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Best personal finance software of 2018. And provides various budgeting and prediction tools to help you stay on track. Made primarily for Mac users. The Best Personal Finance Software Personal finance software can help bolster your financial literacy, track spending and savings, and help you set short- and long-term goals. We spent a week compiling a list of every finance app we could find (a total of 48), and whittled it down based on security, convenience, tools, and customer support.
Personal finance software can help you to manage your money flow in a better way. Money management is the most critical task in both personal and business life. For helping the business owners and personal finance management, there are many finance software is available for Mac. The budgeting apps. We spent over 60 hours testing 20 personal finance apps and programs to find the best budgeting and money management tools. Our choice for the best personal finance software is Quicken Premier. It combines the best budgeting tools with easy-to-use tax reporting.
Best personal finance software
Read on for our detailed analysis of each app
The wide availability of digital devices and mobile apps means that managing your personal finances is no longer such a challenge as it used to be. Rather than juggling pieces of paper, you can now run everything through a single software package.
Because the records are digital it means they are easy to store and backup, and different applications can be used either just on your PC or sometimes also on your smartphone.
The basic ones simply provide an easy portal for managing your finances, but some of the more advanced ones can help with reducing debt, managing budgets, or even provide finance advice as an additional service.
We'll therefore look at the best on the market for personal finance software, and show you the standout features of each one so that you can get a better idea of which would be best for you.
If you're looking to keep your business books with a bit more detail, check out our guide to the best accounting software.
- We've also chosen the best free software for small businesses
- Want your company or services to be added to this buyer’s guide? Please email your request to [email protected] with the URL of the buying guide in the subject line.
1. Quicken
Fair pricing
Desktop and app
Quicken is a long-established tool for managing personal accounts, and while its reputation was built on a desktop version, it's now available to run as an app on your mobile devices.
Quicken offers a good range of financial reporting tools. These are set around a few different areas, namely budgeting, bills, accounts, and even investments. For budgeting, it offers you a chance to input your purchases and income so you can compare them both together to get a better idea of how much you are spending compared to how much you are earning.
In terms of bills, you can also see which utlities and similar you are constantly paying out to, and see both the amounts to be paid and how much money you have left over. For accounting purposes you can even bring your banking and credit card bills together in one place so that you have a very clear idea indeed of how much you're paying out. This is especially handy as people easily underestimate how much regular small purchases can add to costs.
For investments it also offers the ability to track these, whether as part of your savings, investment portfolio, or 401k pension plan. This means you have a clear idea of how much your savings and investments are worth, though it's fair to say you shouldn't panic about short-term fluctuations in the stock market.
Altogether, Quicken brings together your budgeting, banking, and investment reporting into a single dashboard, which you can view from your desktop or even via your cell phone from the mobile app.
Pricing starts at $34.99 a year for the Starter Plan which covers most of the basic features, though the Deluxe plan at $39.99 a year allows for additional budgeting and goal setting.
2. Personal Capital
Fees are lower than most
Not suitable for those outside the US
![Best personal financial software 2018 Best personal financial software 2018](/uploads/1/2/6/0/126066132/308525658.jpg)
Personal Capital's primary function is to track your investments, assets and savings, rather than specifically looking after your current accounts. Are your assets working for you? Are you on course for a comfortable retirement? What can you do to be better off? Plug everything in and you'll be able to see the big picture of your finances.
Personal Capital offers specific advice and statistics based on your goals and your current standing, but access to human financial advisors is where the company makes its money.
While anyone is welcome to use its website, you can only access advisory services if you have an account minimum of $250,000, and there's an annual fee (of between 0.49% and 0.89%) to pay if you want your assets – this is lower than most financial advice services.
Overall, Personal Capital beings all your checkings and savings accounts, loans, mortgages, and 401k accounts into a single dashboard which can make it easier for you to manage your finances.
3. Buxfer
Buxfer Pilot$1.99
Buxfer Plus$3.99
Buxfer Basic
High level of encryption
Reporting options are limited
An online service that's not slathered in effects and colours, Buxfer does a good job of presenting your finances in a clean, professional manner. It cutely brags about the fact that it's currently helping its users manage over four trillion dollars in funds, so it's got a solid user base behind it.
You don't have to give Buxfer your exact banking details if you're uncomfortable doing so – you can opt for offline manual syncing with your bank account instead – but if you do trust it, there's a layer of high-level encryption to protect your data and the company is regularly audited.
We like its budgeting tools best of all – the visual reporting is very strong, and the fact that it doesn't force you into predefined categories and instead allows you to tag expenditures however you see fit means Buxfer should fit nicely into most people's banking lives.
The free version gets you five budgets, accounts and bill reminders, the Pilot version ($1.99 per month) adds on automatic tagging and bank syncing, the Plus version ($3.99 per month) gives you unlimited budgets, and the Pros version ($4.99 per month) includes online payments, advanced forecasts and more besides.
