With the addition of the MoneyWell review that was finished this week, there are now an equal number of personal finance software reviews for Windows-based computers and Macs. Lately I’ve reviewed more Mac applications to as to give visitors to the site a decent number of options regardless of the operating systems that they use.
If you’re not sure if you want to read the whole 2,539 word MoneyWell review, this post will introduce you to the software and give you a general summary of the full review.
MoneyWell is personal finance software built for the Mac. And like most software for the Mac, MoneyWell feels very solid and bug free. The company who brings you MoneyWell, No Thirst Software LLC, is a small, yet reputable company. The software is backed by a good 60-day money back guarantee and also offers a free trial (up to 200 transactions). So either way, you should be covered if you find you don’t like the software afterall.
MoneyWell’s Single Window
MoneyWell uses a single-window interface to display all of your finance data including past transactions, bucket (or envelope) amounts, graphs displaying your cash flow, and an area to enter transaction details. A picture is worth a thousand words and their screenshot (from their website) probably shows it best:
Envelope Bucket Budgeting
What I like about MoneyWell is that it uses the time-tested budgeting methodology knows as “envelope” budgeting. Of course, MoneyWell puts it’s own twist on it and uses buckets, rather that envelopes, but the idea and theory is still the same. Those who have used envelope budgeting can attest to the true effectiveness of the system. It helps you to prioritize spending and savings habits and encourages you to think through exactly where you money needs to go throughout the month. I’ve used it for years and will never go back.
The MoneyWell software is fairly intuitive, allowing someone new to the application to learn it fairly quickly. One of most notable features is that it allows you to connect directly to your bank to import transactions. This is something that most envelope budgeting programs don’t yet do.
Overall, I thought MoneyWell was a nice piece of software. There were little things that I thought could be done differently or better (for example, I personally was wanting a little more options in terms of graphs and reports, but I didn’t think it was a deal breaker), but I’m sure that those that use the system will find that it helps them to better manage their finances.
The cost is $49.99, but it has a free trial. So give it a spin and see if it meets your needs.
If you’d like to read the full MoneyWell review and walkthrough, you can find it here.
*A big thanks goes out to those who featured the MoneyWell related posts on their websites. The full MoneyWell review was featured on AllFinancalMatters.com and this summary was featured on YesIAmCheap.com.