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Timothy R
By: timothy-ronaldson
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The Best Personal Finance Software to Help You Track Your Spending

Using personal finance software can help you take control of your financial management.

Apps and trackers allow people to see where their money is going so that they can improve their overall financial situation.

In this article, you’ll find some of the best money management software you can use and some personal budget tools to improve your financial health.

Table of Contents
1. The 10 best personal finance software options of 2023
2. What is a personal financial software
2. What to consider when choosing the best personal finance manager
3. How to keep track of personal finances
4. Best ways to track personal finances
5. FAQs

The 10 Best Personal Finance Software Options of 2023

There are many personal finance websites out there and a massive list of free personal finance software options you can use.

Below is a detailed look at the best personal finance software and planning tools where you can track spending and make budgets.

Tiller Money

Tiller Money is for you if you’re looking to track all of your spending in one place with easy-to-export reporting.

This software program allows you to see where all your money is going.

It automatically connects with your credit card accounts, loans, checking and savings accounts, and investments. Then, you can take all of this data and customize it through a spreadsheet in either Microsoft Excel or Google Sheets.

Tiller Money does offer a free trial of 30 days, but after that, it costs $79 on an annual basis or $6.58 monthly.

This program is very powerful, but it’s also best for people who want to manipulate their data in spreadsheets to cull additional insights.

Personal Capital

Personal Capital is another program that lets you integrate all of your financial accounts into one platform. 

It allows you access to financial management tools and wealth management services.

You can manage your mortgage, bank accounts, credit cards, and investment accounts.

Having this all in front of you will enable you to get a clear picture of your overall financial health.

The program offers personalized advice if you have a portfolio of at least $100,000. It does come with a fee, though.

One of the best parts of this program is that it allows you to see whether you’re on track to meet your personal investment and retirement goals.

The downside is it’s for people with more advanced knowledge of their finances. In addition, it has an annual fee that depends on how much you invest.

Quicken

Quicken is one of the leading names in personal finance software, and for a good reason. It’s really great for use in multiple areas of your finances.

It’s easy to understand Quicken’s basics, including budgeting, multiple accounts, and paying bills.

However, there are also more advanced features that you can use when you’re ready.

They offer a desktop version and an app, plus an online backup of all your very secure data.

A significant advantage of Quicken is it makes all aspects of financial planning simple — such as budgeting and paying bills.

This is a paid personal finance software and they offer multiple pricing tiers, starting at $35.99 per year with the basic features.

YNAB (You Need A Budget)

You Need A Budget, also known as YNAB, is an extremely simple and straightforward platform for managing personal finances.

The primary objective of this software program is to aid customers in curbing their spending and ultimately enabling them to not live from one paycheck to the next.

YNAB easily allows you to track your expenses, set a budget, and stick to it.

In addition, it allows automatic downloads from various financial accounts to make tracking and reporting very easy.

They provide a free trial that lasts a little more than a month, and then they offer monthly pricing that starts at $6.99 per month.

YNAB offers the platform on both desktop and mobile devices.

The best part about this software could be its downside, too, depending on your needs — it’s a very simple tool.

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BankTree

If you need to track currencies worldwide, then BankTree is an excellent option.

Many programs will round all of your currencies into one total, but BankTree allows you to track multiple currencies simultaneously.

The downside to this software is it doesn’t have the best design, and it isn’t the easiest to use. However, it’s a great option if you need the multiple-currencies functionality.

They offer a free trial that lasts 30 days, and then they charge about $35 per year.

Money Dashboard

Money Dashboard is a mobile app that is very simple but extremely useful.

It helps you track your spending, which you can then break out into an easy-to-read pie chart.

It also allows you to see a real-time update of all your balances to see your current financial picture.

This software offers terrific security, and it’s very easy to use. One of the best parts about the software is that it’s completely free to use, though that could change in the future.

The downside is it’s basic, so if you need more complex reporting tools, you’ll need to look elsewhere.

