We found the best personal finance tool on Mac is Empower (FREE) which blows Quicken out of the water when it comes to investment tracking and even better, is free to use with no subscription or commitments.
Or it can be used to assess how your immediate finances could be improved if you get a lump sum and eliminate expensive premiums by getting an estimate on selling your life insurance policy.
If Cloud based apps are not your thing and you want a dedicated Mac desktop app, Moneyspire 2022 (formerly Fortora Fresh Finance) is an excellent no-nonsense personal budgeting software for both Mac and Windows.
Even better, at the moment, Moneyspire is 25% off at just $59.99 compared to the normal price of $79 which is definitely a good deal for a desktop personal finance software for Mac on this level.
Like many personal finance apps, Mint can take time to update your balances and transactions and can be affected by changes made by your bank to the way third-party apps communicate with it.
Because of the way it approaches budgeting, YNAB has proved very effective at helping users to save money and get their finances in order which is made it very popular with Mac and PC users alike.
Unlimited number of accounts in one place (checking, savings, credit card, etc).Setting transactions as recurring or as one-time only.Balance change history.Additional fields for organizing your records including payee, description, check #, class (personal/business travel expenses).Attachment of receipt photos.
You must keep a close eye on your income, expenses, budget, and investments. Your credit score is also an essential part of the equation, especially if you plan to take on debt. The best personal finance software helps you track your money to make better, more informed decisions about spending and credit. Many are free, and the rest are reasonably affordable. We tell you about the best ones here. Click through for an in-depth review of each, and see advice on how to choose the right personal finance software toward the end of this article.
Mint has been the gold standard for personal finance websites for years, thanks to its simplicity, usability, and smart financial tools. It lets you connect to all your online finance accounts, check your credit score, create budgets, and get a good estimate of your net worth, among many other financial management tasks. Furthermore, Mint is free, so you can try it without obligation.
Mint is for everyone. Its ease of use, creative presentation of data and tools, and smart personal finance features help virtually everyone keep a close eye on their money. Mint lets you track and manage your income and spending, budgets, savings goals, and investments. It's both simple and comprehensive, so it appeals to both financial novices and seasoned money managers.
NerdWallet arms consumers and small businesses with the tools, information, data, and insight they need to make financial decisions and improve their financial health. This content takes two primary forms: articles about personal finance, and offers for credit cards, mortgages, and other financial products. Like many of the best personal finance apps, NerdWallet lets you track your net worth and cash flow, as well as learning about your credit score.
Moneydance is great for people who will make use of its extensions(Opens in a new window). For example, one extension enables financial forecasting and another lets you import transactions from a PayPal Business account. Beyond extensions, Moneydance appeals to people who want to do online bill-pay through their personal finance app at no charge except for possible bank fees (depending on your financial institution). People who are looking for an alternative to Quicken would also like Moneydance. It's also great for people who use Windows, Mac, or Linux.
Personal Capital has some personal finance features, but it mainly focuses on investments and retirement planning. The service offers numerous views of your holdings, gives sound personalized advice, and makes retirement estimations. It has some transaction management and cryptocurrency-tracking features, too. Personal Capital helps you see how what you do today affects your ability to retire when you want. It's free. Its user experience is outstanding. And it offers the option of adding investment and retirement planning if you pay for those features.
All the personal finance apps and services we review have a variety of features and functions, but they share common characteristics. For example, most of them support online connections to your financial institutions. That is, you can download cleared transactions and other account data from your bank accounts, credit card accounts, brokerages, and other financial institutions, and see all of the data neatly displayed in the applications' registers.
The personal finance apps we reviewed are all safe to use. The ones that connect to your financial accounts, like Mint, use encryption and other safety measures on their side to keep your login information protected. However, you must also do your part to make the experience safe.
After importing a batch of transactions from credit card and bank accounts into a personal finance app, most people spend some time cleaning up the data. Transactions need to be correctly categorized as income (salary, freelance payment, and interest, for example) and expenses (food, mortgage, utilities, and so on). Most apps guess the categories, but you can always change them, and you can split transactions among different categories.
Some personal finance apps let you add notes and attach files. If you bought something with cash, though, your bank won't have a record of it. In those circumstances, you can manually create a transaction. The best personal finance app for this kind of transaction management is Quicken Deluxe.
Another reason it's helpful to see a list of all transactions across all your accounts in a personal finance app is that if there's spending you didn't authorize, you can see it as soon as you log in. The sooner you catch an unauthorized transaction, the quicker you can alert your bank and cut off access to the account.
Every personal finance service we review has a dashboard you see when logging in. Sometimes the dashboard is the only screen you need to see because it displays the most pertinent information about your financial situation, such as your account balances and pending bills.
Basically, this overview shows you snippets and highlights of the data analysis these services do behind the scenes, with options to dive deeper. Click a checking account balance in Mint, for example, and you'll go to the transaction list for that account. Click your credit score in Credit Karma to learn what contributes to it and how it's recently changed. In short, the dashboard of your personal finance app gives you a quick look at your money situation and is a springboard to a deeper financial study.
Quicken Deluxe considers a budget to be a comprehensive table that contains all categories. The software also lets you view your budgets by a variety of time periods (monthly, annually, and so on). It also provides tools to help automate your data entry.
Setting goals, such as establishing an emergency fund, isn't rocket science. With a personal finance app, you specify the amount you're trying to save and the target date for achieving it, and the application tells you how much you have to save every month to meet your goals. Some sites do more. NerdWallet, for example, lets you link your goals to the appropriate spending account, so your progress is automatically tracked.
Most personal finance websites do not focus on the theory and implementation of retirement planning, much less lifetime financial planning. Quicken Deluxe, though, includes additional tools to help you pay off your debts faster, plan for taxes, and establish a comprehensive lifetime financial plan. Personal Capital has free planning tools on its website, but it also has a team of financial professionals that provide advanced planning services for a fee.
You may only want to use a personal finance service for day-to-day income- and expense management, budgeting, and goal-setting. That said, Mint and Quicken Deluxe let you track your assets, including homes, vehicles, and investment holdings, which contribute to your net worth. If you keep your financial data and assets updated and connect the app to all your financial accounts (including accounts in debt), you get a running tally that reflects your total net worth.
All the personal finance services reviewed here are available as mobile apps. Most offer somewhat reduced functionality, but you can at least check your account balances, view transactions, add transactions, and see graphs related to your spending and cash flow. You may also be able to get your credit score and check the status of pending bills.
Each of these personal finance solutions offers something the others don't. That said, their skill at delivering the tools consumers need, and the cost at which they offer them, varies. Mint has won our Editors' Choice award for free personal finance services for several years, and it does so again. Quicken Deluxe, on the other hand, is our Editors' Choice pick for paid personal finance services. We'd send people first to Mint if they're considering online personal finance, because of its usability, thorough tool selection, and useful feedback. And, of course, it's free. Free is good in these days of economic uncertainty.
This is an overview of your finances. The information shown includes account balances, upcoming and overdue transactions and reminders, and exchange rate information. Clicking on an account or choosing an account from the drop-down account list will take you to the register for that account, where you can enter transactions or reconcile the account against a statement. Clicking on a transaction reminder will display a window where