Best Personal Finance Software Options for Ultimate Money Management

• Author: Chris Remington
• Posted: 2024-07-05

Financial software is an important way to take the stress out of money management. Once associated with small businesses and large corporations, financial software programs are now essential tools for households facing the challenges of the upcoming decade. While some individuals may have relied upon online banking or phone apps, a comprehensive software program can provide a more complete picture of everything from spreadsheets to credit reports. A look at the top seven personal finance software options can improve the way you handle money.

BankTree

BankTree allows users to link to more than 2,500 financial institutions and credit unions in 55 countries around the world. With this software, you can immediately update balances, view recent transactions, and manage expenses on any credit card. Based in the United Kingdom, this software allows users to view accounts from anywhere and manage money in more than one currency. BankTree offers a seven-day free trial, and premium versions include international investing tools.

Mvelopes

The Mvelopes software program brings zero-based budgeting into the 21st century. Traditional zero-based budgeting requires that you store your budgetary allowance in an envelope and spend no more than that amount in any given month. The Mvelopes program allows you to do this online so that there is no room for error. Once you establish your monthly allowance and create your virtual envelopes, the software tracks your expenses and automatically updates each envelope. The software provides alerts if you approach monthly spending limits, and premium plans include monthly or quarterly coaching for help achieving financial freedom.

Buxfer

For visual learners, Buxfer is the best software program for organizing your finances into a format that is easy to understand. The software creates color-coded charts that provide the gist of your budget status at a glance. Users can also add tags to prioritize spending. For example, users can designate 50% of their tags on living expenses and then use the remaining tags for savings and retirement.

Mint

Mint has evolved into one of the most well-known personal fiance software programs. Rich in features and free to use, this software downloads directly to desktops and mobile devices. The app syncs credit cards, bank accounts, and investments to help you make timely payments and avoid late fees. Since Mint is also part of the financial services giant Intuit, you can also sync Mint with TurboTax so that you have immediate access to your purchase receipts when filing taxes each year.

FutureAdvisor

If you have heard the buzz about robo advising and want to give it a try, FutureAdvisor is an excellent place to start. This software analyzes your income to provide the most relevant recommendations for investors. The software is ideal for beginners or home investors interested receiving in real-time market data from the privacy of their homes. FutureAdvisor automatically integrates with both TD Ameritrade and Fidelity to keep your portfolio in the best shape.

Quicken

Known as the pioneer of personal finance software, Quicken has a solid reputation that spans three decades. This extensive infrastructure has created tools to manage the entire financial framework for your household. Quicken software tools include automated bill management, tax help, debt oversight, and investment planning. If you run a small business, you can also use Quicken to separate your personal budget from necessary business expenses.

Personal Capital

Personal Capital is a hybrid software program that provides investment management tools and real-time financial advice. This program allows you to manage all of your accounts in a single place. However, the software goes a step further by emphasizing retirement and providing data on the best way to reach your investing goals. Once your portfolio reaches the minimum threshold, you also qualify for a free consultation with an investment advisor. And since Personal Capital operates as a fiduciary (rather than a commission business), users can feel confident about receiving neutral data rather than finance marketing or gimmicks.

Tackling your personal finance strategy may feel overwhelming at first. But with the right personal finance software, you can create solid oversight that will benefit your budget outlook for years to come.