If you are preparing to, or just bought, a new home, you’re probably working toward managing your finances. There are so many places online that offer to help, but it’s good to get advice from the experts before trying them out.

We heard about some great financial websites from Mellody Hobson, financial contributer for ABC news. So we went to check them out for ourselves.

Mint.com

This site has been named best online personal finance tool by Money Magazine, and the best budgeting site by Kiplinger’s Magazine. First of all, it’s totally safe and secure — no different than using your bank online. Mint.com connects securely with more than 7,000 financial institutions. No data entry.

How it works: you create a free, anonymous Mint.com account and then proceed with the simple set up. You add your bank, credit card, home loan and investment accounts. It only takes about five minutes, and this is the only data Mint will request.

Then the site will automatically pull in your balances, purchases, stock trades, etc., and will give you a complete picture of your finances. It will then track how you are spending your money, help you plan a budget and track your budget progress. Mint will even help you find ways to save by suggesting a different bank or credit card. [Just remember, joining too many credit cards can hurt your credit score!]

SIMPLIFI.NET

SIMPLIFI.NET is designed to help middle and lower-income consumers the opportunity to get advice and make a financial plan.

Unlike Mint.com, you don’t enter any personal information into SIMPLIFI. You just give approximate account balances with nicknames, and then you determine your financial goals with the help of a virtual financial advisor called “Sophie.” The site can help with savings, investments and debt management.

SIMPLIFI will provide you with a grade, which is based on your ability to achieve the financial goals you have set. (These are actually letter grades, and you can work to improve your grade to an A.) The site will help you build a spending plan, and, as the name suggests, the site keeps things very simple.

SIMPLIFI is also a registered investment advisor, so it is under the rules of the Securities and Exchange Commission.

Learn more about Mellody Hobson’s favorite online tools for financing.

Other Posts

• September 29, 2008 -- The Safest Bank in the US
• April 22, 2009 -- 5807 Montgomery Rd., Cincinnati, OH 45212
• July 13, 2007 -- 5609 Milan Ave., Pleasant Ridge, Cincinnati, OH 45212
• July 13, 2007 -- 828 Wakefield Dr., Mt. Lookout, Cincinnati, OH 45226