Managing your money tactfully includes keeping an open eye on your expenses. You can take advantage of personal finance software to do so.
Using free personal finance software in the UK can be surprisingly robust, helping you create and manage your budget, track your spending, and run a report.
Whether your laptop runs on Microsoft Windows or Mac OS or you want to run the personal finance software on your phone, you will find free personal finance software for tracking your finances and budget for the future.
In this article, we are going to cover the 5 best free personal finance software for the UK; the list is highly researched and reliable.
What is personal finance software?
Personal finance software is an application that helps you in all aspects to manage your personal finances. Personal finance software can be used to track your spending, create a budget, and plan for future expenditures.
You can choose different software from different objectives. Some of them are ideal for budgeting, some are right for debt tracking, others are good for investing and some are good for savings goals.
Are these apps safe?
A massive amount of personal finance apps use bank-grade security, so it is the same as you expect from a main current account provider.
They only have read-only access, which means you can’t make transactions using these apps. Moreover, if a hacker somehow gets access to your finance app, they can’t harm you too much to your finance.
List of 5 best free personal finance software in the UK
1. Mint:
Mint is a free online budget planner from Intuit, the makers of QuickBooks, and TurboTax.
These apps bring all of your financial data together and show you an overview of your budget, spending bills, and credit score. Mint will show you your financial situation in a broader sense.
You can create your budget, set goals, and synchronize data between the web and apps. Security is also enabled by encryption and multi-factor authentication. Mint is also useful in tracking your investments and portfolios.
Key Features
- Budgeting Made Easy: Plan and track your budget with visual aids.
- Bank-Level Security: Rest easy with state-of-the-art security measures.
- Real-Time Updates: Stay up-to-date with live transaction feeds.
User Experience
Users rave about Money Dashboard’s user-friendly interface, making financial management accessible to all.
Costs: Free
2. Personal Capital:
Personal capital for free financial software for tracking your investments and planning for the future.
Further, it is a tool for cash flow, budgeting, funding, and net worth. Personal Capital’s focus is on investments, showing you the performance of your portfolio, and helping you to make the right decision for securing your future.
So, the budgeting components of this software are not as robust as other personal finance software.
You can access Personal Capital through the web or apps for Androids and iOS.
What Sets it Apart
Yolt distinguishes itself by offering a holistic approach, integrating various financial accounts into one platform. It’s not just a budgeting tool but a financial ecosystem.
User-Friendly Interface
Navigating Personal Capital is a breeze, even for beginners. The platform’s simplicity enhances the overall user experience.
Costs: Free
3. Buddi:
Buddi helps you manage your financial tasks such as budgeting, tracking finance, creating personal finance reports, and some other required features.
You enter your transactions manually and then let Buddi keep all the records safe and secure and record monthly reports.
Buddi is available on Mac, Windows, and Linux, so you can use this free online budget tracker on various devices. Buddi also keeps your finance data encrypted and is perfect for small finance tasks that you need to perform daily.
Cutting-edge Features
Buddi revolutionizes personal finance with its cutting-edge features. From tracking subscriptions to predicting upcoming bills, Emma keeps you in control.
Security Measures
Buddi prioritizes user security, employing robust encryption to safeguard sensitive financial information.
Costs: free
4. AceMoney Lite:
AceMoney Lite is a free personal finance software that focuses on tracking your finances and allows you to have two financial accounts that can be accomplished with a single one.
It allows you to handle all your transactions, manage them, edit them, and also create reports.
You can download these data whenever you require and can produce a monthly report based on these data. It allows you to manage your accounts, your banks, and payees.
It also lets you schedule your payees. Moreover, you can download and access this software for free of cost.
Budgeting Made Simple
AceMoney Lite excels in simplifying budgeting. It categorizes expenses, tracks recurring bills, and provides insights to help you save more.
Goal Tracking
Set financial goals, and let AceMoney Lite guide you towards achieving them with personalized insights and savings tips.
Cost: Free
5. GnuCash:
Gnucash is perfect for individuals, small businesses, and homes to keep track of their accounts.
It is available on Linux, Windows, and Mac, along with an Android phone. It enables you to add accounts, schedule your regular payments, and add assets.
If you are using other financial software then you can import the data from them to GnuCash in dOFx and QIF format. But, it is not as simple as you are familiar with other software.
But once you become familiar with GnuCash, it will make your financial life simpler. It helps you with regular reporting, data analysis, and financial advisory to make better financial decisions.
Ideal for Small Businesses
GnuCash goes beyond personal finance, catering to small businesses. It’s an open-source accounting tool, offering features usually found in premium software.
Advanced Features
From double-entry accounting to invoicing, GnuCash provides advanced features crucial for business financial management.
FAQ:
Q: Is Mint from India?
A: Mint is an honour-winning business distribution from India, held in high regard by the country’s business chiefs, originators, and policymakers.
Q: Is GnuCash suitable for personal use?
A: Absolutely! While GnuCash is tailored for businesses, individuals can leverage its robust features for personal financial management.
Q: Can I connect multiple bank accounts to the Money Dashboard?
A: Yes, Money Dashboard allows you to link and monitor multiple bank accounts seamlessly.
Q: Are these apps compatible with mobile devices?
A: Yes, all mentioned apps offer mobile compatibility, ensuring you can manage your finances on the go.
Q: How secure is the personal information stored in these apps?
A: Security is a top priority for these apps, employing encryption and other measures to keep your information safe.
Q: Do these tools support international bank accounts?
A: While some are tailored for the UK market, many support international accounts. Check individual app specifications for details.
Q: Can I export data for tax purposes using these tools?
A: Yes, most of these tools offer data export features, facilitating easy tax filing.
Conclusion:
Personal finance software is an important aspect of someone’s life to manage property to ensure financial stability. Here, in this article, we have presented a list of the 5 best personal finance software in the UK that is free to download and use.
You can choose one of them that suits you perfectly and it will make your financial life more stable without complications.
It will show your income streams, where money is going out, and also show you where cutbacks can be made. Some of the apps also let you inform savings and lending options too.
