After you sign up for an account, you can add and track your progress for a number of financial goals (if you’re unsure of what to aim for, Lovemoney will suggest some relevant ones to you), such as saving for a wedding or setting up an emergency fund. Your goals are then broken down into a series of smaller tasks that you may wish to complete in order to achieve the goal, and the tasks themselves are categorised by whether they’re easy, quick or can be completed online – so you can pick and choose which you feel like doing.
What’s particularly good about the application it that along the way you can see tips from other users who are completing or have already completed the same goals as you, which should make achieving the goal simpler. The application also helps you keep track of how you are progressing along the way. If you’re feeling particularly helpful, you can pass on your own experience or tips to help them complete their own goals.
Overall, if you need some motivation achieving certain financial goals, this could be a very useful site to join.
Lovemoney have also added customer reviews of financial products, which seems to be a growing area for personal finance and comparison websites. Customers can give products on credit cards at the moment, but other products are on there way, and you break down your review into a rating out of 10 for the application process, the product itself and the customer service. It’s a useful addition to the site, but as with all of these sorts of tool, it needs to reach a reasonable level of use before you can really trust the reviews, as with few reviews the results can be too easily skewed.
Of course, along with these new features, Lovemoney has plenty of good articles about financial products and money advice (Lovemoney was a spin off from Motley Fool, leaving the Fool to concentrate on articles about investments), so head on over for a read.
photo credit: AddyLaddy
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