Mint

Intuit, a very well-respected company in the personal finance world that produces TurboTax, created Mint. As such, it is extremely popular.

It’s very easy to track your expenses and create a budget.

By integrating information from your credit cards and bank accounts, you’ll see where all your spending is occurring to identify areas where you could cut back.

One of the best parts of the program is that it allows you to set up notifications if your balances are getting low or if you’re approaching a due date on a bill.

You can also set up a budget that will update in real-time as you spend.

This budgeting software is free to use on all main mobile devices and desktops, which is a huge plus.

Mvelopes by Finicity

The envelope system was an age-old way of budgeting. It involved putting cash aside in envelopes for different expenses throughout the month.

This program takes a similar approach to the budget, only on a digital basis rather than taking cash and putting it in an actual envelope.

You get to set your financial goals based on what’s most important.

Then you can set your income and connect all your accounts to help you track expenses and manage your money.

The software will track all of this throughout the month and update you in real-time.

It’s available on mobile and desktop. Unfortunately, they only offer a free trial if you sign up for their premier plan, which costs $9.79 per month. The basic version of the software is $5.97 monthly.

Honeydue

One of the most important — and challenging — things to do is combine finances with a loved one. Honeydue helps you do just that.

This software is for couples, allowing you to link accounts and customize the shared information with each partner.

There’s no monthly fee, and it will automatically categorize your expenses. The downside is that there aren’t many reporting features, and it’s only available on mobile devices.

PocketGuard

This personal finance software is excellent for people just starting on their financial journey. Many of the features in the program are free to help people along.

The main idea of this software is to allow you to see how much cash you have to spend in your accounts.

It does this through pie charts and different tracking features.

The free version of the software does have limited reporting, expense categories, and the ability to set goals, meaning you may have to pay if you want or need more from your personal finance software.

Still, it has algorithms that can help you identify ways to save money by stopping unwanted or unused subscriptions.

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What is a Personal Financial Software

Money management software or financial software are tools that help you keep track of your finances and make better financial decisions.

It can show you where your money is going, help you find ways to save money, and give you insights into your overall financial health.

There are a variety of different money management software programs available, so it’s important to find one that meets your specific needs.

How do they work

Most of the best personal finance software connects to your bank and credit card accounts to track your spending.

This gives them a complete picture of your financial data.

  • You can then use the app to set budgets for different categories of spending.
  • The app will keep track of your progress and let you know if you’re on track or not.
  • Some money management apps also have features to help you save money.

For example, they might help you find discounts on things you’re already planning to buy or suggest ways to cut down on unnecessary expenses.

Other money management apps

Wealthfront

This app provides users with a personalized investment plan, based on their goals and risk tolerance.

It offers features such as automatic investing, portfolio rebalancing, and more.

Betterment

This app is another option for automated investing, with a focus on helping users reach their financial goals.

Other of its features is tax-loss harvesting and goal-based investing.

Acorns

This app allows users to invest their spare change, by rounding up purchases to the nearest dollar and investing the difference.

It also has a variety of other investment options, such as IRA accounts and more.

Robinhood

This app allows users to trade ETFs, stocks, and options for free.

Offers features such as real-time market data and analysis and more.

Stash

This app helps users get started with investing, by offering a variety of investment options and guidance on choosing the right ones.

It also offers features such as automatic deposits and withdrawals and more.

Clarity Money

This app provides users with insights into their spending habits, including where they are overspending and ways to save money.

It also offers tools to help manage finances, such as budgeting and goal setting.

Digit

This personal financial software analyzes your spending habits and saves money for you automatically, based on your income and expenses.

It also helps you pay down debt and improve your financial health.

Personal finance websites

If you want to use an app instead of downloading software, you can use these online ideas on your phone:

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What to Consider When Choosing the Best Personal Finance Manager

When looking into the best personal finance software, there are many things to consider.

  • The first is how you intend to use one of these best finance programs.

Are you going to use it only as financial planning software for individuals, or do you intend to use it for a small business as well?

