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Top 5 Personal Bookkeeping Options to Manage Your Financial Life!

Quicken vs Personal Capital vs Mint vs Moneydance vs Countabout

If you’re looking to get a better grip on your personal finances or tidy up your investment portfolios, there’s a vast array of software available to help you track and manage your money.

Whether it’s Personal Capital vs. Mint or Moneydance vs. Quicken, it can be confusing to decide which one meets your requirements. So let’s break it down.

With a money management software package costing anything from zero dollars up to as much as 100 per year, it’s important to know your needs and limitations before you invest.

Inadequate financial tracking software can lead to financial headaches, overspending, poor money management and ultimately, unfulfilled financial goals. A relatively small investment in the appropriate software can have a substantial positive impact on the health of your finances.

If you’re looking for some basic budgeting in your finances, there are various software packages with tracking tools that allow you to track your spending every month and even set aside specified amounts if you’re saving for a particular financial goal, such as a house purchase or a wedding.

At the other end of the scale, stock market investors will need higher spec software with tools that will allow them to track their full portfolio, comparing it with the current market and possibly even integrating with their financial firm.

The major player at this end of the spectrum is Quicken, one of the best-known and most frequently used money management tools on the market. With multiple features to help you manage your financial situation, it continues to remain a favorite tool for anything from basic budgeting to tracking savings and investments.

Quicken

Quicken is one of the most significant money management software packages on the market. You may have heard about Quicken separating from Intuit roughly three years ago.

Quicken appeals to both those who need guidance with personal budgeting and those with large investment portfolios to manage. Quicken also has an incredibly user-friendly mobile app for around-the-clock convenience.

The downside of Quicken is that it is not available in the Cloud, and can also come across as a bit complex and advanced to a new user.

Moneydance

Moneydance would be considered Quicken’s primary, if not somewhat lesser known, competitor. On the market for over 20 years, it matches all Quicken’s features with a few extra of its own. It’s particularly useful in foreign exchange transactions and uses handy visual displays to represent the current state of your finances.

Moneydance is an excellent platform if you regularly engage in foreign exchange transactions or deal in more than one currency. Advanced features allow you to track the stocks and bonds on the market and you can set the software to update the value of your portfolio daily. Moneydance is considered to be one of the most popular Quicken alternatives for Mac.

Personal Capital

While Personal Capital has budgeting facilities, it is mainly an investment service with an advisory team on-hand to guide you and manage your investments. While Personal Capital is free, they have a Premium Service whereby you can avail direct investment management from the Personal Capital team and guidance from a personal advisor.

Mint

Mint is also a free platform, mainly directed at personal budgeting on a smaller scale. With Mint, you can pull your whole financial life into one application and get a good cross section of all your accounts, including personal, checking, credit cards, and even your PayPal account.

The primary function of Mint is budgeting, and it excels at this with features to alert you when bills are due, credit limits being reached and when you’re achieving your pre-determined goals.

CountAbout

CountAbout is an easy-to-use online personal finance application. With no software to install, it is anywhere you have an Internet connection. Their platform is stable, secure, and totally private. It might be a good alternative to Quicken if you want something cloud-based.

This is the only web-based personal finance software that imports data from Quicken and Mint. It also has an App and widgets to compare monthly spending.

If you have been frustrated with Quicken, you may want to try CountAbout. One reviewer called it “Quicken without the glitches.”

Conclusion

Everybody has different priorities when tracking their finances, and the various types of software will reflect this with different features and tools. Whether you are interested in investment marketing, personal finances or financial goal setting, finding the right piece of software can make all the difference to succeeding in your plans.

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