Personal Capital Review – An Easier Way To Manage Your Finances

Have you ever heard of Personal Capital? If not, today I am here to talk all about their product that I personally use in this Personal Capital review. Personal Capital provides FREE personal finance software that is somewhat similar to Mint.com, but better. If you like using Mint, I recommend checking out Personal Capital. Quick summary of what Personal Capital…

Michelle Schroeder-Gardner

Last Updated: May 31, 2023

Disclosure: This post may contain affiliate links, meaning if you decide to make a purchase via my links, I may earn a commission at no additional cost to you. See my disclosure for more info.

Personal Capital Review - Free Personal Finance SoftwareHave you ever heard of Personal Capital? If not, today I am here to talk all about their product that I personally use in this Personal Capital review.

Personal Capital provides FREE personal finance software that is somewhat similar to Mint.com, but better. If you like using Mint, I recommend checking out Personal Capital.

Quick summary of what Personal Capital is – their free personal finance software allows anyone to better manage their finances by allowing users to aggregate their financial accounts. You can connect accounts such as your mortgage, bank, credit cards, investment portfolio, retirement, and more, and it is all FREE. You can track your cash flow, your spending, how much you’re saving, and how your investments are doing. With their free financial software, you can see all of your accounts easily in one place so that you can manage everything easily.

And I’ll say it again. It’s free and there’s no catch!

As you know, I’m all about making your finances as simple as possible so that you can focus on more important areas. Personal Capital allows you to manage all areas of your financial situation all in one place.

You can use Personal Capital via your computer, a tablet, cell phone, and even a smart watch, which makes it great because you can stay up to date on your finances no matter where you are.

 

Background information before we get into my Personal Capital review.

Personal Capital is growing in popularity, so I thought it was a great time to publish a Personal Capital review just in case any of you are interested in trying out their free personal finance software.

Personal Capital currently has over 700,000 registered users and over $120 BILLION is being tracked on their free personal finance software. Also, their investment advisory team is already managing over $1 billion in assets, and this number is quickly growing at 400% year-over-year.

Last little fun bit of information about Personal Capital is that Bill Harris is the cofounder and CEO of Personal Capital. He used to be the CEO of Intuit and CEO of Paypal.

 

Personal Capital Review - Free Personal Finance Software
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Why is Personal Capital better than Mint?

As you probably noticed earlier, I made the statement that Personal Capital is better than Mint.

Personal Capital does the things what Mint doesn’t do, mainly that Personal Capital helps you with your investment situation. If you are wanting to get on track when it comes to retirement and saving more money, then Personal Capital is what you need to be using.

With Personal Capital’s free personal finance software:

  • You can track your net worth and measure your progress. This will help you reach financial goals and see how you are doing. This allows you to track changes, make educated decisions, and monitor and reduce your debt.
  • You can manage your cash flow, view your income, analyze your spending, view your bills, and more with their free personal finance software.
  • You can track your investment portfolio all in one place so that you can easily track your performance, see your investment allocations, and easy analyze everything related to your investments.
  • Do you know how much in fees you are paying for your various investments, such as with your 401k? There are often many fees that people pay for their portfolio management, but there are much cheaper ways to invest your money. With Personal Capital, you can easily see what fees you are paying and Personal Capital shows you how this may be impacting your retirement plan.
  • You can receive a free investment checkup as well. You can see how your investments are performing, receive a free examination of your portfolio, and hear great advice so that you can improve your investment and retirement situation.
  • Their Investment Checkup tool creates a financial plan just for you so that you can analyze your risk assessment and see how prepared you are for retirement.

 

Personal Capital Review - Free Personal Finance Software
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Why is Personal Capital free?

Okay, so you may be wondering why Personal Capital offers the best personal finance software out there for free. There is a reason for why it’s free.

You don’t have to pay for Personal Capital if you do not want to. All of the services I mentioned above are completely free. However, they are hoping that if you enjoy their services so much, that you will eventually go a little further and let them one day manage your investments.

I just use their completely free version and you can just do the same and still be able to use their amazing free personal finance software. There’s no catch at all, it’s seriously free and there are no hidden fees.

 

Personal Capital Review – Their software is very safe!

The security of your financial information is very important, so, of course, I want to talk about this topic in my Personal Capital review.

Your information is very safe with Personal Capital. They use bank-level encryption so that all of your information and accounts are completely safe. They also perform regular security audits to make sure that their financial software is safe.

