Mint Vs Personal Capital Vs Quicken
Edward R. Forte
May 8, 2022
A quick Google search for “best budgeting methods” will net you over 32 million results—so where should you start?Financial management software is an effective way of quickly keeping an eye on your budget, spending, and investments.Personal Capital vs. Quicken, you should first know that the three platforms, while they have many overlapping features, are actually quite distinct and have the capacity to serve very different purposes.This Personal Capital vs. Mint vs. Quicken Review will help you understand the similarities and difference between these three financial management apps and decide which one(s) are for you.A dashboard which shows a snapshot of your financial situation; the included information varies based on the software being used and whether you’re looking on a computer or on a smartphone.Since Personal Capital and Mint are free and easy to access, they move to the top of our list.The Quicken personal budget app offers in depth financial analysis and comparisons with average spenders.If you’re willing to pay an annual fee, then Quicken is a solid Personal Capital alternative.Read this Personal Capital vs. Mint vs. Quicken Review with a focus on your specific money-monitoring needs.The software is essentially autonomous once you connect all your financial accounts, although occasionally (very rarely!).Personal Capital is also a free budget app that is easy to use if you’re looking for something simple, but with the many other features and calculators, this software might be most beneficial to someone with active investments.Personal Capital goes beyond simply calculating what percentage of your budget was spent on Starbucks this month, and gives detailed retirement predictions based on your investments, goals, and lifestyle changes.Whether you use Quicken or not, why not sign up for the FREE Personal Capital financial planning tools?Personal Capital also analyzes your investment fees and asset allocation and offers helpful suggestions for improvement.This option is for investors that have built up their net worth and can swing the $100,000 minimum investment required.Finally, those who have small businesses, want multiple printable reports, or access to a host of other financial products would benefit most from Quicken.See how to pay off loans faster & save by tracking principal & interest payments.Includes everything in Quicken premier plus many more small business and rental property management features.Create and email custom estimates & invoices with payment links, and save business & rental documents directly to Quicken.Importing your data into TurboTax is a breeze, so self-employed individuals don’t need to worry about paying an accountant to file your taxes.The printable report options in Quicken are a strong addition to those available in Personal Capital.These three financial management software programs have vastly different fee structures, but Mint is the easy one: it’s free!Personal Capital is also free for its basic features, making it comparable to Mint in that way.If you are looking to only manage your day-to-day budget or track your investments and retirement goals, the free version of Personal Capital will do the trick.For those who want to combine budget tracking with investing management, Personal Capital also has options.Their robo-advisor comprehensive financial management requires a minimum initial investment of $100,000, however, which makes it out of reach for many beginning investors.Quicken wins this category with Mint and Personal Capital tied for second place – but for different reasons.If you’re wondering “Is Quicken Worth It?” our answer is that if you want to dig deep into your financial and investment data, then yes.Their retirement calculator allows you to enter in lifetime milestones, like the birth of a child, large purchases, and vacations, and will analyze that information in addition to projected salary increases or time off from work.While users will need to purchase the Home & Business edition of Quicken, which is the most expensive option, the program is designed to make your financial life as a self-employed professional hassle free.Mint, Quicken, and Personal Capital all import data directly from your financial and investment institutions.The Personal Capital app is free and allows you to track your spending and investing, plan for retirement and much more.Each one offers budget tracking and utilizes clear dashboards and/or summaries that help you see exactly where your money is going., with comprehensive retirement planning software and an add on robo-advisor component for investors with at least $100,000 available as a minimum investment amount.They’re great for more detailed budget, investment and business tracking or for users who need additional financial services.Since the Personal Capital Financial Management tools are free, there’s really no reason not to sign up.If money is a concern, then the best free budgeting apps are Mint for beginners and Personal Capital for those with investments.Which one you pick depends on how much structure you need (ranging from Mint’s pie chart budget tracker to Quicken’s ability to import data to excel and spew out multiple reports), how much you’re willing to pay (Mint and Personal Capital’s basic programs are free), and what you really need out of a financial budgeting and money management app.If you have a significant investment portfolio check out this Personal Capital vs.
