Quicken is one of the most popular personal software tools. It helps you gain control over your spending and saving so that you may live the life you desire while achieving financial independence. In other words, Quicken is a financial software program that has been available since 1983. Quicken was initially released as a D.O.S. application by Intuit Inc, but it was sold to H.I.G. Capital in 2016. It’s a personal financial management application that assists you in keeping track of your spending and saving. So, without further ado, let us dig into the detailed review.
Ease of use
Value for Money
Starting from: $31.19/ year
Pricing Model: Subscription
Yes, has free trial
No free version
- Mobile App Budgeting
- Excellent Customer Service
- Comprehensive Budget Services
- Flexible Transaction Tracking
- Robust Investment Tools
- Limited MAC Features
- Negative App Reviews
- Annual Subscription Fee
- Cloud, SaaS, Web-Based
- Desktop - Mac
- Desktop - Windows
- Mobile - Android
- Mobile - iPad
- Mobile - iPhone
Quicken: Evergreen Financial Software Solution
Quicken is a household name in personal finance, thanks in part to its lengthy history. In 1983, Quicken was released. Unfortunately, its very initial version was DOS-based! As a result, it’s something of a relic among budgeting applications. On the other hand, Quicken still has a lot going for it, even if it isn’t the best financial management tool. As a result, personal Capital is our top pick among the various options for personal finance software available today.
You may be fresh to budgeting if you’ve never heard of Quicken. Quicken is, as previously said, one of the oldest budgeting programs available. And it’s changed a lot throughout the years. It can still be a daunting tool for some, but it’s gotten simpler and more user-friendly in recent years, allowing it to satisfy the demands of both thorough and basic budgeters.
People may now access quicken through its usual downloaded program, which they must manually update. However, you may utilize the product entirely online.
Getting started with Quicken
Quicken is immediately accessible when you join up, allowing you to get all of your finances in order fast and easily. All you have to do to join up is enter your name and email address, choose a password and security question and then confirm that you agree to the terms of service. Then download the program, and you’re ready to take control of your finances!
What is Quicken?
Most budgeting applications are good at only one area of budgeting. Mint, for example, organizes your purchases by expenditure category and suggests a monthly budget. Personal Capital can help you develop an investment portfolio, while Simple, a bank and budgeting tool, automated bill payment.
But what about Quicken? Quicken can accomplish it all, depending on the package you choose.
Every Quicken plan brings together all of your bank accounts in one place and, like Intuit-owned Mint, automatically categorizes you’re spending. In addition, its bill-specific interface allows you to save bills or download them as PDFs so that the program can classify and manage bill payments effortlessly.
Quicken also features over-the-phone customer care, unlike other personal financial applications. In addition, Quicken’s more expensive plans include debt and loan interest tracking and tax assistance.
It’s simple to use, making it ideal for novices or anybody looking to take charge of their finances. Your membership is linked to your bank accounts, credit cards, investments, loans, and other financial institutions, allowing everything to be updated automatically. So you’ll always know where every dollar goes and how much money you have left at the end of the month if you do it this way.
Since its first release, the program has evolved significantly, and there are now several versions to fit everyone’s needs. In addition, Quicken is available for both Mac and Windows computers and is an Android app.
Who Is Quicken beneficial to?
Quicken has grown in popularity among a variety of Quicken users, including:
People who like things to be simpler
Quicken is useful for folks who want an easy-to-understand budget that they can monitor on the fly. Other businesses will make you pay for features you don’t require. Simplifi By Quicken is a new application built exclusively for those new to budgeting and who want to learn how to save and maximize their money.
It also features automated categorization, so it’s immediately placed in a category when you buy anything, so you know where you stand. For example, are you going to the store to get some groceries? Simplifi will notice, and you’ll both notice straight away if you need to cut back on your grocery spending! Getting notifications for overspending and unexpected expenditure is useful; Simplifi and Quicken make it simple and do all the legwork!
