As more people look for ways to better manage their personal finances and for businesses to gain better control of their cashflow, a myriad of financial software products have been created and launched to cater to this rising demand. But how do you know which financial software system best fits your needs? Here are three popular and rigorously tested financial software products you should take a look at.
Quicken
One of the most important metrics when gauging financial software or any product for that matter is how well established it is in the industry. Having been around for almost four decades, Quicken is a suite of personal finance management tools that are designed to help with financial planning, such as monitoring and recording bank transactions, creating a specific budget according to your income/expenses, and measuring your overall progress towards predetermined financial goals. Since its inception, Quicken has expanded to numerous financial marketplaces outside of the U.S. and is available in different OS versions.
Mint
Another widely popular personal finance platform is Intuit’s Mint. Launched in 2006, California-based company Mint runs a digital platform that provides its users with a way to manage money. Through its dashboard, you get all your financial information aggregated into one central location. You can view your cash balance, credit cards, investments, and monthly recurring bills. The platform has some special features, like Personalized Mintsights, that help you find savings you can capitalize on and expenses you can curb.
You Need a Budget
Also known by its acronym YNAB, You Need a Budget differentiates itself from the first two options in that the software is designed to instill better financial habits that can improve the user’s long-term financial wellbeing. The platform lets you put in your budget and gives you the ability to manage your finances. On top of that, however, you also get helpful resources delivered to your account, such as tutorials on how to better manage a savings/checking account. To give you better insights tailored specifically for your situation, YNAB links automatically to your bank account to keep track of your expenses and earnings.
These are only a few of the many financial software products out there that can help you regain control of your finances. Most, if not all, of these applications offer a free trial period, so you can test out the platform without having to financially commit to a monthly or yearly plan.