Best Free Personal Finance Software Canada

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There was a time when using online personal finance software was reserved only for the rich. The rest of us were stuck with pen and paper or using an expensive software package. That’s no longer the case, as there are many high-quality personal finance programs available. There are also some excellent free ones too. If you’re looking for a way to get your personal finances under control, here’s a list of the best free personal finance software Canada has to offer in 2018…

Personal finance is such a broad area, it is difficult to talk about it in one article. Fortunately for you, I am not trying to do that. In this free article, I will only focus on the financial software. There are many different personal finance software programs online and offline you can use. But each software has its own pros and cons. I will try to mention each of them and compare these programs to help users choose the right program according to your requirements.

If you have personal expenditure and have never used a personal finance software, then you can get confused about what to use and how to use it. Here we share expert advice on which Personal Finance Software to choose from a variety of online resources that will help you manage your money more efficiently, so you can meet your financial goals.

Personal finance software is essential for everyone who has bills to pay and stuff to buy. In other words, that’s all of us! So it’s a good thing that there are so many great personal finance apps available in Canada. They aren’t just convenient—they make life better by helping you improve your credit score, increase your savings, and take control of your finances. We’ve rounded up the best personal finance software in Canada right here.

What Is Personal Finance Software Canada?

Personal finance software programs are designed to help the everyday person improve their financial planning, budgeting, and investments, and monitor their finances in one spot. These platforms can make finances more accessible and easier to organize while also helping you keep up with your personal learning growth. 

Many personal finance software Canada programs also offer financial advice that can help direct you towards significant decisions. 

Moneylover

Moneylover is a free personal finance software that allows you to track your expenses and income. It includes features such as budgeting, tracking, and analyzing your spending habits.

Moneylover allows you to create budgets based on categories, save money by allowing only certain amounts of money being spent within those categories each month or year, and track all past transactions with an easy-to-use interface. The software also has a feature that allows users to analyze their spending habits over time so they can make better decisions about where their money should go in the future.

Mint

Mint is a free personal finance software that helps you track your money, get smarter with your spending, and save more money. Mint is available as an app for iOS, Android and Windows Phone devices. It’s also accessible from the web at mint.com

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The app can connect to over 6500 banks and credit unions in Canada to help you understand where all of your money comes from and where it goes. You can also set up budgets within the app to keep track of how much money you have left over each month, so no more stressing about whether or not there will be enough left for next week’s grocery bill!

PocketGuard

PocketGuard is a free personal finance software for Windows, Mac and Linux. It offers one of the most attractive user interfaces you’ll find in any personal finance software, providing a beautiful dashboard that lets you see all your accounts at once. The app also provides excellent tracking features and reporting tools to help you get a handle on your spending habits.

PocketGuard’s main attraction is its interface: It’s easy on the eyes and intuitive enough for anyone to figure out without much trouble. The app’s main screen displays all of your financial accounts at once in an attractive table format; simply click an account name to drill down into it further with subcategories like “available balance” or “payees” where you can view more details about each transaction (see how PocketGuard works).

Wally

Wally is a personal finance management tool that helps you make better financial decisions. It’s available for free on the web and on iOS and Android devices.

Wally is an all-in-one money tracker, budgeting tool and goal planner that allows users to put their finances in order with ease. The interface is simple, clean and easy to understand — no jargon or complicated terms here!

You can use Wally to track all of your transactions (credit cards, debit cards, cash transfers) in one place; set up budgets for each category of spending; create savings goals; set up recurring bill reminders; receive alerts when due dates are approaching or bills are paid off early; track loan payments such as mortgages or car loans/leases along with credit card payments; view summary graphs showing how much money has been spent per month out of what was budgeted per month (and vice versa); drill down into specific transactions details like dates purchased/delivered, etc.; export reports into Excel format via CSV files:

YNAB

YNAB is a budgeting tool that helps you see what you have, where it’s going, and how to make the most of it. It also includes a tracker for all your spending so you can see what’s coming in and out of your bank accounts.

In addition to tracking your expenses, YNAB helps users set financial goals like saving money each month or paying off debt within three years. The app also has a feature where users can add transactions directly from their bank accounts (if they are connected through Mint), making the process more efficient than manually entering every transaction into YNAB manually.

The free version of YNAB offers monthly expense tracking with no limit on frequencies or number of transactions entered per month; however, there are some limitations on other features such as reporting tools if used for business needs rather than personal use only. If all this sounds good but buying credits seems too expensive at $6 per month/monthly fee plus another $5/month/user added later down near the bottom line after hitting the “buy now” button upon checkout page when purchasing subscription plans with PayPal credit card link provided by the vendor itself via email further down page under non-ad banner ads surrounding header image header text header subtitle header tagline etc…

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STACK

The STACK Mastercard and app is a free, cross-border prepaid card that triples as cashback, savings, and budgeting app with rewards on all purchases.  

