If you struggle with personal finance, you aren’t alone. From keeping up with the Joneses to ignoring unpaid bills, most of us aren’t always on top of our own money matters. In fact, one survey by Bankrate found that over half of all US adults lose sleep over financial worries.
Turning over a new leaf isn’t always easy, but it gets easier with the help of the right tools. With a spectrum of finance management software options available, there’s no reason not to track your money. It’s just a matter of which one works for you!
If you’re ready to get started, here are the top five to choose from.
As one of the most established personal finance software on the market, Quicken is a great place for any user to start. Quicken allows you to create budgets and track debts with ease, but it’s also great for managing other aspects of your life, including checking your investment portfolio.
It’s worth noting, of course, that the software isn’t free. However, the pricing options offer flexibility for different types of users.
This free tool may not be as powerful as Quicken, but it’s great for simple expense tracking and more. Through Mint, you can analyze your spending habits to see how to improve your finances. It even allows you to set up alerts for budgeting, bills, and more—and since it syncs between the app and desktop version, you can take it with you wherever you go!
Though TurboTax may not be necessary throughout the year, you may be grateful you have it come tax season! This user-friendly software can help you file your tax return with greater accuracy, with just a few simple data entry steps.
Don’t forget, of course, that you still need to gather your own documentation for your records. If you need a paycheck stub as proof of income, for example, you’ll need to do that as well.
It’s free to start with TurboTax, but extra guidance and expert help come at a higher price point.
Standing for “You Need a Budget,” YNAB offers flexible personal budgeting that harnesses the power of goal-setting and reporting. Better still, it’s beginner-friendly, with plenty of tutorials to help you grasp financial concepts and build better habits. Though YNAB offers a free trial, it’s a monthly subscription service, so you’ll need to factor the bill into your finances moving forward.
Financial advisors can charge a pretty penny—which is where FutureAdvisor comes in. This software is designed to help you develop an investment portfolio that works for your needs, without the stress of trying to pick the right options yourself. Of course, FutureAdvisor still comes with a fee: though it’s free to open an account provided you have $5,000 to invest, but the portfolio management will cost you a flat annual fee of 0.5% of the managed assets.
Find the Right Personal Finance Management Software for You
Each of these tools offers a slightly different experience, but all of them can help you stay on top of your money troubles. Try your hand at the finance management software tools above to see which one works best for you. Don’t forget to stick with it to establish better financial habits!
For more of the essential tips you need, in finance and beyond, check out our other helpful guides.