The Best Money Management Software for Investing
- Quicken's Premier edition of its flagship money management program comes with a rave review from the Kiplinger financial magazine, which calls it the best option on the market. The magazine specifically liked Quicken's "robust investment section." Not only does it let you review how well your stocks are doing, but it also helps with rebalancing your asset allocation, tracking your performance against model portfolios and even generating historical reports. Plus, it deals with day-to-day money management issues, such as paying your mortgage bills.
- The CommonCents software comes with a five out of five stars rating from the editors of Cnet.com. In summarizing the software, the editors praised its "combination of comprehensive coverage, flexibility, and ease of use." It can help you manage and track asset accounts including stock portfolios and your 401(k). On the personal finance management side, it offers in-depth spending analytics and budget creation based on the traditional envelope budgeting system.
- Taxes are a big part of both your personal money management as well as the management of your investments. And when it comes to both realms of your portfolio, TurboTax's software is the best, according to PC magazine. The magazine gave the program an editors' choice award, specifically noting its investment-centric features. In managing your taxes, it can help you automatically calculate all kinds of tax-related expenses and fees in relation to your mutual funds, bonds and stocks. This can be helpful if you're regularly trading because "complex" barely describes the federal tax laws regarding the reporting of gains and losses.
- Mint.com, from personal finance software giant Intuit, comes praised by Kiplinger as the best iPhone-specific money program. It also works on Android devices. Mint aggregates data from all major financial institutions so you can get a bird's-eye view of your finances. That includes all major forms of investments, including Roth IRAs, 401(k)s and stock portfolios. This ties into your personal finance management, letting you track your spending and expenses, as well as generate personalized budgets. Now, you can keep tabs on your accounts while on the go.