Quicken Review: Personal Finance Software

Quicken is a personal finance management app that was first created and provided by Intuit, Inc. However, the company has been owned by Aquiline Capital Partners since 2021. Quicken works on both Windows and Macintosh systems, but there's a catch - the data isn't interchangeable between the two versions. So, if you switch between Windows and Mac, keep this in mind.

Comprehensive budgeting and tracking

In general, Quicken offers comprehensive budgeting, income tracking, and the ability to monitor expenses by categorizing and tagging transactions. Quicken stands out with its robust reporting capabilities, allowing you to generate a wide array of reports. Quicken is designed primarily for desktop use: though there is a "companion" app, it doesn't have all the features of the desktop version.

At-a-glance interface

On Quicken, your dashboard acts as a hub for accessing essential financial information. You can select from a variety of customizable "cards" to feature on the dashboard, with quick access to the specific details you're interested in. For instance, you have the option to display a card that compares your expenses to your income, or one that tracks your expenditures with various retailers or vendors. You can also include a card that highlights your top-performing investments or provides insights into the evolution of your net worth over time. The Quicken dashboard offers a user-friendly, personalized, and at-a-glance overview of your financial data.

Four tiers of features

Quicken has an impressive array of features in its modern interface, though the features change depending on which tier you choose. There are four tiers total, and you can expect to find the following features in every tier:

• You can view all your financial accounts in one place on a single dashboard.
• Your transactions are automatically downloaded and sorted into categories for you.
• Based on your income, expenses, and savings, a personalized budget is automatically generated for you.
• You can create and monitor your progress toward both short-term and long-term savings goals.
• Helpful timely insights and notifications are available to assist you in reaching your goals with confidence.

Great software to help with your taxes

One of the most popular benefits of Quicken is that it simplifies the process of tax-related tasks. The ability to categorize and label transactions enables you to generate reports for your tax returns. For instance, you can tag items like charitable contributions and unreimbursed work-related costs throughout the year, and when tax season arrives, you can access detailed reports to score maximum deductions. If you're seeking comprehensive tax assistance, you might find the Deluxe, Premier, or Home and Business packages more suited to your needs, as they offer specialized tax support.

Prices from $2.39 to $5.99

The four different tiers offered at Quicken provide a variety of features depending on how much money you want to spend. All plans can be used on the desktop or mobile app and come with phone and chat support. The tiers include the following:

• Simplifi: $2.39 per month
• View all your financial accounts on one dashboard
• Automatically download and categorize transactions
• A personalized budget based on your income, expenses, and savings
• Ability to monitor progress on short and long-term savings goals
• Timely insights and notifications for confident goal achievement
• Quicken Deluxe: $2.99 per month
• Includes all the Simplifi features plus:
• The ability to connect your banking, credit cards, loans, investments, and property
• Monitoring for monthly bills
• Expense tracking
• Help to grow your savings
• Customize a 12-month budget aligned with your objectives
• Future planning with calendars
• Personalized views and reports for a tailored financial overview
• Quicken Premier: $4.19 per month
• Includes all the Deluxe features plus:
• Ability to track and improve investment portfolio
• Optimization for tax benefits and tax preparation with included reports
• Ability to manage and pay your bills
• Priority access to customer support
• Quicken Home and Business: $5.99 per month
• Includes everything from Premier plus:
• Organizing tools for personal and business finances
• Access to built-in tax reports such as Schedule C and E, P&L, cash flow, and more
• Management tools for tenants, payments, expenses, lease terms, rates, and deposits
• Secure document storage related to your business and rental properties

30-day money-back guarantee

If you want to give Quicken a try, they offer a customer-friendly 30-day money-back guarantee. So, you can easily try out Quicken for one month, and enjoy the range of features, and then if it's not for you, you can cancel with no strings attached. Plus, you'll get your money back, so there are no worries about giving Quicken a shot.

Mixed reviews and low BBB scores

Unfortunately, Quicken's reputation with the Better Business Bureau isn't great. The company holds an "F" rating from the BBB. However, from reviewers, the scores are much better. Quicken has a 4-star average on Google Reviews and a 3.7-star rating out of 5 from third-party review sites. In general, customers who loved Quicken were business owners who wanted to take advantage of the tax-season benefits of this software. On the other hand, there were a host of reviews complaining that issues with the software were never addressed during updates, and the payment plan frustrated many customers who prefer to pay one-time for finance software.

Top option for taxes

Quicken has been around for a long time, and recent improvements have helped it keep pace with newer competitors. However, with low-scoring reviews and an "F" from the BBB, its reputation is a little more questionable than it should be. The company does offer a comprehensive range of financial management capabilities, covering budgeting and investment management, and most importantly: taxes. If you're not a business owner, or if you prefer a simpler, more streamlined approach to financial management with better reviews, you might want to keep shopping. But, given the helpful nature of this tool, it earns a solid rating despite its low BBB score.

Learn More  ➜

On the Quicken website