Regardless of whether you are at the start of your career or already feel confident, most of us are in a constant struggle with personal finances. Good personal finance software can help you manage your money. So, which one should you choose? In this article, we’ll consider the most preferred alternatives, many of which are free or inexpensive.
Personal finance management and accounting
Personal finance management and accounting programs, including applications for home bookkeeping, have a fairly long history and, therefore, are seriously different from each other in their field of application. Reporting level, detail of receipts and costs, planning, investments, data import methods, accounting, security, and currency conversion. All this, and not only this, must be considered when choosing the right product. This class of programs is one of those cases when you shouldn’t chase functionality.
The best alternatives of personal finance software
It offers users applications for mobile platforms, as well as a web version that can be used on a PC. A unique feature of the application, the developers consider the interface that allows you to quickly add income or expenses using “coins” on the main screen of the program. The main features of the service are standard for all applications of this type – the user can set monthly budgets, plan expenses, keep joint financial accounting, use multiple devices for accounting (cloud synchronization is supported), save money for desired purchases, convert to other currencies, and so on.
- Money Manager
A feature of this application is the recognition of checks. You do not need to enter the data yourself: just take a photo of the check, and the application analyzes it and determines the appropriate cost category. In the main window, the main tabs are sorted by time periods, and the transactions themselves display the account, type, amount, category, and other information you can enter. There is also map management, budget planning for individual categories, and the use of a double-entry system.
The service offers automatic updating of banking operations and synchronization with your bank. Clear schedules and financial reviews provide a detailed understanding of the financial situation through bank accounts, credit cards, debts, and cash. You can share selected accounts with family, friends, or colleagues. Everyone can join from any platform – Android, iPhone, or Web. And for enhanced control, you can set limits on your own costs.
An easy-to-use application that allows you to monitor not only individual but also family expenses. Data from all devices are synced, and you can download reports to Dropbox to control your budget. All transactions are sorted by category and displayed on a large pie chart on the home screen. It is especially convenient that you can generate statistics of the proposed budget and not all revenues.
The program will facilitate, as much as possible, the calculation of your assets and liabilities, as well as help you keep track of your budget without using categories. It is also worth noting that GnuCash is often used not only for personal finance but also for commercial purposes. You can create as many accounts as you need. It includes a dedicated reporting and charting module so you can always create a full set of standard and custom reports, including balance sheets, income statements, portfolio valuations, and more.
It is convenient financial accounting software that has both mobile and desktop versions. This service has many features: you can monitor accounts in different currencies (including cryptocurrencies), connect investment or brokerage accounts in several currencies. With MoneyWiz, you can also build a budget and view a large number of reports.