Best personal finance software 2021

Find the best personal finance software and you’ll have everything you need to organize your finances, helping you keep track of expenditure and effectively manage your budget to make your money work harder for the long-term. No matter your aims you’ll find the tools to help – you can find home finance software that gives a general overview of your money situation, or more in-depth programs ideal for investors, and you can even get free finance software if you want to keep things simple.

Most software packages have high levels of functionality, with budget trackers and related tools being common features, and they’ll sync with your financial accounts to give accurate and real-time information of where you stand. You’ll often find that they’re the ideal accompaniment to the best tax software as well, with the ability to link to your tax accounts whilst offering reporting functions and receipt tracking capabilities for the ultimate all-round financial solution.

Investors will be able to find programs that offer even more in the way of features, too, with the very best personal finance software allowing you to track your investments and monitor their performance. This is where packages such as Moneydance can excel. Other home finance software will be better suited to those thinking ahead in terms of retirement planning, while other users may need the usability of an app over everything else. Then there are free finance software packages to consider, which although are sometimes more limited in terms of features, may be all you need in order to get a basic overview of your financial situation.

No matter what you’re looking for, the following guide will be able to point you in the right direction of the package that could be ideal for your needs, highlighting the very best personal finance software in a number of scenarios. And, if effective money management means that you’ve got a bit left over to invest, make sure to consider the best online stock trading brokers to see if you can make your money go further.  

1. Quicken Premier: Best personal finance software overall

Quicken Premier

Quicken Premier is the best all round personal finance software bar none.

Reasons to Buy

Best tools for managing investments
Copy your budget to the next month
Can export tax data

Reasons to Avoid

Cheaper options available
Mobile and web-based applications don’t have all desktop features
Read the full Quicken Premier review

Our pick for the best personal finance software is Quicken Premier. Quicken is one of the best known names in personal finance, and it is constantly updating its software with new features. And as you would expect, the latest version of Quicken Premier – which typically costs $77.99 a year, but is often discounted – remains incredibly easy to get started with and hook up with your bank and investment accounts.

Once you’ve connected the program to your accounts, it will import your transactions and categorize them automatically – should something be incorrect, you can edit it. The categories are obviously there to help you organize your budget, with color-coded indicators providing an instant visualization of your current monetary state of play. If you need a more stark reminder when you’re tempted to spend, there are also alerts that will be sent to you when a budget limit nears or is exceeded. There are budget setting options for everyone, with Quicken allowing you to keep the same limit each month, or direct any unused funds to roll over into the following month.

However, where Quicken Premier really stands out is in its investment, tax planning and retirement tracking tools. If you own stocks or other securities, simply link up your investment account and you can analyze your portfolio and compare its performance with the market. You can also track progress towards your retirement goals, and find out what you need to do to either stay or get back on track. There’s the option to track cost basis and create Schedule D tax reports too, providing a head start when it comes satisfying the IRS requirements that come around each year. 

  • Read our Quicken Premier review

2. Quicken Starter: Best value personal finance software

Quicken Starter

Quicken Starter is the best budget friendly personal finance software.

Reasons to Buy

Low cost budget planning
Has all the budgeting features of Quicken Premier
Can use the app to save receipt information

Reasons to Avoid

No investment monitoring features
Doesn’t export to tax programs
Read the full Quicken Starter review

If you’re looking for value in your personal finance software – and given it is money management products that we’re talking about, you probably are – Quicken Starter is the less expensive, scaled-down version of Quicken Premier. Indeed, the cost of $35.99 is hard to argue with on any level, particularly as it provides the same outstanding budgeting tools as its more expensive counterpart – what you don’t get is access to the investment and tax planning tools that are available on the Premier version.  

Quicken Starter connects directly to your accounts and imports your balances and transactions, automatically categorizing them. You can also manually adjust the categories if the default tags don’t match your budget. Budgets are easy to create too and can be divided into categories to track how much you spend on groceries, rent, and other items. You can set up email or text alerts for when you approach or exceed your budget limit in a certain category. 

For managing your finances on the go, the Quicken mobile app lets you check on your budget from your phone and take pictures of receipts so that you can add them to your records. And as with the Premier option, a web based version of the package is now available as well. All round, it’s the perfect personal software option for budgeting on a budget, particularly if investments are not on your agenda right now. And if they are, then know where to find the Quicken Premier package. 

  • Read our Quicken Starter review

3. Buxfer: Best personal finance software app


Buxfer is good for budgeting while on the go.

Reasons to Buy

Easy-to-use mobile app
Auto-tagging of transactions is accurate
Shared-expense tracking lets you divide costs with roommates, friends or family

Reasons to Avoid

Investment features are minimal
Limited reporting 
Read the full Buxfer review

Having a mobile, web-based personal finance program makes it easy to track your spending and expenses from anywhere, and this is where Buxfer excels. 

Once you create an account with Buxfer and download the app, you can connect it to your bank and credit card accounts, allowing your balances and transactions to be automatically added to the application and categorized. An edit option is available too if you don’t agree with the automatic categorization.

Creating a budget with Buxfer is also easy. You set an overall spending limit for each week, month and year and can use the categories to further refine your plans. One distinct advantage of being primarily app-based is that your budget planner is always readily at hand, ideal for easy reference when you’re about to splash out, but maybe shouldn’t. What Buxfer also has is shared-expense tracking, which lets you send money to others, and can prove especially useful if you split rent or utilities with roommates.

