Track net worth (all assets, including liquid assets, real estate, cars, and other property).Some versions of Quicken allow you to manage specific financial situations, such as rental properties, medical expenses, small businesses, etc.Track investments, including basis price, asset allocation, etc.Learn why I ditched Quicken in lieu of alternative apps. I was previously a Quicken user, but have since migrated to Personal Capital. If you need a tool for tracking investments, net worth, assets, business income/expenses, rental properties, or other more advanced features, Quicken is a better option than YNAB. Quicken can also be used as a budgeting tool, but it is better equipped for tracking expenses, not “giving every dollar a job,” and making recommendations for your money.
#MINT VS YOU NEED A BUDGET PRO#
YNAB Pro is much easier to set up, use, and navigate. If you are simply looking for a budget or money management tool (as in cash flow and expenses), then I would recommend YNAB Pro over Quicken. Quicken and YNAB are very different tools, so it depends on your needs. YNAB Pro likes to keep is simple, which can get in the way of some of the more complex financial aspects. One of those is your 401k statements and other advanced investments. On the other hand, there are some things Quicken delivers which YNAB doesn’t. More than likely, other people have had the same questions, and the forum is a quick way to find the answer. They have excellent customer service if you have any problems, but you can also use some of their other channels if you need help. Because this is the cheapest option from Quicken, you won’t get all of the tools and advantages.Īnother unique advantage of YNAB is the additional support you can get. This is half the price of YNAB, but price isn’t everything. At $34.99 a year, it comes out to be just less than $3 a month. This lets you view all of your accounts and categorizes your expenses. The Starter package is their cheapest option. YNAB is going to cost you $6.99 every month, while Quicken is going to range anywhere from $34.99 a year to $89.99 a year, depending on which plan you choose (if you pay for 2-years, you get a slight discount). Cost is a major factor is deciding which tools you are going to use. But it is also a more complicated tool than YNAB Pro.Īnother important note is the cost for each of these tools. Quicken is designed to track income, expenses, net worth, taxes, investments, business transactions, rental property information, and even pay bills. Quicken is a more robust money management tool than YNAB. This has turned off many loyal users who are looking for viable alternatives to the Quicken app. Intuit later sold Quicken to a group of Private Equity investors, who took the brand solo, and turned it into an annual subscription model. The desktop version of Quicken continued, but it seemed like the focus was moving online. Quicken Online was quickly scuttled, as Intuit focused on the Mint brand. Until Intuit, the makers of Quicken, bought. Then, when launched, Quicken Online became a thing.
#MINT VS YOU NEED A BUDGET SOFTWARE#
You can compare apps for more information.įor many years, Quicken was a desktop only software program. If you don’t have specialized business or rental property needs, you should be fine with a copy of Quicken or Quicken Premier. Quicken has released many versions through the years, including Quicken Deluxe, Quicken Premier, Quicken Home & Business, and Quicken Rental Property Manager. There are several different versions of Quicken which offer a similar core capability, but may have a specialized additions. However, things have changed in recent years. Quicken is one of the longest running money management tools, and for many years, it was the gold standard. Quicken – the Gold Standard for Money Management Tools? The goal is to help you reach your financial goals more quickly and use a budget to your advantage. As you go through your monthly expenses, any funds that are left over will be assigned a job based on the priorities you assigned it when you set up your profile. YNAB is a zero based budgeting system, which means every dollar is given a job. After about 30 days or so, you should have a good idea of where your money is going and YNAB will make recommendations for where you can cut back on expenses and how you can better use your funds. The goal of YNAB is to track all of your income and your spending and “learn” your tendencies. YNAB Pro is designed as a budgeting tool, and it does this job very well. The key difference is that YNAB Pro is designed for making a budget and acting on it, and Quicken is designed primarily as a tracking tool. YNAB and Quicken are both powerful and useful financial management tools, but they have different advantages and disadvantages. I recently published a review on You Need a Budget, and a reader asked me how YNAB compares to Quicken.
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