Personal Finance Application
TalTech's Financial Literacy Research Group has developed a financial literacy tools platform: https://fintwin.ee
FinTwin is your financial twin – a personal finance platform that provides a simple way to manage your finances and supports informed financial decision-making. The platform enables users to manage their personal balance sheet (assets and liabilities), organise income and expenses, plan budgets, and gain a visual overview of their financial situation. In addition, users can set and monitor financial goals and test investment strategies in a simulator that replicates real financial market conditions. Investing can be practised either at your own pace in single-player mode or in real time by competing with other users.
The platform also includes several useful calculators:
- Investment Calculator – estimates the expected return on investments.
- Pension Calculator – helps users plan and forecast their retirement savings.
- Third Pillar Pension Calculator – calculates contributions to the third pension pillar and provides future projections.
- Buy or Rent Calculator – compares the financial implications of buying versus renting a home.
Users can also set reminders for important financial activities, such as reviewing financial goals or paying bills. Notifications are sent via email.
The platform is free for everyone to use and will soon become open source. FinTwin supports conventional login methods as well as anonymous passkey-based authentication, allowing users to enter and manage data without providing any personal information.
The project contributes to the TAIE priority area "Digital solutions in every field of life" by developing software solutions that support research and improve access to financial knowledge and financial counselling, particularly for vulnerable groups, lower-income households, and people living in more remote areas.