Buxfer offers simple reports that help you visualize your spending. There are pie charts to determine what percent of your income you spend on various categories and line graphs to give you a quick view of your income versus your expenses. If you want to set up savings or retirement goals, then you’ll need to look elsewhere, but if it’s budget planning on the go that you’re after, then Buxfer is the ideal choice.

  • Read our Buxfer review

4. Moneydance: Best personal finance software for investors


Moneydance offers powerful personal finance software best suited to investors.

Reasons to Buy

Connects to brokerage accounts and peer-to-peer lenders
Great reporting options

Reasons to Avoid

No budget alerts
No retirement planning features
Read the full Moneydance review

Moneydance is one of the best personal finance software options if you have investments and brokerage accounts that you want to keep track of. The platform is easy to use, yet there’s a number of impressive options that you won’t always find elsewhere, including the ability to sync to a peer-to-peer lender and the option to create your own custom-made reports. 

All of the usual account syncing options are available too, and a mobile app so that you can monitor everything while you’re on the go. If you’re looking for straightforward budgeting assistance, the lack of alerts might disappoint, and it’s unlikely you’ll need all the bells and whistles that come with the package overall. But if it’s investments you want to monitor, and the ability to build your own bespoke reports, then Moneydance certainly has something to offer you.

  • Read our Moneydance review

5. Mvelopes: Best for envelope budgeting


Mvelopes is the personal finance software equivalent of putting money in envelopes

Reasons to Buy

Easy to set up and import transactions
60-day free trial

Reasons to Avoid

Doesn’t track investments
No alerts if you overspend
Read the full Mvelopes review

Mvelopes is the ideal go-to personal finance software if you want practice envelope budgeting with a 21st century twist. For time immemorial, people have put money into envelopes with the express intention of spending no more on groceries, shopping, entertainment or whatever is written on the envelope than the amount sealed inside.

Now, Mvelopes brings the method up to date, by allowing you to track expenditures that you’ve assigned to various digital envelopes. When you exceed a spending limit, the envelope balance changes to red, and you know you’ve gone too far. Mvelopes lets you sync directly to your bank and credit card accounts, so that a fast insight into your everyday spending is always at hand. You can connect to brokerage accounts too, but only your balance will be recorded –  you can’t monitor your portfolio performance. Three plans are on offer, with each available on a free 30 day trial. 

  • Read our Mvelopes review

Choosing the right personal finance software

Before settling on a personal finance program, take stock of what you need it for and how you’ll use it. Everyone’s financial situation is different, and some of these programs may not suit all your needs.

Basic Budgeting
If you need to get a handle on your finances and track your spending, a basic budgeting option is probably suitable for you. A budget can be as simple or complex as you need. You may want to simply track your total spending overall, or perhaps keep tabs on how much you spend on certain things. Some people feel most comfortable with the envelope budgeting method, which involves setting money aside each month for specific items or goals. 

Goal-oriented Budgeting
If you’re budgeting because you want to save toward a goal, say a down payment on a home or for retirement, many of the programs offer tracking tools that let you set aside an amount each month and track your progress. Using personal finance software to manage your budget can help you identify the areas where you overspend or can most easily cut back as you attempt to reach your financial goals.

Tracking Investments
Not everyone invests money in the stock market, but if you do, you’ll need personal finance software that can cover the full breadth of your financial situation. Many of the programs we tested integrate with your financial firm and can at least give you a top-level look at your portfolio. However, the best personal finance software allows you to track your performance and compare your portfolio with the market. Investment tracking software tends to cost a bit more, so if you don’t have stocks to monitor, you’re best choosing the lower cost software that should simply provide the budgeting features that you need. 

Best free personal finance apps

While most of the personal finance software cost money, often in the form of a monthly or annual subscription, there are also some programs that offer free trials too. If you’re just getting started with budgeting, taking a trial would seem the best option to see if the system on offer works for you. 

Alternatively, there’s a seemingly ever growing number of free budget and finance tracking apps that you can make use of, including:  

Developed by Intuit, the same company responsible for Quicken, Mint is a budgeting app that is free to download and use. Once installed, you can sync to your bank and credit card accounts, pulling all the relevant information into one main dashboard. Mint categorizes your transactions, so you can check your bank and credit card balances at a glance. It even goes a step beyond and lets you check your credit score and investment performance, as well as the value of your home. 

While Mint automatically creates a budget for you, this can be adjusted to suit your needs. You can also set up alerts to make you aware if you’re about to stray beyond your budget or have a bill coming up. The main drawback with Mint is the prevalence of ads that you need to put up with, but that’s usually the price of having something for free. 

Clarity Money
Clarity Money comes courtesy of Goldman Sachs, and is similar to Mint in the way that it syncs to your bank accounts, tracks your spending and sends alerts when you have a bill due. However, what makes it stand out is the ability to monitor your subscriptions to services and websites, and then to cancel them on your behalf if you no longer need them. Clarity Money can provide a useful picture of your finances, but if you need more in-depth budgeting tools, you may need to look elsewhere. 

If it’s very basic spend tracking that you’re after PocketGuard might just suit you. There’s little in the way of additional features and may not be prove good enough to reconfigure your entire budget, but it’s a more than useful way to quickly see how much money you have to hand.

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