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The Best Personal Finance Software
Ready to get a better understanding of your finances? Personal finance software can be a great tool for building better money habits and learning how to budget in the long term.
If you’d like more guidance when making a budget, consider also downloading a budgeting app.
Here are four excellent options you might consider if you’re searching for personal finance software.
Best for a Detailed Budget
Quicken Simplifi
Fees
$3.99 monthly subscription or $47.88 annual subscription
Annual Percentage Yield (APY)
N/A
Minimum Opening Deposit
N/A
Bonus
50% off for new customers
- Connect all your bank accounts, investments accounts, and credit cards
- Help you save for individual savings goals
- Create a budget
- Track expenses
- 30-day money-back guarantee
- Must buy a subscription (no free option)
Product Details
- Up to 50% off on Simplifi for all new customers
- Stay on top of your finances in under 5 minutes per week.
- Check your custom budgeting plan — anytime, anywhere!
- Track your spending
- See where your money is going and discover places to save.
- Keep your bills in check
- Find subscriptions you don’t use and start saving from day one.
Cost: Regular pricing is $5.99 per month
Why it stands out: Quicken Deluxe is a desktop software program. It’s available for download for Mac and Windows computers.
With the program, you’ll be able to connect and keep track of bank accounts, investment accounts, loans, and credit cards. You’ll also be able to create a 12-month budget. Usually personal finance software programs only have monthly budget plans.
Quicken Deluxe also has a “what-if” tool that lets you see potential scenarios when you make certain investments or loan decisions to help you build a financial plan.
What to look out for: Quicken Deluxe primarily focuses on basic finances and investments. If you have a business or prefer more robust features, like priority customer support, you may fare better with Quicken Premier or Quicken Home & Business.
Regular pricing for Quicken software plans varies from $3.99 per month to $10.99 per month.
Best for Tracking Investment Accounts
Empower Personal Dashboard
- Free financial and wealth management tools; fees top that of traditional brick-and mortar-firms
- Investment selection includes stocks, ETFs, bonds, and private equities; portfolio management for employer-sponsored plans (e.g., 401(k)s or 403(b)s)
- Socially responsible investment strategies and tax optimization strategies
- One-on-one financial advisor guidance
- High management fees
Product Details
- Promotion: None at this time.
Cost: Free
Why it stands out: The Empower Personal Dashboard is another software tool that’s available through a mobile app or website. You might find the Empower Personal Dashboard appealing if you want to use a well-rounded platform that also helps monitor investment accounts and retirement plans.
With the Investment Checkup feature, you can check your current portfolio allocation alongside an ideal target allocation to minimize risk and reduce volatility. It also has a fee analyzer tool that reviews hidden fees for mutual funds, investment accounts, and retirement accounts.
What to look out for: Some tools are exclusively for Empower advisory clients. For example, clients will have access to a financial roadmap tool that can help them stick with major financial goals.
Sign up for Empower Personal Dashboard
Best for Taxes
TaxAct
Fees
$0.00 – $99.99 (+$39.99 or $59.99 for state return, depending on package)
- Expert help is available with every filing package
- Free federal and state filing covers student and child tax credits
- Pay less than H&R Block and TurboTax and get a comparable experience
- Efficient and streamlined interface
- Tax document upload and import for easy data entry
- Handy “double check” tool flags common errors
- State returns aren’t free, even when you qualify for free federal filing
- Middle-of-the road option when it comes to cost
Product Details
- 4 plans, including a free federal option
- Simple, intuitive interface
- Free, instant access to a tax expert at all plan levels
- Good middle-of-the road option on price and efficiency
- Option to have a professional file your taxes at an additional cost
Cost: $0.00 – $99.99 (+$39.99 or $59.99 for state return, depending on package)
Why it stands out: TaxAct is one of our best tax software picks. TaxAct has four DIY online options: Free, Deluxe, Premier, and Self-Employed plans. You’ll pay one price for a federal tax return, and if you have to file a state tax return you’ll pay an additional fee.
TaxAct stands out from other tax software companies because it offers free expert support, regardless of which DIY plan you have. If you have questions while filing your tax returns, all you’ll need to do is submit questions, and an expert will reach out to you over the phone.
What to look out for: Other tax software companies do not charge a fee for state returns, and they have lower fees for filing federal tax returns (although, their features may not be as robust).