Quicken is an excellent accounting program for those who wish to keep track of their expenditures and know where their money goes each month. As a result, people can make budgets, track how well they’re doing each month, and improve their money management skills.
Newbies on a budget
We’ve been budgeting for quite some time now, but we understand that some of you are new to the game! Budgeting does not have to be tough, but it may not be easy to know where to begin.
Not every Quicken application is designed for large corporations with billions of dollars to manage. However, Quicken can help you budget your money without becoming mired down in financial details.
Quicken is also well-liked among investors. This is because people can not only keep track of their investments and see how they are performing, but they can also develop precise budgets for each one.
People in the business world
Quicken is an excellent tool for tracking company spending. For example, it can track how much is spent on items like office supplies and other expenditures related to running a business by creating distinct spending categories for business expenses.
Quicken provides a comprehensive collection of tools to assist you in managing your rental property and personal finances. Its primary features allow you to manage your budgets and transactions, track your assets, and check out expenditure patterns.
The dashboard, also known as the Home page, is where you start your financial management journey. It provides you with a comprehensive snapshot of your money. You may use the dashboard to keep track of your budget, expenditures, and bills. Create several views and choose which financial categories on the Home tab to personalize them.
Features of Personal Finance
Quicken’s money management features can help you better grasp your home expenditures. Quicken provides the functionality you need to attain your goal, whether setting a budget, managing your expenses or saving for retirement.
- Expense management: Organize your accounts and transactions in one spot to see where your money goes. Create new categories, track spending by categories, amounts, or types of costs, view spending patterns, and get a sense of how your money will look in the future.
- Budgeting: Create a budget for yourself or your family and compare it to your actual expenditures. You can effortlessly track your budget on the web or on a mobile device.
- Integration of bank feeds: Connect your bank accounts to Quicken to keep track of your earnings.
- Payment management: For digital bills, use Quick Pay, and for actual checks, use Check Pay. You may also set up automatic billing alerts to ensure that you don’t miss any payments.
- Quicken provides a snapshot of your assets, holdings, and investments, including 401(k)s, 403(b)s, and individual retirement accounts (I.R.A.s). In addition, it features a Lifetime Planner for Windows that allows you to see various financial situations.
Features of a Business
Quicken Home & Business is designed for small enterprises that require basic tools for preparing client estimates and invoices, monitoring accounts receivable and payable, and producing various reports.
- Invoicing: Create personalized invoices using one of many templates and include a PayPal payment link. You may either print or send your invoice to your client.
- Estimates: Create an estimate and print it or email it to your customer. In the Estimate list, you may keep track of your estimates.
- Tracking A/P and A/R: Start tracking your A/R (invoices), A/P (bills), loans, and fixed assets with Quicken Home & Business.
- Find a deduction: Find out if you’re eligible for any of the more than 100 typical tax deductions. If you do, Quicken will allow you to do so.
Features of the Rental
Quicken’s rental property manager has several tools that assist you in managing your duties as a landlord. Quicken Home & Business is the only program that has these features. The following are some of its primary rental features:
- All of your contact data, including rental agreements, security deposits, and move-in and move-out dates, are organized and managed in one spot.
- Management of tenants: Tenant lists, income, spending, bank accounts, papers, loans, and property valuation should all be kept up to date.
- Track the value of the market: Using the integrated Morningstar’s X-ray tool, gain insight into your holdings and view snapshots of your portfolio by type, sector, or allocation (Windows users).
- Receipt scanning: Save your receipt data as a Q.I.F. file or import them into Quicken to simplify expenditure monitoring.
- Document storage: Save and manage documents that are connected to your business.
Web Companion by Quicken
You may utilize the online companion with any Quicken plan for increased accessibility. However, you must first purchase the desktop version to use the online version. The desktop and online versions have the same features. The fact that the desktop and online versions do not instantly sync is a huge drawback. To guarantee that the two versions are up to date with the latest updates, you’ll need to sync before and after use.
App for mobile devices
To manage your money on the go, download the Quicken mobile app from Google Play or the App Store. Your information will be transferred between the mobile app and your desktop application via the Quicken Cloud once you’ve set up your mobile app.
