According to a recent survey, 42 percent of Americans have less than $10,000 in savings. A staggering 14 percent of them don’t have any savings at all. If you fall into this category or simply want to better manage your finances, it’s time to do something about it.
No matter how much or how little you earn, personal money management is a must. You need to know how much you make and where your money is going so you can plan for a bright future.
It’s not uncommon to see young professionals who have good jobs and steady income but are drowning in debt — do you want to be one of them? Probably not.
Why not take advantage of technology to gain control over your money and catch up on retirement savings? All you need is a free personal financial software program. Here are three options to consider:
With Mint, users can easily manage their bank accounts, credit cards, earnings, and savings in one place. This program provides a complete view of your finances, including what’s coming in and what’s going out, what’s due, and what your credit score looks like.
Mint has been around for over 12 years. It makes it easier to set financial goals, track your income and expenses, and plan your budget. You can even track your investments and identify the best-performing ones in real time.
Consider using Mint along with Personal Capital or other robo-advisors to have more control over your investments. This way, you’ll have the information needed to make smarter decisions and mitigate risks.
This free budgeting software appeals to individuals and small businesses. It does require some accounting skills, but it’s flexible and easy to use.
With GnuCash, you can see your financial data in the form of pie charts and bar charts. Users can also track profits and losses, create and send invoices, and schedule recurring transactions.
The program is available in over 10 different languages and provides detailed reports that make budgeting a lot easier.
3. AceMoney Lite
This free program is marketed as the best alternative to Quicken and another premium personal finance software. With AceMoney Lite, users can create and manage budgets, track investments, and plan debt payments.
If you’re a self-employed or small business, look no further.
AceMoney Lite supports 150 different currencies and allows you to easily export your data for tax purposes or statistical analysis. It also features more than 100 predefined spending categories so you can see where your money is going.
Save Time and Money with Free Personal Finance Software
When it comes to the best free personal finance software, we recommend Mint. It’s the easiest to use and packs lots of cool features that make budgeting a breeze.
There are many other options available, but they either require a learning curve or have limited features. Depending on your preferences, you may also try Money Plus Sunset Deluxe, Buddi, or Buxfer.
Don’t wait until it’s too late. Get your finances in order today! Check out our guide on financial technology and its role in personal budgeting to learn more.