Is a Quicken Subscription Worth It
A Quicken purchase used to last 3 years before you had to upgrade. Now, it's a yearly subscription. Find out if Quicken is still worth the annual fee.
Quicken is the grandfather of personal finance software.
It used to be the only way to easily track investments and account balances. But times have changed. Today, there are similar tools to track your investments and spending that are completely free.
Is a Quicken subscription still worth it? Here are 5 things you should know to see if it's right for you.
It's a Comprehensive Financial Tool
Quicken is one of the most comprehensive financial tools out there. Here are just some of its features:
- Budgeting
- Investment tracking
- Retirement planning
- Custom reports for spending, investments, and income
- Bill payment
- Business and property tools
Quicken might be overkill if you just need a tool to track your spending. There are cheaper personal finance software that only focus on budgeting. But if you want a program that does it all, Quicken is a great choice.
Need a Cheaper Alternative?
Empower offers completely free tools for retirement planning, investments, savings, and more.
You Can Choose From 4 Price Tiers
Quicken has 4 different products ranging from $47.88 to $131.88 per year.[1] The more you spend, the more features you unlock.
Here's what you get with each tier, from cheapest to most expensive:
Starter
This is the most basic product. It's a budgeting tool that tracks all your spending and imports bank transactions.
Deluxe
This includes everything in Starter. It also lets you set savings goals, customize your budget, and create a debt reduction plan.
Premier
This includes everything in Deluxe. It's best for those looking for robust investment tools. It features market comparisons and investment evaluation. You also get access to online bill pay and priority customer support.
If your online bill payment gets delayed in handling or posting, Quicken will take responsibility for late fees up to $50.[2]
Business & Personal
This includes everything in Premier, plus tools to manage your business transactions and rental properties. You can create invoices and track tax deductions while keeping your business and personal finances separate.
The Starter plan is probably the least worth it of the bunch. The product is pretty barebones, and there are other budgeting tools that do the same thing for less.
Premier and Business & Personal cost more. But they're great for serious investors, business owners, and property managers. You won't find these advanced features with all financial software.
You Need a Desktop to Use It
Quicken offers a companion mobile app and web access. You can track spending, monitor investments, and update your accounts. But the features are limited compared to the full program on desktop.
This can be pretty limiting, especially if you're frequently on the go. If you need better mobile support, you might want to look elsewhere. Some competitors sync across all devices and give you complete access no matter which platform you're on.
You Don't Have to Link Your Bank Account
Security is always a concern with financial apps. Quicken gives you the option to connect your bank account, but you don't have to. You can enter your transactions manually to avoid linking to your bank.
Quicken also uses security measures like 256-bit encryption and firewalls to keep your data safe.
The Interface Can Feel Outdated
Quicken has been around for decades, and it shows. The user interface looks a bit old-fashioned and can lag at times. And with all the features packed into the program, it can be overwhelming to navigate at first.
These might feel like nitpicky details. But it's something to consider for software you'll be using pretty often.
Quicken still performs fine for the most part. Plus, in terms of sheer quantity of tools, Quicken can't be beat—even if it does feel a little outdated.
Bottom Line
Users have way more options now than they did when Quicken came out in the 80s. So is a Quicken subscription still worth it?
Quicken offers a lot of features that competitors don't, such as:
- Business and personal finance tools in one program
- Advanced investment, budgeting, and tax tools
- Sophisticated custom reports
Not everyone needs all these tools. Some people just want a simple way to track expenses or to view all accounts in one place. If that sounds like you, consider an alternative to Quicken. (Some of them are free!)
But if you're an investor or business owner who wants an extra-detailed picture of your finances, Quicken can be a great choice.
Remember, Quicken has a 30-day money-back guarantee. If you don't like it, you can get a refund and try out a different program. There are lots of other options to help you reach your financial goals.
References
- ^ Quicken. Plans & Pricing, Retrieved 05/28/2024
- ^ Quicken.Quicken Classic Bill Manager Terms of Use,Retrieved 05/02/2024
$20 Investment Bonus
- Open an Acorns account (new users only)
- Set up the Recurring Investments feature
- Have your first investment be made successfully via the Recurring Investments feature
Donna Tang is a content associate at CreditDonkey, a personal finance comparison and reviews website. Write to Donna Tang at donna.tang@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
Empower Personal Wealth, LLC (“EPW”) compensates CREDITDONKEY INC for new leads. CREDITDONKEY INC is not an investment client of Personal Capital Advisors Corporation or Empower Advisory Group, LLC.
2 hours ago | A visitor from Florida read Empower Review |
Trending | A visitor from California read Empower vs Quicken |
Expert Insights | A visitor from Illinois read Quicken Alternatives |
Expert Insights | A visitor from Pennsylvania read Online Budgeting Tools |
Featured | A visitor from Texas read Simplifi Review |
|
|
|
Compare: