Best Personal Finance Software – About.com’s Top Picks

Managing your finances can feel overwhelming. Thankfully, a variety of personal finance software programs are available to help you track spending, create budgets, and plan for your financial future. About.com (now part of Dotdash Meredith) provided comprehensive reviews of these tools, guiding users toward the best options for their specific needs. Although About.com no longer exists, their recommendations remain valuable insights for anyone seeking financial software.

Key Considerations When Choosing Software

Before diving into specific recommendations, About.com emphasized the importance of considering several factors:

• Budgeting Needs: Do you need detailed budgeting capabilities or simply want to track expenses?
• Investment Tracking: Are you actively investing and need software to monitor your portfolio’s performance?
• Goal Setting: Do you have specific financial goals (e.g., buying a house, retirement) that you need help planning for?
• Ease of Use: Is the software intuitive and user-friendly, or does it require a steep learning curve?
• Cost: Are you willing to pay a monthly subscription fee, or are you looking for free options?
• Mobile Access: Do you need to access your financial information on the go via a mobile app?
• Security: Does the software employ robust security measures to protect your sensitive financial data?

About.com’s Recommended Software (Historically)

While About.com’s reviews are historical, their recommendations often included:

• Mint (now Credit Karma): Frequently praised for its free price point and user-friendly interface, Mint (now integrated into Credit Karma) was a popular choice for basic budgeting and expense tracking. It automatically categorized transactions and provided visual reports of spending habits.
• Personal Capital (now Empower): Personal Capital (now Empower) was recognized for its investment management tools. It offered a comprehensive view of your net worth, investment performance tracking, and retirement planning features. A free version was available, with more advanced features offered in a paid subscription.
• YNAB (You Need a Budget): YNAB was a strong contender for serious budgeters. Its zero-based budgeting approach and focus on assigning every dollar a purpose helped users gain control of their finances. It usually required a subscription fee.
• Quicken: Quicken was a long-standing player in the personal finance software market. It offered various versions tailored to different needs, including budgeting, investment tracking, and property management. It typically required a one-time purchase or a subscription.

Beyond Specific Software: General Advice

About.com also provided general advice on managing your finances effectively. This included:

• Creating a Budget: Understanding your income and expenses is crucial for financial success.
• Tracking Spending: Monitoring where your money goes helps identify areas where you can cut back.
• Setting Financial Goals: Having clear financial goals provides motivation and direction.
• Paying Off Debt: Reducing high-interest debt frees up cash flow and improves your financial health.
• Saving for Retirement: Starting early and consistently saving for retirement is essential for long-term financial security.

While the specific software recommendations from About.com are from the past, the underlying principles and considerations remain relevant. By carefully evaluating your needs and comparing the features and pricing of different programs, you can find the right personal finance software to help you achieve your financial goals.