One of the hardest parts of budgeting is actually sticking with it. We all have financial goals, but they can be easy to forget when the next tempting splurge comes up, or when we’re doing a bit of retail therapy online. Beyond that, it can also be hard to truly visualize your money, and understand what you have, what you owe, and what you need to save to achieve your goals.
Simplifi, the newest personal finance tool from Quicken Inc., can help with all of that. So if you’re ready to learn how to manage your money in a whole new way, keep reading for our review of one of the best budget apps — and all the details on how it can help you save money.
What is Simplifi?
Simplifi was first announced in February 2020 as the latest addition to the suite of personal finance solutions offered by Quicken. The company has been in business for more than 30 years and is best known for its personal accounting solutions that track spending and investments online.
Unlike other Quicken solutions, Simplifi is a bit more straightforward and was primarily designed to help people better visualize, spend, and save their money. By offering helpful organization tools that connect with your bank account, Simplifi can help you track your bills and other expenses as well as your progress when it comes to various savings goals.
How does Simplifi work?
Simplifi can connect to over 14,000 financial institutions, which means you’ll be able to see your full financial picture in real-time — even if your money is in many places. By pulling data from all of your connected financial accounts (credit card accounts, savings accounts, retirement funds, checking accounts, etc.), the app is able to provide various high-level views of your finances, including things like your debt to income ratio, your net worth, your cash flow, and even your spending on certain projects.
But the company isn’t just helping you track the big picture items, it will also help you find and track recurring expenses, establish spending categories, and even view your upcoming bills. With so many personalization features, the app really can help you gain a better awareness of your overall financial picture. You can monitor your spending by category, or set up custom spending watchlists using categories or tags. The company will even help you come up with a personalized spending plan based on your goals, and allow you to set up automatic monthly contributions to meet your savings goals — whether to buy a car, finance a mortgage, or save money for retirement.
In this way, Simplifi is a great tool for helping people overcome their biggest financial obstacles, whether that’s to get out of debt, curb their spending, or save up enough money for a big purchase like a wedding or a car. In fact, one of the only things the app doesn’t really help with is your credit score. Although other personal finance apps may offer a way to check your score or track it for changes, this isn’t something Simplifi offers at the moment. However, if you use the app consistently and make positive changes to your finances, you may see a boost to your credit score over time.
With so much to offer, it’s no wonder the Simplifi app isn’t free. However, it’s still a pretty reasonable price — with payment plans starting at $2.99 per month for annual plans, or $3.99 per month for monthly plans. Simplifi offers a free 30-day trial for new users, and it never charges additional fees or runs ads that will interrupt your service.
Who is Simplifi best for?
The Simplifi app is an ideal choice for anyone interested in better understanding their finances and improving their spending and saving habits. Not only will the various personalization features allow you to fully customize the app to fit your needs, but it’s also an incredibly intuitive and easy-to-use app — hence why we named it the best user-friendly budgeting app. Apart from providing a positive user experience, Simplifi also makes it easy to track all of your accounts in one place, from credit cards to investment accounts. If you want a quick, comprehensive look at where your money is going, this app may be right for you.
Whether you’re looking to gain more insight into your spending, better track your bills and expenses, or just hit a savings goal in less time, Simplifi has tools that can help you accomplish all of these things.
Common questions about Simplifi
Is Simplifi legit?
Launched in February 2020, Simplifi is a legit personal finance app owned and operated by Quicken Inc.— a trusted company with more than 30 years of experience developing personal finance solutions.
How much does Simplifi cost?
Simplifi starts at $2.99 per month for annual plans or $3.99 per month for monthly plans, but your first 30 days are free. The company does not charge any additional fees on top of the monthly subscription cost.
Can you check your credit score with Simplifi?
Simplifi does not currently offer a way for users to check or monitor their credit scores.
Is Simplifi secure?
Simplifi is secured and regulated by Quicken, which has been a trusted personal finance solutions provider for over 30 years. Simplifi uses 256-bit encryption to securely transfer data from your bank accounts into the app.
Which is better, Simplifi or Mint?
Simplifi and Mint aim to make money management easier, and both offer intuitive user interfaces and helpful features. Both apps are owned by trusted companies that have been in the financial space for decades; Quicken owns Simplifi, whereas Intuit owns Mint. Mint allows you to track your credit score; Simplifi does not yet offer that option.
How to get started with Simplifi
Simplifi is available online at simplifimoney.com, or it can be downloaded for iPhone or Android. Simply visit the App Store or Google Play and click to add Simplifi to your mobile device. Because both the web and mobile app versions offer the same solutions, you can seamlessly go back and forth between the two and manage your finances in whatever way is most convenient for you.
Other budgeting apps to consider
If Simplifi doesn't sound quite right for your needs, there are a couple of other apps you might want to try instead.
Truebill is another Bay Area finance management platform, but this one has a focus on helping you decrease your spending. The company not only helps you curb your spending by tracking purchases, but it will also help you eliminate pricey subscriptions or even contest a bill that seems too high. And the best part? Truebill will negotiate with companies on your behalf; you don’t need to worry about spending hours on the phone with your cable or wireless provider.
Digit is a San Francisco-based finance app that was launched back in 2013. It helps you automate your savings by analyzing your spending and expenses and then transferring money into a savings account based on what you can afford. Digit also lets you set short- and long-term savings goals and helps you work toward them.