PFM (Personal Financial Management) – An overview


Personal Financial Management or PFM mainly refers to software that allows users to add accounts from multiple institutions, categorize transactions, view spending trends and budget their expenses.


Brief history

PFM started in the year 1983 with the founding of Intuit. The company founders witnessed an opportunity in personal financial software keeping in mind the boom in personal computers during that period. Intuit’s flagship products Quicken and then QuickBooks followed, becoming a standard for households and small businesses alike to manage finances.

During 1997, Microsoft worked with Intuit to create Open Financial Exchange (OFX) which allowed financial institutions to exchange data with web users. In 2000, eWise implemented digital money management. The year 2006 saw Wesabe and Mint come to the forefront with their respective PFM tools. Mint was then acquired by Intuit in 2009.

As per a recent study by PCMag, Intuit owned Mint stood out as the most complete personal finance software among other softwares such as LeranVest, Quicken, Doxo and WalletHub.



Users can aggregate financial transactions in one place

Use data available to manage finances, expenses and budget.

Allows debt, credit card and loan management etc.

Enable alerts and notification to keep track of payments or if spending limits exceed.


PFM in India

Some of the PFM players in India include:


They offer online money manager software that provides a complete view of one’s financial status anytime. These include Credit cards, mutual funds, shares, insurance etc.


They help manage assets such as stocks, mutual funds, bonds, fixed deposits, PPF etc. Report generation for asset allocation, financial goals, returns etc. are also available.

Invest Plus

The Invest Plus software allows you to manage portfolio, assets, loans and personal finance.


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