Your usage of the best financial software will help you determine the key features you need.

For example, personal money management software may not offer the ability to log business receipts or run more complex financial reports such as cash flow reports. After all, you should avoid commingling.

If that’s something you need, you should look for the best online financial planning tools for businesses.

  • Another thing to consider is whether you plan to integrate your personal finance manager with other programs.

For instance, you may want the ability to merge data with tax or accounting programs.

In addition, are you looking for simple personal finance trackers that are completely free?

Or, do you need a more in-depth personal money manager and don’t mind paying for advanced tools?

Features of Personal Finance Management Tools to Keep In Mind When Seeking One

Some important features of personal finances programs that you should consider when choosing the right tool for you:

Track your income and expenditures

This is a crucial feature for any personal finance program.

You need to be able to see where your money is going in order to make informed decisions about your spending.

Create and manage budgets

A good personal finance program will allow you to create budgets and track your progress towards meeting your financial goals.

Track your investments

If you have investments, it is important to be able to track their performance over time.

This information can help you make decisions about where to invest your money.

Monitor your credit score

Your credit score is an important factor in your financial life.

A personal finance program can help you keep track of your credit score and make sure it is where you want it to be.

Set financial goals

A good personal finance program will allow you to set long-term and short-term financial goals.

This feature can help you stay on track with your financial planning.

Some software and apps can be linked to your account to your financial institution.

There are many other features that may be important to you when choosing the best personal finance software. These are just some of the most important ones to consider.

How to Keep Track of Personal Finances

While you can take many different approaches as a personal money manager, there are some basic steps to the process, no matter which software you use.

1. The best way to track personal finances is to start by checking your accounts’ statements.

This should include your bank accounts and other spending accounts, such as credit cards.

2. Next, categorize all of your expenses.

Categories could include food, transportation, housing, and discretionary spending. This will help you identify any obvious areas where you might be able to cut back

3. Then, track your expenses. One of the most effective ways to do this is through one of the top personal finance software options we listed above. This will help you quickly see how you’re spending your money.

In that regard, consider an expense tracker that has mobile functionality. This will allow you to track your expenses as you make them, even when you’re out.

4. Finally, review your expenses regularly. At the very least, this review should happen every month.

But, you might choose to start with a weekly review until you’re on track.

This review exercise will help you identify areas where you might be able to cut back.

Best Ways to Track Personal Finances

As you’re tracking your personal finances, there are some essential tips to keep in mind, including:

  • Track every penny you spend.
  • Track as you spend it, so you don’t forget.
  • Categorize all your expenses.
  • Review expenses regularly.
  • Don’t be afraid to make hard changes.
  • Set spending goals.
  • Create action plans to achieve your goals.

Take care of your personal and business expenses

Take care of your expenses by using the best personal finance software.

There are many different programs to choose from, but we’ve narrowed it down to our top ten picks.

Whether you want something easy to use and understand or need more robust features for tracking investments and bills, there is a program for you.

Check them out and see which one works best for helping you stay on top of your spending.

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FAQs

Which financial tool is most important?

The most important financial tool you can use is an expense tracker. That will form the basis of your financial planning, including budgeting and setting long-term financial goals.

What is the best checkbook software?

Quicken is one of the best checkbook software packages.

Which personal finance app is best?

YNAB is one of the best personal finance apps on the market. Of course, there’s a subscription fee, but it’s a great way to set goals, create a budget and track all expenses toward your financial goals.

Is there something like QuickBooks for personal use?

QuickBooks has a personal-use version. You can enjoy all the great features and tools QuickBooks offers for business use for personal use as well.

What is personal finance software used for?

Personal finance software helps you take control of your overall finances. This includes tracking expenses, setting a budget, and identifying areas where you can make changes.

What personal finance software does Dave Ramsey recommend?

Dave Ramsey recommends using a budgeting app called EveryDollar. It’s a free mobile budgeting tool you can incorporate as part of your expense tracking.

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