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Top 6 Best Free Personal Finance Software

Best Free Personal Finance Software

By Kendra D. Mitchell | Jun 22,2020 11:40 am

Best Free Personal Finance Software

What benefits come are attached to personal finance software applications?

  • Personal finance software is equipped with processes that allow automatic transfers, assessments, creating a financial plan, monitoring evaluation, budget planning, analyzing investments, scheduling bill payments, account reconciliation, tax management, and preparing tax-related reports.
  • It helps in minimizing expenses by making a comparison between different months.
  • The entire financial scenario is monitored to avoid losses, earn credits, make payments on time, and avoid late payments.
  • The goal is set, which is accomplished by personal finance software as it assesses the financial statements, income statements, and balance sheet to create and manage budgets.
  • Graphs, reports, forecasts, online banking, reconciliation, investment accounts, statement reconciliation, cash flow statements, email notification, data importing, and exporting are some of the features of the best free personal finance software.

Hence, this article will introduce 6 free powerful personal finance software. Never miss it. let's start!

01
of 06

Mint

URL: https://www.mint.com/

Mint is personal finance software that is a product from makers of Turbo Tax and QuickBooks to manage money. It is a free app that helps in bringing financial data in one place, easing the job of budgeting, spending, and billing. A budget can be prepared by keeping goals, reminders, and syncing data from all other places in one place. It offers higher security and factor authentication. Investments and portfolios can be tracked properly. It is best suited for iOS and Android apps.

Pricing: 100 % free.

best personal finance software

Pros:

  • It is a highly secured and versatile app.
  • It can be accessed on phones and tablets.
  • The budget is categorized to ease tracking.
  • Saves time, easy to use, and additional features are frequently updated. Provides easy support.
  • Best for beginners.
  • Unlimited credit scores.

Cons:

  • Retirement tracking has limited features.
  • Works with selected banks only.
2
of 06

Buxfer

URL: https://www.buxfer.com/

Buxfer is a super-fast tool having a strong presence in the market for managing personal financial accounts. Buxfer basic is free and is highly used by people. It helps in monitoring spending and keeping track of financial account balances. The financial tools help in getting an idea as to how much is spent against how much is earned. Once the bank account is linked, Buxfer fetches financial data and syncs automatically from credit cards or banks.

401 K, IRA, and many more investment accounts are supported by Buxfer.

Pricing: Basic is free; for more advanced features, the plans start at $1.99 per month.

free personal finance software

Pros:

  • High-grade security.
  • Supports envelope budgeting.
  • Works on both desktop and mobile apps. Forecasting helps in planning for short term goals—wide access control.
  • Supports over 20,000 financial institutions.
  • Regular audits are conducted.
  • Tracks account in different currencies.

Cons:

  • Limit for reporting options.
03
of 06

Personal Capital

URL: https://www.personalcapital.com/

Personal capital is the most sought, best free personal finance software for mac. Although there are premium services offered by the company, the free version too offers many significant features. It provides a complete wealth management service to businesses and individuals. All financial data is gathered in one place with its automated processes. It is good at analyzing the data i.e., cash flow, budgeting, and net worth, etc.

Price: Free.

best personal finance software

Pros:

  • It assists in planning for retirement by tracking investments, i.e. both investment and budgeting happen in one place.
  • Advice from fiduciary financial advisors and expertise.
  • Easy to use on mobile and internet.

Cons:

  • The minimum investment is $100,000 to get wealth management service.
  • Higher fees for wealth management services.limited budgeting capabilities.
04
of 06

Every dollar

URL: https://www.everydollar.com/

Every dollar is a free personal finance software that completely manages money. The budgeting feature is great to use and understand. It is based on the envelope method of budgeting. Double-entry accounting is used for balancing books. Customers, vendors, payrolls, bills, etc. can be managed efficiently and effectively with the help of small business accounting tools.

Price: Free version for 15 days. The paid version has additional features.

free personal finance software

Pros:

  • The best app to learn to budget while using it.
  • Strong support system via chat, live sessions.
  • There are no ads and promotional elements in the free version.

Cons:

  • No automatic downloading of transactions.
  • Expensive software.
  • No two-factor authentication.
  • Cannot import QFX files.
05
of 06

GnuCash

URL: https://www.gnucash.org/

This is a free desktop software that helps in tracking bank accounts, incomes, and expenses. Many reports can be generated to see financial data. It works well with Windows, Mac OSX, and Linux. Contractors and business owners are benefitted with the Gnu cash app as it helps invoicing and internal billing.

Price: Free version.

personal finance software

Pros:

  • Small business accounting needs are taken care of.
  • Reports and graphs can be customized.
  • It is compatible with Windows, Mac, and Linux.
  • The multiple currency accounts are best for international business.

Cons:

  • Limited support.
  • Transactions are not imported easily on mobile apps.
06
of 06

Home bank

URL: http://homebank.free.fr/en/index.php

This is free software that helps in managing personal finance. There are powerful filtering and investment tools. It is available on Windows, Linux, Free BSD, macOS. Data can be imported easily from Intuit Quicken or any other software. It imports bank account statements.

Price: Free.

free personal finance software

Pros:

  • User-friendly interface.
  • Preinstall packages for major Linux distributions. Many accounts can be added to the program. Different reports can be generated.
  • Multiple currencies.
  • Automatic numbering of the cheque.
  • Detects duplicate transactions.

Cons:

  • Lacks full import capability.
  • It takes time to load several accounts.

Summary

Each free personal finance software described is suitable based on their processes.

  • Mint – best for budgeting purposes.
  • Every dollar – it is a better free version similar to YNAB.
  • Personal capital - better known for as “investment advisor”.
  • Gnu Cash - best for small or micro-businesses.
  • Buxfer - best for retirement planning, forecasting, investments, and handles long term goals.
  • Home bank- best known for Supporting various Operating systems.

Financial data is securely saved on developers or providers servers in the best personal finance software. The best free personal software must have good connectivity and also financial tools to help in easing budgeting and planning.

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