Best Personal Finance App

There are quite a few things to learn when it comes to personal finance. It’s certainly not an easy subject to master. If you want to know more about this subject, you should look into the best personal finance app.

Have you ever requested for money? That is to say, you asked someone to lend you some money and settle that amount on a fixed date. If this is your first time of requesting for funds, you should probably try it out. This is because you need the best personal finance app to help you with tracking your savings and debts. There are many apps that can do this but it will be hard to choose the perfect one.

Quicken

REASONS TO BUY

+Fair pricing+Secure online backup+Desktop and app

REASONS TO AVOID

-Slender app versions-Rivals come cheaper

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 utilities 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. 

Quicken – Try it for 30 days risk-free!
Start taking control of your money with the Starter package at $35.99/yr, manage your money and save with the Deluxe option at $46.79/yr down from $51.99/yr, maximize your investments with Premier for $70.19/yr, down from $77.99/yr or manage personal and business finances all in one place with Home & Business at $93.59/yr, reduced from $103.99/yr.

Mvelopes

The traditional envelope budgeting system helps you stick to a budget by using envelopes to manage your money. Once you’ve broken down your budget, you put that amount of cash into different envelopes. So, if you budget $100 for gas for the week, you place that amount in a “gas” envelope. Once you’ve spent that $100, that’s it. Mvelopes takes this same approach to budgeting, except that it’s done digitally on your phone and computer rather than with physical cash.

Choose the financial goals that are most important to you, then add your bank accounts and set your income. Mvelopes will help you create a budget and set up your “envelopes.” The software tracks your spending and shows you what you’ve spent from each envelope to keep you on budget throughout the month.

The basic version starts at $5.97 per month, or $69 a year, with the higher-priced options providing additional features and coaching options. You can try Mvelopes free for 30 days, too, before deciding which plan is right for you.

YNAB

YNAB is short for ‘you need a budget,’ and it’s a program designed to help its users set one up. You’ll be walked through the process of allocating your money between different areas of your life and helped to stay on track.

This is great for people who are struggling with debt or managing their finances, but if you feel you’ve already got to grips with the basics of budgeting this may be unnecessary.

The software costs $84 a year, but you can take part in a 34 day free trial first and there’s a 100% moneyback guarantee. YNAB claims their software pays for itself, as users save an average of $6,000 in their first year.

As well as the software itself, you’ll get to take part in fifteen workshops to help you manage your money better.

Banktree

REASONS TO BUY

+30-day free trial+Supports multiple currencies

REASONS TO AVOID

-Can be a bit tricky to navigate-Needs their online banking subscription for syncing

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.

The desktop software comes with one year of updates and support, though you are restricted to one PC and there is a charge for any additional PC you want to run the software on. There’s also a browser-based version available.

Whichever version you opt for, there’s a 30 day free trial available, so you can try before you buy to get an idea if BankTree will work for you.

BankTree – Personal Finance
BankTree Desktop Personal Finance software is available now for just £35.00. We will provide you with free email support, and free updates, and bug fixes to the current version of BankTree Desktop Personal Finance version 3.0. You can install the software on one computer. Any additional installations are charged at just £5.00 per computer.

Mint

Mint is one of the most popular budgeting and expense tracking tools. You can have the software pull in your bank and credit card information to analyze your spending and pinpoint areas where you can cut back to improve your finances. For more accountability, Mint allows you to set up alerts for things like due dates and low balances to keep you on track. These features help you avoid expensive fees on late payments and overdrafts from your bank account. If you’ve set up budget categories, Mint will give you real-time information about the amount you can spend on things like food and gas. Mint is free to download and use on iOS and Android devices, as well as desktop.

Personal Capital

REASONS TO BUY

+Robust investment & retirement toolset blows competitors out of the water+Great educational offerings to truly understand your wealth

REASONS TO AVOID

-While it’s possible to add non-retirement savings goals, the guidance offered is thin

Price: Free app, with fees for wealth-management services should you choose to use them.

To be blunt: Personal Capital is what you graduate to, from Mint. Both personal finance managers are free, easy and friendly to learn and use, and will show you a comprehensive view of your finances. 

Personal Capital, though, has foregone budgeting and bill-payment tools to focus on next-level concerns. Features like its 401(k) analyzer, what-if Retirement Planner, and projected portfolio values are exactly what you need if you have the good fortune to arrive at the phase in which “How am I going to save some money” has become “What am I going to do with it all?” It’s next-level personal finance software, best for people who have gotten to that next level.

Money Dashboard

REASONS TO BUY

+Free+High security+Easy to use

The Money Dashboard 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.

There are apps available for Android and iOS, and surprisingly both are free to use.Money Dashboard – Popular money management
Over half a million people use the award winning Money Dashboard app, which makes it one of the most popular personal finance choices out there. It’s quick and easy to sign-up for free, which will allow you to explore all of the features and functions.

Conclusion:

There are some people who are quite good at managing their personal finance. But, there are some who are not even aware of the importance of it. So, the best way to manage your personal finance is by having a good app for it. These apps have different features that makes managing your finance less taxing on your part. So, you can easily keep track of all your personal expenses and earnings without getting stressed at all.

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