The following financial platforms can help one save money, budget more efficiently, and invest in various financial instruments. Whatever an individual’s personal goals may be, here are the best personal finance software available in 2021.
Acorns
The Acorns application is one of the easiest ways to grow an investment account without even noticing. The application automatically invests the rounded-up “spare change” into an investment portfolio.
Pros:
- The cost is inexpensive. Acorns offers three monthly plans ranging between $1 and $5.
- It’s fast and easy to open an account.
- The Family plan offers investment accounts for children with no additional cost.
- The platform offers investment accounts, retirement accounts, and checking accounts.
- Acorns offers money back at select retailers when making a purchasing with the spend card.
Cons:
- Investment performance is not guaranteed.
- It can take multiple days to sell the assets within an ETF. This may delay the process of withdrawing any funds.
Mint
Mint is a user-friendly tool designed to help track spending, budgeting, and debt management. The software combines all a user’s accounts in a condensed dashboard.
Pros:
- Mint is free to use with advertisements.
- The interface is extremely user-friendly.
- Mint introduced subscription monitoring in 2021.
Cons:
- Some users report too many notifications.
- The set up process can be lengthy depending on the number of accounts added to the platform.
Honeydue
Honeydue is a personal finance software for couples that have combined and separate finances. It simplifies the management of personal finances for couples with joint and individual accounts.
Pros:
- Honeydue is completely free to use.
- Additional features are consistently getting added.
- It encourages partners to talk about finances.
Cons:
- The user interface could be optimized for navigation.
- Honeydue allows one party to hide accounts from the other.
YNAB
YNAB is arguably the most advanced budgeting tool on the market. It is said to be the best way to develop a long-term budget.
Pros:
- YNAB offers a long free trial period.
- There is plenty of financial education integrated within the platform.
Cons:
- The monthly subscription fee is $11.99.
- YNAB has an outdated user interface.
Personal Capital
Personal Capital is a tool that focuses on financial matters beyond budgeting and payment management. It caters to the more advanced aspects of financial management.
Pros:
- It’s free to use for basic features.
- Personal Capital offers plenty of educational resources.
Cons:
- Wealth-management services include fees.
- The savings goals are geared best towards retirement.
The best personal finance software for you may not be the best for somebody else. It depends entirely on your individual needs and situation.