Your 5 Best Personal Finance Software Options

Using a personal finance software means all of your financial data will be in one place.

This makes it a convenient tool to manage your money and even help you achieve your long term financial goals.

Let’s look more into how personal finance software can help you, and then we’ll introduce you to the best personal finance software out there.

We’re going to cover:

What Is Personal Finance Software?

Personal Financial software is designed to help you make sense of your money.

It’ll help you keep track of:

If you are spending your money well
How much you owe
How much money you have

There’s a lot of options out there when it comes to choosing a personal finance software.

So how do you find one that’s right for you?

Look for a personal finance software that fulfills your current financial needs.

For instance, if you’re struggling with creating a budget, there are personal finance software programs that will assist you with that.

You’ll even be able to find a software that’ll sync your financial accounts so everything will be in one spot.

What kind of financial accounts can you link up to your personal finance software?

Savings
Checkings
Loans
Credit lines
Credit cards
Investments

If you need help with savings, there are software options that emphasize this.

Let’s say you want to save for:

A down payment on your first house
A down payment for a car
A luxurious vacation
An emergency fund

Selecting a software that puts an emphasis on saving will help you accomplish these goals.

Some personal finance software will even automatically transfer money into your savings account. So, you’ll be able to start saving without thinking twice about it.

Pretty cool, right?

There’s also personal finance software to help you with your investments. Let’s say that you’d like to start saving for retirement. The software will help you build your portfolio and make trades without any issues. It’ll give you all the guidance you need, without leaving you feel overwhelmed.

There’s also personal finance software to help you file your taxes. It’ll break everything down into categories so you’ll be confident nothing will get overlooked.

But, that doesn’t mean it can’t be done.

Personal Finance Software Tools are divided into two categories:

Money Management Programs
Tax Preparation Programs

So, what do these programs entail?

Money Management Programs

Money management programs assist you with everything from household budgets, paying bills and keeping track of bank records all the way up to intervening in situations with creditors.

These programs are available online and in-store. You’ll install the software on your computer, so remember to backup your computer regularly to avoid losing everything in a crash.

Not sure which programs to look into?

Some of the most popular programs are:

Account Xpress
Quicken Starter
Microsoft Money

Tax Preparation Programs

Tax preparation programs assist you through the process of preparing your tax return. You’ll be able to file your taxes electronically to the state department and IRS through the software.

If you don’t want to shell out the money to get your taxes done, this is a great alternative.

Some of the most common programs are:

TurboTax
H&R
TaxSlayer

How To Choose A Program

You should choose a software program based on your needs.

Some programs are web based, where you’ll be able to save your data online. Others require you to install software on your computer.

Why should you do this?

You’ll want to make sure that the program really is user friendly so you won’t encounter a lot of issues. If it’s difficult to navigate right off the bat, it’ll be harder to manage your money appropriately. If this is case, stop and look around for another program so you don’t waste your money.

What Should A Personal Finance Software Have?

When searching for a personal finance tool, there’s a lot to think about. You’ll want to make sure that the software you select has all the features you’ll need.

Here are a few things to consider:

How much are you willing to pay?
- Most finance tools offer free versions. If you want to add extra features you can do it through a premium version for a fee. Take a look at these fees and verify if they fit into your current financial status.
If there are any account restrictions?
- Verify if they have a limit on the number of accounts that can be added. Let’s say that you have multiple accounts:
  - Credit cards
  - Investment accounts
  - Checking accounts
- You want to make sure that you are able to add all of the accounts you currently have. If the system does not support this amount of information, it might be best to keep searching.
Does it have reports that show your spending?
- Make sure that the software you select breaks down all of your spending into different categories. Some programs will generate charts and graphs. These are a great way to visualize your spending so you can make the necessary arrangements. Some of these programs will allow you to customize the reports, this way they’ll fit your financial goals.
Does it show you, your credit report?
- If you want to have a full view of your financial status, having your credit score as part of your software is a plus. Some personal financial software will help you stay on top of your credit scores by providing either weekly or monthly updates. Some even have simulators that will help you see what will happen to your credit if you make certain financial decisions. See the impact that financial move will make on your credit score could make it or break it to you.
Do they offer any customer service?
- FAQs are helpful, but sometimes you will need more than that. Does the software you’re considering offer you any customer service? You need to be able to receive additional support in case you have further questions. A customer service line is definitely a big plus when it comes to choosing a personal finance software.

