I have some spare time and I am undertaking a project to build a suite of personal financial tools for an irish audience. The idea is to make them free of charge, available in one place and see if people like / use them.
I am wondering what kind of personal financial tools people use or would like but don't exist in an Irish context?
Current ideas (I appreciate some are widely available already)
Take home pay calculator,
Budgeting tool,
Compound loan charge calculator,
Deemed disposal calculator,
Full Cashflow planning tool (Similar to what advisors use).
Any suggestions let me know.
Would love to see a representation of mortgage overpayment vs pension avc payments,if that was possible.
I know it’s simple math and the answer is clear but I think people would appreciate it being so clear.
I think the budgeting tool is the most needed and then a comparison tool included, with AI recommendations. For example based on your profile you are spending above average on take aways and not enough on pension or saving for a home.
Personally I’d like to see a tool for individuals to create a personal finance plan as my opinion is everyone should have one of these, but due to lack of education not many people have one.
It’s one thing building these tools and another getting them out there. So I’d suggest some add on functions like mortgage calculators that the banks will pay you to use for referrals. And then spend that revenue on running some ads.
Look up Dave Ramseys every dollar app for some inspiration.
I would love to see a simulator of the impact of the deemed disposal rule given the historical performance of a set of ETFs.
We can use the tool to help the fight against this non-sense taxation regime.
I like the idea about the Irish context.
I’ve been using Toshl to track all my expenses. I also have an Excel sheet where I manually add the balance/totals of all my various accounts, pension plans, life insurances, etc.
Ideally, a tool would be able to query accounts (including all the various subaccounts/vaults/pockets/savings accounts/joint accounts/etc. from Revolut, N26, Wise, bunq, EBS), Zurich insurances, ETFs and shares (Trading 212, Trade Republic, Degiro). I know that this would be an endless undertaking as there are so many different places we can keep and invest our money.
I agree about a mortgage vs AVC calculator, ETF taxes, perhaps a calculator to include different pensions (private companies, governmental pension, HSE pension) to see what the overall pension payment would be in x years and if an option for a lump sum payment would make sense if possible.
Also, big question if this is a tool that runs locally or if I’d need to upload/enter all my data to the cloud. Both options obviously have pros and cons.