It has a simple, intuitive interface that is designed to help you manage your finances. You can set up personal goals with the app’s budgeting feature and make automatic savings. 

STACK personal finance software gives you access to all its financial features at no cost when using its Mastercard. 

Pros

  • Zero fees
  • You earn cashback on purchases
  • Automated savings through roundups
  • It offers a free weekly and monthly spending analysis that provides insights as you go.

Cons 

  • The personal finance app also lacks personal planning tools such as bill reminders, budgeting, and retirement planning features.

Checkout 51

Are you looking for ways to save on groceries? There’s a cash-back app worth checking out – Checkout 51. The free app offers every week that are on your shopping list from the grocery store.

Simply shop at your favorite store as you usually would usual, and then upload your receipt through the app to get the cashback advertised for each one of your purchases. The cashback discounts can go up to 30% on some items.

You will receive a credit to your account when you collect $20 or more in cashback. The Checkout 51 app is available on iPhone and Android.

Pros 

  • No fee is associated with using Checkout 51
  • Every week there are new offers. With over 100 brands, there are always new deals waiting for your next grocery shopping trip. 
  • You can find exclusive coupons and offers from your favorite brands right on the app.
  • It has a personal finance tool that tracks your spending on groceries and gives personal finance tips to help you save even more money on groceries. 

Cons

  • Some of the cashback opportunities expire before their time. 
  • It’s challenging to keep up with how much time you have left on each offer from week to week.

Wealthsimple Roundup

Wealthsimple is one of Canada’s most popular Robo-advisor. The app has a roundup feature that takes your spare change to invest in a low-cost ETF portfolio. Wealthsimple allows its customers to invest their money in a portfolio that is managed automatically. It saves you time and energy while earning your business higher returns.

Pros

  • Multiple accounts including RRSP, TFSA, RRIF, and joint or corporate accounts
  • Diverse low-cost portfolios
  • Automatic deposits and portfolio re-balancing
  • It allows dividend re-investing
  • CIPF insurance up to $1 million
  • It offers free financial advice
  • Low management fees around 0.40% to 0.50% a year

Cons 

  • You can’t get a personal financial plan
  • This personal finance software is only available in English and French. If you don’t speak either one of these languages, it might be hard to use Wealthsimple personal finance software in online mode.
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Moka (formerly Mylo)

Moka personal finance software has a personal savings feature. Purchases are automatically rounded up to the nearest dollar and saved with every purchase you make. It will analyze your finances, calculate the cost of living and save for future spending.

The innovative app allows you to set up personal goals and monitor your progress towards them.

Pros

  • It has a personal spending and savings tracker to help you track how much money you are saving for goals.
  • Moka personal finance software has an option that allows you to save on expenses, travel, and more. 
  • You can watch your balance grow with every purchase.

Cons

  • It doesn’t have Robo-advisor or a round-up investing feature.
  • You don’t get advice or recommendations based on your personal profile. 

Best free personal finance software Canada.

Moneylover – This is a good option for those who want to keep their personal finance in one place. It provides a budgeting feature that helps you set goals and stay on track with your finances. It’s easy to use and has an interface that is similar to other software programs, making it familiar for new users.

Moneylover also allows you to sync your bank accounts so you can see what is happening with all of them at once. Any changes made in the app will be instantly updated in Moneylover too so there’s no need for manual entry or double-entry errors which could happen if you were using another platform that doesn’t integrate well with whatever bank account management software you use elsewhere online (e.g., Mint).

Mint – Mint has been around since 2007 so it has had plenty of time to refine its product offering over time based on user feedback from millions around the world who have used their services over these past 12 years already! They offer both free basic plans as well as paid premium options which give users access

How to Choose the Best Personal Finance Software for You

Managing one’s money requires long-term commitment, so don’t settle for what may be helpful at the moment but will not last. Don’t be afraid to explore various personal finance software tools. All of the software mentioned here has a trial version, and we recommend taking advantage of it.

When choosing a personal finance software, consider who you are as an individual and your financial goals. Do you want something that requires little investment or one that is deep enough to pull you in? Then take 2-3 tools for a test run to see how they function in real-world situations.

Make a list of questions you want to be answered, such as:

  • What is the right monthly savings to meet my retirement goals?
  • How can personal finance software help me achieve more personal/family goals?
  • How long would it take me to pay off my credit cards if I increase my monthly payment by $50?

Conclusion

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