Quicken Review.The best way to decide which budgeting and money management app is best for you is to consider your needs and financial situation.Regardless of which financial app you choose, the ultimate consideration is keeping track of your finances, for now and the future.Personal Capital Advisors Corporation (“PCAC”) compensates Wealth Media, LLC. .
The Battle for Best Budget App: Quicken vs. Mint vs. Personal Capital
Today, budgeting is harder and with less time for mundane tasks, I rely on automated tools.When it comes to best free budgeting apps, I think Mint and Personal Capital are the clear leaders in the field.That edition provides features like their Portfolio X-Ray, showing performance vs. the market of your investments, and help with buy/sell decisions.They have a tool called the Capital Gains Estimator, that can help you optimize security sales to realize the greatest after-tax yield.They do track your portfolio value, as they do with other accounts, but they don’t provide specific tools to help you in your investing activities.The free version has a wealth of investment tools, including a Net Worth Calculator and a Cash Flow analyzer.Quicken performs admirably, especially given its tax reduction tools, but just hasn’t kept pace.All three services offer budgeting features and while there are similarities between each, there are plenty of differences worth noting.The app organizes your spending in categories, then projects income and expenses, helping you to create a budget.The app can link up with literally thousands of financial institutions, including banks, credit cards, various lenders and investment brokerages.It will also provide alerts to remind you of upcoming bill due dates to help you avoid missing deadlines.It will also enable you to set a monthly spending target and easily view where you are trending over or under your plan.Personal Capital performs admirably but their budgeting tool is relatively new and doesn’t have as many features as either Mint or Quicken.Retirement planning is an extension of investment activity, so once again, Quicken and Personal Capital come out on top here as well.They offer a Lifetime Planner feature, that incorporates expected retirement benefits and other income, as well as expectations for inflation, savings, investments, rate of return, current homes and assets and future homes and assets.It’s not fair to compare that to a software package you pay for just once, but both will help you in the retirement planning department.This means that you still have to be careful with the device Quicken is installed, like your laptop, but you won’t have to worry about a third party server or service being hacked and your information stolen.Personal Capital relies on Yodlee, as does much of the financial aggregation industry, and their security for maintaining your data.That’s why I switched from Mint to Personal Capital, after briefly “dating” SigFig for investment tracking, and I’ve never looked back.You can’t blame it though, it hasn’t gotten the same level of technical support as these newer, arguably “sexier” companies to invest in.
Personal Capital vs Mint vs Quicken vs Money dance vs Countabout
With personal bookkeeping software costing anything from zero dollars up to as much as 100 per year, it’s important to know your needs and limitations before you invest.A relatively small investment in the appropriate software can have a substantial positive impact on the health of your finances.At the other end of the scale, stock market investors will need higher spec software with tools that will allow them to track their full portfolio, comparing it with the current market and possibly even integrating with their financial firm.The major player at this end of the personal bookkeeping software spectrum is Quicken, one of the best-known and most frequently used money management tools on the market.With multiple features to help you manage your financial situation, it continues to remain a favorite tool for anything from basic budgeting to tracking savings and investments.It offers a full suite of functions to manager your real estate and rental property portfolio.Some argue that it is expensive but with its provided features you can save money by thinking smarter about your finances.Quicken appeals to both those who need guidance with personal budgeting and those with large investment portfolios to manage.Personal Capital creates summaries of your spending, net worth, and most importantly, your investment portfolio.What most people find to be the best asset in the software is the wealth management service that is provided with the paid version..Moneydance would be considered Quicken’s primary, if not somewhat lesser-known competitor, in the personal bookkeeping software game.It’s particularly useful in foreign exchange transactions and uses handy visual displays to represent the current state of your finances.Today, Moneydance can be purchased for a flat rate of $49.99 and runs on Windows, Mac, and Linux.Moneydance is an excellent platform if you regularly engage in foreign exchange transactions or deal in more than one currency.Advanced features allow you to track the stocks and bonds on the market and you can set the software to update the value of your portfolio daily.The primary function of Mint is budgeting, and it excels at this with features to alert you when bills are due, credit limits being reached and when you’re achieving your pre-determined goals.It pulls all personal financial information into one location providing an overview of current finances.Provides alerts to the user if too much is spent on ATM fees, budget is exceeded, if a bill is due soon, or suspicious account activity is detected.Mint offers a large part of services for free for users to track personal spending, banking, credit card and more.With Mint’s mobile app users can easily access their overview spending, account trends and cashflow, view alerts and updates, and characterize transactions.Starting at $9.99 per year, you get access to everything except the ability to connect with online financial institutions.In addition, no matter which level you choose, you have to pay another $10 per year if you want to add attachments to transactions, this is found to be unusual for any financial service.Simple invoicing tools (not commonly found on personal finance sites) cost $60 each year for either pricing tier.Whether you are interested in investment marketing, personal finances, or financial goal setting, finding the right piece of software can make all the difference to succeeding in your plans. .
