Grow: Consider one of these tools to up your money game

CFP Michael Kitces, co-founder of XY Planning Network, partner and director of wealth management for Pinnacle Advisory Group and publisher of Nerd’s Eye View, explains how automatic budgeting tools can up your financial game.

Q: What money habit do you recommend most to your clients, and why?

The financial habit I recommend most is to sign up for a digital tool, like Mint.com or YNAB, to automatically track your spending.

The virtue of using these tools is that, simply put, you’ll finally know where all your money is going. Some even do a pretty good job of categorizing your spending—though they wouldn’t know how you use your cash—which gives you a better understanding of not just how much you’re spending, but also exactly what you’re spending money on.

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