Take control of your wonga with this clever finance app
Personal finance apps haven’t changed much over the years, but MoneyWiz has done its best to inject some new life into this not exactly inspiring market. You can update your finances from both desktop and mobile (via a separately purchased iOS app). For example, unlike other solutions, SilverWiz’s proprietary SyncBits technology swiftly syncs data between mobile and desktop via the cloud.
MoneyWiz 2 takes innovation one step further, allowing you to download transactions from over 2,000 online banking institutions (including most big UK banks) into MoneyWiz, saving you the hassle of entering them yourself. You’ll have to pay for the privilege, though – £3.99 a month (or £39.99 a year).
The tool had an inauspicious start, with widespread issues reported early on, but while most have been resolved with this release, we suggest hanging fire until a mooted free trial appears. In truth, we’re not massive fans of the automatic approach anyway – it’s often a few days before transactions show up, meaning you’re not always looking at the latest picture.
MoneyWiz 2 debuts a fresh, Yosemite-inspired design, and includes many welcome new features and improvements, including support for loan accounts, the ability to group accounts together and support for creating local backups of your files.
The facelift doesn’t mess with what worked before, which means it remains an easily navigable twopaned interface, split into five logical sections. Most of your time will be spent in the default Accounts screen where you can input and review transactions. It works fine on the iPad, but feels too simplistic on the Mac, where you can switch to a more detailed and traditional spreadsheet layout.
Set up your outgoings and incomings in a Scheduled section,
The forecasting tool allows you to project your finances and also, hopefully, drive more savings into your account
then navigate to Budgets where you can curb spending by allotting specific amounts to certain transactions. Budgets are simple to set up and monitor – you get alerted if you go over – and offer a way of reining in spending on, say, DVDs and other, er, essentials.
MoneyWiz offers a range of charts and tools to help you analyse where your money’s going. The forecasting tool allows you to project your finances, plan for events and hopefully increase savings. Switching from other packages is easy too, thanks to comprehensive support for a wide range of formats.
Despite its teething problems, MoneyWiz 2 remains a great choice if you’re looking to move from the red into the black. Nick Peers
MoneyWiz 2 remains an effective and user-friendly tool to manage your finances and help make savings.
MoneyWiz 2’s default transactions view belies the tools and features lurking beneath the surface.
Pick one of many custom reports and charts to get a detailed look at your spending.