Top 5 Personal Finance Software for 2021: A Comprehensive Guide

Managing personal finances can be overwhelming and time-consuming, but thankfully, personal finance software can make that task easier. This software not only tracks your spending but also helps you create a budget, stick to it, and achieve your financial goals. With so many options available, it can be challenging to determine which one to use. In this article, we will take a closer look at the top 5 personal finance software for 2021 to help you make an informed decision.

Mint

Mint is a free personal finance software that has been a top choice for many years. Mint allows you to link all your bank accounts, investments, credit cards, and bills in one place, giving you a comprehensive view of your finances. The software tracks your spending and helps you create a budget based on your spending habits. It also notifies you of any unusual spending or fees. Moreover, Mint gives you personalized financial advice based on your spending patterns, making it an excellent choice for beginners or those struggling to keep track of their finances.

You Need A Budget (YNAB)

YNAB is different from other personal finance software because it uses a zero-based budgeting system. This means that every dollar has a job, and you allocate your funds based on your priorities. YNAB syncs with your bank accounts to track and categorize spending. It also provides financial advice and tools to help you build your savings and pay off debt. Although YNAB is not free, the cost of the software is quickly offset by the amount of money that users report saving through better budgeting.

Personal Capital

Personal Capital is an investment-focused personal finance software that is popular amongst investors and those who have complex finances. The software tracks your investments and offers a comprehensive view of your investment portfolio. Personal Capital helps you track your net worth, monitor the performance of your investments, and analyze your asset allocation. It can also help you project your portfolio growth and determine the impact of different investment decisions. Personal Capital is free to use, but users can opt for personal advising or investment management services for a fee.

Quicken

Quicken has been around for decades and continues to be a top choice for personal finance software. The software features a robust set of tools that can help you track your spending and investments, create a budget, and plan for retirement. Quicken offers a variety of plans that can accommodate different needs, including home and business finances, and it allows you to pay bills and set up alerts to monitor spending and account balances. Although Quicken is not free, it is reasonably priced, and users report that the software more than pays for itself through better financial decisions.

EveryDollar

EveryDollar is a budget-focused personal finance software that is easy to use. The software helps you create a budget and track your spending, ensuring that you stay within your budget. EveryDollar syncs with your bank accounts to automatically categorize transactions and track your expenses. It also provides financial advice and tips to help you reach your financial goals. EveryDollar has both free and paid versions available, with the paid version providing additional features, such as financial peace university courses.

Conclusion

In conclusion, personal finance software can help you streamline your finances and achieve long-term financial goals. The top 5 personal finance software for 2021 are Mint, YNAB, Personal Capital, Quicken, and EveryDollar. Each of these software options has unique features and benefits, so it is essential to consider your needs when choosing the software that is right for you. Ultimately, any of these options can help you improve your financial health, so choose the one that best fits your situation.