In the wake of Mint’s discontinuation, many users are on the hunt for a new budgeting app. Simplifi by Quicken has stepped into the spotlight, promising to be an intuitive, on-the-go solution to help users organize their finances. But how does it stack up? In this review, we'll dive into the core features, explore its strengths and weaknesses, and give you a clear idea of whether Simplifi is the right budgeting tool for you.

What is Simplifi by Quicken?

Simplifi is designed to create a holistic spending plan by tracking your earnings and expenditures. It identifies recurring expenses, such as bills and subscriptions, and helps you stay on top of them. A convenient calendar feature also highlights your upcoming bills, giving you an overview of your financial landscape.

Where Simplifi stands out is its mobile-first approach. It is tailored for those who prefer managing their budgets on a smartphone, allowing users to make quick adjustments anytime, anywhere, without the need for a desktop or laptop.

Who is Simplifi Best For?

Simplifi shines for individuals who want an easy-to-use, mobile-friendly budgeting app. If you frequently need to check your finances on the go or quickly update your budget while out and about, Simplifi's smartphone interface may be ideal for you. It offers a streamlined way to manage finances, making it appealing to those who prefer minimal complexity in their financial tools.

Key Features of Simplifi

1. Spending Plan: Simplifi helps create a monthly spending plan based on your income, bills, and regular expenses. The app shows you how much is "available to spend" after your financial commitments are accounted for.
2. Account Integration: You can track multiple account types, including bank accounts, investments, and credit cards, all in one place. This gives you a comprehensive view of your financial status.
3. Custom Watchlists: Want to keep an eye on specific spending categories? Simplifi lets you create watchlists to monitor your expenditure in targeted areas, such as groceries, entertainment, or dining out.
4. Net Worth Tracking: With all your accounts linked, Simplifi calculates your net worth and presents an easy-to-read breakdown, so you can track your financial progress month by month.
5. Savings Goals: For those who are goal-oriented, Simplifi provides tools to set savings goals, whether it's for an emergency fund, a vacation, or a new car. It breaks these goals into manageable chunks, showing you how close you are to achieving them.
6. Reports: The app offers detailed reports, such as income breakdowns, spending summaries, and net worth changes, making it easy to track your financial trends over time.

How Much Does Simplifi Cost?

Simplifi by Quicken offers a simple pricing structure: $3.99 per month or $23.94 per year (with discounts available at certain times). There’s no free version, and users need to provide payment details upfront—an aspect that might deter those looking for a no-cost option.

The Pros of Simplifi

1. Affordability: With its low monthly fee, Simplifi is one of the more budget-friendly apps available, especially considering the extensive features it offers.
2. No Ads: Unlike some free budgeting apps, Simplifi provides an ad-free experience, allowing you to focus on your finances without distractions.
3. User-Friendly Interface: Simplifi’s interface is intuitive and designed for simplicity, making it easy for users to track finances without feeling overwhelmed.

The Cons of Simplifi

1. No Free Version: One downside is that Simplifi doesn’t offer a free tier. Unlike some of its competitors, users are required to pay from the start.
2. Limited Investment Tracking: While Simplifi supports investment accounts, its capabilities in this area are limited. Users seeking a more comprehensive investment management tool might look to other more advanced (and costly) financial apps.
3. No Credit Score Monitoring: Some personal finance apps provide built-in credit score tracking, but Simplifi does not. If keeping tabs on your credit score is a priority, you might need to supplement this app with another service.

Final Thoughts

Simplifi by Quicken is aptly named—it simplifies budgeting and money management into a streamlined, easy-to-use platform that’s particularly suited for mobile users. Its intuitive design, affordable pricing, and range of features make it an attractive option for individuals looking to get a better handle on their finances without being overwhelmed by too much complexity.

However, Simplifi isn’t a one-size-fits-all solution. If you’re seeking robust investment management or credit score monitoring, you might find the app's offerings somewhat limited. That said, if your primary goal is to manage spending, track savings, and get a clear overview of your financial health, Simplifi could be exactly what you need.

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