Looking for a streamlined budgeting app that will help you crush your savings goals and manage your spending? Consider the affordable personal finance management tools available through Quicken Simplifi.
What is Quicken Simplifi?
Quicken, best known for its tax software, also has a financial mobile app called Simplifi that helps you manage your personal finances. The app works on both the web and mobile devices and allows you to see all your financial data, monitor cash flow, and link bank accounts in one concise dashboard.
While there is no free version, a Simplifi account gives you access to an arsenal of budgeting tools, including customizable financial reports and a personalized monthly spending plan, all for an affordable monthly fee.
Quicken Simplifi features
Quicken Simplifi’s wealth of features make the app a good value if you’re a budgeting beginner trying to stick to spending limits or track monthly expenses. Once you import data like your bank account and billing information, the Simplifi app offers the following functions:
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Track net worth and monthly income
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Manage savings account and savings goals
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Customizable spending categories
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Spending and store refund tracker
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Bill tracking and transaction watchlists
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Real-time alerts and notifications
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Personalized spending plan
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Customizable financial reports
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Categorize and flag transactions
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Account sharing
Other unique features include the ability to link investment accounts and robust investment management tools. Whether you use zero-based budgeting or another budgeting approach, Quicken Simplifi works the same way. It calculates your monthly income, subtracts planned spending like bills and subscriptions, and generates a personalized spending plan that adjusts with your spending and provides positive reinforcement for staying on budget.
Quicken Simplifi pricing
Quicken Simplifi has a straightforward current price tag of $2 per month, billed annually. Unlike some other apps, there is no free version, but Quicken does offer a 30-day risk-free trial of the Simplifi web app for Microsoft Windows.
It’s also worth pointing out that Quicken Simplifi builds in extra value by supporting account sharing, so you can give access to your Quicken data to your partner, financial adviser or anyone else you’d like to manage money with.
Quicken Simplifi pros and cons
Not sure if Quicken Simplifi is the best app for you? Here’s a quick rundown of some pros and cons to see if it makes sense to invest in the full power of Quicken Simplifi to manage monthly expenses and finally achieve your savings goals.
Pros:
Cons:
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Limited credit score, credit card, and debt management tools
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Basic investments dashboard
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Annual subscription fee required
While Quicken Simplifi ranks high on many best budget apps lists, it lacks features geared toward debt management and retirement planning. If those financial needs are top of mind for you, consider Mint alternatives such as You Need A Budget (YNAB), Empower, and Rocket Money.
Simplifi by Quicken review: The bottom line
If you’ve been scrolling to see a definitive answer to your Quicken review questions, you’re in the right place. Quicken Simplifi is an affordable, user-friendly personal finance app that may be particularly useful for categorizing recurring bills, curbing recent spending, and developing a monthly plan to live your best financial life.
Frequently asked questions
1. Is Quicken Simplifi safe?
While no platform can promise absolute security, Quicken Simplifi app boasts 256-bit encryption to transfer data from bank servers and other financial institutions that would be difficult to compromise.
You also have the option to password-protect your Quicken data files. You can read more about what Quicken is doing to protect your financial information on their website.
2. Are Quicken Classic and Quicken Simplifi the same?
Quicken Simplifi and Quicken Classic have different applications: Simplifi is a mobile or web app while Quicken Classic is installed on your PC or Mac as desktop software.
There are also some significant differences in money management features and cost. Quicken Classic costs $5.99 per month but offers more robust financial services, including managing bill pay, advanced tools for retirement planning, investment management services, and tracking rental or business income.
3. Does Quicken Simplifi have a free version?
Quicken Simplifi doesn’t have a free version, but it has a 30-day money-back guarantee that essentially functions as a free trial. If the app doesn’t meet your financial needs, Quicken will issue a refund within 30 days of your purchase date in the Android Google Play or Apple App Store.