4. YNAB
YNAB$6.99
Free trial
Limited features
Just in case you need to be told explicitly what to do, along comes YNAB - short for You Need A Budget. Because, hey, if you don't want to spend every single penny you have and more, you absolutely do need one. And perhaps you have more money than you thought?
YNAB's primary mission, as you might expect, is to help you curb overspending and avoid living from paycheck to paycheck. Stick to the program, temper your spending appropriately, and eventually YNAB will see you spending last month's money rather than that which you've just earned.
It's quick to install, supports the majority of transaction information downloadable from banks, and appropriately configures itself for personal or small business use by changing its monetary categories depending on your needs.
If you get off track, YNAB – which is reasonably forgiving and understanding for a bit of software – will tell you what you need to do to get back to where you need to be. You'll have to make sacrifices, but if it's guidance you need, this sets itself apart from the likes of Quicken.
5. Banktree
Supports multiple currencies
Banktree is more than happy to support worldwide currencies, and in fact does a solid job if you're working simultaneously with more than one, offering balances in multiple currencies rather than rounding them off into a single total. It's also good for keeping track of everything, allowing you to scan receipts with its mobile app and import them later on.
It's not the prettiest software around, and it's slightly more awkward to use than many of its more refined cousins, although Banktree does produce very neat reports which you can break down by time, or by payee. It may be worth experimenting with the free trial before you choose to invest in this one.
6. Money Dashboard
Features personalized tags that make budgeting easier
High security
This iOS/Android app doesn't try to reinvent the banking world or offer anything truly ground-breaking, but it is perhaps one of the most useful money management tools out there. Hook up every one of your UK bank and credit card accounts and you'll be able to see each of your balances in a single place with a single login. That in itself is enough for us to recommend it.
But there's more – Money Dashboard will track your spending, offering you an overall pie chart depicting your spending on loans, consumables, transport and the like. There's an at-a-glance overall balance, showing exactly how much money you have available across all of your accounts, and you can compare this to the previous month's figure to show how well you've been managing your funds. That's a great motivator.
It's super-safe, too: Money Dashboard locks down your login with an equivalent level of security to that of your bank, and it's completely read-only – your money isn't going anywhere.
7. Moneydance
Money management made easy with a simple interface
Strong reporting features
Made primarily for Mac users (but also out on Windows and Linux), Moneydance is a desktop money management package with a very neat single-window interface. Load it up and you'll get an instant view of your finances, upcoming bills, recent expenses and more. Click an item in the left hand sidebar and the main content changes to reflect it.
Its reporting features are quite strong if not spectacular to look at, and one of Moneydance's most useful sections is its account register. If you're old-school and once managed a cheque book, this operates on a very similar principle. There's also an iOS app for logging transactions on the go, which later syncs with the software on your desktop.
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Unfortunately for UK users, Moneydance doesn't support the connection protocols used by UK banks, so you'll need to download your transaction history manually to keep on top of it and revert to your bank's own app to move money around. US users, however, are well covered.
Managing your money isn’t easy, so it’s no wonder that only 41% of Americans have a budget, according to the National Foundation for Credit Counseling.
A budget is the most fundamental financial planning tool out there, and with one, you’ll have a better chance of reaching your short- and long-term financial goals. And if the “b word” makes you bristle, don’t worry: The best personal finance software can make it surprisingly painless.
“Online banking is a great tool to pay bills and reduce paper statements,” says Dan Crimmins, New Jersey-based financial coach at Crimmins Wealth Management. “However, it cannot establish a budget or categorize your expenses. A financial tracking software gives you the ability to review how you are spending your money.”
Several personal finance apps and websites can help you plan and keep track of your spending. No one service is best for everyone, though, so it’s important to compare several options to find the one that works best for you.
To help, we’ve put together a list of the top three personal finance software options and how they can help you achieve your goals.
Best Personal Finance Software: The Simple Dollar’s Top Picks
- Mint: Comprehensive, free, and easy-to-navigate software; great for beginners.
- You Need a Budget: Hardcore budgeting for people who want to know where every dollar is going.
- Albert: Does a lot of the legwork for you and provides you with timely and actionable advice.
Mint
Mint has more than 20 million users, and it’s easy to see why. For starters, the software is free to use, and it automatically syncs your financial accounts so you can budget and track your spending all in one place.
Budgeting isn’t the only service Mint offers, though. You can also:
- Monitor your Equifax credit score.
- Stay on top of your bills.
- Track your investment accounts.
- Get alerts when you’re being charged fees or going over budget.
- View your home’s value (courtesy of Zillow) and track your overall net worth.
For budgeters, Mint’s most valuable feature is its automatic syncing. Just sign into your bank and credit card accounts through Mint’s platform, and you’ll get updates on each account every time you make a transaction.
When transactions come through, Mint will automatically categorize them based on their details. If the assigned category is wrong, you can update it and even split transactions into more than one category online or on the mobile app.
Based on your spending, Mint will also create a budget for you. But as with the transactions, you can customize your budget based on your needs and spending habits.
