There are plenty of financial tools and apps out there to help you with your money. In fact, there are so many options that it can be a bit overwhelming to know which is best for you and if you even need to use one.
However, you’ll find that Personal Capital and apps like Personal Capital can be extremely useful keeping all your financials in one place, help track your current net worth, and monitor any spending or investments.
And if you are on this post currently, you probably are using Personal Capital or looking for alternatives. While I personally like the platform, there could be a few reasons you might want to switch.
Maybe you aren’t liking certain product features, it doesn’t fit your style, you outgrown the platform and need more options, or you just like to test out other products.
Whatever your reasoning, below you’ll learn more about the best alternatives to Personal Capital.
What is Personal Capital?
Although you might be familiar and have used Personal Capital, you might only have some basic understanding of the tool. If you are looking for apps like Personal Capital, then feel free to skip down to the next section.
Personal Capital is a financial platform that offers investment planning and wealth management tools. Personal Capital has a free and paid version: the free version comes with tools such as spending analysis, spending and saving analysis, portfolio performance, retirement progress and overall net worth.
Their retirement tool also makes it easy for users to plan for their retirement and experiment with different saving strategies.
The paid version of Personal Capital is for users who are willing to invest at least $100,000. The upgrade includes a team of advisors to help manage your wealth, and a starting fee of 0.89%.
If you invest more than $200,000, you get two financial advisors and a custom ETF portfolio. Users who invest more than $1 million get a fee as low as 0.49% and the ability to invest in individual bonds.
Who is Personal Capital good for?
Personal capital is a great tool for those who want to be able to link all their accounts and plan their retirement from one dashboard. It’s also a solid choice if you want to keep track of your net worth, investments, and receive insights on how to manage them best.
If you’re only interested in the free version, you’ll be able to get an investment check up and even a 401k fee analyzer. Personal Capital will also analyze your asset allocation and let you know if you need to rebalance your investments.
The Personal Capital dashboard will allow you to see all your investments in one place and make decisions accordingly, making it a great tool for DIY investors.
Personal Capital is also a tool for those who are looking for investment help and are willing to commit more than $100,000. If so, you’ll get a dedicated financial advisor to offer advice and guidance.
These advisors answer questions about retirement planning, taxes and buying a house, and are actually less expensive than traditional financial advisors who may charge 1% in fees.
Personal Capital might not be for you if you are looking for some help with wealth management, but do not have $100,000 to start with. If you are a small or medium sized investor, you will need to go elsewhere. Personal Capital is also not the best budgeting tool for those who like to forecast and manage their expenses.
If you want to give the app a shot or looking for something simple, then sign-up and use Personal Capital for free to try it out. It might be exactly what you currently need.
Best Personal Capital Alternatives
Below are some of the best Personal Capital alternatives to consider trying out. Not all of these options are the exact same, but many will provide similar features and other options to improve your financial health.
So if you are looking for more than just net worth and some investment tracking, the below will be interesting to you. And like many of my lists, these are in no particular order or preference.
Mint is a free budgeting app that helps you budget your money. It syncs with your bank accounts and tracks every transaction, both income and expenses.
The platform was one of the first budgeting apps on the market, and currently has features including alerts, cash flow breakdowns and budget pie charts.
Mint will also offer a dashboard to help you see how much cash you have, the debt you owe and the overall value of your investment portfolio.
And Mint shows you where your money is going, and will alert you when you’re not meeting your budget or an upcoming bill is due.
2. You Need A Budget (YNAB)
You Need A Budget is similar to Mint, but focuses more on changing your behavior. YNAB implements something called zero-based budgeting, where every dollar you spend is allocated to a budget category.
This allows you to track down every cent and discover any expenses that you weren’t aware of. YNAB is about forecasting your budget and planning for the future.
It’s a great tool to encourage you to start saving and taking your budget seriously. YNAB costs $11.99 per month, or $84 per year if you opt to pay annually. You can also try it completely free for up to 34 days to see if you like it.
Savology is another Personal Capital alternative that focuses on analyzing your financial life and then creates a personalized plan with actionable steps to help you achieve your goals.
Savology serves as both a budget and a plan to help you keep track of your retirement, insurance payments and more.
