Quicken is one of the most popular personal finance software options you can buy. But is it the best there is? Only a Quicken 2019 review can answer that question.
This software has been around for more than 30 years. And throughout the years, the manufacturers have made significant strides towards making it the most reliable and convenient finance management software. According to them, Quicken is what you need to take control of your finances.
Could they be right? Let's find out.
What Is Quicken 2019?
Quicken is the dinosaur of budgeting and financial accounting software. It was released back in 1983 for Apple II and MS-DOS, but it's currently available for Windows and Mac OS.
Since its release, the software has evolved in many ways and offers incredible solutions that anyone whose keen on budgeting and financial planning would appreciate.
Although some people find Quicken 2019 a bit challenging to use, it's more user-friendly and intuitive compared to the previous versions. It may be exactly what you need for detailed or basic budgeting.
Quicken 2019 New Features to Expect
One of the things that make Quicken stand out from the pack is the manufacturer's dedication to making their software the best there is. They update it with new features every year and 2019 was no different.
In 2018, they focused on expanding Mac users' options. If you'd like to take advantage of the latest features, you can upgrade or get the latest version.
Here are some of the new features you should expect in Quicken 2019.
The first thing you'll see when you launch Quicken 2019 is the Home tab.
A Home tab is one of the critical features of any software because it determines user experience. The presentation and how easy it is for you to navigate the home page will determine whether or not you end up liking the software.
So, does Quicken offer a love at first sight kind of experience?
Almost every Quicken 2019 review you'll come across attests to Quicken's good first impression. For starters, it gives you a summary of your current financial situation. This feature allows you to know your financial standing without doing a lot of computations.
The software also features quick-start options that make it possible to execute different tasks without requiring you to navigate the software to do it. What's more, the home page is customizable and has built-in wizards to walk you through the different processes.
If you feel overwhelmed by your finances, the Quicken financial planner may be exactly what you need. It provides you with options like budget, long-term planning, and tax planning among others.
While we believe Quicken's financial planner is a real life saver, we didn't like the budgeting tool. To use the budget tool, you'll first need to create your budget then make use of the "Budget Actions" to add different categories.
Once you've added the categories, you'll have to edit each of them individually if you need to change the amounts. It's a very tedious process.
Nonetheless, we are crazy about the long term budgeting feature that allows you to create a budget plan for every month at the start of the year. This feature is perfect if you prefer planning ahead.
We also love the Saving Goals tab which allows you to set short and mid-term saving goals and keep track of them. It's an excellent feature if you're planning to buy a new car or you want to go on vacation.
Debt Reduction Calculator
If you feel like your debts are out of control, the Quicken Debt Reduction Calculator can help you create a repayment plan and estimate how much interest you should expect to pay, depending on how fast you want to repay.
Quicken 2019 also features a Tax Center that allows you to input your tax information and get projections for expected tax returns and tax due. It's an excellent feature for individuals who run a small business or have side-gigs that may be taxable.
Lifetime Planner tool
As its name suggests, the Lifetime Planner tool gives you a comprehensive overview of your entire financial life. With this feature, you can get an idea of some of the things you need to do to improve your financial standing, which would be great in planning for the future.
Bills and income
Another incredible feature in Quicken 2019 is the bills and income feature. With this feature, you can either add your bills manually or sync them to your creditors. The software calculates the bills due each month and gives you a projection of what your balance should be after payment.
However, to get this projection, you also need to input your monthly income. It's an excellent feature because it not only reminds you of upcoming bills but also gives you a clear picture of your standing.
Are you guilty of impulse buying and you're looking for a way to get a handle on it? Quicken 2019 features a spending tracker that gives you a real picture of how much you're spending every single day.
The best thing about the Quicken spending tracker is that you can categorize your spending. That way, you get an idea of where most of your money goes and where you should probably cut back.
Quicken 2019 also has several add-on features that could improve your experience.
Among the add-ons we believe would be a great addition to your account is the bill paying service. With this add-on, you can pay your bills directly from the software. It's free for Premier users and costs $9.95 for the rest.
The Quicken Will Maker tool is also a great option especially if you have a simple will.
There are numerous alternatives for other add-ons like the Social Security Optimizer. For such add-ons, we believe it would be best to scour the market for alternative options and compare.
The other new features in Quicken 2019 we liked include the Tips and Tutorials, and mobile accounts with alerts.
Having the ability to have all your information in one place and receiving alerts when things change makes it even more convenient for you to keep your financial affairs in order.