Personal Capital vs. Quicken: Why I've Switched to Personal Capital
But due to the lack of new features and no customer service, as well as my getting tired of the constant updates and bugs — unfortunately, it's time for me to say good-bye to Quicken.In my testing, I've always enjoyed using Personal Capital, since it allows me to see my entire financial picture and investment portfolio at a glance.I also liked the idea of keeping my financial data locally on my desktop computer.The mobile access within Quicken is a neat feature but never worked exactly to my liking, so I primarily used the desktop version.Investor Junkie's visitor traffic is a good indicator of the personal finance software space.I study the trends, read user comments, and see which apps are gaining in popularity and which are losing market share.More importantly, I believe that user demographics and what people now expect when managing their personal finances are changing.Quicken released its latest version, which is available in four subscription levels: Starter, Deluxe, Premier and Home & Business.Now you must pay an annual fee or the online features of Quicken are no longer usable.Existing Quicken users will have to pay an “annual toll” to keep using the product; otherwise, your data is read-only.As I mention in my review of Mint.com and comparison of the two products, it's great for budgeting but lacks the feature I deem most important: investment tracking.Even as a free service, Personal Capital just seems to get it right when it comes to online reporting and using Yodlee as the back-end synchronization.To steal a quote from Steve Jobs, Personal Capital “just works.” Even though I'm a “techie” at heart, I despise dealing with technology problems.For example, I cannot upload my historical financial data, which also means I can't reconcile my bank statements, nor can I use a Bill Pay feature through their service.For these reasons, and for my needs, Quicken no longer fits the bill, and I've switched to using Personal Capital. .
Personal Capital vs Mint: My Ratings After Using Both for Years
Both Mint and Personal Capital are online tools designed to help us manage our money.The both enable users to connect their financial accounts for automatic download of transactions and balances.Personal Capital is a registered investment advisor in the business of managing investors’ portfolios.For our purposes, we will focus on the free financial tool that if offers, regardless of whether or not you use its investment management services.Once linked, Personal Capital provides a wealth of tools to monitor, manage and analyze your money.Aaron Patzer founded Mint more than a decade ago, and Intuit purchased it for $170 million in 2009.Mint was the first personal finance app to aggregate a user’s accounts all in one place.As with Personal Capital, users can link virtually all of their financial accounts to Mint.You’ll need to provide your username and password to create the connect, but both sites uses strong security features to keep user’s data protected.You’ll need to provide your username and password to create the connect, but both sites uses strong security features to keep user’s data protected.Personal Capital’s dashboard shows your net worth, budget, cash flow, investment portfolio balance, retirement savings and emergency fund.Mint’s dashboard shows your upcoming bills, any goals you’ve created, spending, your credit score, monthly budget and investments.: Both apps offer a financial dashboard where user’s can get a high level view of their investments.Personal Capital’s dashboard shows your net worth, budget, cash flow, investment portfolio balance, retirement savings and emergency fund.Mint’s dashboard shows your upcoming bills, any goals you’ve created, spending, your credit score, monthly budget and investments.Cost : Both apps are free, although as described below, the way they each make money is different and does affect the user experience.While this feature is similar with both services, I’ve found Personal Capital’s connection to more reliable.: Both Personal Capital and Mint enable you to connect your financial accounts to the app.While this feature is similar with both services, I’ve found Personal Capital’s connection to more reliable.First, it can show you details of your asset allocation, down to the specific stocks of fund you own.: While both apps offer tools to track your investments, Personal Capital is by far the better option.First, it can show you details of your asset allocation, down to the specific stocks of fund you own.Personal Capital will track your expenses, categorize them, and present spending data with useful graphs.Personal Capital will track your expenses, categorize them, and present spending data with useful graphs.Mint offers tools to determine how much extra, if any, you should pay toward your debt or savings goal.Mint offers tools to determine how much extra, if any, you should pay toward your debt or savings goal.It offers an excellent fee analyzer to evaluate your investing costs and their effect on your wealth over time.While it doesn’t offer some of the budgeting features Mint does, its cash flow tracking and automatic categorization of expenses have been more than sufficient for our purposes.And Mint’s budget tools, including its savings and debt payment goals, are more robust than what Personal Capital offers.Personal Capital can track Bitcoin, Ethereum and other crypto coins and tokens.Instead, with Personal Capital you create a manual account and add your Crypto and balances.Personal Capital makes money from those users who decide to use their wealth management services. .
