You may be questioning my decision to use Personal Capital instead of Intuit's Mint service. Much like … We want to be able to access our finances anywhere, anyplace and at anytime. Personal Capital's budgeting platform also enables users to you to easily build a household budget, create a monthly spending target, and check in on budgeting performance in a real-time fashion. That's a good deal, but if its free basic digital financial management services you're after, Personal Capital offers the ultimate bargain basement price. Personal Capital also has an edge in updating all financial account data on the company's digital dashboard, while Quicken doesn't update a user's financial data automatically, a user experience that seems dated given the remarkable leaps in financial technology in recent years. Here's a snapshot of five key variations between Quicken and Personal Capital: Quicken makes its bread and butter on drilling down into a money management problem, and that's evident in its retirement planning channel. The platform, which transitioned to a subscription-only model in 2018, charges between $34.99 and $99 a year for its Quicken for Windows personal financial management package, which gives you access to the company's bread-and-butter budgeting, bill payment and investment tracking services, among other features. Investor Junkie's visitor traffic is a good indicator of the personal finance software space. It's not the actual FICO credit score that creditors use to evaluate your credit risk, but it does give you a good snapshot of where your credit stands, and what you can do to improve your credit score. Helping make finance easy. Both the Quicken and Personal Capital dashboard’s show all account listings on the dashboard. Two personal finance heavyweights… Personal Capital vs. Quicken. He’s had a passion for investing since he was 20 years old and has owned multiple businesses for over 20 years. That gives users a real-world view of what could happen on the path to retirement, and allows the user to have an interactive experience - much more so than Personal Capital. Besides, most banks now offer free online bill pay, which does dilute the value of paying for Quicken's bill payment service, which is included in the company's tiered subscription price. Unlike Personal Capital, Quicken is a pure budgeting software platform. Here are the reasons why I ditched Quicken and switched to Personal Capital. Investor Junkie strives to keep its information accurate and up to date. I also liked the idea of keeping my financial data locally on my desktop computer. 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. This tool is so important to me, in fact, that I'm currently refusing to update my system software to the latest version (Mac OS Mojave) because I'm afraid it'll break Quicken… Quicken:Quicken helps you plan for retirement by helping you to set up your retirement goals. A dashboard which s… One has been around for decades and might even be older than you, and the other is a new favorite in the personal finance … Retirement planning is an extension of investment activity, so once again, Quicken and Personal Capital come out on top here as well. I know behind-the-scenes Personal Capital uses Yodlee. We know that managing finances is not easy. This is a big difference when comparing Personal Capital vs. Quicken, as Personal Capital … In some cases, Yodlee screenscrapes an account in order to download the transactions — hence the wider support of accounts by Personal Capital. Investor Junkie strives to keep its information accurate and up to date. Personal Capital – Dashboard Home Screen Winner: Personal Capital is stronger on the investment related information and their investment and money management … Personal Capital vs Mint vs Quicken: Best Budgeting App for 2020 . 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. Quicken has been around for a long time. Personal Capital pulled ahead in the evaluation of Mint, but what about Personal Capital vs. Quicken? How to Sign up: Quicken vs. Mint does allow you to link your investment accounts, but the functions just aren’t as robust as what Personal Capital offers. © 2020 TheStreet, Inc. All rights reserved. Back in the ’90s, I helped create some of the first financial websites for firms like Chase, T. Rowe Price, and ING Bank, and later went on to work for Nomura Securities. Investor Junkie is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. … Quicken is a desktop platform that holds your data locally. I’ve been testing different services for years now alongside Quicken. Larry Ludwig was the founder and editor in chief of Investor Junkie. Now, with the 2019 release, Quicken has taken some steps in the right direction. Personal Capital Despite existing (and thriving) under the personal financial management digital umbrella, Quicken and Personal Capital vary in important ways - and platform … Investor Junkie does attempt to take a reasonable and good faith approach to maintaining objectivity towards providing referrals that are in the best interest of readers. Quicken is a legacy application that has added some mobile and web functionality, but in reality, it's still primarily a desktop application. He asked me why I use a desktop application such as Microsoft Money or Quicken … This enables you to switch over to retirement planning without having to add additional information. Quicken’s aren’t. However, this new platform is intended to be a companion to the desktop software, rather than a replacement. It's not that Quicken costs a bundle - it doesn't. The platform syncs with a user's bank, investment and credit card accounts, listing all assets, liabilities, outstanding debt owed by category, and account transaction histories. We may, however, receive compensation from the issuers of some products mentioned in this article. Enter Personal Capital. Both are free services. Which one works better for you? As regular readers know, I'm an old fogey. For more information, please read our, Personal Capital vs. Quicken: Here’s Why I Chose Personal Capital. However, in the past few years, my needs have changed, and I now want the ability to access my personal finances on the go. Take a test drive and see which platform meets your unique personal financial money management needs. Unless Quicken is completely rewritten, it will never be like its sister service, Mint.com. Sign up today and find out how to qualify for a free portfolio review. The information on Investor Junkie could be different from what you find when visiting a third-party website. Both provide budgeting capabilities, as well as various tools to help you … Here's what I'm using instead. Quicken vs. The software offers bill paying services on its software and its mobile app, and offers digital-age solutions like bill payment alerts and customized financial reporting. 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. Two of the leading companies in the sector - Quicken and Personal Capital - are used more than most digital financial management packages, and for good reason - they both get the job done, and at a reasonable price (in one case, no cost.). posted on March 2, 2015 39 Comments. If you're looking for robust accounting software that's desktop-based, it's long been considered the gold standard. In a nutshell, Personal Capital, Quicken and Mint all have their own uniqueness and functionality despite the obvious similarities. Investor Junkie does attempt to take a reasonable and good faith approach to maintain objectivity towards providing referrals that are in the best interest of readers. And Moneydance is a desktop platform that uses cloud sync for its mobile app. Personal Capital draws high marks from users for its asset and investment management tools to help users keep their retirement savings on track, plan big investment savings campaigns (like college and early retirement) and allows you to see how your investment portfolio is performing dynamically, and in real time. Banktivity. It uses planning assumptions from other investment goals, like planning for college, or investing for special purposes. 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