Do you want to manage your money better? Quicken is a great way to get started!
It’s easy-to-use and helps you keep track of all your spending in one place, so you can see where your money goes.
Maybe you have tried budgeting the old-fashioned way and want to try something else. A personal finance software or app like Quicken may be the answer!
By using Quicken, you’ll have a clear picture of how much money is coming in, upcoming bills and due dates, and how much is left over for fun and savings. It’s never been easier to take charge of your finances!
In this Quicken review, we will look at the benefits of using Quicken and talk about the new features that can make a difference in your budget.
What Is Quicken?
Quicken has been around since 1983. It was first introduced as a DOS program by Intuit Inc, but in 2016 Quicken was sold to H.I.G. Capital.
It is a personal finance management tool that helps you keep track of your spending and saving.
It’s easy to use, so it’s perfect for beginners or anyone who wants to take control of their money.
You connect your membership with your bank accounts, credit cards, investments, loans, and other financial institutions, so everything is automatically updated.
That way, you always know where every dollar goes and how much money you have leftover at the end of the month.
The software has come a long way since it first hit the market, and there are now different versions to suit everyone’s needs. There is a Quicken for Mac and Windows users, plus there’s a Quicken app for Android devices.
Who Benefits From Quicken?
Quicken has become a popular software with several different types of Quicken users:
People who want things simpler
Quicken is helpful for people who want their budget to be simple to understand and can check it on the go. Some other companies will have you pay for features you don’t need
Simplifi By Quicken is the newest program designed specifically for people who are new to budgeting, who want advice on how to save and make the most out of their money.
It also has automated sorting- so when you buy things, it gets placed in a category right away so you know how you’re doing. You’re out buying some groceries?
Simpifi will know, and you’ll both know right away if you’ve got to spend less on groceries! It’s so helpful to get alerts for overspending and unusual spending, Simplifi and Quicken make it easy and do all the leg work!
People who like details
Quicken is a great accounting solution for people who want to track their spending and understand where their money goes each month.
People can create budgets and see how well they’re doing each month and do a better job managing their money.
Quicken is also popular with investors. Not only can people track their investment portfolio and see how investments are doing, but they can also create detailed budgets for each investment.
Now we’ve been budgeting for a very long time, but we know some of you are new to the game! Budgeting doesn’t have to be overwhelming, but it can be difficult knowing where to start exactly.
Not every Quicken program is made for big businesses with billions to keep track of. You can find the perfect option for you with Quicken to budget your money without being bogged down by the financial minutia.
Simplifi by Quicken is made for those who want a simpler want to budget that doesn’t bewilder you with financial jargon or have you pay for a bunch of features you won’t use!
This option is perfect for college students just starting out who need help saving money or college graduates who want a good plan for paying back their student loans.
Quicken is a great way to keep track of business expenses.
It can create different spending categories for business expenses to track how much is being spent on things like office supplies and any other expenses that are relevant to doing business.
People who want accessible finances
Have you noticed how some budget programs aren’t exactly cell phone friendly? It can be frustrating not having access to your budget when you’re on the go.
How do you stay within your budget if you can’t check it while you shop?
Well, Quicken created Simplifi specifically for us techy folks who want a mobile app budget that is quick and practical- and of course usable at all times!
People who don’t trust the cloud
Quicken is popular with people who prefer not to connect their financial institutions and personal information with the cloud.
They don’t want to use mobile apps and like keeping everything on their computer to be accessed very easily and don’t mind entering their transactions manually.
Quicken Pricing & Programs
Quicken has four packages that offer different features, ranging in price from $35.99 to $103.99.
Quicken is available at electronic stores, online on their website, or through Amazon. If you choose to subscribe to Quicken Online Service, there are automatic updates on all versions of Quicken for one year for free.
There is a 30-day money-back guarantee, but all data will be deleted from Quicken if you choose to cancel your subscription.