Personal Capital vs. Mint: Which Financial Service is Better For You?
At a casual glance, they might seem the same; both are personal finance apps, allow you to sync your financial accounts in one location, and are free to use.Personal Capital also has a lot of similarities to Mint, but it focuses primarily on investing.Unlike Mint, Personal Capital can be used for planning for future financial goals such as retirement, saving toward college, buying a house, etc.Since Intuit sold Quicken in 2016, Mint has become the company's sole focus for personal finance management.Unlike Quicken, there's no local software to install, and you can access the service with any web browser or mobile device.— Mint gives recommendations on ways to save on the money you spend on your credit cards, investing, insurance, and loans.— Mint's free service can monitor changes to your overall credit score on a quarterly basis.— Via the optional paid service, Personal Capital can manage your money and give investment advice.Asset Allocation Target – Are you overweight or underweight in any of the major equity categories?It focuses primarily on Millennials, managing debt, and budgeting, and its investment section seems like an afterthought.It focuses primarily on Millennials, managing debt, and budgeting, and its investment section seems like an afterthought.Based on reliability, we recommend using Mint for billing alerts over Personal Capital.When Mint was created, it used the external service Yodlee to aggregate financial data.Intuit switched over to its own internal systems when the company purchased Mint — assumedly to save costs.Personal Capital, however, uses Yodlee to sync up financial services and has fewer reported synchronization issues.But every time I've contacted Personal Capital, I've gotten a quick response (less than 24 hours) to my questions.Many Mint users have reported that if you run into any problems (e.g., synchronization) support is pretty much useless.While it does show your portfolio values over time, there are no tools available to aid with retirement planning or analyzing asset allocation or fund expenses.Personal Capital, however, has a “poor man's version” that requires you to register your computer before using it.Personal Capital's and Mint's apps allows for fingerprint login on iOS devices that support it.Both of the personal finance software have apps for Apple iOS and Google Android.This fact makes Mint and Personal Capital ideal especially for Millennials who use their mobile phones as their primary — and in some cases only — devices.Mint.com doesn't offer a retirement planning overview, projected portfolio value, or any other investment-related features.However, Personal Capital isn't as good in budgeting and bill pay, while Mint excels in this functionality.Overall, Personal Capital is more reliable and has excellent customer service and retirement planning and investing features second to none. .
The 3 Best Alternatives to Quicken Software
Although manufactured for a number of global markets, Quicken remains focused largely on a North American customer base.Banktivity, developed specifically for Apple products, serves as a personal or small business financial management program, allowing users to monitor accounts across several devices.It is a free service and only offers basic features such as creating and tracking budgets and financial goals and monitoring one's credit score.The program is criticized for account synchronization problems and for the fact it does not allow monthly bank reconciliation because it automatically assumes all downloaded data is correct.A read-only service offers greater Internet security, since even if someone were able to access a user's information, all they could do is see the accounts and not able to take any actions (such as transferring money out).Personal Capital represents an attractive and less expensive alternative to Quicken for individuals who prefer a cloud-based program—and one that (unlike Mint) offers extensive investment management tools.Included are services such as budgeting, a retirement planner, a 401(k) fee analyzer, and an investment allocation target checker.This feature allows users to set spending and savings goals, track income events, and project the future value of their investment portfolios.Personal Capital has received good reviews on a number of levels, one being that it offers better account synchronization than most programs of this type.Debuting in 2004, iBank was designed by IGG Software specifically for Apple's operating systems—at first, macOS (for desk- and laptops), and later iOS (for iPhones and iPads). .