The platform will help you assess your strengths and weaknesses, and encourage you to keep reviewing your “financial performance indicators.”
The app offers its own report card that grades you across various categories, so you can easily find out what needs improving. Savology is completely free and offers a financial plan in 5 minutes.
4. Simplifi by Quicken
Simplifi by Quicken gathers all your financial information and aggregates it into one tool.
This allows you to see all your bills, create a spending plan and set your own financial goals. Simplifi syncs with all your financial accounts and helps you find any patterns in your income and spending.
Simplifi will additionally help you track your spending and create a simple budget to help you monitor your financial health.
It also offers what they dub the “Simplifi Dashboard,” where you can see how you’re doing with your goals and even have a visual representation of your balance over the next month. The platform costs $3.99 per month or $39.99 per year, but comes with a 30 day free trial.
EveryDollar is a tool associated with Dave Ramsey that helps users budget and manage their money.
The app is based on the zero-based budgeting rule, allowing you to track every dollar you’re spending. And with the paid version, EveryDollar syncs your transactions with your bank account and even offers phone support.
EveryDollar doesn’t track your investments or help you plan for your retirement, but it’ll help you dig deep into your own budgeting systems. The app offers a free version as well as a paid version for $129 per year.
But don’t worry, you have a 14 day free trial if you want to test the upgraded paid option.
Pocketguard is another app like Personal Capital that will sync and link all your financial accounts on one dashboard.
You’ll be able to link everything from credit cards, to retirement accounts, to loans, and it’ll offer its own personalized recommendations.
Based on the data gathered, the app will then create a personalized budget and help you set your own goals.
They also have their own “In my Pocket” feature that will let you know how much you have left to spend once you pay off your financial obligations.
Pocketguard will also analyze your bills and let you know if there is a cheaper alternative. The app has a free version as well as a paid version that comes at $3.99 per month or $34.99 per year.
7. Tiller Money
Tiller Money is a platform that allows you to go back to the basics and start using spreadsheets.
Tiller will put your entire budget onto various spreadsheet templates they have built by syncing your transaction data with your various bank accounts.
You can customize the spreadsheet however you want and even save all your data offline onto an Excel sheet. You can try the platform free for 30 days and after that will cost you $79 for the year.
Did you ever use physical envelopes when you first started budgeting with cash? Mvelopes aims to take that same budgeting strategy and use digital envelopes instead.
Mvelopes syncs with all your bank accounts and helps you set a budget according to the data.
Their app is focused on people who are struggling to stick to a budget or are in debt — as they say on their website, their aim is to help users recover as much as 10% of their income.
Mvelopes has a 60 day free trial well as three different paid tiers that offer various features. Their basic tier starts at $6 per month and their more premium level costs $19.99 per month.
Pocketsmith is a budgeting tool that uses “event-based budgeting.”
The app uses a calendar to track your spending, and offers an overview of how much you spend on a day to day basis.
This kind of budgeting approach is great for those who like to see their budget visually.
Pocketsmith also syncs with your bank accounts, offers multi-currency budgeting, cashflow forcasting for those interest in FIRE, net worth monitoring, and budget forecasting.
PocketSmith has a free version but also offers two paid versions starting at $9.95 per month and $19.95 per month.
Banktivity is a money management software that only works on Apple devices and owned by IGG Software. Banktivity syncs with all your Apple devices, and offers features such as budgeting, paying bills and tracking investments.
The platform also offers tools that allow you to pay your bills for specific bank accounts and manage your money exactly how you want it.
It offers great reporting tools that allow users to build and customize reports to their personal liking. The latest version of Banktivity costs a one time fee of $69.99.
Albert is another Personal Capital alternative and this app syncs with your bank accounts, guided investing, tracks your net worth, and monitors all your account balances and investment portfolio.
They also offer a feature named Albert Genius, which offers financial advice to those who want it.
Albert has a unique savings system: it monitors your weekly spending and then withdraws a small amount every week which it believes you no longer need.
At the end of the month, you’re left with a nice pile of savings without even noticing! Albert Genius starts at $4 per month, but you can also try it for free.Do you love Personal Capital? Have you switched to one of the Personal Capital alternatives listed above? Which is your favorite or least favorite? Let me know in the comments below!