Excel (and Google sheets) has been used for investment portfolio tracking effectively. However, it is not without human errors, mainly because it is usually a Do-It-Yourself process, where an individual is required to input the tracked data.
In addition, it is difficult to track an individual's net worth on the go with excel or google sheets due to the lack of live account updates, which is the purpose of investment tracking in the first place.
Tracking investment portfolios in Excel (or Google Sheets) is not foolproof. Some key challenges are encountered;
- It can be boring to use Excel in tracking net worth, and not everyone can be analytical and technical at the same time.
- It is easy for mistakes to occur while tracking assets and values in excel due to the potential for copy-paste errors.
- As the amount of information grows, there are more likely to be data errors, making accuracy difficult.
- Manually validating and tracking data is a time-consuming process.
- It can be challenging to spot and correct errors, especially when there are large volumes of information.
What is Cova?
Cova is a "plug-and-play" investment portfolio tracking tool, which allows you to connect your bank and investment accounts into a single dashboard. No manual tracking is required.
To facilitate a familiar user experience, Cova even enables you to structure your assets like your Excel sheets📊, without the human data entry errors.
Cova is an all in on investment portfolio tracking and financial planning tool.
In Cova, users can track their investment portfolios in several ways:
- Connect your crypto wallets and cryptocurrencies, get their balances in real-time, and easily track their growth in a single dashboard.
- Track your bank and investment accounts balances; see all your assets in one place. Cova uses industry-leading aggregation technology to give you access to your bank, retirement, and investment accounts.
- Add traditional assets like real estate properties, cars, etc, and upload vital supporting documents to a secure Vault.
- Safely transfer your portfolio to your chosen beneficiaries. Decide who receives access to your assets and safely share this information with them in the event of an unforeseen emergency.
Find Cova interesting? Try Cova FREE.