Is Quicken Worth It For UK Customers… Probably Not

Quicken a long-standing budgeting platform, established in the 1980s by Intuit the software has long been used by small businesses and those looking to closely monitor their personal finances.

However, since the software was sold to HIG Capital in 2016 the focus on UK customers has been significantly reduced. Which begs the question, is Quicken still worth it for UK customers?

In my opinion, there are a number of better personal finance software applications than Quicken for UK customers – I’ve listed some examples below.

However, if you’ve been with the Quicken brand for almost 30 years then changing to a new platform may be more hassle than it’s worth. In this article, I plan to highlight why Quicken is no longer number one in the UK and some alternatives you may want to try depending on your needs.

Why I Don’t Reccomend Quicken For People In The UK

There are a couple of reasons I wouldn’t recommend Quicken for people based in the UK who are looking to record and track their finances.

No Bank Syncronisation

The majority of budgeting software applications now take advantage of open banking. This allows your transactions to be synchronized safely with your budgeting platform and minimises the need for self-reconsiliation.

While some people are against this feature and go without it. I believe it’s an essential option for those who are new to budgeting and perhaps don’t have the time to manually enter transactions.

Expensive

There are a number of budgeting platforms that are tailored to a UK audience which are either significantly cheaper than Quicken or even free.

Quicken requires a yearly subscription, which given the lack of integration and tools available specifically for UK customers isn’t something I feel is great value for money.

Complicated

For someone just getting started with personal finance, Quicken is overwhelming. It has an incredible number of features if you’re a money nerd. However, if you just want to track what comes in, what goes out, and where it all goes then this application is probably overkill.

Alternatives To Quicken For UK Customers

I don’t believe Quicken is great for UK customers given the fact there’s an extensive range of fantastic alternatives. These include;

Ynab

My budgeting application of choice. YNAB still tailored slightly more towards the US market than it is the UK but it’s got a fantastic following worldwide and has helped hundreds of thousands of people get out of debt and free themselves from the paycheck to paycheck cycle.

Money Dashboard

Money Dashboard is a free web-based budgeting application that works with open banking to synchronize to major bank accounts in the UK. Personally, I find it slightly limiting, however, there’s no doubt it’s great for those who are new to budgeting.

Money Wiz

This application is available for Mac computers, iPads, iPhones, and even the Apple Watch and provides users with an extensive amount of data in regards to their budget. It does require an upfront payment and a subscription (for open banking) but it’s worth paying for if you want to track your budget on the go.

Every Dollar

Every Dollar is available for both web and mobile. It’s been designed and developed by the guys at Ramsey Solutions, which is owned by financial guru Dave Ramsey.

The application is based on the zero-based budgeting method which can take some getting used to. While there’s no option to convert the currency from $ to £ it is free to use.

Banktivity

Banktivity is built specifically for Mac users and can import data directly from Quicken (should you look to make the switch).

The application offers a 30-day free trial and after that charges a one time fee of $69.99. It’s probably the most similar service to Quicken in the terms of the amount of data you can record and report on within the application.

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