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Review Simplifi Pros and Cons

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Simplifi by Quicken is a modern-day budget and money-tracking app brought to you by the creators of Quicken.

Unlike its predecessor, which was mainly desktop-based, Simplifi is a fresh, web-based app also available on iOS and Android devices. This app offers a neat, user-friendly, and ad-free platform to manage your finances.

While it comes with a cost, the absence of ads could be a pleasant change, especially when compared to its free competitor, Mint. This review reflects more on what the platform has to offer.
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Pros:

User-friendly: Intuitive menus and tools.
Informative: Provides key financial insights to keep you on track.
Ad-free: No ads or product upsells, just pure financial advice.

Cons:

Subscription-based: No free version available post-trial.
Areas lacking: Minimal investment features and debt payoff planning.

What is Simplifi?

Simplifi is an extension of Quicken into the modern mobile world, allowing you to track and manage your money on the go.

Upon subscribing, you can synchronize all your financial accounts – be it bank, credit card, loan, or investment accounts, and view them collectively.

This way, you can easily monitor your balances and recent transactions and gauge how well you’re sticking to your budget.

More Than Just a Tracker

Simplifi isn’t merely a tracking tool. It goes a step further by providing a comprehensive view of your financial standing. Upon setting up, you’ll link your financial accounts, which then funnel all your financial data into a consolidated dashboard on Simplifi.

This dashboard doesn’t just show your spending but gives a broader picture of your net worth, income, total savings, and even store refunds. Plus, it allows you to set and track financial goals.

The process of adding accounts and navigating through the app is quite straightforward and hassle-free, providing a smooth user experience.

Is Simplifi the Right Fit?

The essence of Simplifi is to offer a clean, organized, and ad-free space to manage your finances, which may appeal to those willing to pay for such convenience and clarity.

Depending on your personal preferences regarding privacy, ads, and budgeting, Simplifi by Quicken could be a wise choice for a more streamlined and insightful money management experience. Here’s a breakdown of the primary features:

Account and Transaction Tracking

The dashboard is the core of Simplifi, where you can monitor accounts, balances, recent transactions, and your spending plan. It records every monetary movement, or you can manually enter transactions.

Spending Plan

Essentially your budget, the spending plan tracks monthly expenses, offering customizations based on recent income and expenditure trends.

Bill-Tracking

With a calendar and a list view of upcoming bills, this feature ensures you’re prepared for upcoming payments, avoiding any unexpected financial surprises.

Financial Reports

This section provides visual breakdowns of your spending, income, net income, savings, and a monthly summary. Plus, it tracks store refunds to ensure they’re credited back to your account.

Investment Details

Lists all investment holdings from connected accounts with their balances and daily price changes, although it might need more features for a detailed analysis.

Savings Goals

A fantastic tool to track your savings progress towards specific goals like an emergency fund or a major purchase. This feature integrates with your budget, reminding you to allocate funds toward your goals.

Simplifi by Quicken is designed to provide a thorough overview of your financial status while aiding in budgeting, bill management, and goal setting. It is a practical tool for individuals looking to streamline their financial management.

How Simplifi Works and Who Is it For?

Simplifi by Quicken is engineered for ease of use. To get the most out of it, it’s advisable to link all your financial accounts for a comprehensive view.

As a standalone app with its database, Simplifi doesn’t automatically import data from Quicken or other apps; however, you can manually import data via CSV files.

Simplifi is a great fit for individuals seeking a clear financial picture and useful tips to stay financially disciplined.

It’s particularly appealing to those who prefer an ad-free environment, even at a small cost, enhancing privacy and security since there are no third-party suggestions based on your data.

The subscription fee of $2.99 per month (billed annually) after a free trial period is the price for this ad-free experience.

Payment Structure

The journey with Simplifi begins with a 30-day free trial. Though you’ll need to provide payment details during sign-up, you can cancel anytime before the billing kicks in to avoid charges.

The annual subscription fee translates to $2.99 per month, covering unlimited account linkages without any extra charges.

Getting Started with Simplifi

Simplifi by Quicken aims to provide an uncluttered, ad-free platform for managing your finances effectively, with a simple setup process, making it a user-friendly option for individuals keen on organizing their financial life. Signing up for Simplifi is straightforward:

Visit Simplifi’s website or download the app, then hit the “start a free trial” button.
You’ll be guided through a simple onboarding process where you’ll provide your email, create a password, and enter billing details.
Post sign-up, it’s time to link your financial accounts to Simplifi.
While it’s simpler than opening a bank account, it has a few more steps than creating a social network profile. Nonetheless, the ease of the sign-up process is commendable.

Best Alternatives to Simplifi

Absolutely; if Simplifi by Quicken doesn’t quite meet your needs, there are several other money management apps out there that might be a better fit. Here’s a brief on the alternatives mentioned:

Mint:

A well-established, free money tracking app by Intuit (Quicken’s former parent company), supported by ads.

Empower:

A free app focusing on investment tracking, with an option to upgrade investment management services at a cost.

Lunch Money:

A relatively new entrant offering a number-centric, ad-free platform for budgeting and money tracking.

Each of these apps has its own unique set of features and focus areas, catering to different user preferences and financial goals.

Whether it’s the ad-supported free service from Mint, the investment-centric approach of Empower, or the analytics-driven, ad-free experience from Lunch Money, there’s likely a money management app that will suit your requirements.

Wrapping Up

Absolutely, the value of Simplifi at $2.99 per month (billed annually) largely hinges on personal preferences and financial priorities.

For those who are budget-conscious, free alternatives like Mint or Empower might be more appealing. However, if the idea of an ad-free experience, better customer service, and a well-organized platform appeals to you, spending a little for Simplifi could be a worthy investment.

In essence, Simplifi stands out as a great option for individuals who value a streamlined, ad-free platform to manage their finances and are willing to pay a modest fee for that level of service and privacy. Click here to sign up for an account.
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The post Review Simplifi Pros and Cons appeared first on Modest Money.

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