Personal financial management software and apps can help you master the basics, improve your money management skills, and even find ways to achieve your long-term financial goals. Choosing the best personal finance software depends on your current needs.
For example, you just took a loan at payday depot, and you want to make sure you’ll pay the money back on time. For this reason, you can use one of the financial tools listed below without being worried about the due dates!
Quicken has been around for several decades. It is one of the most popular personal financial management tools on the market that can monitor both your personal and business expenses. With the help of Quicken, you can easily manage different aspects of your finances - from budgeting to debt tracking. You can even set up bill payments directly from the app. The price of Quicken starts at $34.99, and the app is available for Windows, Android- and Apple-based devices.
Mint is another popular budgeting and expense tracking tool. The software can use your bank and credit card information to analyze your expenses and identify areas where you can cut back spending. All of these features help improve your finances. Mint lets you customize alerts for things like due dates and low balance. This way, you won’t go astray and can avoid costly fees for late payments and overdrafts. Mint is a free tool available on iOS and Android devices, and it has a desktop version, too.
YNAB (You Need A Budget)
The main purpose of YNAB is to improve your financial literacy while managing your monthly budget. As you control your day-to-day finances, the app provides you with various tutorials on how to deal with some of the more complex financial issues. If you are struggling with bad financial habits, YNAB can also help you get rid of them once and for all. The full version costs $11.99 per month or $84 per year. But you can try out the software for free first as it offers a 34-day free trial.
If you’re looking for low-cost access to a financial advisor, FutureAdvisor is a great option. This tool gives you advice on how to diversify your investment portfolio. However, you can use FutureAdvisor only if you have investment assets of at least $5,000. The software manages the assets that you transfer into the account for a flat annual fee of 0.5% of the managed assets, billed quarterly at a rate of 0.125%.
You may not necessarily need TurboTax to manage your finances all year long. But when it’s time to pay your taxes, the tool can come in handy. Entering tax information is quite simple: you just import the W-2 information from your employer or take a photo, and the TurboTax will transfer the information into the form. The basic version allows you to file federal and state returns for free if you only use Form 1040 without any supporting schedules. The paid version also includes a feature to help you uncover deduction opportunities you probably never knew were available!