Personal Finance Software Comparison

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When it comes to personal finance software and apps, there are so many options that it’s difficult to sort out the most useful ones. Many of them have similar features, which makes it hard to know what sets one apart from another. In this article, we will talk about the best free personal finance software and the best free personal finance apps available on the market today.

If you’re looking to make better financial choices and save more of your hard-earned dollars, there are plenty of personal finance programs out there. In this article, I’ll be comparing 6 different personal finance software options to help you understand what’s out there and the best piece of software for your needs.

Personal finance software comparison is the process of determining which personal financial management software is best for you. Personal finance software comparison can be a difficult process, depending on the type of computer system you are using. If you are going to stick with one piece of free personal finance software, then it is important that you know what features are available to you before making your decision.

Personal finance software helps to organize your finances, keep track of budgets, tax information, and more. With a large variety of software available, it can be difficult to determine which program is best for you. The best way to make this determination is to compare personal finance software reviews on a site like Capterra. Here are three helpful tips when comparing personal finance software:

In-Depth Personal Finance Apps Analysis

Whether you’re looking for personal accounting software or a bill pay app, the software options listed here should have you covered. No matter what kind of service you need, there’s an app for that!

Here at Investor Junkie, we’ve tested and reviewed dozens of personal finance software options. In this guide, we’ll highlight the seven that we think are the best and share how they can help you manage your money.

Personal Capital — Best for Wealth Management

Visit Personal Capital

Personal Capital is one of the best personal finance apps on the market.

The service’s free budgeting tool allows you to track income, spending, and saving over time. It then breaks down your spending habits into categories, allowing you to view transactions by date, merchant, or vendor so you can analyze each purchase.

In addition to the budgeting feature, you can view your bills and credit card statements and project your spending based on minimum payments and due dates. And the best part is that all of the features are available for free within Personal Capital’s already free software.

Why it’s the best: On top of being a great budgeting tool, Personal Capital tracks your investments too. The icing on the cake? It does both for free! Pros:

  • Complete View of Your Finances
  • Powerful Investment Checkup
  • Support via Many Apps

Cons:

  • Asset Allocation Is Not Customizable
  • Budgeting Tool Needs Improvement
  • Cannot Reconcile

Open an account with Personal Capital

YNAB — Best for Budgeting & Money Management

Visit YNAB

YNAB color-codes your purchases and goals so that you can see when you are on track or are overspending (or underfunding a goal). It helps you define your financial goals and categories and assign each dollar a job. YNAB offers recommendations to help you reach the goals you set.

This money management software helps you manage your money and your bills by helping you look at them without all the negative self-talk. It teaches you how to plan for your bills and have the money for them when those due dates come up. The app is easy to use, and its system is all about building a healthy relationship with money.

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Why it’s the best: YNAB helps new budgeters set up and carry through with a complete — and more in-depth — budget plan. Pros:

  • YNAB Is All About Budgeting
  • Goes Beyond the Mechanics of Budgeting
  • Low Cost

Cons:

  • No Phone or Email Contact
  • Not a One-Stop Shop for All Things Financial

Open an account with YNAB

Facet Wealth — Best Financial Planning at an Affordable Price

Facet Wealth

Facet Wealth is a flat-fee service for those wanting to get the expertise of a financial planner. All of their financial planners are certified and are fiduciaries, which means they have a legal obligation to put your best interests above their own. Facet Wealth offers numerous services and we like that you can get all of your retirement, tax, insurance, and even life planning is done in one place. Plus they can manage your investment accounts for you. Pros:

  • Dedicated financial advisor- Clients are assigned to a dedicated advisor who works with them one on one. You can contact your advisor directly.
  • Fee-only fiduciary model – Predictable fees with a structure designed to put your needs first and avoid conflicts of interest.
  • Works with popular brokerages- Facet Wealth advisors can manage your accounts directly through four popular custodians.

Cons:

  • Pricing may be high for some people- While $100 per month for a financial advisor isn’t a bad deal, it may not be worthwhile for many people.

Experian Boost — Best for Helping Your Credit Score

Visit Experian Boost™

Experian Boost is a program created by one of the three major U.S. credit bureaus. It’s been proven to help 62% of users improve their credit scores fast. (Note: Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.)

Having a low credit score can negatively affect your life. Not only can a poor score prevent you from getting decent interest rates on a new credit card or loan, but it can sometimes even hurt your chances of employment.

Experian Boost works by factoring your utility and phone billing history into your credit score. It uses only positive information – so don’t worry if you’ve been late on a cable bill here and there. Plus, Experian Boost is free to use.

Why it’s the best: Experian Boost provides users with a free and easy way to potentially increase their credit score. Pros:

  • New Credit Scores Take Effect Immediately
  • FICO Score Tracking
  • 256-Bit SSL Encryption

Cons:

  • Not a Guarantee to Raise Your Credit Score With Any Other Bureaus

[/box] Open an account with Experian Boost

Quicken — Most Comprehensive Personal Finance App

Quicken Review

Quicken is the granddaddy of personal finance software. But over the years, it’s made some big changes.

Once upon a time, you had to go to the software store to buy an edition of Quicken. Now the software operates on a subscription model, so you just need to sign up and download it online. You’ll link and sync all of your accounts to your Quicken account.

Not only will Quicken display your full array of monthly bills (as long as the biller is one of the 11,000-plus companies in Quicken’s system), but it will send you alerts via the app and email, so you don’t miss your due payment dates. Quicken can also be used as a bill pay app.

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Bill Pay is offered for free to subscribers who choose membership at Premier or higher levels. You’ll get the initial 15 months for free (nearly a $150 value). Other Quicken users can sign up for Bill Pay for the price of $9.95 per month.

