What can you justifiably expect a personal finance software application to do for you? You will want it to sync your different accounts, help you set up a budget, send you warnings when your expenses exceed a certain limit, manage your trades and investments in the stock market and give you a good idea of where you stand financially. Moneydance, which I consider to be one of the best personal finance software 2016, does all of that and more.
Moneydance is a very simple and yet powerful personal finance software that is easy to use and comes with a number of useful features. It is compatible with the mobile and can be synced with your various bank accounts as well as with your trading account. It is affordably priced too. Let’s talk a bit more about it in this Moneydance Review 2016.
Moneydance Syncs Multiple Accounts
Moneydance syncs your finances across multiple bank accounts so that there is no confusion about your balance in each one of them. It updates you about all transactions and account transfers, and makes sure that you don’t miss even a single entry. Moneydance syncs several account types such as checking account, savings account, credit card and loan accounts. One of the things that Moneydance does differently from other personal finance software is that it tracks peer-to-peer lending accounts as well, which is something very few personal finance applications do.
Moneydance Works Well On the Mobile
Moneydance has an excellent app for both iOS and Android, besides a desktop application, which allows you to access your Moneydance account when on-the-go. You can check balances or manage your budget as needed. The only issue with Moneydance on the mobile is that it works in a partnership with Dropbox – you need to have a Dropbox account to sync the Moneydance program on desktop with that on the mobile. This should not pose a problem if you already have a Dropbox account, if you don’t, well you will have to get Dropbox soon.
Moneydance Helps You to Manage Your Budget
Moneydance makes it easy for you to create, edit and manage your budget. There are many spending categories on Moneydance. Everything is synced so that you can see what you have spent in each category. You can filter out some of the categories and choose from the budgeted items or active items, as you wish. Moneydance sends you alerts every time you go beyond your predetermined spending limits.
Moneydance Sends You Alerts and Makes Sure You Don’t Miss Out On a Payment
If you find it hard to keep up with multiple bill payments, credit cards and loan payments, then you should certainly buy Moneydance. The software warns you in time about an impending payment and makes sure that you pay your bills on time. If you have any unspent amount from a previous month, the software keeps track of that too, and tells you about it.
Moneydance Keeps An Eye On Your Stock Portfolio
Moneydance tracks your investments and keep a close watch on your stock and mutual fund portfolio. Moneydance is synched to your brokerage account. If you have a stock or a mutual fund that are underperforming, it tells you about it, so that you can sell them off before they get any worse. Similarly, it tells you about stocks or mutual funds that are doing very well, so that you can either sell at a profit or invest in more of them. It displays the value of your portfolio on a minute-by-minute basis, throughout the trading day.
How Much Does Moneydance Cost?
Moneydance is available for a one-time purchase price of $49.99. It comes with a 90-day money back guarantee. You can buy Moneydance here.
The Bottom Line
I hope you enjoyed this Moneydance Review 2016. Moneydance syncs your investments and savings across multiple accounts, credit cards and loan accounts. It alerts you every time you exceed your spending limit and informs you in advance about impending payments. It works perfectly well on your mobile – but the Moneydance app works only with Dropbox. This is a minor negative – and not really a negative if you already have a Dropbox account. All said and done, I think Moneydance is a very good personal finance application. Do read the official Moneydance website for more information.