Also, with Personal Capital, you can’t actually move any of your money through their system and no one else can, so your information and money are safe in this way as well.

 

Personal Capital Review - Free Personal Finance Software

How do I use Personal Capital?

Signing up and using Personal Capital is very easy. After you create your account, you will be asked to link various financial accounts. Then, you can start using their free personal finance software right away. It’s really that easy!

Click here to sign up for Personal Capital.

I hope you enjoyed my Personal Capital review! Please let me know if you have any questions about their financial software.

What do you use to manage your finances? What do you think is the best personal finance software? Are you interested in using Personal Capital’s free personal finance software? 

 

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Michelle Schroeder-Gardner

Author: Michelle Schroeder-Gardner

Hey! I’m Michelle Schroeder-Gardner and I am the founder of Making Sense of Cents. I’m passionate about all things personal finance, side hustles, making extra money, and online businesses. I have been featured in major publications such as Forbes, CNBC, Time, and Business Insider. Learn more here.

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  1. Catherine Shaw

    Sounds good. I really need to get my financial act together!

    1. You should definitely look into Personal Capital then ๐Ÿ™‚

  2. Amy @ DebtGal

    The only thing that holds me back from using something like this is the potential security risk. But I bank online, so I guess This is no different, right?

    A million years ago, I used to use Microsoft Money, and I loved being able to view and track my full financial picture in one place. I’ll give this a look… I had never heard of it before, so thanks for passing along the info.

    1. Personal Capital is very safe. If you bank online, then yes it would be the same.

  3. I LOVE Mint so I will definitely be trying this out this weekend! Thanks for the suggestion.

  4. veronica lee

    Sounds like a great software to stay up to date on one’s finances. Gonna check this out. Thanks!

  5. I found out about this app a couple of months ago and I too can’t recommend it enough. I find it is just so much simpler to read than Mint. I actually felt more comfortable giving my bank info to this company than Mint who bombards me with offers every time I open it. Personal Capital didn’t do any of that thank goodness! My only complaint, and I have forwarded this suggestion to them, it’s that you can’t add personalized categories for cash flow. But this has forced me in a good way to simplify my budget categories. They said they are working on it for the future.

    1. Great to hear from someone who uses Personal Capital!

  6. I’ve used Personal Capital for about a year and low it. It’s a one stop shop to see all my money. I don’t need to log into 10 different sites anymore. And if that net worth chart on the first page isn’t motivating, I don’t know what is!

  7. I’m a huge fan of mint. Once I get more investments I will probably sign up for Personal Capital though.

  8. I’m a paper and pen girl, so I know what you mean ๐Ÿ™‚ Personal Capital does make it nice to have a quick snapshot of everything though.

  9. Natalie

    I could use some free financial advice!

  10. nicole dziedzic

    I could really use this to help manage my own finances, always great to have some help.

  11. Angela Stevens

    you make it sound so easy

  12. Ronald Gagnon

    I owned my own accounting/consulting firm and this program seems honest, usable and effective

  13. Joy McFalls

    thanks for all the great info!

  14. I think I am gonna transfer from Mint to Personal Capital, which is more functional and helpful.

  15. Theresa Smith

    If I had any money and any investments this would probably be useful.

  16. Betsy Barnes

    To manage our finances, I use the old school method. I keep journals. I just find it easier, especially with our every day budgeting. I am always looking at using an app or website that I can feel comfortable with, which is why I’m not using Mint. However, since Personal Capital can let me manage cash flow, view our income, analyze our spending, view our bills, I will definitely check it out. ๐Ÿ™‚

  17. Michelle S

    I think this seems like a great program! I think stuff like this should be taught as an “exit” program in high school.

  18. courtney b

    awesome program. All people should have to take a finance program in school or Something to learn about credit cards and just money trouble awareness.

    Thank you! xoxo;x

  19. Andreas Mikellides

    very good tips for personal finances controlling

  20. Tooth Fairy

    Learning about finances should begin with students in elementary schools and later at the high school level! Apps and financial programs like this might help the next generation better their budgeting and prevent accumulating such a horrible debt load which seems to be the norm in today’s society.

  21. Richard Hicks

    This is something that I would like to try out!

  22. Michael

    Thanks for the suggestion. I love Mint but lately I’ve been feeling like it’s a little restrictive. I’m not sure what exactly I’m missing, but it’s something. Going to give this a try. I like that it’s mobile. I used a great budgeting program that I got complimentary but it’s on Excel so obviously it’s not phone compatible.