It doesn’t take much to manage your #finances even on a tight #budget. Check out these tips on saving #money: https://t.co/P2jwXdkDxo #debtfree #getoutofdebt #moneymatters #moneymoves pic.twitter.com/YkKJqt07j4

— Get Out of Debt (@getoutofdebtcom) May 23, 2018

What Are The Benefits of A Personal Finance Software?

There are a ton of benefits that come with using a personal finance software.

With a personal finance software you will have:

No late payments
Easy account reconciliation
Easy budget planning
Manage your financial goals
Easy tax filing
Access to pay bills online under one system
Easy tracking and analyzing of investments
Avoid financial mistakes
Monitor your credit scores
Budget tracking / Expenses

As you can see, there’s a lot of benefits to using a personal finance software. And all of these benefits will help you keep yourself on track.

If you’re in the need for financial monitoring and stability, a personal finance software is the best option for you.

So, let’s get right into our top choices.

5 Best Personal Finance Software

Budgeting

Mint

Mint Offers:

Track Bills
Easy budgeting
Free credit score
Alerts and advice
Simple categorization
Investment tracking
Security

All of these services are free when you sign up with Mint.

If you’re interested in monitoring your credit, you’ll have the option to join the Mint Credit Monitoring Program for $16.99 a month.

Quicken

Quicken Offers:

View all accounts in one place
Create a budget and manage your bills
Manage your money on the go across desktop + web + mobile
Create savings goals
Free online bill payment
Priority access to customer support (a $49 value)*
Simplify your taxes and investments
Best value
Separate and categorize business and personal expenses
Email custom invoices from Quicken with payment links
Simplify and track your business tax deductions and your profit & loss

These features from Quicken will depend on the package that you select.

Quicken personal finance software starts at $34.99 a year.

YNAB: You Need A Budget

YNAB Offers;

Bank Syncing
On the Go (Mobile App)
Debt Paydown
Goal Tracking
Reporting Bliss
Personal Support

YNAB offers a free trial for your first month.

After that, the price starts at $6.99 a month.

Taxes

TurboTax

TurboTax will break down your income and expenses to help you submit your taxes.

It’ll ask you:

If you want to maximize deductions and credits
If you have a job
How many dependents
If you pay rent
If you donate to charity
If you are self employed
If you own a business
If you’ve paid out of pocket medical expenses
If you are a homeowner
If you have sold stocks or rental properties. etc….

All of these questions will help the program make a recommendation on the best options for you to provide the biggest return possible.

TurboTax starts at $0 for a simple tax returns like a 1040EZ or 1040A.

If you’d like to maximize tax deductions and credits, you’ll want to look at the next tier up. This software starts at $59.99.

Investing

Personal Capital

Personal Capital Offers:

All Your Accounts in One Place
Dedicated Financial Advisors
Personalized Investment Strategy
Advice On Your Full Financial Picture
Smart Indexing
Fully Customizable Portfolios
Full Financial Planning
Tax Loss Harvesting
Free 401k Fund Selection Advice

Personal Capital is a personal finance software that will assist you with making investments.

Conclusion

When choosing a personal finance software, the most important factor is that it fits into your current life. It should be able to accommodate to your needs so you can achieve the goals you’ve set out to accomplish.

That being said, there’s a lot of options out there when it comes to personal finance software.

So look around, and make sure you’re getting the one with features you need most.

We hope this information will help you make a smart selection to put you one step closer to a stable financial future.

Have you tried a personal finance software before? Let us know in the comments!

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