![]() ![]() Almost every time I logged in to the app I was prompted with a “your spending is on track.” The app does not allow the user to enter goals which means there was nothing to gauge my progress against.ĭamian - Very well put together. There’s no tracking of planned versus actual spending so there’s no way to determine behavior. I think the app tries to keep your spending (in aggregate) at the front of your mind. I found it very easy to input my information and begin to review my spending.ĭamian - If you are the type of person that can keep things in check with some notifications on how much you’ve spent recently, then possibly. Gayle - The app was intuitive in its functionality, but not as a budget tool. Information will be readily at hand and easy to review as needed. Are notifications provided when close or over budget? - NOĭamian - Yes.Is there mobile access and synchronization? - YES.Can the app sync with checking, savings, credit card, loan, paypal, and other financial products? - YES.Are there trend reports showing spending over multiple periods? - NO.Is there forecasting for future income and spending? - YES.Are credit card transactions categorized into budget categories? - YES.Can budget categories be added/deleted/named/modified? Grouped together - NO.Can multiple versions of a budget be maintained and can past versions be accessed? - NO.Are multiple sources of money (checking, savings, lines of credit) available to include in the budget? - YES.Can target goals be set for categories ? - NO.Are there plan vs actual reports for past periods? - NO.Can transactions be split across multiple budget categories? - NO. ![]() If signing into a new device or from a new browser you may be required to verify your identity. Device security includes authentication via Passcode/PIN, Fingerprint/Touch ID, and when applicable Face ID. Transmitted data is encrypted and stored data is encrypted as well. Powered by Marcus by Goldman Sachs, Clarity Money is advertised as an app to help track spending and grow savings. If a platform makes you uncomfortable, don’t use it. For this series our team only tested apps we were comfortable sharing our data with. They might be selling it to partners, using it to send targeted messages, etc. We all know there’s “no such thing as a free lunch.” Just know these apps, like any other free offerings are using your data. Think back to your very first economics class. Most of the apps we’re choosing to review are free. Lastly, we will each give the app a score, 1-10 with a short paragraph for score justification.īut first, let’s get some disclaimers out of the way. In addition, three of our team members will provide a short answers to three subjective questions. Each review will consist of the same thirteen yes/no questions, broken into three categories. We’re trying out some of the more common tracking/budgeting apps and reviewing them, so you don’t have to. In an attempt to understand more of the market offering for budgeting apps we’ve launched this mini series. However, that doesn’t mean we’re using the best tools for our individual clients or maybe even for ourselves. Admittedly we all have biases and apps we tend to gravitate toward. Often our team is asked how you track your expenses in an attempt to maintain a household budget. ![]()
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