Best Personal Finance Software
Creating custom budgets and tracking your spending.
No (but the app is free)
Yes
$0 - $4.99/month
Beginning investors who want to automate and track their investments
No
Yes
$3 - $5/month
Intuitive goal tracking tools, support for someone learning how to budget
34-day free trial
Yes
$15/month or $99/year
Tracking and improving your credit report
No (but the service is free)
Can be accessed through the Experian app
Free
Free, simplified tax filing.
No (but the app is free)
Yes
Free
If making and sticking to a budget is a challenge for you, personal finance software might be what you need. The best platforms come with customized budgets, tax preparation, credit monitoring and other tools to set you up for long-term success.
This review looks into the pros and cons of five popular personal finance software programs. Plus, check out our quick buyer's guide on how to pick the best personal finance app for your needs.
Our Top Picks For Best Personal Finance Software
- Intuit Mint - Best for Customized Budgeting
- Acorns - Best for Investment Tracking
- YNAB - Best for Goal Tracking
- Experian Boost - Best for Credit Monitoring
- Cash App Taxes - Best for Tax Preparation
Best Personal Finance Software Reviews
Best For Creating Custom Budgets: Intuit Mint
Why we chose it: Intuit Mint is free, easy to use, and comes with tools to create a custom budget. This software lets you set up budget categories to break down your monthly spending.
Mint, like other Intuit products, is a straightforward platform with positive customer reviews. You can make an account for free and use the app on any Android, iOS or Mac device.
Here's how it works: After you sign up and download Mint, you'll link your bank accounts and credit cards. The app will start tracking your purchases and suggest spending categories, like gas, food, shopping or travel. Then you'll be able to see how much you spend on each category and where you can cut costs. You'll also get daily credit monitoring through TransUnion.
Mint's mobile app comes with ads (that's why it's free), which can get annoying, according to some customer reviews. But the ads don't get in the way of the app's user experience. If you want to get rid of ads, you can subscribe to Mint Premium for $5/month. With the Premium plan, you'll get advanced data tools and subscription-canceling services.
Mint doesn't offer 24/7 customer support. Its live chat support is available seven days a week from 8 AM to 6 PM EST, and there is no phone line. Still, Mint has fairly positive customer reviews — 4.8 stars on the Apple App Store and 4.3 stars on Google Play. It's also well-rated on third-party review platforms.
If you're looking for a simple budgeting app with free credit monitoring, Mint will do the trick. But if you want a more complex personal finance app for investments or tax preparation, consider another provider.
Best For Investment Tracking: Acorns
Why we chose it: Acorns is a robo-advisor for new investors. Unlike some more complicated investment apps, it's free to sign up and you can start investing with as little as $5.
If you're interested in investing, but don't have the time or budget for a financial advisor, check out Acorns. This is a simple, modern robo-advisor. It's free to make an account and you can transfer money from your savings or automatically invest your spare change. You'll be able to start investing with as little as $5. Compared to other robo-advisors that require at least a $5,000 or $10,000 investment to get started.
After you make your account and download the Acorns app, you'll be asked to link a credit or debit card. Then the app will round up your transactions and invest the change. Here's an example: say you buy a bagel for $5.75. Acorns will round that up to $6, and the extra $0.25 will automatically be added to your investment account.
Acorns offers five investment tiers, from Conservative to Aggressive. The Aggressive tier is the riskiest option but has the highest growth potential. The Conservative tier, on the other hand, is like a high-yield savings account (your money won't grow much, but it isn't at risk). You can use the Acorns mobile app to track your investments on the go. The app is rated 4.7 stars on the App store and 4.6 stars on Google Play.
The main downside of Acorns is that it's possible to pay more than you earn. You can choose between the Personal or Personal Plus plans at $3 or $5 per month, and those fees aren't flexible. In other words, Acorns isn't worth it if you're earning less than $3/month on your investments.
Still, Acorns can be a good learning tool for a beginner. You might want to give it a try if you're interested in investing and aren't ready to commit to a more expensive robo-advisor.
Best For Goal Tracking: YNAB
Why we chose it: You Need a Budget (YNAB) does exactly what its name says: makes you a budget because you really need one. Its tutorials and goal-tracking tool make it a more comprehensive option than other budgeting apps.
YNAB is a finance software company founded for people who aren't financial experts. It's an easy-to-use program that comes with free online workshops and tutorials. Like Mint, YNAB can track your spending and create a custom, categorized budget to help you stay on track.
The key difference between YNAB and Mint is that YNAB isn't free. It costs $15 per month or $99 per year if you pay annually. With that subscription, you get guided tutorials, bill tracking and a goal-tracking tool that analyzes your spending and offers reports in real time. If you share your finances with a partner, you can use the Budget Together tool to establish a household budget. YNAB offers a 34-day free trial (longer than most other paid budgeting apps).
