Our Full Personal Capital Review 2018
Personal Capital is an online finance service/app that allows you to track your finances. A few weeks ago we covered their $20 sign-up bonus and I’ll admit that is what got me to sign-up. Eventually though I began to really like the service so I thought I would bring you this full Personal Capital review.
Signing Up & $20 Free
Personal Capital is completely free, however they do have premium investment services that they will hope you try. Signing up doesn’t obligate you to anything. If you sign-up with my referral link then you will get a $20 Amazon gift card. Here is how it works.
2. Answer any required questions. They do ask about your goals, etc. but most of the questions can be skipped.
3. Link an investment account to your profile. Note that simply linking a bank account won’t work to trigger the $20 credit. Only an investment account will work.
If you do all of the above, you should receive a $20 Amazon code via email within 24 hours. When I signed up it took about 12 hours to receive the code and I linked my investment account right away.
Personal Capital Review 2018
While I have yet to link every single account to Personal Capital, I have linked a Vanguard retirement account. They really have a lot of great info at your disposal. I particularly like their dashboard.
The dashboard allows you to quickly see your cashflow, how much you need to save and what your “net worth” is. Right now since I don’t have all of my accounts linked, it only shows a partial picture, but if I had all of my bank accounts, etc. this would be a very accurate number.
As you can see above, Personal Capital also has a Budgeting screen where it tracks spending on credit cards. Once again, I haven’t used this but I can see it being a very useful tool to see when you are spending more in certain categories.
The You Index
One of my favorite features of Personal Capital has to be The You Index. Basically they track how much my portfolio goes up and down. It obviously shows this information when you login, but they also fill you in once a week via email.
I don’t love receiving an email showing a losing week, but it’s nice to see how my holdings are comparing to other markets.
So why is Personal Capital doing this all for free? They want you sign-up for their investment services. This is something I won’t do and it doesn’t bother me, but be aware of that. Occasionally I receive an email asking if I want to schedule a call. To date they haven’t called me. (Although others have reported being called often.) I suppose you could give a fake phone number just in case, but an occasional email is fine with me.
Mint vs. Personal Capital
This is probably more personal preference than anything, but I like Personal Capital better than Mint. I think the interface is nicer, although both probably do the same stuff. Personal Capital makes it quicker to link accounts, seems to just work better and I really like their mobile app.
Personal Capital Review – Conclusion
What started as a way for me to get a free $20 (a deal I think most should do considering how easy it is) turned into me finding a tool I really like. Now that I have a feel for Personal Capital, I am going to link some more accounts so I can better track my finances.
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