If you want a bird’s eye view of your spending habits, Mint has a Trends feature that shows you how you’ve spent your money by category over a set period. You can also compare two periods to see how your current spending compares with spending in the past.
While the service is free to use, Mint makes its money by recommending targeted financial products to its users. Depending on your tolerance for such ads, it can be frustrating to feel bombarded with the unsolicited advice.
“Most free financial softwares make money by providing product recommendations or having advertisements within the software or app,” says Dominique Broadway, CEO and personal finance expert at Finances Demystified.
Mint is a great option for:
- Beginners who are overwhelmed with the idea of budgeting.
- Hands-off budgeters who want everything in one place.
- People who don’t mind the ads.
You Need a Budget
You Need a Budget, or YNAB for short, is an intensive budgeting software with the goal of giving every dollar a job. The software is also designed to help users get out of the paycheck-to-paycheck cycle and live off of the previous month’s income.
When you first sign up, YNAB provides you with some general budgeting categories to start with, like Rent/Mortgage, Electric, Groceries, and other essential expenses. You can add or change categories based on your spending habits.
As you continue setting up your budget — either online or with the mobile app — you can add individual accounts and clarify whether each is a budget account or just an account you’re tracking, such as an investment account or auto loan.
While YNAB allows you to connect your financial accounts for automatic transaction importing, it doesn’t require it, allowing you to choose how hands-on you want to be.
As you use YNAB over time, you’ll have access to a few reports to help you make better financial decisions:
- Spending report: This gives you a snapshot of how much you’ve spent in each category over a set period. You can also view how your spending in each category has changed over time.
- Income and expenses report: With this report, you’ll get a detailed breakdown of every source of income, plus exactly how much you spent in each category by month.
- Net worth report: You’ll not only get to see what your current net worth is but also how it’s changed over time. This is valuable because your net worth is a good measure of your overall financial health.
If you have a specific financial goal you’re working toward, you can monitor your progress using YNAB’s goal tracking feature. Choose a target balance or a monthly funding goal, and the software will track your progress and give you some tips along the way.
In addition to giving you a platform to budget, YNAB also offers free, live workshops to give you advice on budgeting, paying off debt, saving and more.
- Read more: Putting Every Dollar to Work: How and Why to Use a Zero-Sum Budget
The biggest drawback to YNAB is that it’s not free. When you first sign up, you’ll get a 34-day free trial. But after that, you’ll pay $83.99 per year, which comes out to about $6.99 per month.
YNAB is a great option for:
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- Experienced budgeters who want a more hands-on approach.
- People who like to analyze their spending using reports.
- People who don’t mind paying for budgeting software.
Albert
If you prefer mobile over using your computer, both Mint and YNAB have mobile apps. But with Albert, all you get is a mobile app.
Like the other software we’ve listed, Albert allows you to connect your financial accounts when you first get started. From there, though, it does most of the work for you.
For starters, the app will automatically create a budget for you based on your spending, bills, and income. You’ll also get a personalized financial plan, which can help you spot ways to save more and meet other financial goals. If it spots something out of the ordinary, you’ll get an alert.
If you opt in, Albert will automatically set aside a portion of your money into a savings account each week based on what it thinks you won’t miss. Albert even helps you negotiate your bills, which can save you money on ongoing monthly expenses like your phone, cable, security, or other bills.
If you want more personalized service, you can sign up for Albert Genius, which allows you to text the app’s human financial experts and get advice. There’s a fee for this service, but Albert allows you to choose how much to pay. According to its website, most customers pay $6 per month or more for the Genius service, while the minimum cost to operate it is $4 per month.
Albert is a great option for:
- People who want to make better financial decisions but don’t have the time or desire to do it all alone.
- Budgeters who want to automate every aspect of their financial lives.
- People who like the idea of getting personalized advice whenever they need it.
How to Pick the Best Personal Finance Software For You
The best personal finance software is easy to use and helps you improve your money management. But with so many options out there, no single app or website is best for everyone.
As a result, it’s important for you to research these and other options and pick one that best serves your needs. Specifically, ask yourself how hands-on you want to be with the process and what kinds of tools and resources you’d need to make better decisions and stick with the program.
If you’re new to budgeting and feel overwhelmed by the process, it may be better to pick software that does a lot of the work for you. On the flip side, if you’re an experienced budgeter and enjoy getting into the weeds, choose an option that gives you more control.
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Whatever you choose, expect to put in a bit of time at the outset to get yourself up and running. “Investing time in the initial setup is crucial to having the system work for you,” says Crimmins.
After you get started, you may think your work is done. But the real challenge becomes checking in with your budget software regularly, even if the app does most of the work for you. “Once you’re all set up, make sure you actually look at the software,” Broadway explains. “Many people will take the time to set it up and never look at it again.”
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Most importantly, it’s crucial to understand that while the best personal finance software can help you make better decisions, it won’t, by itself, change your habits. As you take advantage of the different tools and resources available to you, use them to help you develop better spending and savings habits — so that eventually, making wise spending choices and sticking to a budget becomes second nature. It can take some time, but it’s time well spent.
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