SoFi Relay Budgeting Review | Best FREE Budgeting Platform?

Описание: SoFi Relay Review:

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➤ Budgeting - https://magnified.reviews/SoFiRelay

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SoFi Relay platform is completely free and is included when you open a SoFi Money account. So when you log in and click on the SoFi Relay tab, you will be brought to a pretty basic homepage that shows you the total balances of your cash accounts, investments, credit cards, and any other loans that you might have. And just like most other budgeting platforms, you're able to link pretty much any account that you want so that you can keep an eye on everything from one app.

There is also a credit score monitoring section that works in the same way as many competitors but this allows you to not only know what your credit score currently is but what areas you can improve upon in order to increase your credit score. So if you click view more, you'll be taken to a screen that shows you the different factors that make up your credit score and credit history, and these are listed from most important to least important so as you can see at the top is your credit utilization rate which as I've talked about in previous videos makes up a significant portion of your overall credit score.

If we go back out to the main menu, the next section is a spending tracker where you can keep an eye on your monthly spending in comparison to previous months and you can also set up spending targets to make sure you are staying on track and not spending too much money on things that you probably could go without. And they even have a spending category section that will show you a really useful pie chart which breaks down how much you are spending in different categories and they will categorize your purchases for you but you can always go back and move these things around in case they do get it wrong or you want to put it in a different category manually.

As benefits of SoFi relay and SoFi money, you also get access to unemployment protection, College financing advice, estate planning, access to their partnerships with different insurance companies, and a ton of other features that would take forever to cover in one short video. I do think it's important that we also briefly talk about how this free to use platform compares to some other popular budgeting methods that are out there. And as always I'm going to be completely honest with you, I personally feel that if you're looking for something that is built specifically for budgeting then SoFi Relay is probably not the best option.

If you're looking for a platform that is more built around budgeting then definitely check out some of the other budget-specific platforms that I have reviewed here on the channel such as every dollar, mint, and my personal favorite that I use which is you need a budget or YNAB. When it comes to budgeting, SoFi really is a great place to get started and it's an awesome extension of SoFi money if you want to keep an eye on every aspect of your financial health within one app. I mean if we are looking at this platform from a holistic view, it's the equivalent of probably 6 or 7 different apps all under one platform. But if you're looking for something to create a more in-depth effective budget then what I personally recommend YNAB which again does have a small annual fee but it is worth it in my opinion.

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