Personal finance apps and software help you become more efficient at money management, while you master the basics in investments. Using personal finance software should help you discover new ways to expand your portfolio and meet long-term goals. However, understand that the best personal finance software for you will depend on your current financial needs. Some personal finance software helps you with portfolio investment and management, while there exist others that help with budgeting. Now, the best budget apps will help you master both expense tracking and master budgeting.
Understand that your budget for personal finance apps and software will also dictate the type of app or software that you get. There are both paid and free personal finance apps and software to choose from. Below is a list of all the best personal finance software and app choices of 2020 that you should consider.
Quicken – overall best
One of the most talked-about personal finance software is Quicken. Established several decades ago, they offer various personal finance management options, including investment coaching, debt tracking, budget creation, and saving goals. The quicken software supports Excel exporting, which gives you the chance to make additional calculations. Advanced features include value asset tracking and bill payments. It’s always a good thing when you can track how your assets are performing and have accurate real-time calculations of your net worth. The Quicken app can handle property management like tenants making rent payments which makes it quite practical. The software is purchased at $34.99 and you can get it on Android, iOS, macOS, and Windows platforms.
Mint – best for budgeting
Mint is considered one of the best expense tracking and budgeting tools. Once you grant the software permission to pull your credit card and bank information, you will get an analysis of your spending with pinpointed cut back areas to help you improve financially. You can equally set up alerts for low balances and due dates to help you with financial planning. Such features are great because you get to escape expensive fees that are associated with overdrafts and late payments. Mint is free software that you can download on any Windows, Android, and IOS device.
Future Advisor – best for investing
The Future Advisor software provides portfolio diversification recommendations that are tailored to suit your specific needs. You get to decide whether or not you want to follow the options given by Future Advisor. Now, you only get to sign up if you have $5,000 or more in investible assets. Future Advisor manages your assets for a 0.5% annual fee that is billed quarterly. It is the ideal app when you need to diversify your portfolio by investing in different sections.
There are other personal finance apps and software like Tiller, YNAB, and TurboTax that you should look into. However, ensure that you get a personal finance software that suits your needs. Don’t get a saving software when you are looking at investments and vice-versa. Look at consumer reviews before picking the best personal finance software that suits you.