If you’re considering Simplifi by Quicken for managing your finances, there are a few things to know before signing up. Simplifi is a contemporary personal finance app that stands out from traditional finance software like Quicken. It offers an integrated solution for budget and money tracking across various platforms, including web, iOS, and Android devices.
Simplifi provides a clean, user-friendly interface for tracking your financial goals and details in one location. However, unlike many personal finance apps, Simplifi comes with a subscription fee. This Simplifi by Quicken review will dive into the functionalities and value proposition, helping you decide if it aligns with your financial management needs.
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What to Know Before Signing up to Simplifi
There is a lot to know before signing up to Simplifi, how it stacks up to Quicken, benefits, costs, and drawbacks are all important considerations I will cover, but let’s start with some background information.
What is Simplifi by Quicken?
Simplifi by Quicken is an innovative personal finance app designed to provide a comprehensive and streamlined approach to financial management. It differentiates itself from traditional finance tools by automatically connecting to a user’s bank accounts, credit cards, and savings accounts, eliminating the need for manual data input. This integration offers users a real-time, complete overview of their financial health. As a mobile and web application, Simplifi acts as a financial aggregator, consolidating all financial accounts in one platform, giving users a clear, 360-degree view of their financial situation.
While Simplifi may appear similar to other financial aggregators, its association with Quicken, a company with over 30 years in the financial services industry, lends it credibility and expertise. It’s crucial to note that while Quicken has been a household name for decades, it is now operated by H.I.G. Capital after its sale in 2016 and is no longer affiliated with Intuit.
Simplifi, as a product of Quicken, carries the legacy of this well-established financial services provider, offering users a reliable and insightful tool for managing their finances.
Simplifi by Quicken Benefits
Before you decide to sign up for Simplifi by Quicken, let me explain the benefits they bring to the table:
- Customizable Dashboard: Tailor your dashboard to suit your preferences. The default titles include your Account List (Net Worth), Spending Plan, Recent Transactions, Upcoming Bills, Top Spending Categories, Multiple Spending Watchlists, Spending Over Time, and Monthly Income tracking.
- Real-Time Quotes and Investment Balance Chart: Monitor your holdings with real-time quotes and observe balances over time through detailed graphs.
- Performance Tracking: Analyze the performance of your investments with comprehensive graphs showing their progress.
- News Feed: Stay updated with news related to the companies in your investment portfolio.
- Cryptocurrency Tracking: Manage your cryptocurrency investments and link accounts from leading financial institutions.
- Investment Transactions: Directly view and edit investment transactions within the app.
- Projected Balances Tool: Utilize this tool for a visual forecast of your account balances for the next 30 days, based on recurring transactions.
- Mobile App Accessibility: Available on Google Play for Android devices and The App Store for iOS devices, the app facilitates on-the-go financial tracking.
- Account Security: Leveraging Quicken’s system, your data is protected with 256-bit encryption during transmission from bank servers, ensuring confidentiality and secure updating of your accounts.
- Ad-Free Experience: Enjoy managing your finances without the distraction of advertisements.
- Comprehensive Financial Overview: Get a full view of your financial situation, including investments, to make informed decisions.
Simplifi by Quicken Limitations
There are also some limitations of Simplifi I would like to make sure you are aware of before signing up. Here are the main ones I found:
- Occasional Bugs: Given that Simplifi is a relatively new app, users may encounter some bugs, as indicated in customer reviews.
- Geographical Restrictions: Currently, Simplifi is only accessible to customers in the United States.
- Lack of Investment Advice: The app does not offer investment recommendations, which means users won’t receive guidance on how to grow their investments.
- No Investment Tracking: Simplifi does not include features for tracking investments.
- Limited Credit Score Tracking: The app offers limited capabilities in monitoring and tracking credit scores.
Simplifi Pricing
Simplifi by Quicken offers a pricing structure that includes a 30-day free trial, giving users the opportunity to explore its features before committing to a subscription. After the trial period, there are two billing options:
- Monthly Billing: Users can opt for a monthly subscription at $3.99.
- Annual Subscription: For those preferring an annual commitment, the cost is $35.99 per year.
It’s important to note that users need to provide payment card information when signing up and must cancel before the billing date to avoid being charged if they choose not to continue with the service.
Simplifi Alternatives
If something in this Simplifi review has led you to believe it isn’t right for you, don’t worry, there are plenty of other quality options available. We can start our exploration with Quicken, which can be considered Simplifi’s more robust counterpart. If you have a very complex financial situation, Quicken might be worth the extra effort. This Simplifi vs Quicken article will highlight the differences between the two platforms.
If you are after a free budgeting tool, Mint is worth a look. If you want to keep tabs on all financial accounts in one place and like customizable alerts sent to your phone, Mint might have what you are looking for. This Simplifi vs Mint review will give you all you need to determine if it meets your needs.
If you need a budget, YNAB might have what you need. If you are into zero-based budgeting or curious about it, this Simplifi vs YNAB review will allow you to thoroughly compare the two platforms to see which speaks to your needs.
The last alternative I will discuss is Rocket Money. If credit monitoring is one of your priorities, Rocket Money has you covered. With robust budgeting tools that suit various financial situations, Rocket Money has been gaining in popularity. Check out this Simplifi vs Rocket Money review to see how they stack up.
Final Thoughts
When considering Simplifi by Quicken, it’s crucial to understand what to know before signing up. This app is designed for managing personal finances and offers a user-friendly interface to track spending, set savings goals, and consolidate financial information. Its 30-day free trial allows you to explore its features, but it requires a subscription for ongoing use.
For those looking for an efficient and intuitive financial management platform, Simplifi may be a fitting choice. To gain a deeper insight and determine if it aligns with your financial management needs, Click Here to get started today.
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