The YNAB app is rated 4.8 stars on the App Store and 4.6 stars on Google Play. Customer reviews show that its interface is clear and easy to understand. But there's one problem: if you do run into challenges, YNAB doesn't offer live chat support or a customer helpline. The only way to reach a customer service representative is through email.
You shouldn't subscribe to YNAB if you're looking for an investment tracker. But it can be a great resource if you're learning how to manage a budget — on your own or with your partner.
Best For Credit Monitoring: Experian Boost
Why we chose it: Experian Boost doesn't just monitor your credit. It actively works to improve your FICO score by incorporating utilities, subscriptions and other payments into your credit report.
Experian Boost operates a little differently from other financial software platforms on this list. If you recently opened your first credit file and want to add a little more substance to your credit report, this is an easy, free tool to help you out.
Here's how it works: when you sign up for Experian Boost, you'll provide access to your checking account. Then the software finds all of your bill payments, including utilities, cell phone, landline, streaming services and other accounts that normally won't affect your credit score. You can choose which accounts you want to include in your credit report. Then Boost recalculates your score and tells you which payments it pulls. It only pulls positive history, so a missed payment won't hurt your credit score.
Boost doesn't have its own app, but you can download the Experian app to monitor your credit from your phone. The app has 4.8 stars on the Apple App Store and 4.7 stars on Google Play. As long as you keep your account open, Experian Boost will continue tracking your on-time payments and update your credit report monthly.
Remember that Experian is just one of the three credit monitoring bureaus — if a lender uses Equifax or TransUnion to check your credit report, they might not see the updated score from Experian.
It's also important to note that Boost works best for people with "thin" credit. If you have multiple credit accounts (credit cards, loans, etc.) and a long history of payments, this service won't have as much of an effect on your report. But Experian Boost is free to use and can't hurt your credit score, so there's no risk in trying it out.
Best For Taxes: Cash App Taxes
Why we chose it: Cash App Taxes is a free tax filing software. Unlike TurboTax, Cash App is 100% free and comes with other financial tools like banking and stock options.
Cash App Taxes, formerly Credit Karma Tax, offers free federal and state filing with no paid plans. You can use this software alone or take advantage of Cash App's other features.
To get started, you'll need a free Cash App account. The software is cloud-based and works from any device. The option to file from your phone can be a huge help if you don't have access to a laptop or desktop computer.
One cool feature of this app is its ability to import your documents — it can integrate with TurboTax, TaxAct or H&R Block to import last year's 1040. Then it automatically fills in your personal information and adjusted gross income. Another plus is that Cash App Taxes supports all major IRS forms and schedules, with no paid upgrades.
Where Cash App Taxes falls short is its lack of advanced features. Other tax software offers live support for more complicated tax situations (independent contractors, married and filing separately, etc.). Because it's free, Cash App Taxes can't help you file foreign earned income or multistate filings.
Still, Cash App has high ratings on the App store, Google Play and independent third-party review sites. It's an easy way to file your taxes for free. Plus, if you want to take full advantage of your Cash App account, you can use its banking and investing tools without a paid subscription.
Other Personal Finance Software We Considered
Those five personal finance software platforms are some of the most popular on the market this year. But they aren't your only options. Check out a few more personal finance tools you might have heard of — and why they didn't make it to the top of this list.
Quicken
Quicken is a reliable finance software program that comes with tons of special features. It could be a good resource for a business owner, contractor, or someone with a complex investment portfolio. However, Quicken's plans can get expensive, and the software has a learning curve. This isn't the right choice for managing basic household finances.
FutureAdvisor
If you're an experienced trader looking for the best robo-advisor, FutureAdvisor is worth considering. It integrates with TD Ameritrade and other investment accounts to track your investments and automatically transfer funds. FutureAdvisor definitely isn't for beginners (it has a steep learning curve and requires a $10,000 minimum investment), but it's a great tool for a growing investment portfolio.
Personal Finance Software Guide
Here's the thing: some personal finance software platforms have better features, more affordable pricing and a higher-quality interface than others. But when it comes to picking your personal finance app, the "best" option for one person might not be best for you.
The right software for you depends on factors such as your income, goals, career, family size and more. To help you narrow down your options, we've put together a quick buyer's guide to the best personal finance software.
What Is Personal Finance Software?
Personal finance software programs are digital tools, or apps, designed to help manage your finances. There are tons of options out there, each with its own unique tools. However, they all have a few features in common, such as:
- Convenience: Personal finance software is designed to make your finances simpler. Whatever software you choose should be convenient, clear, and easy to use.
