planet-smart blog

New Money Manager service available to all customers

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Author : 
Kay Adler

New Resource Bank is offering a new personal finance service called Money Manager for free to all banking customers. Money Manager is a service from Yodlee, an online banking account aggregation service, which offers more personal-finance tracking and tighter log-in security than other systems in use today. The new service can be used by personal account holders as well as small businesses.

The gist of it is really simple. You log in from your online banking account at New Resource Bank, add information from your accounts at other financial institutions, click the Update button—and bam, all your account information is updated and you are now in financial organization heaven. You can see all transactions for all accounts on one screen.

Adding accounts is fairly straightforward. Click the Add Account tab and type in your financial institution’s name to search for it, or click the Popular Account tab to see if your account is listed there.

Types of accounts you can add:

  • Banking accounts
  • Credit card accounts
  • Telecommunication and utility bill accounts
  • Payment service (PayPal) accounts
  • Investment and insurance accounts
  • Loan and mortgage accounts
  • Rewards programs

You can also check out spending reports and review charts comparing income with expenses, spending broken down into categories, and budget versus actual spending. You'll also find charts that evaluate credit card utilization. You can even create personalized reports and set your budget goals. Money Manager is very good at categorizing spending based on the transaction description. However, recategorizing a transaction is one click away and rules can be set to automatically categorize past and future transactions that meet certain criteria.

Two sections that you'll want to glance at often are your net-worth statement and your portfolio manager. The latter offers you a choice of four views—Daywatch, Fundamentals, Performance, and Summary—all of which you can customize to include a variety of columns, such as cost basis and 52-week range.

While you probably won't want to look at it, the Bill Reminders tab gives you a handy way to link to your banking accounts and get bill reminders via e-mail. Finally, the Real Estate Center tab shows the value of your home, as supplied by Zillow.com. You can view charts related to your home and property values, showing how they've increased or decreased or compare with others nearby.

Other tabs under the Personal Finance umbrella take you to related tasks. You can display transactions and manage existing accounts, set preferences (specifying, for example, where you'd like to see information displayed on your dashboard), and view spending reports.

New Resource is excited to offer this powerful new service. More specific information can be found in the Money Manager User Guide.

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