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Personal Finance Manager – OSS Solution


Several years ago, when we purchase a computer with Windows Operation System, there is a free personal finance manager software: MS Money. And we can download online bank statements, and import them to the software. It’s nice to put all our life expenses in one place, and track and manage personal finance.

Recently, the online bank system doesn’t support MS Money anymore, and we can only download the statements for Quicken.

Quicken is one of the best money management software available in the market today. It promises to balance your personal life as well as your financial life. It is a very intelligent software which predicts a budget for you to maintain and also helps you to stick to it. It will automatically download information from all the accounts you have and save your time of visiting several sites to check your finances. With one quick glance you can know what’s going in, what’s going out, which bills you need to pay and the ones lined up in future. It saves your time a thousand times and embarrassments of one more late fees of bills.[1]

How to solve this problem? It’s impossible for us to import everything manually … And then I find out the following alternatives.

GnuCash

GnuCash is the best free alternative to Quicken. On the internet, there are many free money management softwares available out of which the best alternative I found is definitely GnuCash. GnuCash is the most complete and also the closest alternative to Quicken. Not only can it be used as a personal finance manager, it also functions well as a small business accounting package. The features which make it a complete winner are its surprisingly simple yet truly sophisticated accounting tools. An in-depth analysis tells us that its major skills include double-entry accounting, schedule recurring transactions and support for Quicken files (OFX/QFX) import/export. Overall I give this software a thumbs-up for replacing Quicken.[1][2]

Grisbi

Grisbi is another good free alternative to Quicken. The most impressive feature of Grisbi is its simple, intuitive and clean interface that enables maintaining your finances a cake walk. It comes with a very easy to get accustomed with user interface with all the options mainly arranged in tabs. On one hand this software is so simple and easy to use, but on the other hand there is also no dearth of features. Reconciliation, scheduling transactions of future and creating a budget are just some of the many features found in Grisbi. The default currency used in Grisbi is Euros, but you can easily change that to other currencies. If the exchange rate is supplied, it can even adjust the currency to the base value automatically. The power of Grisbi lies in its magic to fabricate visually appealing reports and cater the need of user’s different representation of data. [1][3]

HomeBank

HomeBank is a good replacement for Quicken. HomeBank is a free financial management software. HomeBank is a small and lightweight money manager. It is so simple in its design and demands no availability of plenty of resources when it fires up on your system. One good point of this software is that it works in multi-platforms. You can use it to manage your personal accounts. It is designed to be very easy to use and get through. You can analyze your finances in detail with the aid of intuitive and powerful filtering tools and visual representations in the form of graphs. HomeBank comes with more than 14 years of user experience and feedback. I can guarantee you that if you are looking for a free software which can manage your finances well as well as cause you no financial tension of buying a software for it then this is the perfect software of choice.[1][4]

By checking above related features, I prefer GnuCash and HomeBank. Another free trial is considerable – Moneydance [5]: the only limitation is a maximum of 100 manually entered transactions, the downloaded and imported transactions are unlimited.

References:
[1] http://www.3alternatives.com/free-alternatives-quicken
[2] http://www.gnucash.org/
[3] http://www.grisbi.org/
[4] http://homebank.free.fr/
[5] http://moneydance.com/

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