- Cost-effectiveness: When comparing prices, remember: your personal finance app is only working if you earn or save more money than you spend on it.
- Personal or household use: The tools reviewed in this article are all designed to manage your personal – or household – finances. For your business finances, you'll probably want more sophisticated accounting software.
How Does Personal Finance Software Work?
The first step in using any personal finance program is making an account. You might have to download desktop software or an app to get started. If you decide to use a paid service, you'll pick a plan that fits your budget and make your first annual or monthly payment. Then you'll need to give the software access to your bank accounts, credit cards, investment accounts and any other financial information it needs.
The types of functions and tools your personal finance software has depends on which one you're using. Here are a few of the most common tools:
- Budgeting: Budgeting tools help you create a budget, track your spending and meet your goals. Apps like Mint and Mvelopes separate your budget into clear spending categories to make it easier to track how much you're spending.
- Saving: Some software programs let you automate your savings. That might mean automatically rounding up your change, transferring from your checking accounts or providing regular progress reports.
- Investments: Investment tools integrate with your accounts to automate transfers, track your progress and set up customized plans. If you want an app that focuses mainly on investment tracking, consider a robo-advisor like Acorns.
- Taxes: Tax software will automate parts of your filing process. It can also store important documents and autofill your 1040.
- Goal tracking: Personal finance managing software comes with goal-tracking features to streamline your savings process. Goal-tracking tools record your payments and show you how much you save each month, then offer reports to show how close you are to your savings goals, plus steps you can take to get there faster.
- Credit monitoring: If you want to keep an eye on your credit score, look for an app with credit monitoring. It will show you regular reports and offer pointers to improve your credit. Keep in mind that free credit monitoring programs usually only monitor one bureau at a time. Three-bureau credit reports offer a clearer picture of your credit but are usually more expensive.
What To Consider When Choosing Personal Finance Software
Every software program has its own unique tools and features, as well as its own pricing structure. The goal is to find a platform that fits your budget and comes with all the features you need. Here are a few factors to keep in mind.
Cost
If you're paying more for your personal finance software than it's helping you save, it isn't worth it. Paid plans can be great for investment and advanced budgeting features (YNAB, for example, offers in-depth tutorials to help you save). But if you don't need all that, save your cash and opt for a free software plan.
Your Financial Goals
Do you need help sticking to a budget, or are you looking for personal finance planning software that will grow your investments? Consider your financial goals before you buy a plan. Some apps come with workshops, tutorials or live assistance to help you meet those goals.
Desktop, Mobile, or Both
Most modern software programs come with a mobile app. If mobile use is important to you, make sure you read the app's reviews before you download it — it should be clear and intuitive. On the other hand, if you prefer working on a desktop, look for a cloud-based software program with an intuitive interface. Ideally, your software should be accessible from both your phone and computer.
Financial Tools
Software to manage your personal finances should incorporate multiple aspects: a budget tool, a planning tool, credit monitoring, and so on. But some platforms have just one purpose. TurboTax, for example, will help you file your taxes but doesn't offer much else. If you want comprehensive financial support, more tools are always better.
App Integrations
Do you already use a banking or investment app to manage your finances? Look for personal finance software that can integrate with those apps. Cash App Taxes is a great example — it integrates with other tax software to import and auto-fill your data.
Data Encryption
When you sign up for a personal finance account, you'll be asked to provide banking, credit cards, and other sensitive information. These tools need to access your banking and spending data to do their jobs.
Look up the company's data encryption policies to ensure your software is secure. The software should use sophisticated encryption to protect your accounts and information from hackers.
Customer Support Features
24/7 customer support, either through live chat or a phone line, is a helpful feature of any software. If 24/7 support isn't available, read the company's reviews to find out how quickly an agent typically responds to email queries.
How We Chose The Best Personal Finance Software
This article reviewed five of the most popular financial software options on the market this year. To choose those companies, we compared the year's top options based on a few crucial factors. Here's how we evaluated the software programs that made it to the top of our list:
- Affordability: We looked for personal finance software that offers a fair value for its features.
- Scalable plans: We looked for software companies offering various plans and pricing options, so you can upgrade your plan as you get closer to your financial goals.
- Third-party ratings and reviews: We looked into customer reviews of each program's mobile app and chose platforms with high ratings on unbiased review sites.
- Ease-of-use: Your personal finance software should be easy to use and understand.
- Mobile app option: Mobile apps make it easier to keep track of your finances no matter where you are.
- Security: Personal finance software accesses a lot of your sensitive financial data, like your bank accounts and credit cards. We looked for companies using secure data encryption to protect their users' information.
- Variety of tools: Some personal finance software reviewed in this list is designed for just one use (like taxes or investing). But we looked for budgeting apps that offer a range of additional tools for full-service financial management.
