Best Free Personal Finance Software

Best Free Personal Finance Software

NerdWallet has a free app that helps you track your cash, discover new ways to save and even build your credit score. To remain unbiased we chose not to include ourselves in the list below, but we think you’ll love us anyway.

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You manually add account balances (that you can pull from your bank’s website), as well as cash amounts and debts. With accounts and income entered, you assign money toward spending categories, known as envelopes. The free version allows one account, two devices and limited envelopes. The Plus version, which is $6 per month or $50 annually, offers unlimited envelopes and accounts, up to five devices and other perks.

online personal accounting

We noted the tools each program has to simplify the budgeting process, and whether you can copy the budget from month to month and set up recurring payments. With this method, you split your budget into envelopes marked with categories such as groceries, bills or entertainment. You then purchase items with money from the envelope category they fall under.

online personal accounting

This setup process lays the foundation for thoughtful money management from day one. We love that Mint is a free personal finance app — but that does mean putting up with banner ads. They’re not overwhelming, but you will have to scroll through some full-screen credit card and loan offers. If you’re looking for a more streamlined experience, we recommend checking out Quicken.

online personal accounting

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Buxfer is an online tool that makes it easy to manage all of your accounts in one place – although there is also an Android app available. There’s support for over 15,000 online bank accounts from all over the world, so you should find that yours is there, and then you can pull in all of your transactions without the need for manual entry. Billing itself as an alternative to Quicken sets a high bar for AceMoney, but it’s a target it manages to reach, even in its free, cut-down iteration.

In addition, you can even add Other Assets and Other Liabilities through the “Manual Accounts” feature. This is useful for items that have value, but do not have traditional log-on website such as — the fair market value of your car, art, jewelry, etc., personal loans you owe to family/friends, company reimbursements due you, etc.

  • This program has tools to help you track your investments and monitor the progress of your portfolio.
  • QuickBooks Online requires a computer with a supported Internet browser (see System Requirements for a list of supported browsers) and an Internet connection (a high-speed connection is recommended).
  • Personal Capital and Mint are the two giants in this area, especially when it comes to free budgeting tools.
  • Expenses are slotted into general categories (e.g., “Transfers” instead of “Rent and Mortgage”), and the way they’re listed doesn’t show the transaction location at a glance.
  • We’ve reviewed personal finance software for 12 years.
  • T here are plenty of online budget tools available to help you manage your money and many of them are free!

Mint allows you to track your expenses across all your different credit, checking, savings, and investment accounts. You can even add in assets like cars or houses to get a better sense of your net worth. It allows you to set goals, or sign up for alerts if your spending in a particular category gets out of hand.

The people who love YNAB love it a lot, and speak of it in the same hushed and reverential tones recent converts use to speak of the Lord. YNAB’s principles are grounded in zero-sum budgeting, which, in YNAB’s case, means you “give every dollar a job.” (That’s one of YNAB’s four budgeting rules, or articles of financial faith. The other three are “embrace your true expenses,” “roll with the punches,” and “age your money.”) Signing up for YNAB isn’t so much about downloading an app as it is about embracing a lifestyle shift. Microsoft’s budgeting software, MS Money, hasn’t been actively marketed or developed in several years. While you can download a 2012 version, you won’t find the same spread of customer support or tools as you will on more current personal finance apps.

Personal Finance Software Programs FAQ

All of our top picks are either free or offer a free trial, so you can take them for a test drive and see which tools work for you. The app isn’t well-suited for varying income and expense amounts. If you receive the same paycheck every two weeks and your expenses stay more or less even month after month, you will have smooth sailing tracking your budget with Clarity. But if the gig economy means you cash freelance checks as you receive them, or run a business with seasonal spending, it could be frustrating to deal with Clarity’s freak-out notifications every time it perceives you are overspending (or under-earning). Making your costs more visible is something that most financial apps do very well.

Mint is one of the most popular budgeting and expense tracking tools. You can have the software pull in your bank and credit card information to analyze your spending and pinpoint areas where you can cut back to improve your finances.

Why men (and women) over 30 love Handdy Home Accounts

The Mint Budget tool does not work. I have been using it for a month and it is so buggy it is rendored useless.

Then it pulls two months’ worth of transaction history and begins categorizing. Four of the five personal finance websites reviewed personal accounting software here have what’s called a dashboard. It’s basically each site’s home page, or the first screen you see when you log in.

Overview of your accounts

As this is the lite version, you’re limited to two accounts; the full version supports unlimited accounts. You Need a Budget, or YNAB, is a personal finance software that’s aimed to help you improve your financial literacy as you manage your monthly budget. As you create your budget and manage your daily finances, the software provides you with tutorials that will help you tackle some of the tougher financial topics. If you’ve been struggling with bad financial habits, YNAB can help you break those through a few basic financial management rules.