February 12, 2013

If you want to improve your finances, it helps to have a solid idea of what is going on. Unfortunately, we as humans have a pretty poor ability to track what we earn and what we spend. As a result, it helps to have some sort of method of keeping track outside our heads.

For the longest time, pencil and paper, in the form of a checkbook register and/or ledgers, was the preferred method. Now, though, its possible to get personal finance tracking software that can help you stay up to date with ease, including applications for your mobile devices.

Not only that, but most personal finance software applications will use your data to create visually appealing graphs that clearly illustrate your situation, and reports that detail your past spending. You can even use some personal finance tracking software to create projections of possible outcomes if you keep on with your current actions.

What is the Best Personal Finance Software?

There are many different personal finance software programs out there, and what you decide to use depends largely on your goals, your money style, and your current financial picture. There are basic budgeting apps that do little more than allow you to track your spending quickly and easily, and there are more involved programs that will even keep tabs on your investment portfolio.

Personally, I have long been a fan of Quicken. Its what I used for years. However, when the Mac operating system stopped support Quicken 2005, I knew I was in trouble. The new Quicken has proved to be fairly powerful, and Windows users seem to like it. However, Mac users dont have the same experience with the new Quicken. So, right now, I use Moneydance. Its not quite as awesome as Quicken 2005, but it has a similar ledger set up, and it makes reconciling my statements each month fairly easy. Plus, I can enter information about my investment accounts and loan accounts.

If you are more into old school money management with straightforward features, Quicken is a great choice. And if you are looking for a Quicken alternative, Moneydance will do. Both of these programs allow you to link your accounts online, to make tracking that much easier.

But what about other personal finance tracking software? Here are a few suggestions for great personal finance tracking software for a variety of needs and goals:

• Mint . This is one of the most beloved budget tracking apps. Link up your accounts, and see where your money is going. Quickly see your spending, and watch for trends. Use that information to change your habits.
• YNAB . Mint is more about seeing where your money has already gone. YNAB is about actually giving your money a job. This is one of the more active personal finance tools, since it doesnt automatically link your accounts. It requires you to think about your spending ahead of time and plan out your expenditures. This software is perfect for those who like the concept of zero-based budgeting.
• Personal Capital . If youre ready to add investments into the mix, Personal Capital is a great personal finance tracking app. Not only do you get the budget tracking aspects, but you also get portfolio management help, and a look at your assets.
• LearnVest . This is another great software application that provides you with the ability to see all your assets. Plus, you can pay for planning services that help you create a five year plan.
• ReadyForZero . Get help paying down debt with this program. You can create a personalized debt repayment budget, and then track your progress.

No matter your goals or situation, there is a personal finance software program to fit your needs.

Whats your favorite personal finance software? Leave a comment!

Last updated by Miranda .

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