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BW Businessworld

Tracking Your Wealth Online

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Do you tie yourself up in knots every time someone wants to know your net worth? Do you spend hours going through Excel sheets trying to figure out if your stocks are in the black? Let's face it while we want to make our money work for us, we loathe the idea of tracking it. Tracking your portfolio can be a mammoth task. Fortunately, help is at hand — online. Various websites help you not only compute your net worth, and track the ups and downs of your portfolio, but also calculate your loan eligibility, insurance needs and the like. While it takes some time initially to feed in all the data, the website soon takes over, making life a lot more simpler.

It helps you manage all your finances online including most asset classes such as stocks, mutual funds, bank balances, fixed deposits, bonds, gold, small savings, provident funds, loans and insurance. Besides, the site has several calculators to help compute your income tax returns and the home loan EMI. Some of these applications are useful while  others assume you know things like the rate of return given by mutual funds etc. If you are clueless about them, it will render the whole exercise useless.

The Desktop 2.0 from Edelweiss is for those who are concerned about privacy and would like to have the option of tracking their portfolio offline as well. One of the biggest advantages of the Desktop is that it allows you to upload the details of demat accounts held at non-Edelweiss brokers, so that you can have your entire portfolio at one place. You even have the option of transferring data to and fro from your online portfolio. Of course, you have all the expertise of Edelweiss analysts at your disposal and their multiple technical indicators enable you to make smart  decisions. And if the jargon gets too much for you, just go by your gut feeling.

For Rs 330 a year you can access the website's portfolio tracker services which enable you to make smarter investing decisions, thanks to all the analysis in the form of transaction summaries, annualised returns and even currency reports. You can set up an online watchlist and also get email alerts for all your stocks and mutual funds. The website even updates your net worth every 15 minutes but that's probably not a good idea for the faint-hearted given the volatility in the market.

Looking for a home loan but don't want to knock on various banks' doors for interest rates and the like, check out The website has a tie-up with various banks such as HDFC and Axis Bank and at times offers a lower interest rate than the one given by the bank directly. There is also a bonus saving of Rs 5,000 if the loan is taken through the website. The website also has various calculators to help you calculate your EMI payment, your home loan, personal loan and car loan eligibility. What's more, it not only helps you compare rates from multiple banks, choose the best loan for your profile, but also simplifies the paperwork by allowing you to apply for a loan online.
Planning to leave all your worldly possessions to your near and dear ones? Check out's will-drafting tips. It even has a ready format available where you only need to fill in the blanks. The website also has a  comprehensive net-worth calculator to help you compute the true value of your worldly possessions. Besides, it also provides stock market updates and analysis of mutual fund performance.

The website enables you to track all your assets, liabilities, income and expenses at one place, thanks to its My Planner tool, giving you a better hold over your cash flows. However, its retirement calculator is not very user-friendly as it expects you to fill in things such as ‘post retirement expected inflation' and ‘expected return post retirement'.

If one knew such things, the simple arithmetic could be done on a piece of paper and will not require their fancy calculator.

If you invest only in mutual funds, log on to the MFI Portfolio Tracker from, an ICRA online initiative. It provides a consolidated picture of all the investments in a user-friendly format and generates mark-to-market reports at the transaction, scheme and portfolio level itself. What's more, all dividends — reinvestments/ payouts — and bonus transactions are generated automatically. Historical net asset values (NAVs) are given in a graph form making it easy for you to understand their ups and downs. Comprehensive reports that calculate long-term and short-term capital gains and tax accrued simplify filing tax returns.

(This story was published in Businessworld Issue Dated 23-01-2012)