The 4 best personal finance tools for freelancers

NNatalie December 3, 2023 7:01 AM

As a freelancer, managing your finances can be a juggling act. It's not just about tracking income and expenses; there's also tax calculations, saving for retirement, and budgeting to consider. Thankfully, there are personal finance tools designed to make this process easier. Here are the 4 best personal finance tools every freelancer should consider using.

1. QuickBooks Self-Employed

When it comes to managing income and expenses, QuickBooks Self-Employed is a leading choice for many freelancers. With its intuitive interface and comprehensive features, it simplifies financial management and makes it easy to track your income and expenses. It also helps with calculating quarterly taxes, an essential aspect of freelance financial planning.

2. Mint

For those who want a comprehensive view of their financial health, Mint is the way to go. Not only does it track income and expenses, but it also provides insights into spending habits and offers budgeting tools. You can even link your investment accounts, making it a top personal finance tool for freelancers.

3. TurboTax Self-Employed

Tax season can be stressful for freelancers. With varying income, deductible expenses, and different tax rules, it can be tricky to navigate. That's where TurboTax Self-Employed comes in. It simplifies tax preparation and ensures you maximize your deductions.

4. Personal Capital

Personal Capital is a great tool for freelancers looking to manage their investments. With features like retirement planner and investment checkup, you can easily track and manage your investments. It also offers budgeting and expense tracking features, making it a comprehensive personal finance tool.

Here is a quick comparison of these tools:

Tool Income & Expense Tracking Budgeting Tax Calculations Investment Tracking
QuickBooks Self-Employed Yes No Yes No
Mint Yes Yes No Yes
TurboTax Self-Employed No No Yes No
Personal Capital Yes Yes No Yes

Using these personal finance tools, you can stay on top of your finances and focus more on your freelance work. Remember, the key to successful financial management as a freelancer is staying organized and keeping track of your finances regularly.

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