With today’s fast-paced industries and ever-changing consumer behaviors, brands need personal finance software for hassle-free finance-related systems. A personal finance software saves you time and lets you experience frustration-free financial tracking. But with so many finance software tools out there, it’s hard to choose a suitable one. We’ll tell you what to look for in personal finance software and include the top 5 best personal finance software of 2022.
What is finance software?
Finance software is a platform that helps users to plan, automate, store, and assist in finance-related issues. It can either be used for business or personal finance planning. This type of software also handles the processing, analysis, storage, and management of financial transactions. If you have had trouble setting and tracking financial goals, then using finance software is the key to seamless planning.
How to choose the best personal finance software
When selecting the best personal finance software, it’s essential to weigh these crucial elements. Choosing one means you’ll have to determine what your goal is and how you want the processes to go. Watch out for these:
- Cost: How much is it? Does it offer value for your money?
- Features: What features + benefits does it offer?
- Goal setting: How do financial goal setting and tracking work?
- Security: What security features are used in the platform to ensure your information stays private and confidential?
- Financial education: Does the platform offer extensive financial training and education to help you in planning?
- User-friendly: Is the platform easy to navigate?
- Customer reviews: What do customers say about the platform?
Top 5 best personal finance software of 2022
Below are some of the best personal software of 2022 that you can use.
Considered one of the best overall finance tools, Quicken Premier helps you manage spending, pay bills, manage investments, and even plan retirements. It has the most valuable features compared to other tools on this list. The most notable feature is its ability to run specific scenarios that you might face in the future in terms of investments and loans.
If you’re having trouble with tax filing and computing, use TurboTax to solve all your tax problems. It offers a user-friendly interface with the option to use multiple versions. It’s easy to file your taxes from the platform. Plus, you’ll get advice as you go, with the help of a file expert to file for you.
YNAB is the perfect choice if you want personal finance software that dwells on training. It helps you develop financial habits that can keep your finances in check. You get a lot of learning opportunities from the app, such as podcasts, articles, guides, and live workshops to help you budget. Plus, the app lets you try the services for 34 days risk-free!
This finance software is called Mvelopes due to how the process of financial planning is done in the app. It dwells on the traditional “envelope” style of financial planning and budgeting, which makes this app easy to navigate. It also breaks down your income and helps you allocate your budget and expenses into different categories.
If you want an all-around personal finance software that tracks your complete financial information, Mint is a suitable app. It’s the most highly rated and popular app on this list, with a user-friendly interface. It can track finances such as credit cards, banking, investments, and retirement plans like the 401(k).