Each package comes with the Desktop version and Quicken mobile app. You can also create a simple one-month budget with each package, sync your bank accounts (if you want), and pay bills online with the bank bill pay feature.
The packages Quicken offers are Simplifi By Quicken, Quicken Starter, Quicken Deluxe, Quicken Premier, and Quicken Home & Business. Let’s take a look at each package!
Simplifi By Quicken
Simplifi by Quicken is geared for the younger generation looking to create custom savings goals and be financially savvy on the go.
It’s somewhat like a step in between the Starter and Deluxe package. It was made to be the most mobile-friendly option of the Quicken packages, as the others work the best on desktops.
It’s made for people who are new to budgets, who don’t need excessive features to manage their money.
Its most notable features are the custom monthly spending plans, their updated pies and graphs (great visuals!), easy-to-navigate financial reports, and it has some investment account tracking options for your portfolio, unlike Starter and Deluxe.
It’s simpler than the experienced investor features you get with other Quicken plans.
Quicken Starter is the lowest cost and most basic package Quicken offers and is suitable for individuals new to personal finance programs.
It includes the basics for budgeting month to month but doesn’t incorporate investment tracking.
The Starter package allows users to track unlimited accounts, provides easy-to-use charts, report views, graphs, and reports. Setting up your basic budget at the beginning of the month/year is easy.
With Quicken, you can keep track of your spending and saving to make sure you stay within your budget.
Quicken Deluxe is the following package suitable for those who want to be more organized with their personal finances and want more customizability with their budgeting.
Plus you can include yearly goals and expand on your annual overall budget, not just month to month.
The Deluxe package includes all of the Starter package features, plus you can create custom reports and pay your bills online. It also has a feature that you can use to track loans, investments, and retirement accounts.
Quicken Premier is the following package and offers even more features that appeal to those looking for a little bit extra in their finance software and wants their investments included in their tracking software.
The Premier package includes every feature of all three packages, plus Bill Pay, the ability to track the value of your home, additional retirement, and other tools.
Quicken Premium support and Calendar/Fiscal Year budgeting are also included in this package.
Quicken Home & Business
Quicken Home & Business is the most comprehensive package Quicken offers and is suitable for small business owners or self-employed individuals with many transactions to manage.
The Home & Business package is available to Windows users only and only comes in a desktop app version.
It includes every feature of the three other packages, plus you can create invoices and track your income and expenses related to your business.
The dashboard is easy to navigate and has personal and business financial data features.
On one side of the dashboard are graphs and charts for your personal finances. On the other side is a list of your business and personal account balances, including your investment accounts, bank accounts, and investments.
Some additional features are:
- Rental property management where you can view your rental properties information, your rent receipts, your rental property tenants, and much more
- Personal property management where you can add the assets you own and their estimated property value
- Tenant management where you can record rental payments, track tenant information, and more
- Vehicle management where you can add your car’s information, including the make, model, year, and mileage
- Tools for checking the security prices every 15 minutes and the “What ifs” of buying and selling
The 2021 features for Quicken are mostly the same as the 2020 features. However, a few updates may be of interest to users.
One of the changes that Quicken made was to change the spending dashboard to see all your spending and expenses in one place.
You can now see your spending by category, merchant, or date and even break it down by household members. Doing this will help you quickly and easily identify where you are overspending in your budget.
Another feature of Quicken is that you can check your transactions to make sure they are legitimate transactions, giving you an extra layer of protection to your finances.
Financial Planning- Money Tracking
Financial planning with Quicken 2021 is made a little easier with the ability to create budgets, long-term financial plans, and tax planning.
You can also use the Debt Reduction calculator to help you reach your financial goals.
The budgeting tool in Quicken is one of the most popular features that allows you to track your spending and savings to make sure you stay within your budget.
You can set it up to automatically create a budget for you based on your income and expenses.
Another popular feature is the Savings Goals feature. You can set it up to automatically save money for a specific goal, like a vacation or a new car.
