Comparison of Personal Money Management Software

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    Quicken

    • Quicken is a personal finance software that lets you create budgets and automatically tracks your spending. The software version is available for purchase in different increments. The more expensive the version, the more features it has. Quicken also offers a free online version, though it has much less functionality than the paid software. Quicken allows you to enter your bank, credit card and other financial account information. The software then automatically downloads account information like transactions and balances to keep all your account information up to date in one location. It also has alerts for upcoming payments and can create easy-to-read graphs and charts to display various financial information.

    YNAB

    • YNAB stands for "You Need a Budget." It is a personal financial software available for purchase, though there is a 7-day trial available so you can test the software before purchasing it. It allows you to make a detailed budget and track your spending as compared to the budget. It also helps you categorize all expenses for easier tracking and organization. The software is primarily a budgeting software designed to help you get control of your personal finances. The budget will help you start saving and get out of debt, as well as manage day-to-day expenses.

    Mint

    • Mint is a free online personal money management software service. Mint allows you to create a few accounts, then enter all of your personal finance account information so the program can track and update all of your different accounts, including bank, mortgage, credit cards, student loans and other financial accounts. Mint also has a budgeting tool to create different budgets and manage your money, and it helps you track your investments as well. The company makes money not from selling the service, since it is free, but from advertisements on the site. The data is all stored online, as opposed to your hard drive.

    Mvelopes

    • Mvelopes is another personal finance software tool. It is a paid service, though the website does offer a free trial so you can test the software with no obligation. It is primarily a budgeting and money tracking service. It helps you categorize your money and expenses into different "envelopes," or categories you can use to designate specific dollar amounts so you only spend a certain amount in each category. The software also includes automatic online bill pay, net worth tracking, customer support, and access from mobile devices. Like Mint, the information is stored online as opposed to your hard drive.

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