Personal Capital vs Quicken: Which is Better Product?
Quicken is the granddaddy of personal finance software, originating all the way back in 1983.It allowed people to gather all their finances in one place and quickly perform tasks that were usually done on paper.Personal Capital is better for the average investor looking to track their investments and finances in one place.Personal Capital is better for the average investor looking to track their investments and finances in one place.Personal Capital's tools are completely free, while Quicken charges a subscription fee.Special Features: View net worth over time, personalized investment advice, retirement planner, education planner for college costs, create savings goals.Special Features: Advanced budgeting software, save and store receipts, debt reduction tool (Deluxe plan), bill pay (Premier plan), accounting and property management (Home & Business plan), create tax reports, easy export into TurboTax.Personal Capital and Quicken allow you to link all your external accounts so you can view your financial life in one place.Track investments across all accounts, compare your returns to market indexes, analyze fees, suggest target allocations.However, note that Personal Capital offers all of these for free, while you have to pay a subscription fee for Quicken.For the average person, the free tools offer more than enough to effectively manage your finances.See all your accounts, create a budget, categorize expenses, manage bills, export to Excel.See all your accounts, create a budget, categorize expenses, manage bills, export to Excel Deluxe: $51.99/year.Added functions include: track loans, investments, and retirement accounts, create customized budget, manage and track debt, create savings goals.Added functions include: track loans, investments, and retirement accounts, create customized budget, manage and track debt, create savings goals Premier: $77.99/year.Added functions include: online bill pay, investment analysis, create Schedule D tax reports, track market value of your home, priority customer support.Added functions include: online bill pay, investment analysis, create Schedule D tax reports, track market value of your home, priority customer support Home & Business: $103.99/year (Windows only).Added functions include tools for small business and real estate managers (more on this later).But the more advanced features like debt reduction planning, tax reporting, business accounting, and real estate management could be very valuable for the right person.Personal Capital operates online only through a web platform and mobile app.Linking accounts is fast and automatically synced between the web and mobile app.Since all transactions are automatically recorded, you don't need to manually ensure your accounts are up to date on the platform.On the other hand, Quicken is a desktop software that you need to purchase and install on your computer.You'll need internet connection to import your accounts and manually initiate updates.You'll need to manually sync your Quicken data to the cloud to be able to access your info on-the-go.Quicken has comprehensive budgeting tools, while Personal Capital only offers limited functions.Quicken lets you project your account balance after your bills are paid.Enter your expected income and bill dates and it'll estimate how much you'll have left.The Debt Reduction Planner is a feature unique to Quicken (offered in the Deluxe plan).However, Personal Capital only has reminders for credit cards, loans, and mortgages.Quicken also allows you to set up bill reminders for gas, utilities, and telecom services.Read more about Personal Capital's investment tracking tools (with screenshots) in our detailed review.Quicken only offers investment tracking in the Premier and Home & Business plans.Enter "what if" scenarios (like buying a house, paying for a wedding, traveling), and see how these will impact your retirement.Both programs do a good job of showing you how big financial events would impact your retirement nest egg.Personal Capital doesn't offer any functions for real estate and small business management.Track property value, loans, rental income, and expenses.Save tenant lists, lease terms, rental rates, and security deposits.The fee for the Home & Business plan is a great deal to manage more complicated finances and simplify your taxes.If neither Quicken or Personal Capital seem like a good fit for you, here are some other popular alternatives.Mint (read review) is a completely free money management app.It allows you to create a custom budget and assign a monthly limit to each category.Other features include goal tracker, debt payoff planner, bill reminders, and credit monitoring.Instead of just tracking your spending, it actually teaches you how to budget and helps you save.EveryDollar (read review) is the budgeting app created by celebrity money expert Dave Ramsey.You do need to pay for the software, but it'll save you time and make managing your money easier. .