Using budgeting software is a great way for you to master the basics, become more efficient at managing your money. They also help you discover ways to meet your long-term financial goals. According to FINRA’s 2018 National Financial Capability Study, 58% of respondents don’t use any form of technology to help with their budget. 55% of them saying they aren’t saving money. Choosing the best personal finance software depends on your current financial needs. Our list of the best personal finance software includes free and paid options based on various financial goals. So take a look and get your finances in order in no time.
8 Best Budgeting Software Options
- Quicken: Best Overall
- Mint: Best for Budgeting
- YNAB: Best for Habit Building
- Mvelopes: Best for Zero-Based Budgeting
- TurboTax: Best for Taxes
- FutureAdvisor: Best for Investing
- Personal Capital: Best for Investment Advice
- Tiller Money: Best for Spreadsheet Management
Best Overall: Quicken
Quicken has been around for decades, and it’s one of the most well-known personal finance applications. You can use the software to manage various aspects of your financial life. From budget creation to debt tracking, savings goals, and even investment coaching. With a single-click on your smartphones, they are able to see the entire picture of their finances and spending.
One of the more advanced features includes bill paying, which allows you to set up payments for your bills right from the software. You can even use it to track the value of your assets to have an accurate calculation of your total net worth. The app is robust enough to manage both your personal and business expenses. It even handles property management functions like rental payments from tenants. The software starts at $34.99 and is available for Windows, MacOS, iOS, and Android.
Best for Budgeting
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. So you can 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.
Best for Habit Building
You Need a Budget, or YNAB, is a personal finance software that’s aimed to help you improve your financial literacy as you manage your monthly budget. As you create your budget and manage your daily finances, the software provides you with tutorials that will help you tackle some of the tougher financial topics. If you’ve been struggling with bad financial habits, YNAB can help you break those through a few basic financial management rules.
The software automatically links to your bank account, integrating your spending information for analysis and budgeting tracking. You can keep tabs on how you’re tracking toward your monthly budget and take action if you’re overspending. It doesn’t include any investment tracking capabilities. YNAB offers a 34-day free trial that allows you to use the software while you decide whether it’s right for your personal finance goals. The full software is $11.99 per month or $84 a year.
Best for Zero-Based Budgeting
Mvelopes is a web-based personal finance software that takes the traditional envelope budgeting method to the next level. By using digital envelopes to manage your budget and cash flow. Goodbye paper envelopes
Gain control over finances and recover as much as 10% of your income from hidden spending. Create peace of mind as you get a real-time view of all your accounts and transactions with anytime/anywhere secure access in one simple tool. Build financial freedom by eliminating existing debt and increasing savings.
The basic version starts at $6 per month, or $55 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.
Best for Taxes
TurboTax is tax preparation software for the United States and Canadian tax returns. The software offers a user-friendly interface for processing and electronic filing of tax returns for individuals and businesses. On the higher end, TurboTax Live connects you with a CPA or Enrolled Agent to give you personalized advice and answer questions about your tax return. Paid versions of TurboTax include a feature to help you uncover deductions you may not have known were available to you.
Best for Investing
If you’re a DIY investor looking for low-cost access to a financial advisor, FutureAdvisor is a great option. The investment software provides personalized recommendations to help you diversify your portfolio, which you can follow or not follow as you see fit. You’re eligible to sign up for the software if you have at least $5,000 in investable assets. FutureAdvisor manages the assets you transfer into the account for a flat annual fee of 0.5% of the managed assets, billed quarterly at 0.125%. When you transfer your assets into the account, FutureAdvisor works to consolidate them into accounts with its partners, Fidelity or TD Ameritrade.
Best for Investment Advice
Personal Capital allows you to manage all your financial accounts in a single platform. You can include your bank accounts, mortgage, and other credit accounts, plus your investment accounts, to have your complete financial picture right in front of you. If you have multiple accounts—as most of us do these days—using Personal Capital can save you from having to switch between multiple screens to understand where you stand.
If you have a portfolio of more than $100,000, you can get personalized financial advice based on your goals. While you’re charged a fee for this service, the financial advisors are obligated to provide you with advice that works in your best interest.
Use the software to tell whether you’re on track with your retirement and other investment goals. Even if you’re not quite ready to take advantage of the financial advisor, you can use Personal Capital to track your finances and investments in one place. The core software is free, but there may be fees for additional features.
Best for Spreadsheet Management
Tiller Money lets you see all your money in one place by automatically updating your checking, credit card, loan, investment, and other account data into a customizable Google Sheet or Excel template. Tiller Money lets you choose from templates that organize your data for you or you can customize your spreadsheet to suit your needs. It’ll also send you daily emails with a summary of your recent transactions and balances. The service costs $79 per year or $6.59 per month, but you can take advantage of the 30-day free trial to decide whether it’s right for you.