Internet to the rescue: web tools can help plug the cash leaks

Families and couples trying to get their finances on the right track can take advantage of the emergence of web-based services aimed at making money management more simple.

The government-backed Money Advice Service last week launched an online healthcheck - at www.moneyadviceservice.org.uk/healthcheck - which features an action plan to help people stay on top of their money and plan to meet future goals.

Visitors to the site have to answer several multiple-choice questions about their personal budgeting. The responses are the basis for a personal plan of action and a list of suitable advice groups.

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The banks are getting in on the act too, with Lloyds TSB launching a free online Money Manager earlier this year. It allows Lloyds current account and credit card customers to split their outgoings into groups and see their spending patterns over different periods to help them work out how to budget better.

But the most comprehensive online cash planning service is offered by Edinburgh-based Moneydashboard.com, which can hold all web-based transactions and accounts so they can be monitored and managed in one place.

Users can track their current accounts and credit cards in real time, categorise their outgoings and set and manage a budget based on their spending patterns, although it doesn't yet facilitate transactions.

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