File with TaxAct
Best for a Hands-On Approach
Google Sheets
Cost: Free
Why it stands out: Perhaps you don’t want to link all of your bank accounts or credit cards, and you don’t mind taking a more active approach to money management. Then, you might consider using Google Sheets for a straightforward way of analyzing your spending and savings goals.
Even those who aren’t as tech-savvy will find that Google Sheets has a simple, no-fuss setup process. All you need to do is set up a Google account and open the Google Spreadsheets tab. Then, you can select a general template for budgets or investment tracking and follow the steps listed on the spreadsheet.
Keep in mind that you’ll have to update your spreadsheet regularly to have an effective spreadsheet.
What to look out for: Creating and maintaining your budget fully depends on whether you’re willing to manually input all your data. Some may like having a closer, more hands-on approach to tallying expenses or tracking changes. But if you’re worried that it might become too overwhelming to make updates every month, consider one of our other options.
Other Personal Finance Software We Considered That Didn’t Make the Cut and Why
- Tiller: Tiller might be worthwhile if you prefer tracking money in a spreadsheet, but don’t want to update it manually. It links your bank accounts and credit cards to Google Sheets or Microsoft sheets so your transaction and balance information automatically update. It wasn’t a top pick because Tiller only has a 30-day free trial, then costs $79 per year.
- YNAB App: You may use YNAB App through the web or on an app. While it could be a good choice if you struggle with your spending in specific categories, Quicken Deluxe have more robust features. It also has a 34-day free trial, then you’ll have to pay $14.99 per month or $99 annually.
- Monarch Money: Monarch Money is a personal finance app and online platform. The plan costs $14.99 per month or $99.99 per year and allows you to track investment accounts or use customizable budget categories.
- GNU Cash: This is a free accounting software for personal and small business finances. You may download the program for Windows and Mac devices. With GNU Cash, you manage your finances through a traditional checkbook system. It could be worth considering if you have a business, but for those who don’t, it likely won’t be an easy-to-use interface.
- Quicken Simplifi: Simplifi by Quicken is a cloud-based software program, which means you’ll need to have an internet connection to use its services. In comparison, other Quicken programs can be downloaded onto your computer. Simplifi by Quicken also isn’t as robust as Quicken’s desktop programs.
- Quicken Starter: Quicken Starter could be worthwhile if you want a basic overview of your finances. But if you want to be able to create a 12-month budget or keep track of investment accounts, Quicken Deluxe will be a more compelling option.
- Rocket Money: Rocket Money has an app and online platform. Its premium plan has concierge services to review bills, premium customer support, unlimited budgets, and customizable budget categories.
- TaxSlayer: TaxSlayer was featured as the best budget pick in our best tax software guide. However, to qualify for the Simply Free Plan, you must have taxable income under $100,000, and you won’t be able to claim dependents. TaxAct’s free plan allows you to claim dependents. It also offers expert help with all filing packages.
- H&R Block Tax Software: H&R Block is also featured in our best tax software guide. If you want to choose a more affordable option, you may prefer TaxAct, though.
- TurboTax: TurboTax is featured in our best tax software guide and might be worth considering if you have a complex tax situation. However, TurboTax Premium plan cost more than TaxAct options.
Methodology: How did we choose the best personal finance software?
Research is an important part of choosing a personal finance software program that fits your needs. First, we compiled a list of 13 personal finance software programs. Then, we compared each program by analyzing the following criteria: platform accessibility, pricing, money management features, and user experience. With tax software programs, we only considered the DIY online filing options. We did not consider full-service packages where an expert helps with taxes.
Frequently asked questions
The best personal finance software for you depends on your financial goals and habits. Someone new to money management will likely want different features than someone who is seasoned in making budgets or prefers filing their taxes.To help you figure out which personal finance software program could be a good option for you, we highlighted the benefits and limitations of each product.
There are free personal finance tools that you may use online. For example, Empower, GNU Cash, and Google Spreadsheets are free. Rocket Money also has free option.
What personal finance software is easiest for you will largely depend on your needs and level of comfort with technology and finance. Google Sheets is by far the easiest to set up, but it won’t help you with the finance side of things. Conversely, something like Quicken Deluxe might not be as easy to set up, but it is far more helpful for your finance needs.
