Simplifi Review 2023: Automated Money Management at Its Best

Simplifi by Quicken is the most popular personal finance app of the year, and our Simplifi by Quicken Review will take a closer look at why we certainly think so!

Some free personal finance apps only offer basic budgeting tools or limited investment opportunities, but the Simplifi app provides users with a full suite of financial services.

Enter Simplifi by Quicken, the revolutionary personal finance tool designed to help you track, budget, and save like a pro.

From tracking your spending and income to helping you create detailed budgets and keeping track of investments, Simplifi by Quicken is a money management app that has it all!

Here’s why Simplifi is quickly becoming the most popular personal finance app of 2023:

Simplifi Review 2023: Key Takeaways

Here are some of the top key takeaways for our Simplifi Review:

Simplifi is a great Quicken program that provides an overview of cash flow and a versatile view of your financial health.
It offers a simple, understandable way to view your financial accounts and learn instantly how much money you have left.
You can track your spending by category and manage monthly expenses more effectively.
You can use it to create a personalized spending plan to increase your net worth over time.
With Simplifi, you can generate detailed financial reports and access investment tools for better insights into your finances at a relatively low cost- after a free trial, it’s only $5.99 per month or $2.99 with the annual plan.

Simplifi Features

Simplifi by Quicken is a powerful personal finance app that helps you manage your money quickly, easily, and securely.

It provides a dashboard for tracking your finances, budgeting tools for making sure you stick to your goals, and security features to ensure your data stays safe from hackers.

Whether you’re a first-time user of financial software or a seasoned user who wants an easier way to manage your money, this budgeting app has something for everyone.

Let’s take a closer look at some of the features that make this budgeting app stand out from the rest.

Financial Overviews (Enhanced Reporting)

Simplifi’s design makes it easy to track all your accounts in one place with reports and financial overviews.

Its dashboard shows you how much money is coming in and going out without having to go through multiple screens or scroll through long lists of transactions.

You can also customize the dashboard to display only the information that is important to you.

For example, if you want to focus on managing your debt or savings goals, then you can add those widgets to the dashboard, so they are always visible.

Spending Plan

The Spending Planner on Simplifi is one of the most robust features of this app. It allows you to view your transactions in one place and compare them against your budget goals.

It will give you an overview of your monthly expenses so that you can make informed decisions about your spending plan and where to cut back or invest more.

It divides your monthly spending plan into four parts – Net Income after bills and savings, Planned spending, Other spending, and Available.

It helps us keep our budgets in check, especially our grocery budget so we don’t overspend and splurge on groceries when we’d rather save for our next vacay!

Income Tracker

The Income Tracker feature on the Spending Planner lets you track all your income sources in one place.

It lets users enter all their different income sources—such as wages from a job or rental income from an investment property—and then provides a detailed overview of how much they’re making each month.

With the income tracker, you can make sure that all sources of income are accounted for so that everything runs smoothly when it comes time to pay taxes or manage investments.

Spending Monitor

The Spending Monitor helps users monitor their spending patterns in real-time to stay on top of their cash flow.

It tracks day-to-day purchases and larger spending categories over time (like car repairs or vacations), giving users a comprehensive look at their monthly expenditures.

This feature also provides alerts and spending reports when spending reaches pre-set thresholds so that users are always aware of what’s happening within their financial space.

Savings Goals

One of the most useful features of Simplifi is its Savings Goals feature.

The Savings Goals feature allows users to set up multiple savings goals to save money — whether it’s saving for a vacation, an emergency fund, or just general savings.

From there, the app displays a timeline of how long it will take you to reach your goal and any extra payments you can add to your savings account to achieve your desired results faster.

Watchlists

The Watchlist feature on Simplifi helps you keep an eye on your spending. You can use it to track and monitor your spending in specific areas to stay on top of your finances.

The website’s Watchlists feature includes interactive graphs showing how much money you have spent in a month. This can help you to budget your money better.

You can create watchlists using different categories, payees, or tags and set a monthly target for each area.

There is no limit on the number of watchlists you can create with Simplifi. When you create a Watchlist on Simplifi, you can also turn on Watchlist Notifications.

Investment Tracker

Your investment and retirement accounts can be added to the Simplifi Investment Tracker to help you keep track of them and feel more secure.

Once you add your investment accounts, you can see your investment portfolio in the Accounts List.

Simplifi doesn’t yet have investment tracking to track individual transactions, but you can view some details about what you own, like the Ticker Symbol, Number of Shares, Price per Share, and Today’s Change values.

Simplifi Pricing & Fees

Simplifi by Quicken is an affordable option for those looking to track their spending and budget better. There are two pricing plans available. Both plans offer the same features.

