When it comes to money management tools, Intuit's Quicken program is one of the most popular and successful (INTU). The personal financial management program Intuit was purchased by private equity firm H.I.G. Capital at the end of 2016.
Quicken includes portfolio analysis and management tools, including capital gains reporting for those who want to keep track of their finances. The program is compatible with Apple's operating system in both Mac and Windows versions.
Quicken was the most acceptable option to manage one's finances before web-based alternatives emerged. Other than from a money consigliere, where else could you purchase software that gathered your financial data, structured your bills, and assisted you in paying those expenses? The only "con" was that you had to borrow money to use it. Despite its availability in other nations, Quicken primarily aims at North American customers.
Mint.com
Just a budget planner and spending tracker at the end. The lack of a monthly bank reconciliation feature and problems with account synchronization have been pointed out as drawbacks of the software.
Mint.com has both advantages and cons as a read-only service. There is no way to take any action even if someone gained access to a user's personal information (such as transferring money). It isn't easy to perform anything with a read-only service, which limits the service's capabilities and functionality.
Personal computers, tablets, and smartphones can all be used to access Mint, just like any other similar personal money management system.
Assets That Can't Be Touched
At a fraction of the cost of Mint, Personal Capital provides a more comprehensive collection of investment management capabilities than Mint does. As of July 2021, it had under management $20.3 billion of assets. (AUM).
Most of Personal Capital's financial planning services are accessible to users. Budgeting, bill-paying, account-tracking, and more fall under this umbrella. Personal Capital's principal source of revenue comes from customers with at least $100,000 in assets who desire to employ the company's wealth management services. The yearly charge is as low as 0.89% for assets under management under $1 million; beyond that, the fee lowers to 0.49% (for accounts over $10 million). Personal Capital charges a fraction of the industry average for complete wealth management services.
Tax and estate planning, insurance advice, education funds, and other services required to provide complete financial management for customers are all included in a wealth management organization's wealth management services.
Free Personal Finance Tools
It's still hard to beat Quicken's free personal finance tools. Some tools available are 401(k) fee analyzers and investment allocation target checkers. Inputting revenue and expenses into a cash flow calculator yields a projection of one's expected cash flow for the next week, month, or year.
With the Retirement Planner, users may plan and track their retirement objectives in various ways. With this feature, you may set spending and saving goals, monitor income, and even predict the value of investment portfolios.
Investing recommendations depend on the user's risk tolerance, which is decided by the asset allocation component. In terms of capabilities and input variables, there is no other free or commercial service that comes close to matching what this module offers.
There are several reasons why Personal Capital has received favorable reviews, but account synchronization has been cited as one of the most significant. This is rare for a free financial services software tool, but customer assistance is also highly recognized. Personal Capital's investment research and planning are significantly more extensive than Quicken's. Further, the system's security is enhanced by using two-factor authentication.
Personal Capital's services can be accessed via a computer, tablet, mobile phone, or another device.
The Banktivity (Ibank)
On macOS (for workstations and laptops) first, then on iOS (for mobile devices), IGG Software began developing iBank in 2004. (for iPhones and iPads)
Bank, credit card, loan, and investment account management are among the services given by Banktivity to consumers and small enterprises. While Quicken does not support multicurrency or variable loan amortization, Banktivity does. In addition to checking, savings, money market, stock, and fixed-income investment accounts, as well as 401(k), Roth I.R.A. balances, you may access all of your financial accounts from one page.
It's hard to beat Banktivity's regularly updated charts for keeping tabs on where your money is going and how well your investments are doing when it comes to keeping track of your income and expenses. Creating and printing customized financial reports is a snap, and the tool lets users create and print new checks as needed.
