For those 20-somethings who are looking for a good way to manage their finances, there are a variety of products and applications available. Not all of them offer the same things, just like none of them are appropriate for everyone. However, the right program is easy to find with just a bit of research. We have written this brief article comparing different financial management options in order to make it easier to decide which option best suits your needs.
Mint Vs Quicken-Which is Better?
Since both of these are Intuit products, it would be difficult to say which one is better. They are both designed to help 20-something better manage their finances, and both of them offer some of the same capabilities. However, there are benefits to both of them.
- While Quicken is a software program than is downloaded to your computer, while Mint is an online application that can be accessed anywhere there is an internet connection.
- Both Mint and Quicken can access all of your account information when you provide your login and passwords. With Mint, this information is automatically imported, while with Quicken, the program has to be “told” to retrieve the data.
- Mint does not have scanning or document storage capability. With Quicken, you can scan a receipt or other document and have it stored securely in case you need it at some point.
- Quicken has limited capabilities when used with a Mac operating system, as it was designed for Windows. Mint can be used on any mobile device regardless of whether it is an Android or Apple operating system.
- Quicken allows you to print checks and make payments, which Mint does not support.
- Mint is a free application, while Quicken is software that has to be purchased.
Although there are many differences between the two, both Mint and Quicken by Intuit provide a valuable service if you are one of those 20-somethings looking for a way to manage your finances.
What About Personal Capital?
Although Personal Capital is a program similar to Quicken and Mint, it is designed more specifically with those wealthier 20-somethings in mind. In addition to managing your monthly expenses, Personal Capital allows you to track your investments and receive advice about what diversifications you might consider. Personal Capital has a convenient dashboard that allows you to manage all of your finances in one place, but also offers you Apple and Android operating platforms for mobile money management.
How Do I Decide Which Money Management Program is Better?
The best way to decide which of these three programs is best for your specific needs is to try them out. Although Mint is completely free, Quicken has a 60-day money back guarantee so that if you purchase the software and decide it is not right for you, you can have the purchase price refunded. Personal Capital offers both a free option or a paid option; since they offer different services, it is best to research both of them before making a decision.
Regardless which money-management tool you use, the sooner you can learn to manage your finances and look toward your future, the better off you will be.
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