In the world of personal finance software, tools like Quicken offer a comprehensive way to manage finances across various financial institutions. Quicken, known for being one of the oldest personal finance management software companies, provides a user-friendly interface and a broad range of features. While it shares the same parent company with Simplifi by Quicken, they are distinct products.
To see how they compare, consider reading this Simplifi vs Quicken review. Quicken caters to those seeking an all-in-one solution for tracking daily spending and long-term financial goals. Continue reading my Quicken review to determine if it is right for you.
Quicken Pros & Cons
Pros:
- Comprehensive, intuitive platform
- Competitive pricing with a one-time fee
- User-friendly for both personal and business use
- Free demo and 90-day money-back guarantee
- Available on multiple operating systems
- Prioritizes data security with robust protocols
- Simplifies management of personal and business finances
- Centralized overview of financial accounts
- Novice-friendly educational resources and support
Cons:
- Crowded dashboard interface
- Steep learning curve for beginners
- Occasional syncing issues
- Lacks double-entry accounting system
- Limited mobile app functionality
Quicken History
Quicken, with its roots dating back to 1983 for MS-DOS and the Apple II, is a renowned accounting software focused on personal finance management. It’s celebrated for its 40-year journey to becoming a user-friendly and reliable tool, especially for beginners.
Over the decades, under the leadership of CEO Eric Dunn, Quicken has evolved to meet modern financial tracking needs, making it a trusted name in households for managing finances.
Quicken Features
Here are some of the most powerful features users can expect from Quicken:
- Specialized Business Tools: Offers custom invoicing and tracks both personal and business finances, including property values.
- In-house Bill Paying: Enables bill payments directly from the dashboard, including utilities and mortgages.
- Lifetime Financial Planning: Features the “Lifetime Planner” for long-term financial goals and scenarios.
- Personal and Business Use: Simplifies switching between personal and business financial tracking.
- Comprehensive Financial Overview: Provides a centralized view of bank accounts, investments, bills, and credit cards.
- Educational Resources: Includes guides, tutorials, and forums for user assistance.
- Income Tracking and Categorization: Details various income sources for better budgeting.
- Expense Tracking: Records and categorizes expenses for financial analysis.
- Savings and Investment Tracking: Monitors different financial accounts, including real-time investment updates.
- Budgeting and Financial Goal Setting: Integrates financial data for effective budgeting and goal tracking.
Quicken Pricing
Quicken’s pricing is designed to fit different user needs, offering several plans. Here are the plans with a bit about what type of user each plan is best for:
- Simplifi: Priced at $2.00/month, suitable for basic budgeting and spending tracking.
- Quicken Deluxe: At $2.50/month, provides more features, especially cost-effective with annual payment.
- Quicken Classic: Costs $3.50/month, ideal for more comprehensive financial management.
- Quicken Home and Business: For $5.00/month, it adds features for rental property or business tax filing.
Each plan is available on both desktop and mobile, with inclusive phone and chat support.
Quicken Alternatives
With the FinTech space experiencing exponential growth over the past few years, many financial planning and budgeting apps have emerged. Here are a few of the most popular alternatives:
- Monarch Money: Monarch Money is a personal finance app that simplifies managing your finances. It connects with various financial institutions, allowing you to track accounts, transactions, and investments in one place. Its standout features include financial goal setting and budgeting tools, all within a user-friendly interface. Monarch Money is known for both its comprehensive financial overview and data security.
- Banktivity: Banktivity is a personal finance software tailored specifically for Mac users, offering a suite of financial management tools. Key features include budgeting, bill payment, investment tracking, and tax reporting, all integrated into a user-friendly interface with customizable views.
- Moneydance: Moneydance is a versatile personal finance software that excels in budgeting, investment tracking, and overall account management. Known for its ease of use, it provides detailed reporting and a comprehensive view of finances in one platform. Ideal for those looking for an integrated financial management solution, Moneydance is especially user-friendly and feature-rich.
Conclusion
Quicken is much more than just a financial tracking tool; it’s a comprehensive system tailored for both personal and business finance management. With a history dating back to 1983, it has evolved to meet modern needs under CEO Eric Dunn’s leadership, becoming a household name for reliable financial management.
Its user-friendly interface, diverse range of features like custom invoicing, bill payments, and lifetime financial planning, cater to various user needs. Quicken’s pricing structure offers options for everyone, from basic budget tracking to more complex business financial needs, ensuring there’s a plan for every type of user.
Despite some challenges like a crowded interface and steep learning curve, Quicken’s benefits like centralized financial overviews and extensive educational resources make it a valuable tool for achieving financial clarity and goals. If Quicken sounds like a good fit for your financial needs, Click Here to get started.