With the tutorials and tips, you get to learn more about the software and get fantastic tips on financial planning that you probably didn't know. What else could you ask for?
Quicken 2019 Review: The Good and Bad
Now for the part you've been waiting for, the Quicken 2019 review.
At this point, you're probably already considering Quicken 2019 based on all the incredible features we just mentioned. But slow your roll.
In the following sections of this Quicken 2019 review, we'll give you an overview of what customers think about Quicken 2019 and compare it to other major brands to determine whether or not it's the right option for you.
Let's get straight to business:
Quicken pros and cons
You've got to expect a lot from a software that has been around for more than 30 years. A lot of people are in love with Quicken, and they believe it has revamped their financial planning methods.
However, this software has some quirks that some people aren't crazy about.
Quicken 2019 Review: Pricing
Almost every Quicken 2019 review out there complains about how expensive this software is. These complaints may be because, in 2018, the company announced that the software was only available on a subscription basis.
Before, users could use the software for three years without any subscription. With the changes, you can only use Quicken after subscribing and making an annual payment. Once the period is up, you can't access any of the online features.
For Quicken, the changes make a lot of sense since previously they had to maintain three versions of the software, which may not have been easy in terms of tech support and maintenance. With the new setup, they can ensure the entire user base is on the same version which is way more convenient.
So, does this mean every Quicken 2019 review that claims it's expensive is wrong? Not necessarily.
Currently, the Home and Business version costs $89.99, and Premier costs $67.49. Considering that the Quicken Bill Pay costs are now included in the total price, the software is way more affordable.
However, despite being a more affordable option, we don't think Quicken 2019 would be a good investment for individuals with simple finances since they can get all the essential features from free software. Nonetheless, Quicken would be a worthy investment for anyone with complicated finances.
Quicken has a straightforward sign-up process. All you have to do is to create an account on the software's official site and decide which version you prefer. Next, download the software to your device, even if you plan to use it online.
The desktop and online version are synced, so it's vital to have the latest version for the best performance.
Once you have the software, you can begin setting everything up.
Quicken 2019 Review: How Does It Compare to Other Major Brands?
Now that we've covered the Quicken 2019 review, you are probably wondering how it matches up to the competition. According to investorjunkie.com, Quicken 2019 deserves a rating of 8 out of 10 stars. Can the competition match up to this?
Let's find out:
We selected three of the top Quicken alternatives and compared their features to determine the best option.
Let's jump right in:
Mint is an excellent option if you think Quicken's multiple features are intimidating. Intuit, the same company that makes Quicken, also makes Mint. Therefore, you should expect most of the budgeting and saving features on Quicken on this software as well. However, they may not be as complicated.
What we love about Mint is that it's free of charge, it has an excellent user interface, and it's way less intimidating.
It's an excellent choice for individuals with simple finances.
Investorjunkie.com rated Mint 8.5 out of 10 stars.
Another great Quicken alternative is Personal Capital.
This software has a lot to offer. For starters, it gives you the option of linking all your accounts in one place for easier tracking. Besides, you can use the software to track your net worth and investments.
As if not enough, it features a spending tracker that gives you an idea of where your money is going. And the best part? It's absolutely free.
Any individual who wants to get a grip on their finances can benefit from Personal Capital.
Personal Capital has a rating of 9.5 out of 10 stars on investorjunkie.com.
You Need A Budget (YNAB)
The other Quicken alternative is You Need A Budget (YNAB).
YNAB is the ultimate budgeting tool. This software gets rid of the guesswork involved in budgeting by providing you with a live budget that allows you to save money. However, it may not be the best software if you're in search of automation capabilities.
This software connects to bank accounts, but you have to instruct it on when to download transactions.
The best thing about YNAB is that it's accessible through multiple devices and it can work even without an internet connection. How cool is that?
The manufacturer gives you the option of trying the software for free before committing to the $50 per year subscription.
Compared to Quicken, YNAB may not be the best option because its primary focus is only on budgeting and it doesn't include all the other incredible features you get on Quicken.
YNAB was rated 8.5 out of 10 stars on investorjunkie.com.
Master Your Money with Quicken 2019
One thing every Quicken 2019 review agrees on is the fact that it's a worthy investment for people with complicated finances. It allows you to keep track of your spending, save, manage your investments, and set and track financial goals among other things.
With Quicken, there is no doubt you'll get your finances in order. However, if you have simple finances, it would be best to go for alternatives like Mint. They'll give you what you need without leaving your pockets flat.
What do you think about Quicken? Is it a type of software you would invest in? Please share your views in the comments below.
Featured Image via Pixabay