Quicken is one of the most recognized names in the personal finance industry.
This juggernaut of a company has been around since the 1980s but is still one of the most popular choices for financing software.
Today, Quicken has expanded its lineup to include Quicken on the Web and the Quicken Mobile App for iOS and Android so customers can manage their finances anytime, anywhere, on any device.
Being able to access financial data on one platform easily is a huge must for a financing software.
We appreciate Quicken’s robust software that simplifies the entire process of viewing, managing, and tracking your finances. However, keep in mind that the tiered package you choose will determine how deeply you can dive into your finances.
For example, with the Starter package, you can view balances, budgets, accounts and transactions, see your spending trends, search transaction history, and overall keep your finances up-to-date.
However, if you have the Deluxe package, you’ll have access to Quicken’s planning tools. The Deluxe package includes a feature that allows you to see how to pay off loans faster and save more money by tracking principal and interest payments.
But, if you choose the Premier package, you’ll gain access to the Investing tab. Here you can see how your investments perform for more informed buy/sell decisions, make tax time easier by tracking your deductions and creating reports, guarantee maximum tax benefits with prepared statements at tax time, and track cost basis and estimate capital gains. Plus, this option comes with free online bill pay and priority customer support.
Quicken offers a 30-day money-back satisfaction guarantee. This guarantee ensures that you can return Quicken or get a refund for the Premium Support subscription for any reason within 30 days and receive a full refund of the purchase price (minus any shipping and handling fees).
Quicken includes a Debt Reduction calculator. This feature is handy as it allows you to look at the big picture and develop a plan for reducing your debt. This process only has three steps and isn’t too difficult to figure out.
All you need to do is identify your debts (this is done by Quicken searching your data for loan and credit card accounts with outstanding balances).
Once this is done, you’ll need to check and make sure all relevant information is there (things such as your Interest Rate (APR) and Minimum Payment, etc.).
The last step is determining how much you want to pay on your debt each month. Quicken needs to know the cumulative amount you wish to pay — not the individual payment amount of each of your debts. Based on the total amount you want to spend, Quicken will create an optimized payment schedule to reduce interest costs and pay off your debt as quickly as possible. All amounts are rounded up to the nearest dollar.
You can even adjust a slider to see the effect of various monthly payment amounts on your debt. Or you can simply type in a new payment amount.
Another feature that comes in handy is Quicken’s ability to sync with your bank and investment accounts. This feature automatically pulls your account balances, transactions, and even your investment performance.
If you want to see Quicken’s list of supported financial institutions, there is a link you can click on the website.
However, if you are concerned about Quicken’s ability to sync with your bank, it isn’t required. Bank synching is entirely optional. You can either manually enter all your transactions or download a CSV file and upload those; the choice is yours.
Quicken’s mobile app is not as comprehensive as its computer software, but for those who want to occasionally check-in on their finances while they’re away from home, it’s a pretty good solution.
The app allows you to access your data while you’re away from home. You can easily enter transactions, take pictures and store the receipts, view your account balances, see your spending trends, and more.
Whether you get the Starter, Deluxe, Premier, or Home & Business package will determine your final price. The tiered pricing is based on the features you use, as well as which product you choose.
Like the majority of personal finance software applications, Quicken has transferred to a subscription model. Instead of purchasing the software once and only upgrading when you feel like it, you pay an annual subscription and automatically receive any software upgrades.
Unfortunately, there is no Home & Business tier for Mac users.
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