Why it’s the best: Quicken is the most comprehensive personal finance application available in the market. Pros:

  • Most Comprehensive
  • Strong Portfolio Management
  • Bill Pay

Cons:

  • Unknown Future
  • Synchronization Issues for Some Users
  • Poor Customer Service

Mint — Great Overall App

Mint.com Review

Mint built its empire by helping people get organized and stay on top of their money. It’s been around since 2006, and it is still one of the biggest names in the game. Mint.com is an excellent option for tracking spending and setting financial goals. You can easily set up a budget for each spending category, get email reminders when you approach or exceed that budget, and compare spending from one month to the next.

Mint organizes all of your financial accounts for you. It also creates a pie chart with all of the categories of spending you’ve done in the past month. Mint tracks your past monthly spending on a bar graph so that you can see in which months you spent more or less. The app automatically categorizes each purchase you make, though you should always double-check the categories to make sure they’re accurate. You can manually input cash spending.

Why it’s the best: Mint is excellent for simplified budgeting and goal setting. Pros:

  • Weekly Summaries via Email
  • Alerts via Email or SMS
  • Budgeting and Goal Setting

Cons:

  • Lack of Investing Features
  • Synchronization Issues

CountAbout — Best for Serious Budgeting

CountAbout Review

If you’re ready to get serious about budgeting, check out CountAbout. It won’t track your investments, and it isn’t a bill pay app, but this software lets you get down and dirty when it comes to analyzing your spending patterns.

CountAbout is one of the most customizable personal finance software options we’ve seen. You can build categories, create graphs, and even split transactions.

We also like CountAbout because it’s the only money management software option that lets you import your information directly from Quicken or Mint. So when you decide to switch to CountAbout, you don’t need to start from square one.

There’s a monthly fee to use CountAbout, but if you’re serious about budgeting, you’ll find this tool invaluable.

Why it’s the best: CountAbout is an incredibly customizable platform that can help you track and analyze your financial behavior. Pros:

  • Smartphone Access
  • Import Quicken or Mint Transactions
  • No Ads

Cons:

  • No Bill Pay
  • Annual Fee

The Credit Pros — Most Thorough Credit Management

The Credit Pros Review

The Credit Pros is not a quick-fix solution for a less-than-stellar score. Instead, it’s a system that works to change the way you think about credit as a whole

This personal finance software provides users with credit monitoring and repair tools. But The Credit Pros takes this bit further, with services such as dark web tracking.

There are several packages you can buy, depending on your credit needs. Packages range from $19 to $149 per month (the highest level comes with a guaranteed $1,500 line of credit).

Why it’s the best: If you’re serious about repairing your credit and keeping it impeccable, The Credit Pros can likely handle the job. Pros:

  • Transparency
  • Bilingual
  • Easy to Use

Cons:

  • Expensive
  • Limited Ways to Pay

PocketSmith — Best Financial Predictor

Visit PocketSmith

If you’re a control freak like me, you don’t like much uncertainty when it comes to your future finances. That’s where PocketSmith can help.

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This is a personal accounting software option that can not only help you track your current finances, but also predict what they’ll be in the future. It does this through its budget calendar, which is as easy to navigate as Google Calendar.

One feature that sets PocketSmith apart from the rest is the ability to create a budget at any time, for any amount of time. You have complete flexibility with your budget creation; there’s no need to wait for the beginning of the month. They also have a “Plan Ahead” feature that walks you through budgeting, financial forecasting, and creating what-if scenarios.

Right now PocketSmith has a 50% off promotion, so you can get two months of their premium service for half off! Just use the code: 50OFFPREMIUM-F4RG.

Why it’s the best: PocketSmith lets you plan for and predict your financial future. Pros:

  • Flexibility
  • Track One-Time Events
  • Create Your Own Categories

Cons:

  • You Won’t Master It in a Day
  • Free Version Is Limited

Choosing the right personal finance software

Before settling on a personal finance program, take stock of what you need it for and how you’ll use it. Everyone’s financial situation is different, and some of these programs may not suit all your needs.

Basic Budgeting
If you need to get a handle on your finances and track your spending, a basic budgeting option is probably suitable for you. A budget can be as simple or complex as you need. You may want to simply track your total spending overall, or perhaps keep tabs on how much you spend on certain things. Some people feel most comfortable with the envelope budgeting method, which involves setting money aside each month for specific items or goals. 

Goal-oriented Budgeting
If you’re budgeting because you want to save toward a goal, say a down payment on a home or for retirement, many of the programs offer tracking tools that let you set aside an amount each month and track your progress. Using personal finance software to manage your budget can help you identify the areas where you overspend or can most easily cut back as you attempt to reach your financial goals.

Tracking Investments
Not everyone invests money in the stock market, but if you do, you’ll need personal finance software that can cover the full breadth of your financial situation. Many of the programs we tested integrate with your financial firm and can at least give you a top-level look at your portfolio. However, the best personal finance software allows you to track your performance and compare your portfolio with the market. Investment tracking software tends to cost a bit more, so if you don’t have stocks to monitor, you’re best choosing the lower-cost software that should simply provide the budgeting features that you need. 

Conclusion

Personal finance software makes it easier to stay on top of your financial matters. The best personal finance software offers a comprehensive view of your financial life and gives you the tools to organize, plan, and track your finances. The personal finance software comparison chart is a great way to learn about different types and features of personal finance software on the market today. You’ll find out what they can do, how they work, and whether or not they’re right for you.

Personal finance software is one of the most widely used financial management tools. It helps a lot in keeping your finances organized, and also provides you with detailed information about your bank accounts and other assets.

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