Following the iPhone’s massive success, macOS users have become far more common than in previous decades. Apple disclosed a few years ago that over 100 million active users were running various macOS versions—this figure excludes the billion-plus iPhone user base.
This growing ecosystem creates demand for software designed specifically for Mac users from the ground up. Quicken has long dominated personal finance software for Mac, but Banktivity has recently gained traction as a compelling alternative for budgeting and financial planning.
What makes it particularly appealing? Banktivity offers genuine affordability with a 30-day free trial and yearly plans starting around $50. So what exactly is Banktivity, and why might you choose it over cloud-based competitors? This comprehensive Banktivity review covers everything you need to know.
What Is Banktivity?
Banktivity is personal finance software created exclusively for macOS and iOS users (Windows users are out of luck). It’s designed to help you take charge of your financial future—whether you’re tackling student loans, saving for a home, or building an emergency fund.
This comprehensive platform combines robust personal finance tools with educational resources and insights to help you both plan and visualize your financial future.
The most pressing question isn’t how to use Banktivity—it’s remarkably user-friendly. Rather, you’re probably wondering why you’d choose it when cloud-based alternatives like Hurdlr and Mint offer platform flexibility.
Honestly, there’s no definitive answer here, particularly since paid Banktivity subscriptions sync your data between iOS and macOS devices through the cloud. The choice ultimately depends on your user experience preferences.
There’s genuine appeal in having dedicated software built around macOS that prioritizes security and rich features. If you’re a Mac enthusiast seeking a new personal finance solution, the free trial is definitely worth exploring. Should you decide not to continue, you’ll automatically revert to their basic free plan.
Banktivity claims their users save over $500 annually and 40 hours of financial number-crunching—easily justifying the $50 premium subscription cost.
How To Use Banktivity
Millennials and Gen Z users will find something decidedly retro about Banktivity’s desktop experience: you actually download and install the app on your computer before starting.
Users accustomed to Personal Capital might find this approach somewhat clunky. However, keeping your financial data outside a Chrome browser window might provide peace of mind that Google won’t access every aspect of your financial life.
Like other personal finance apps, you’ll sync your accounts through API connections (standard across the industry). The desktop app’s advantage becomes clear with offline functionality and more comprehensive features for budgeting, investing, and financial goal management than most web-based alternatives offer.
The iOS version feels familiar to anyone who’s used Truebill or similar mobile finance apps. However, the iOS app functions more as a companion to the full-featured desktop version rather than a standalone solution. You’ll primarily use it for quick financial check-ins while mobile, saving detailed management and planning for your Mac.
Banktivity Pricing
Don’t overlook Banktivity’s free version. This basic software tier includes essential budgeting tools and select features, though it primarily serves to entice users toward the premium version.
The Basic Plan covers everything needed to get started. However, if you’re investing in premium personal finance software, upgrading to Silver makes sense for access to investment tracking, retirement planning, and advanced features.
We appreciate the flexibility to switch between plans anytime (hopefully upgrading as Banktivity improves your financial situation). However, like Quicken, Banktivity lacks monthly pricing options.
Annual plans are mandatory. While the 30-day free trial provides ample time to evaluate the software’s value, this limitation feels outdated. Today’s personal finance tools emphasize flexibility, giving competitors like Truebill a significant advantage over both Quicken and Banktivity.
Banktivity Features
Comprehensive features distinguish Banktivity and Quicken from free alternatives available online.
Banktivity’s plans include an extensive and expanding feature set:
1. Calendar View
Like other personal finance tools, you can view scheduled transactions and upcoming bills in one convenient location.
2. Mojave Dark Mode
You might wonder why we’re not discussing budgeting first. At this price point, solid budgeting functionality is expected from Banktivity. What might justify the cost are elegant touches like Dark Mode for Mojave users and later versions. If you prefer managing finances at night or simply enjoy sleek dark interfaces, this feature delivers.
3. Finance Tagging
Users frustrated with Mint’s limited tagging capabilities will appreciate Banktivity’s robust tagging system. You can mark spending and earnings across multiple categories with sophisticated granularity.
4. Quick Reports
While detailed data tracking and trend analysis are valuable, sometimes you need a clear snapshot of your financial health. Banktivity delivers this effortlessly.
5. Goals
Whether you’re planning for retirement, paying off debt, or saving for vacation, goal setting becomes straightforward. The automatic synchronization of investment and other accounts ensures you always know your progress toward financial milestones.
Should You Use Banktivity?
Taking personal finance seriously is our core mission. Whether you choose Mint, Personal Capital, True Bill, or any alternative, these tools are essential for gaining clear insights into your financial position.
Banktivity offers plenty to appreciate, though it doesn’t necessarily exceed expectations. Most of these features are available free through other platforms. Some competitors like Acorns combine spending tracking with automated investing capabilities.
The decision ultimately hinges on user experience preferences. If you want desktop-based, Mac-specific software, Banktivity is an excellent choice. However, if these qualities seem unremarkable, consider investing that subscription money instead.
Is Banktivity Worth It?
If you can afford a Mac, Banktivity’s cost probably isn’t prohibitive. But does that make it worthwhile? As a Quicken alternative, absolutely. However, Quicken now offers a $40 yearly plan that undercuts Banktivity by $10.
Spending $50-70 annually becomes reasonable when considering potential savings and planning benefits. Free platforms like Mint carry hidden costs worth considering. While Mint doesn’t charge subscription fees, they monetize user data and bombard users with credit card offers—essentially the same debt traps they claim to help users avoid.
Remember that you’re paying costs somewhere, whether through subscription fees or compromised privacy with free alternatives.
Pros
- macOS focused
- Affordable
- Robust features
- Easy-to-use
- Tons of data and visualization tools
- Highly secure
- Offline mode
Cons
- No Windows or cloud version
- They only offer annual plans.
- Isn’t really necessary with so many decent free options out there
Banktivity vs. Quicken.
For nearly four decades, Quicken has dominated macOS personal finance software. This extensive development period has produced extremely polished, user-friendly software.
However, from a value perspective, Banktivity delivers more comprehensive features across lower price tiers.
Both offer free trials and free versions with minimal price differences, so test both platforms to determine your preference.
Banktivity Review: The Verdict
Banktivity serves as an excellent personal finance tool tailored for Apple enthusiasts. If you don’t own a Mac or prefer cloud-based solutions, stick with free alternatives like Mint or consider bundled options within your preferred investment platform.