Annual Plan – Billed annually at $35.99 after the 30-day free trial. The discount for paying annually is applied. The Simplifi cost comes out to $2.99 a month.
Monthly Plan – Billed monthly at $5.99 after the first one-month free trial.

The good news is that there are no additional fees or hidden Simplifi costs associated with using Simplifi by Quicken.

If you use a third-party service provider through the app (e.g., a bank account or credit card company), you may incur fees depending on how you use their services.

Pros & Cons

Pros

Incredibly user-friendly. Setting up an account takes just minutes, and the dashboard is clean and easy to navigate.
Great security features to protect your data. All data is stored securely in the cloud, so your financial information will be safe and accessible.  
Easy to create watchlists. Convenient watchlists to track spending can easily be created.
Comprehensive analysis: Simplifi provides comprehensive financial details into your spending habits and even your upcoming bills, allowing you to make better financial decisions in the future.

Cons

Paid app: Simplifi by Quicken is not a free app but a paid money-tracking app. Most of the other money-tracking apps are free.
Cannot track investment transactions: You can only see details about your investment such as icker Symbol, Number of Shares, Price per Share, and Today’s Change values. You cannot see the investment transactions yet on Simplifi.

Other Budgeting Apps

Are you looking for a budgeting app to help you with basic financial tracking but want something different from Simplifi?

There are other personal finance apps you might be interested in to get different help with personal finances.

Empower (AKA Personal Capital)

Empower (previously Personal Capital) is a great free alternative to Simplifi, offering comprehensive financial tools and services that can help you take control of your financial picture. 

With Empower, you can access wealth management services and free financial management tools, such as an investment checkup, a 401(k) fee analyzer, and a spending tracker.

The Empower app is available on both Google Play and the App Store, allowing you to monitor all your financial accounts, investments, and retirement with one portfolio tracker. 

You also can use their investment management services coupled with financial advisors for personalized investment advice and strategies at a lower cost than traditional advisors. 

With our Empower review, you can learn more about the app’s features and what the program looks like.

Mint

Another one of the most popular money management out there is Mint. It is completely free and offers a comprehensive suite of features that make it easy to manage your financial picture from your phone.

Some of the features Mint offers include:

the ability to take control of your financial life and create monthly budgets
track your discretionary spending
set financial goals and get personalized advice from finance experts
link all of your bank accounts and also your savings accounts in one place
has investment features to view all your investments in one place
set up automatic bill payments. 

Comparing Mint vs. Quicken can help you learn more about budgeting and financial planning with both money management tools and the key difference between the two.

You Need A Budget (YNAB)

YNAB (You Need A Budget) is another popular budgeting app that focuses on helping users take control of their finances by creating a personalized budget.

With YNAB, users can connect their financial and bank accounts in one place; view their spending trends over time; set up custom goals; receive reminders when bills are due; and sync data across multiple devices.

FAQS

Is Simplifi by Quicken worth it?

It depends on the financial goals and budget of the individual, but Simplifi by Quicken is a great finance tracking tool that can help people get a handle on their entire financial life.

It offers features to manage your budget, comprehensive spending tracking, saving for long-term goals, and more.

Who can use Simplifi?

The Simplifi mobile app and website are great for US-based consumers who want to get their financial life in order, gain insight into their spending and upcoming bills, save more money, and reach their personal finance goals and net worth – no matter what their current situation.

The app only links with US-based financial institutions. Unfortunately, it is not accessible to non-US residents and cannot connect with non-US financial accounts.

Is using Simplifi better than Mint?

Ultimately, whether or not Simplifi is better than Mint depends on your individual needs and preferences as a user.

If you’re looking for an app with more features and no ads, then Simplifi might be the right budgeting tool.

However, if you’re looking for something with a free version that is easy to use, then Mint could be the better option.

What are other Quicken programs?

Quicken offers several different programs to meet the needs of various users.

Quicken Deluxe is designed for individuals who want to manage their money and save. 
Quicken Premier provides advanced investment analysis capabilities such as portfolio performance monitoring and cost basis calculation. 
Quicken Home & Business is tailored for those who need to track personal and business finances. 

Quicken offers powerful financial tools to help you stay on top of your finances. You can learn more about budgeting, tracking investments, and creating forecasts with their comprehensive review and analysis in our Quicken Review.

Final Thoughts

Quicken has so many great offerings to help you budget, and Simplifi is an excellent option for those looking for an easy way to organize their finances and track account balances to help them save money.

You can keep track of your spending habits without manually entering data or maintaining multiple spreadsheets.

The comprehensive suite of features makes it ideal for both novice and experienced investors who want more detailed insights into their portfolios.

Whether you are just starting with budgeting or are an experienced investor looking for deeper insights into your portfolio performance – Simplifi has something for everyone!