Whether you are a Coal Miner in Pennsylvania, a freelance blogger, or a CEO of a Time Tracking Software company, chances are ‘You’ve got your mind on your money, and your money on your mind’, both personally and professionally.

From the time that I was 7 years old, I have always been a saver. I remember having $75 in my wallet at the age of 7! That was big money. When I turned 21, I began tracking my net worth on a homemade spreadsheet that I have since updated twice per year… It’s been amazing to watch the growth.  Granted, I still have a bit of trouble trying to get my windows 98 document to open, but you get my point.

In addition to tracking my net worth, I have always been passionate about building budgets and forecasting revenues and expenses, a CFO-like role for my personal finances. Then the last business I built had a very complex financial model with about 100+ line items on the Income Statement. After about 6 months of studying my own financials and with assistance from CFO’s of large corporations, I became an expert on financial engineering. Even to the point of doing several consulting projects for businesses of which my hourly bill rate was $925/hour to build their financial pro forma to get both a clear picture of the past and build a road map for the future.

Someday on my own personal blog, I will go further in details on how to do financial engineering; however, for now I’d like to share with you the absolute best Personal Financial Management tool that I have found on the market. It’s incredible and it’s free! In full disclosure, I get absolutely no kick-backs or benefits for me writing about this software, it’s just simply the single best tool that I have found for you to manage your personal finances.

The tool is called Yodlee.com. If you have a budget or are considering building a budget and don’t want the arduous process every month of having to update it, Yodlee.com will completely automate your budgeting process. You can customize each expense item from different stores and each revenue item to automatically go into your desired expense category. For those of you who are in the 60% of American’s who struggle with debt category, you can even set up your own “get out of debt” plan!

After building four different companies and having a fairly complicated personal income statement and balance sheet, this tool has taken my arduous personal monthly budget process that on average took 5 hours and turned it into a 30 minute cake walk!

Needless to say, the financial tool Yodlee.com has the endorsement of Matt Rissell . . . and his accountant!

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