Let’s be real: You could track your finances for free using a pad and pen—or an Excel spreadsheet. But the tedium of doing so could result in mistakes and make you give up.

Money-management software organizes your day-to-day financial life in a way that’s easy to grasp at a glance and updates much of the data automatically upon request.

Even if you use a certified financial planner (CFP) or financial advisor, most of these experts focus on the big picture, not your day-to-day money matters. So money management software is still key for tracking your entire financial life in one location.

If you employ a certified public accountant (CPA) for ongoing tax advice or a tax preparer for your returns, tax-prep software may be unnecessary. However, if you’re unsure whether software would be a less expensive alternative to your tax preparer, you can try a tax-prep program to see how your results compared with professional help before making the switch.