Money management has been an important aspect of life for people all over the globe for a rather large portion of history. As time goes on, it is becoming more and more critical for citizens everywhere to manage their money and manage it well.
Why is it becoming more critical now than during other times in the past? Not only do you need to have good credit to get loans for big ticket items, but it is important to make sure you have enough money stashed away in case of an emergency or for retirement, among other reasons.
Everything is not as cheap as it used to be. In fact, prices are rising on everything which means you need to save even more and manage your money even better to ensure you can afford to just, well, live.
Did you know there is also more to managing your money than just saving or having good credit? Believe it or not, there is, especially as more and more data points emerge and become more popular as tools to help banks and lenders accurately hand out loans or create accounts for their clients.
Are you unaware that these excess data points exist? Do you have a vague idea of what these data points are, but you are unsure about how they impact your finances? Are you an expert in these data points?
Regardless of your knowledge on their impact, PFM Verify can help you understand everything that goes into managing your money and can help you improve your overall financial wellness with the company’s handy online banking and money management services.
Back to Basics: What is PFM?
To understand exactly what PFM Verify can do for you and your finances, it is important to understand what exactly PFM is in general. PFM is an abbreviation for Personal Finance Management (or Manager in some cases; the M in PFM Verify stands for Manager).
Typically, PFM refers to a software that is designed to help a user manage their money by adding all the user’s accounts from multiple banks or institutions into a single place where the user can then view their spending trends, budgets and more altogether via visual data charts, graphs, lists and more.
What Is PFM Verify?
PFM Verify encompasses the exact general definition of PFM and you can use its helpful software via your computer, tablet or smartphone thanks to its website or smart device application.
With PFM Verify, you are provided with an overall snapshot of your financial wellness situation and will receive ongoing monitoring of it as well so you can be alerted when there are changes or updates to any and/or all your accounts.
How do you get an overall picture of your financial wellness? You link all your existing financial accounts to your PFM Verify account. These accounts can be checking accounts, savings accounts, other bank accounts, different types of loans, etc. You will never have to manually enter any individual data into your PFM Verify account.
By linking your accounts, PFM Verify can analyze your data and provide you with impactful insights based on the results. Your results can help you determine your liquidity ratio, savings ratio and net-worth among other things.
For those who do not know, a liquidity ratio is used to determine the ability of a debtor (a person who owes a sum of money) to pay off their current debt obligations without the debtor raising extra capital or funds to do so.
A saving ratio is the measurement of the amount of money a person deducts from their disposable personal income (all sources of income MINUS taxes paid on the income) to set aside for a nest egg and/or retirement written in the form of a percentage or ratio. The formula to figure this out is:
(Disposable Personal Income – Bills/Payments/Etc.) = Saving Amount
(Saving Amount / Disposable Personal Income) x 100 = Saving Ratio
Someone’s net-worth is the value of all their assets (financial and non-financial) subtracted by the amount of the person’s outstanding debts. If the value is a positive number, it means their assets exceed their debts. This means a person has a positive net-worth. If the value is a negative number, it means their debts exceed their assets. This means a person has a negative net-worth.
What Can PFM Verify Do for You?
After analyzing your financial data, PFM Verify can assist you in managing your money to the best of your abilities and improving your overall financial wellness. PFM Verify allows you to:
- Track, build and maintain your net-worth
- Track and manage your assets, debts and account balances
- Track all your financial transactions
- Manage and/or maintain spending habits
- Create and stick to budgets
- View and monitor payment histories
- Pay down debts
- Invest smarter
- View your credit score and credit report
- Manage and maintain your unique financial health score
All this information can be found on your PFM Verify account’s clear, concise, organized dashboard. The dashboard is constructed like a social media feed, so as you keep scrolling, you will find more and more insights into your financial wellness and tools to help you improve it. Your dashboard is also updated each time you log into your account.
Many of the insights you find on your account dashboard are provided to you in the form of handy, visual, colorful charts and graphs to help you easily break down the information you are being provided.
One of the coolest features on PFM Verify is seeing your overall financial health score. It is provided to you in the form of a colorful meter. From left to right, the colors on the meter are red (bad), orange, yellow, light green and dark green (very good). You will also be provided with a numerical score out of 100 underneath the meter so you can see how your financial health in doing in a different way to help you better understand what is happening.
Creating Your PFM Verify Account
Viewing your complete financial profile, financial history, credit score, net-worth and PFM Score is only moments away when you create your PFM Verify account today.
To sign up, you simply need to enter some of your standard registration information such as your name, phone number and email address.
It is very important that you enter the correct phone number and email right away. PFM Verify will send your account log-in credentials to you via email and SMS text message, so you need to make sure you can access your email inbox and text message inbox so you can log into your account.
You will then enter your home address, enter payment information for the $1 verification fee (which can be refunded upon request) and verify your identification. It is also important to note that after your initial seven-day introductory period, you will be billed $29.95 monthly to maintain your PFM Verify membership. If you are not satisfied with PFM Verify after seven days, you can cancel at any time. Otherwise, you can continue to enjoy the risk-free member benefits that PFM Verify offers its users.
When you join PFM Verify, you will also receive a free credit score. Receiving this report from PFM Verify will not lower your scores, so you do not need to worry about it negatively impacting you.
PFM Verify has been prominently featured in Google News, Yahoo! Finance, Facebook News and NBC News, so you can be confident this online banking and personal finance service can help you achieve an all-around better financial well-being.
Are you visualizing your complete financial profile improving from all the tools and insights that could be in the palm of your hand thanks to PFM Verify? Then you need to create your very own PFM Verify account today to begin crafting a better financial outlook for tomorrow.
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