The Savings Goals feature helps you make sure you reach your short and long-term goals by setting a deadline and showing you how much money you need to save on a monthly or yearly basis.
Quicken also offers a Tax Center. The Tax Center includes the option to all the information you need to file your taxes, including how to report income and expenses, what deductions you can claim, and more.
Bill Management (Bill Pay)
In August 2020, Quicken moved from a Bill Pay platform to a new platform called Quicken Bill Manager.
The new platform has the latest features and is available to Premium package users and higher. Starter and Deluxe users can add it to their packages for $9.95 a month.
The Quicken Bill Management feature allows you to do everything from one place in the Bills dashboard.
You can track your bills, pay your bills, stay up-to-date with your balances and upcoming accounts, plus even download a copy of your invoice.
Online payments can be made through a Quicken service, either online or by mail to anyone in the United States.
The Quicken 2021 Investment Tracker is a valuable tool for anyone who wants to keep track of their investments to make better financial decisions in the future. It offers a variety of features that can help you do just that.
The Investment Tracker in Quicken 2021 has been updated to be more user-friendly and informative. Instead of multiple tabs, your investment portfolio can now be seen in a single place.
With the single view, you can now track your portfolio and get a better understanding of your 401(k)s, mutual funds, ETFs, stocks, bonds, and more.
One of the features is a Morningstar X-Ray tool which is available to the Premium and Home and Business package users. It is also available on Windows only.
The X-Ray tool gives you valuable information about your current investments and historical data to help you make better long-term planning and financial decisions by knowing what’s been working and not working for you with certain investments.
Another popular feature of the Investment Tracker is the “What if?” tool. The “What if?” tool allows you to see how your investments would have performed under different scenarios, like a market crash or a rise in the stock market.
The retirement tool in Quicken allows you to get a summary of your retirement accounts.
You can see exactly how much money is available to you at certain times throughout the year and what your monthly income would be if you started drawing from this account today.
The 401(k) retirement tool is helpful to project how long your current savings will last in retirement.
It doesn’t take the place of independent financial advice but it is valuable for those who are nearing retirement and want to know what their options are.
Quicken For Mac
Now we all know that some programs don’t translate well to Mac products, and vice versa for IOS systems.
However, Quicken for Mac is their way of making sure Mac users get all the same benefits and less of the glitches!
Before the updates, Quicken was slower on Apple devices- graphs were slow to load, account linking would take more time, etc.
But they revamped things to be twice as fast, with better graph designs and better Portfolio views.
Some users still think the PC version runs smoother than Quicken for Mac, but I don’t feel like it’s all that lacking when we use it.
I do use it mainly from our computer rather than the mobile app, and mobile is for quick peeks at our account, so there could be some lagging on the go that I don’t see very often.
One of the best features of Quicken is that it can be synchronized with all your accounts including investment accounts and credit cards. Hooking up your financial institution or other accounts gives you the most benefits with Quicken’s features.
This means that all of your financial information is in one place, and you don’t have to worry about tracking multiple websites or software.
The synchronization process is simple and can be done in a few minutes. You enter your information on the Quicken website, and it will connect your accounts and download all of your transactions.
Then you choose which accounts and categories you want to be synced with Quicken and click “Update Accounts.”
Some people choose not to synchronize their accounts due to security concerns. Quicken gives assurance about the robust 256-bit encryption security of Quicken data transmitted.
The Quicken interface is one of the most popular features of the software.
The interface is very minimalistic but has a straightforward layout that is easy to navigate. Different functions are available on the home page, but they are all tucked away neatly in one place.
If you have never used Quicken before, then there is a Resources page on their website where you can watch tutorials and get more information about various features of Quicken like One Step Update or the Investment Tracker.
Signing Up With Quicken
You can access Quicken immediately upon signing up and get all your budgets lined up quickly and efficiently.
