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The following post is a sponsored post.
What is the point of using new-age solutions like online banking and mobile banking apps if you are going to rely on old-fashioned methods like manual calculators or complicated spreadsheets to manage your personal finances? Most of the individuals make the mistake of underestimating the potential benefits of proper management of personal finances.
Apart from helping you track your financial condition, effective management of money can help you extract more benefits out of your wealth creation strategies. This is where Kotak MoneyWatch can help you obtain a bird’s eye view of your assets, liabilities, investments, savings, and loans, along with useful information about equity markets and the economy as a whole.
What is Kotak MoneyWatch?
Kotak MoneyWatch is an online personal finance manager that allows you to enter and track details of all aspects of your financial life including:
- Bank accounts
- Credit cards
- Mutual funds
- Equity investments
- Small savings
- FD and bond investments
- Insurance policies
- Real estate investments
You don’t need to hold a Kotak bank account to use this PFM tool. Simply register your email id and you can start enjoying the benefits of this safe, functional, and convenient tool online.
Advantages of MoneyWatch
Unlike other tools, this Kotak product goes beyond merely providing an online record of your finances. Providing your online banking credentials and details of your credit cards, loans, equity holdings, and other financial products to this encrypted website will ensure your financial records are automatically updated on a daily basis. This means you will get an updated view of your bank balances, cash holdings, assets, liabilities, and investments on the dashboard every time you log in to this website.
Apart from automatic update of financial information, this website helps you plan and track your monthly and annual budget without any hassles. Linkage with all your financial accounts means you don’t have to waste time entering details of all your transactions. Pay your bills and watch its impact on your budget for effective analysis and informed decisions.
Further, this personal finance management tool helps you generate detailed reports of all aspects of your financial life with the click of a mouse. From the principal and interest component payable on your personal loans to a graphic breakup of your assets and liabilities, the website will help you analyze and understand your financial position even if you are not an expert in money management.
Finally, the website provides a snapshot of the performance of the financial markets in India along with useful information about the latest developments in the Indian economy. From details of the Union budget to the procedure for shifting your personal loan from one bank to another, the tool will help you acquire the necessary knowledge to improve your money management skills and strategies.
This resource helps you maximize the benefits of technology without compromising on safety of your private and confidential details of your finances. Instead of maintaining bulky files or complicated spreadsheets, use your computer, tablet, or smartphone to track your personal finances in a convenient and efficient manner.
Rachita Kotian is an independent blogger and writing has been her passion for a long time. A literature major, she loves exploring the world of health, lifestyle, travel and finance. When she’s not writing, she’s most likely listening to music, cooking, surfing the web, or catching up on the latest flick.
Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.