Quicken provides various financial statistics, such as cash flow, profit, and loss (P&L), account balances, transactions, payee comparisons, budget expenditures, cash flow comparisons, banking summaries, etc.
Customer Service & Usability
While Quicken is typically user-friendly, certain of its functions aren’t obvious, and you’ll need to put in some effort to learn how to utilize them. On the other hand, quicken has a lot of customization possibilities, so you may make it unique to your needs.
Quicken provides various support tools, including a Getting Started guide, a community forum, and a help center, to help you get the most out of the software. Quicken is also available to answer any inquiries over the phone or via live chat.
Quicken’s Simplifi focuses on personal money. Although it lacks the rental property functionality of Quicken Home & Business, Simplifi provides more efficient financial tracking due to its mobile and web browser accessibility. However, keep in mind that Simplifi is not the same as Quicken. Simplifi, unlike Quicken, is entirely cloud-based, with no desktop client and access through a web browser or mobile app.
Here are a few of Simplifi’s highlights:
Spending and saving management: Simplifi allows you to keep track of your spending across your bank accounts, define income and cost categories, and set specific saving objectives. Quicken Starter cannot create personalized saving goals.
Budgeting: Make a one-month budget, set aside money for savings, and keep track of your expenditures. Simplifi only offers one budget every month as a personal money tracker. We recommend any Quicken package if you require numerous budgets and rollover budgeting capabilities.
Simplifi can auto-detect invoices, provide you alerts about odd bills, and forecast your financial flow. These features are helpful for budgeting and maintaining a healthy cash flow.
Debt, investment, and mortgage tracking: Simplifi may act as a tracker for debt and equity instruments. You can put money into education (529) and custodial accounts, as well as retirement 401(k), I.R.A., and 403(b) accounts (b). You may also keep track of the value of your property and your net worth.
The top alternatives that are available in the market to Quicken are listed down below:
- Personal Capital
- Pocket Smith
This tool is mostly for managing investments, although it may also be used for basic budgeting. It offers a user-friendly layout and a useful retirement planning tool.
This reminds me of Quicken’s younger brother. It’s from the same firm, and it’s a free app with many of the same features as Quicken, such as budgeting and savings goals. However, I enjoy how it looks and find setting up less frightening and time-consuming than Quicken.
PocketSmith is a personal financial software tool that connects your bank accounts, investment accounts, loans, and credit cards to provide you with a broad perspective of your money and help you calculate your net worth.
The capacity to anticipate your money and execute what-if scenarios to project future balances is a nice tool you’ll discover here. Other capabilities include budgeting, putting up notifications if your money is running low, and setting up bill-paying reminders, albeit there is no real bill-paying mechanism.
There is a free version, but it is very basic and requires you to enter your bank information manually. The Premium edition costs $9.95 per month or $89 per year and allows you to link up to 10 accounts, integrate bank feeds automatically, and create 10-year budget estimates. The Super plan, which costs $19.95 per month or $169 per year, includes 30-year budget forecasts and the opportunity to link an unlimited number of accounts.
Quicken Review Conclusions
Quicken is a wonderful option if you’re searching for personal finance software that will help you track your spending, save money, and manage your investments. Overall, I can say that Quicken is a fantastic personal financial tool that can assist you in managing your budget, bills, and assets. It includes a variety of functions to meet a variety of demands, and people can use it on desktops, Android phones, and iOS mobile devices.
It is one of the most popular personal financial applications accessible, and it has a lot of functions to offer, as we discussed previously. However, it may be costly and difficult to use, so weigh all of the benefits and drawbacks before choosing if it’s appropriate for you.
Quicken is a fantastic value for money if you’re searching for a relatively simple solution for simultaneously handling your company and personal accounts. Thanks to its mobile app, it offers a nice range of features, and you can manage and check your accounts on the move. Small companies and rental property owners searching for an easy method to manage their money would benefit the most from Quicken Home & Business.