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Best personal finance software for 2024

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Updated: April 02, 2024

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Whether you need to create (and stick to) a budget, monitor your credit score, or manage your bills, personal finance software can help. With so many personal accounting tools available today, which one should you pick? Here are our picks for the best personal finance software to make managing your money easier in 2024.

1. Empower

Best personal finance software for wealth management

Why it's the best: On top of being a great budgeting tool, Empower tracks your investments too. The icing on the cake? It does both for free.

Empower is one of the best personal finance apps on the market.

The service's free budgeting tool allows you to track income, spending, and saving over time. It then breaks down your spending habits into categories, allowing you to view transactions by date, merchant, or vendor so you can analyze each purchase.

In addition to the budgeting feature, you can view your bills and credit card statements and project your spending based on minimum payments and due dates. And the best part is that all of the features are available for free within Empower's already free software.

Pros

Pros

  • Complete view of your finances

  • Powerful investment checkup

  • Support via many apps

Cons

Cons

  • Asset allocation is not customizable

  • Budgeting tool needs improvement

  • Cannot reconcile

2. YNAB

Best personal finance software for budgeting and money management

Why it's the best: YNAB helps new budgeters set up and carry through with a complete โ€” and more in-depth โ€” budget plan.

YNAB color-codes your purchases and goals so that you can see when you are on track or are overspending (or underfunding a goal). It helps you define your financial goals and categories and assign each dollar a job. YNAB offers recommendations to help you reach the goals you set.

This money management software helps you manage your money and your bills by helping you look at them without all the negative self-talk. It teaches you how to plan for your bills and have the money for them when those due dates come up. The app is easy to use, and its system is all about building a healthy relationship with money.

Pros

Pros

  • YNAB is all about budgeting

  • Goes beyond the mechanics of budgeting

  • Low Cost

Cons

Cons

  • No phone or email contact

  • Not a one-stop shop for all things financial

3. Facet Wealth

Best personal finance software for financial planning at an affordable price

Why it's the best: Facet Wealth is a flat-fee service for those wanting to get the expertise of a financial planner.

All of their financial planners are certified and are fiduciaries, which means they have a legal obligation to put your best interests above their own. Facet offers numerous services and we like that you can get all of your retirement, tax, insurance, and even life planning done in one place. Plus they can manage your investment accounts for you.

Pros

Pros

  • Dedicated financial advisor: Clients are assigned to a dedicated advisor who works with them one on one. You can contact your advisor directly.

  • Fee-only fiduciary model: Predictable fees with a structure designed to put your needs first and avoid conflicts of interest.

  • Works with popular brokerages: Facet Wealth advisors can manage your accounts directly through four popular custodians.

Cons

Cons

  • Pricing may be high for some people: While $100 per month for a financial advisor isn't a bad deal, it may not be worthwhile for many people.

4. Experian Boost

Best personal finance software for boosting your credit score

Why it's the best: Experian Boost provides users with a free and easy way to potentially increase their credit score.

Experian Boost is a program created by one of the three major U.S. credit bureaus. It's been proven to help 62% of users improve their credit scores fast. (Note: Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.)

Having a low credit score can negatively affect your life. Not only can a poor score prevent you from getting decent interest rates on a new credit card or loan, but it can sometimes even hurt your chances of employment.

Experian Boost works by factoring your utility and phone billing history into your credit score. It uses only positive information โ€“ so don't worry if you've been late on a cable bill here and there. Plus, Experian Boost is free to use.

Pros

Pros

  • New credit scores take effect immediately

  • FICO score tracking

  • 256-Bit SSL encryption

Cons

Cons

  • Not a guarantee to raise your credit score with any other bureaus

5. Quicken

Best personal finance software all-around

Why it's the best: Quicken is the most comprehensive personal finance application available in the market.

Quicken is the granddaddy of personal finance software. But over the years, it's made some big changes.

Once upon a time, you had to go to the software store to buy an edition of Quicken. Now the software operates on a subscription model, so you just need to sign up and download it online. You'll link and sync all of your accounts to your Quicken account.

Not only will Quicken display your full array of monthly bills (as long as the biller is one of the 11,000-plus companies in Quicken's system), but it will send you alerts via the app and email, so you don't miss your due payment dates. Quicken can also be used as a bill pay app.

Bill Pay is offered for free to subscribers who choose membership at Premier or higher levels. You'll get the initial 15 months for free (nearly a $150 value). Other Quicken users can sign up for Bill Pay for the price of $9.95 per month.

Pros

Pros

  • Most comprehensive

  • Strong portfolio management

  • Bill pay

Cons

Cons

  • Unknown future

  • Synchronization issues for some users

  • Poor customer service

6. PocketSmith

Best personal finance software for financial prediction

Why it's the best: PocketSmith lets you plan for and predict your financial future.

If you're a control freak like me, you don't like much uncertainty when it comes to your future finances. That's where PocketSmith can help.

This is a personal accounting software option that can not only help you track your current finances, but also predict what they'll be in the future. It does this through its budget calendar, which is as easy to navigate as Google Calendar.

One feature that sets PocketSmith apart from the rest is the ability to create a budget at any time, for any amount of time. You have complete flexibility with your budget creation; there's no need to wait for the beginning of the month. They also have a โ€œPlan Aheadโ€ feature that walks you through budgeting, financial forecasting, and creating what-if scenarios.

Pros

Pros

  • Flexibility

  • Track one-time events

  • Create your own categories

Cons

Cons

  • You won't master it in a day

  • Free version is limited

A Dime Saved Guest Contributor

A Dime Saved is a blog started by a self-described millennial mom on a tight budget. It's geared toward readers who want to have their finances in order so they can live the life they want to live.

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