Financial planning is an important part of achieving your financial goals. Both short term and long term goals can be achieved more efficiently through good financial planning. According to Statistics Canada, those with a financial plan end up being more financially prepared for unexpected expenses and “more confident about their retirement”. However, creating a financial plan can be complex and difficult to create. That’s where Finally can help.
What is Finally?
Finally is an online financial planning service that helps Canadians plan, track, and achieve both short and long-term financial goals. They create personalized financial plans based on your income, expenses, goals, as well as other factors that can affect your plan, such as time.
How Does it Work?
Finally has a specialized calculator for each type of goal a user might have. This enables Finally to calculate and customize a plan according to the user’s needs. For example, if someone is looking to purchase a car, Finally will ask them a series of questions in regards to the car price, down payment, APR, and more in order to build a plan.
Finally displays all the details of each goal on a dashboard that allows the user to have an overview of all their financial goals in one place. Users can track their progress and make financial decisions that advance’s them in the direction of their goals. Moreover, users have the power to edit and prioritize their goals if their situation changes.
How Do You Create an Account with Finally?
In order to create an account with Finally, you’ll first have to sign up on their website with your email. To create an account you’ll have to verify your email address by clicking the confirmation email they send you. After that, you’ll be able to set up your financial plan in five simple steps.
- Pick Your Goals – Here you’ll have the opportunity to choose what your financial goals are. Finally provides 9 basic options such as build an emergency fund, save for retirement, pay off credit card debt, etc. They also have a 10th option that you can customize according to your needs.
- Prioritize – The second step involves ranking your goals in order of importance. This is particularly important because it will enable Finally to distribute your existing savings across your goals, and help you understand where your money should go.
- Calculate – The third step involves adding details regarding your finances in order to create a plan. Depending on your goals, income and expenses, Finally will calculate how much you’ll need to save or pay for each goal.
- Add Accounts – The fourth step involves adding your existing financial accounts to better track your goal progress. You have the option to automatically link your financial accounts, or manually add your account details if you feel more comfortable doing so.
- Confirm – The last step involves reviewing your plan and goal details. Once you confirm, you’ll be all setup and ready to achieve your financial goals.
How Much Does Finally Cost?
Finally has a 3 tier price structure that provides users with access to different features.
| Free Account | Standard Package | Premium Package (Coming soon) | |
| Cost | $0 | $50/ year (50% discounted rate) | $150/year |
| Features | – Track any two goals of your choosing. – Gain access to comparison tools (compare different products against other financial institutions.) – Can only link your bank accounts manually. | – Unlimited financial goals – Compare bank accounts and financial providers – Add & update your bank balances automatically – Automatic Plan Tracking and Progress Notifications | – Have all the features from the Standard Package plus: access to cash back program. – Automatic money transfers between your accounts |
Finally Main Features
Finally has a number of features that make it a great tool for financial planning.
- Dashboard – Finally’s dashboard contains a graph that depicts the monetary progression of your goals over your age. It also provides details on your goals such as your progression status, monthly payments for each goal, goal priority, and more.
- Notifications – Finally also provides notifications for your plan progress. It will notify you if you fall off track and will tell you what you need to do to get back on track.
- Prioritize and Edit Goals – If your situation or goals change, Finally allows you to adjust your goals to match your needs.
- Comparison Tool – Finally provides free advice on which products are best suited to help you reach your financial goals. You’ll also be able to compare product offers through Finally to see which financial provider has the best offer.
- Specialized Calculators – Finally creates personalized financial plans through its specialized calculators. Based on your goals, Finally will ask you a series of questions which they’ll use to calculate your saving needs.
- Automatic Bank Account Linking (not available for free users) – Finally is a convenient tool that you can use to sync your bank accounts in one place.
- Cashback Program (Premium users only) – The cashback program is not currently available, but will be coming soon.
Benefits of Using Finally
When it comes to paying off debts or saving for a future endeavour, Finally has the mechanism needed to make it a reality. Through its specialized calculators Finally is able to create a personalized plan that can help you:
- Pay your debts more efficiently
- Build the emergency fund you want and need.
- Help you save the money you need to purchase a car, house or any other large expense.
- Help you save for retirement, higher education and more.
Moreover, as mentioned, Finally also has a number of features that you can use to your better plan your finances.
- Finally has a dashboard that allows you to track and edit your goals so that you can keep on top of your progress.
- Finally’s comparison tool allows you to see which financial products are best for each of your goals and shows you the best offers available.
- Finally is completely accessible online. No appointments or money is needed to get started. It is an easy and convenient way to create a personalized financial plan from the comfort of your home.
Bottom Line
Having a financial plan is key to understanding your finances and achieving your financial goals more efficiently. Finally’s financial planning service does just that through its simple and easy-to-use online platform. Whether you’re looking to save or manage debts, Finally can help create a plan for you. Reap the benefits of financial planning by joining Finally now.
