Is a Quicken Subscription Worth It

A Quicken purchase used to last 3 years before you had to upgrade. Now, it's a yearly subscription. Find out if Quicken is still worth the annual fee.

Quicken is the grandfather of personal finance software.

It used to be the only way to easily track investments and account balances. But times have changed. Today, there are similar tools to track your investments and spending that are completely free.

Is a Quicken subscription still worth it? Here are 5 things you should know to see if it's right for you.

It's a Comprehensive Financial Tool

Quicken is one of the most comprehensive financial tools out there. Here are just some of its features:

• Budgeting
  
• Investment tracking
  
• Retirement planning
  
• Custom reports for spending, investments, and income
  
• Bill payment
  
• Business and property tools

Quicken might be overkill if you just need a tool to track your spending. There are cheaper personal finance software that only focus on budgeting. But if you want a program that does it all, Quicken is a great choice.

Need a Cheaper Alternative?

Empower offers completely free tools for retirement planning, investments, savings, and more.

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You Can Choose Between Desktop and Cloud-Based Products

Desktop Software Plans: (Quicken Classic)
Quicken offers dedicated desktop software plans known as Quicken Classic, sold as an annual subscription.^[1]

Here's what you get with each tier, from cheapest to most expensive:

• Quicken Starter
  This is the most basic product. It's a budgeting tool that tracks all your spending and imports bank transactions.

• Classic Deluxe
  This includes everything in Starter. It also lets you set savings goals, customize your budget, and create a debt reduction plan.

• Classic Premier
  This includes everything in Deluxe. It's best for those looking for robust investment tools. It features market comparisons and investment evaluation. You also get access to online bill pay and priority customer support.
  Quicken Bill Manager Services Guarantee
  If your online bill payment gets delayed in handling or posting, Quicken will take responsibility for late fees up to $50.^[2]

• Classic Business & Personal
  This includes everything in Premier, plus tools to manage your business transactions and rental properties. You can create invoices and track tax deductions while keeping your business and personal finances separate.

The Starter plan is probably the least worth it of the bunch. The product is pretty barebones, and there are other budgeting tools that do the same thing for less.

Classic Premier and Business & Personal cost more. But they're great for serious investors, business owners, and property managers.

Cloud-Based Products
Quicken also sells cloud/web-based products:

• Simplifi (Web/Cloud-only)
  This is Quicken's modern budgeting app. It focuses on spending tracking, subscriptions, savings goals, and mobile-friendly planning. It's simpler and easier to use than the desktop software, but it doesn't include advanced investing or business tools.

• Quicken Business & Personal (Web-based)
  This newer web-based product is designed for freelancers, small business owners, and landlords. It includes invoicing, expense tracking, rental property tools, and tax organization in a more streamlined web app.

• Quicken LifeHub
  This is Quicken's secure cloud-based organizer for important life and financial documents. It lets you store things like wills, insurance policies, passwords, medical records, and estate planning information in one place, with sharing and emergency access features.

Desktop vs. Mobile and Cloud Access

Quicken is still primarily a desktop-first tool, with a mobile app and limited web access mainly for syncing and basic account viewing. On Quicken Classic, mobile functionality is fairly restricted, while advanced features like reporting, investing, and planning are mostly desktop-only.

Its cloud-based product, Simplifi, offers a more modern, mobile-friendly experience with full cross-device access, but it's a separate product rather than an extension of Quicken Classic. This split can feel limiting compared to fully cloud-based competitors that offer consistent features across all devices.

Why Choose Empower over Quicken

See Comparison

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You Don't Have to Link Your Bank Account

Security is always a concern with financial apps. Quicken gives you the option to connect your bank account, but you don't have to. You can enter your transactions manually to avoid linking to your bank.

Quicken also uses security measures like 256-bit encryption and firewalls to keep your data safe.

The Interface Can Feel Outdated

Quicken has been around for decades, and it shows. The user interface looks a bit old-fashioned and can lag at times. And with all the features packed into the program, it can be overwhelming to navigate at first.

These might feel like nitpicky details. But it's something to consider for software you'll be using pretty often.

Quicken still performs fine for the most part. Plus, in terms of sheer quantity of tools, Quicken can't be beat—even if it does feel a little outdated.

Bottom Line

Users have way more options now than they did when Quicken came out in the 80s. So is a Quicken subscription still worth it?

Quicken offers a lot of features that competitors don't, such as:

• Business and personal finance tools in one program
  
• Advanced investment, budgeting, and tax tools
  
• Sophisticated custom reports

Not everyone needs all these tools. Some people just want a simple way to track expenses or to view all accounts in one place. If that sounds like you, consider an alternative to Quicken. (Some of them are free!)

But if you're an investor or business owner who wants an extra-detailed picture of your finances, Quicken can be a great choice.

Remember, Quicken has a 30-day money-back guarantee. If you don't like it, you can get a refund and try out a different program. There are lots of other options to help you reach your financial goals.

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