ACCOUNTING

Quicken Review 2021: How Can You Manage Your Money Better?

Table of Contents

Quicken review

Quicken is a popular personal accounting and budgeting app that also serves as a home and small business accounting tool.  Quicken Home & Company’s official line is that it’s “suitable for all business types,” but the features are better for small personal enterprises and secondary revenue from rental properties invoices.

Quicken allows you to see all of your banking, investment, retirement, and credit card accounts in one location. You can see what’s coming up and what’s out and see at a glance what the balances will be when you pay your bills. You should even set up reminders so you never miss a deadline. Learn how to use Quicken as a personal budgeting app to increase your financial independence in this Quicken review.

 

Features of Quicken

Create A Budget and Manage Your Spending

Quicken makes it easy to manage your revenue and expenses and their dashboard is especially useful for people who need a single, easy interface to display all of their expenses.

You can conveniently import all of your savings, such as cash and home value, when deducting your expenses and debts, such as student loans, mortgages, and credit card balances.

This financial management software can also chart your net worth over time. Quicken has a unique collection of built-in calculators for savings, pensions, retirement, mortgages, and more.

Your money will be put to good use, and you will be able to double-check through expenses that need to be reduced.

 

Pay Your Bills And Check Your Income

Quicken offers a bill manager service that allows you to monitor which bills are due and add new bills even when you are not connected to the internet. It will organise all of your updates and display them in the same interface, eliminating the need for you to open new tabs for your bills. You should make a budget that is specific about where your money should go.

You can pay your bills offline or online using your bill manager, allowing you to stay on top of them.

 

Retirement Plan

Various financial management software programmes are available today to help you prepare for your financial retirement plans. Considerably, there are many ways to waste your money irresponsibly before or after your working years. Quicken has a Lifetime Planner that serves almost like a consultant to advise you on your pensions, social security, retirement income, and investments to help you stretch your money into the golden years. You can run a retirement simulation and help refine the budget accordingly.

 

Property and Investment Management

Users who want to keep track of their IRAs, shares, ETFs, and other liquid and retirement holdings will do so from a single dashboard. Quicken allows you to group portfolios by form, brokerage, or asset class if you want to customise your watch lists for stocks. Users have complete control over which properties and assets are essential for your long-term financial planning. Quicken allows you to monitor which side investments are essential to your portfolio in this manner. You can also use the app’s market watch list to identify new opportunities, as well as display IRR and ROI reports for all of your open portfolios.

 

Organise Your Taxes

For a financial planning software to be as realistic as possible, Quicken works perfectly using a What-If analysis to see tax implications when selling. You can track any tax related to rentals, property values, loans, incomes, expenses and more. When saving, you can use Quicken’s Tax Planner to subtract your taxes and generate reports for long-term capital gains or losses.

 

Data Security And Customer Support

Protecting your financial accounts is very important for Quicken. They have dedicated hacker-prevention methods for online and cloud storages. All of your financial information is encrypted using an SSL or Secure Socket layer and is directly transferred to their firewall-protected data servers. They also have a Password Vault feature that you can set up when you log in with your private credentials. For Mac users, you can also have the option to store passwords in the Mac Keychain.

Customer Support is also very detailed and reliable since Quicken has been operating since 1983 and is constantly updating its technology. They provide massive online support through video tutorials, customer service, and articles for their Quicken software.

 

How Much Does Quicken Cost?

Quicken offers a variety of features for making a budget and handling your bills beginning at $35.99 per year. Many Quicken users, on the other hand, believe that opting for the Deluxe tier ($46.79/year) is more beneficial for customising your budget, tracking your debts, and creating savings targets. However, previous subscription plans can only support freelancers and those working for a small team. If you want a more feature-rich pricing bundle, their Premier and Home & Business plans cost $70.19/year and $93.59/year, respectively.

These two pricing plans are ideal for small and medium-sized businesses (SMBs) that want to submit personalised invoices, have access to customer service, and simplify their taxes and investments.

 

Frequently Asked Questions (FAQs) about Quicken

Are There App Integrations With Quicken?

Quicken has a few articles on how to integrate apps like Zillow (home evaluation tool), Dropbox, Google Drive, and OneDrive. However, they don’t have a dedicated page to showcase their marketplace or app integration partners. We recommend that you visit Quicken’s Learn and Support Page or contact their customer support for other questions related to a specific app you will be using. 

 

Is Quicken Available On Mobile Or Does It Have A Cloud-Based Version?

Quicken’s accessibility has been improved, allowing more of its current and new users to take advantage of the new cloud-saving features. Quicken is now available on mobile for freelancers and company owners who are always on the go. You can save your progress even when you are not connected to the internet, just like on the desktop version.

 

Which Quicken Alternatives Are Available?

The majority of Quicken’s investment and tax planning features are hidden behind a payment barrier that many freelancers and small businesses may find inconvenient. However, for those who can afford payment subscriptions, these issues may not be a detriment. We recommend looking into these Quicken alternatives from our Quicken review for your budgeting and estimating expenses.

 

GoodBudget

GoodBudget organises your finances by separating the money you want to invest into what they call ‘envelopes’. You can mark these envelopes for your groceries, heating, bills, and other expenses in your Goodbudget account. It has colour indicators (Green and Red) that tell you how much money is left in the envelope or whether you have exceeded your budget. You can either manually record your things in the envelope or use GoodBudget’s choices.

If you want to use this online budgeting app for your financial needs, you can get started for free with GoodBudget. However, it only provides 20 envelopes on a single account and has a one-year monitoring history.

 

YNAB (You Need A Budget)

YNAB is another low-cost option for tracking your income and expenses. Most YNAB users use it to concentrate on where the money should be placed rather than where it has gone. People who are struggling with budget control can rely on YNAB to help them achieve their goals. Their interface is more personalised, with short-term and long-term budgeting options for freelancers and those on a tight budget. It is based on a proactive relationship with the user and does not feel overbearing or demanding with updates on both mobile and desktop platforms. If you like YNAB, you can start using it for $11.99 a month with a money-back guarantee.

 

Pocketsmith

Most users will see an improvement in their money-tracking habits when they start using Pocketsmith. Scenario testing, forecasting, net worth, and income and spending reports are all included, as are versatile add-on functions for any additional expenses that you choose. In comparison to conventional personal finance management software, you can build a budget at any time, as opposed to being confined to a monthly budget. As a result, you will begin budgeting for your regular, weekly, and monthly expenses. It has a calendar view so you can see your future bills and expenditures.

However, the majority of the useful features are still locked behind the paid version. Unlimited accounts start at $14.16/month, charged annually and have a 30-year projection for your financial history.

 

Final Thoughts

Quicken is an old hand in the budgeting and financial reporting game, and it seems to be doing a great job at keeping up with its younger rivals in the last couple of years. It does pretty much everything you’d expect a financial management tool to do, including budgeting and investing. 

It is our top pick if you’re looking for a robust application with the ideal pricing schedule as it includes all of the premium features that a person with a financial problem looks for in any financial management application. However, since it is so robust, it may have a steep learning curve, so take all the details in this Quicken review into account when deciding.