Best budgeting apps
Comments
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It's frustrating that UK banks seem to be reluctant to allow agregators (such as Money Dashboard) to access accounts. I've been looking at options and there is very little. Apps where you have to import a file are pretty convolute, ie log in to every account you have to download statements, import them and check they are correctly imported, which must be done fairly regularly as most banks only allow two or three months of statement download, especially when you have a lot of accounts.
Things like OnTree and Money Dashboard seem so much more "2017", but I worry about giving my logins to third parties. They say they can't do anything with it and their software only has read access, but the logins you're giving them are your same full access which does give the power to move, withdraw, etc. Banks seem way to slow to be creating a secure level that does give read only access that would make them much more secure and safe.
Probably because more people would use them and realise when they should be moving money out of accounts.... :undecided
It appears that with one breath you bemoan the lack aggregators then say you're reluctant to give out your login
I don't think there's any other way to do it.
You could be satisfied that every bank requires two factor authentication to actually move money somewhere nefarious, so really there's not a lot you can do with someone's online banking details these days.
These things are very difficult to write, and have a limited audience. They also break regularly- QuickBooks didn't work for a very long time with my Co-op account, but worked perfectly with my Smile account (go figure).0 -
It shouldn't be difficult at all, it just needs a separate layer of security access, but it needs banks to co-operate by allowing the access.
My login gives full access to my account, which allows moving money, etc. Banks could easily create APIs that would give a separate, truly read only access logon separate from my full logons.
I want to be able to use these services, and would pay for it, but not by giving my full access logins.0 -
Budget is the plan
tracking is just checking the plan was right.
MSMoney is still the best at doing budgets and planning and analysing
IN practice it is far better to automate the regular entries(DD and SO)entries and manually adjust for the minor changes(date/amount)
For the spending manually entering the data and categories is all part of the ongoing analysis of where the money goes, you can't really automate that as a Debit to say tesco could be a multitude of categories.
There is no need to have just in time entries if you have a decent budget in place you get to instinctively know what you will be spending in advance.
even when fully automated with access to all accounts CC banks mortgage etc you still have to categorize the entries and analyse.
once the budget is accurate and on top of things an hour or two a month should have everything up to date and analyzed.1 -
It shouldn't be difficult at all, it just needs a separate layer of security access, but it needs banks to co-operate by allowing the access.
My login gives full access to my account, which allows moving money, etc. Banks could easily create APIs that would give a separate, truly read only access logon separate from my full logons.
I want to be able to use these services, and would pay for it, but not by giving my full access logins.
By creating such an API, banks lose exclusivity. For example, the reason they want me to move my current account to them is because they can then advertise their products to me, for example if I have their credit card I can see it in the same screen as my current account. Same with personal loans, and even mortgages (though many banks don't show these in IB.)
Virgin misses the trick here, having several different logins for each account; savings, ISA, current account and credit card.
The idea of easily aggregating scares the banks, because you no longer have that inertia on switching products. I find using Money Dashboard I get around this, but it's still 12h or so behind.
Maybe when the banks can agree on language (informal overdraft/emergency borrowing/unplanned overdraft!), we may see more of this. Or pigs will fly.0 -
I was too very sceptical to use the service, however, I have a friend who works in one of these startups he assured me that they do store my login details but pass to the bank to log in, set like you would be accessing your online banking through a different site. I' m not sure if you guys now about Open Banking but this new law should encourage us to use other services not only the banks.. apparently, it was EU idea to promote fairness in the banking sector as banks have been tricking people into debt!0
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Have you tried Money Dashboard? They have got a web version and the mobile app0
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Thought I would post here as it may be useful for some people.
I have been using MoneyWiz as my financial mamager of choice but have recently moved over to Buxfer .
Both the above support account syncing (via Yodlee and also SaltEdge in the case of MoneyWiz) - which really helps with keeping up-to-date.
The handling of investment accounts with Buxfer seems much more stable that MoneyWiz which does not work for me (I use hl.co.uk). The reporting with Buxfer is also better.
Also Buxfer is a full cloud service whereas MoneyWiz is client application based with a cloud syncing service (that actual causes a few issues itself). I know the MoneyWiz team are working on a web based service.0 -
Thought I would post here as it may be useful for some people.
I have been using MoneyWiz as my financial mamager of choice but have recently moved over to Buxfer .
Both the above support account syncing (via Yodlee and also SaltEdge in the case of MoneyWiz) - which really helps with keeping up-to-date.
The handling of investment accounts with Buxfer seems much more stable that MoneyWiz which does not work for me (I use hl.co.uk). The reporting with Buxfer is also better.
Also Buxfer is a full cloud service whereas MoneyWiz is client application based with a cloud syncing service (that actual causes a few issues itself). I know the MoneyWiz team are working on a web based service.
is it possible to bring previous years with another programme like Quickbooks into Buxfer and then carry on from the start date of Buxfer( or similar programmes) Its the history that is needed for me
thanks0 -
Yes you can.
I did just this with some of my accounts.0 -
kevchambers wrote: »Here you should find various budgeting app and tools: xxxxxxxxxxxxxxxxxxx
Be VERY WEARY of downloading ready-made spreadsheets, especially if recommended by newbies. They invariably contain macros. These could infect your PC with stuff you really don't want to be infected with.0
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