and exchange rates all get pulled in with formulas. I can see my exposures by geography, market cap size and sector (I have to add in the percentages for each ETF myself, then it calculates). There are a few things I need to update manually, like cash balances, CPF balance, home equity (marked to market), but not frequently.

I can see my equity allocation as a % of my net investable assets in there, it calculates how much to add or reduce to hit my upper and lower bands, which are 120 minus my age and 110 minus my age. In between those, I also display where I am currently in terms of XXX minus my age.

The nice thing about all of this, I can customize it however I want. Recently, in addition to my net investable assets and my total net worth, I created a new measure called “total financial worth” that includes the value of other benefits that I’m eligible to receive in the future that don’t show up on my balance sheet, as that plays into my allocation.

That is how I manage my finances today, but I am probably not your typical financial consumer. I also enjoy managing my finances, so I don’t feel any real need for automation like target date funds… but that is me.

Can send a sample photo of it? Hehe