Then download the software, and you are ready to go and get your finances under wraps!
Not everyone likes Quicken, so you can try the 30-day trial first, but you can also check out other options to track your money.
Pros & Cons
There are many benefits of using Quicken, which is why it has been such a popular personal finance software for over 25 years.
Here are some of the key pros and cons of the Quicken software.
- Different versions to suit your needs – There is a Quicken for everyone, no matter your needs, and it’s usable on multiple computers, Windows devices as well as Mac products.
- It’s secure – Quicken uses bank-level security, so your information is always safe.
- A clear picture of your finances – With Quicken, you can see all your spending and save in one place. This gives you a clear picture of how much money is coming in, what bills are due, what your net worth is, and how much you can afford to spend on fun things.
- It helps you stay organized – Quicken helps keep you organized and on top of your finances, which is especially helpful if you have to keep track of multiple bills to pay or investments.
- Budgets and bill reminders – Quicken makes it easy for you to set up a financial plan by creating a budget so you can start saving more money. And you can also set up bill pay reminders to never miss a payment again.
- Excellent customer support team – The support team is available online and by phone. Live chat representatives are available during regular business hours, and you can email inquiries 24/7. Phone support hours vary depending on the day of the week but are typically open from 8 am to midnight EST. There is also an active online community plus a Resources page for users.
- Small business version – It helps people who have small businesses keep track of their expenses and income related to their business.
- Investment tools – This tool can help you make smart decisions about where to put your money.
- Ability to connect to your bank and download transactions directly into the program – This helps keep track of your balance and prevents you from over-drafting your account.
- The program can be expensive – The full version of the software can be more than $100 for businesses, and updates and add-ons can cost extra. There are free programs and Quicken alternatives like Mint, with fewer bells and whistles, but the cost is zilch!
- Quicken can be complicated – Some people can be overwhelmed by everything Quicken offers, and it can take some time to get used to the program.
- There is an annual subscription fee – To keep using Quicken, you have to pay a yearly subscription fee. The price depends on the version of Quicken you have and the current price at the time of renewal.
- Quicken’s Mac version lacks some features compared to the Windows version – Some of the features that you can get in the Windows version aren’t available on the Mac version, making it less useful for some people.
- It may not sync with your bank – Quicken may have trouble syncing with some banks, which can be frustrating.
Quicken Alternatives: Other Money Management Tools
Not sure Quicken is the personal finance app for you? Well, Quicken is great but it isn’t the only option to track your finances and better manage your money.
Mint is a free program that offers many of the same features as Quicken but is less complex, making it suitable for those who want a simple program to help them with their finances.
Mint also has an excellent mobile app that enables you to keep track of your investments on the go.
YUou can hook up your bank account, savings, and even credit cards, and get a clear picture of where your money is going and how much money you have at any given time.
If you want a more detailed comparison, read our Mint Vs. Quicken rundown to get a better idea of which is better for you.
Personal Capital is another option if you are looking for a more user-friendly alternative to Quicken.
They have a free version and a paid version with other features, but they really shine as an investment tracker!
We love Personal Capital because we can track our income and spending, but we can also keep a close eye on our investments and make sure we’re on track for our retirement plan.
It is similar to Mint in some ways, but investors particularly like Personal Capital because it offers comprehensive investment tools that are easy to use.
Check out our in-depth Personal Capital Review to find out how well the app can manage your finances and investments!
Quicken Review Takeaways
If you’re looking for personal finance software that can help you track your spending, save money, and manage your investments, Quicken is a great option.
Overall, Quicken is a great program for personal finance that can help you keep track of your budget, bills, and investments. I
t has various features that cater to different needs, plus can be used on both computers, Android phones, and iOS mobile devices.
As we mentioned earlier, it is one of the most popular personal finance programs available and it has a lot of features to offer.
However, it can be expensive and complicated to use, so be sure to consider all of the pros and cons before deciding if it’s right for you.