Moneyspire is personal finance software compatible with macOS versions 10.10, 10.11, 10.12, 10.13, 10.14 and Windows versions 7, 8, 8.1, 10. You can try the software for free but will need to pay $29.99 (discounted from $49.99) if you want to use the program to manage your money over the long term.
Moneyspire offers many features that help you to effectively manage your money. The program provides a calendar to remind you when bills are due and even allows you to add payees and print checks directly from your account. You can also import account information, see your balances and transactions on one screen, and get reports on where your money is going.
Moneyspire has been around as a company since 2007 and has customers in more than 100 countries. It’s one of many offerings in the field of personal finance software, though, and doesn’t have much to set it apart from free programs such as Mint that provide similar functionality.
In this review:
Getting to Know Moneyspire
Moneyspire has a lot to offer customers looking for a comprehensive software program to manage their financial accounts in one place. Here are some of its key features.
Account Management Tools
- Link an unlimited number of accounts, including bank accounts, credit cards, and even investment accounts. Moneyspire Connect will automatically import transactions from linked accounts or you can add information in manually. You can also import information on other assets and liabilities to give you a full picture of your financial life.
- Reduce the chances of incurring overdraft fees by forecasting account balances going forward. Forecast features take into account your online banking deposits and withdrawals.
- Set bill reminders and upcoming payments on a daily, weekly, monthly, or annual basis.
- Print checks on pre-printed check stock and generate reports for payees.
Budgeting and Reporting Tools
- Easily categorize your transactions with an unlimited number of categories.
- Generate reports so you can track spending, see if you’re sticking to your budget, and monitor your investments.
- View income and expense summaries and detailed reports; transaction history reports; a chart showing expenses; and a chart showing trends in your net worth.
- Create an unlimited number of budgets, keep track of your progress, and set up your budget so unspent funds automatically roll over.
- Search transactions by date, amount, payee, memos you left to yourself, categories, or tags. This can be especially helpful at tax time.
While Moneyspire has lots of features, these come at a price. As of February 2019, Moneyspire is on sale for just $29.99, which is 40 percent off the regular price of $49.99.
The good news is there’s a free trial and 30-day unconditional money-back guarantee. The fee you pay for the software is also a one-time fee; there are no ongoing monthly costs, unlike for competitor programs such as You Need a Budget, which costs $6.99 monthly.
The Benefits of Using Moneyspire
If you’re thinking of using Moneyspire, there are some significant advantages:
- The software is feature-rich, with many tools to help you get a big picture view of your financial transactions and where your money is going.
- You can prevent overdraft fees thanks to Moneyspire’s balance forecasts. Overdraft fees can be expensive, and your bank could even close your account if you overdraft too many times.
- Budgeting is made simpler. With Moneyspire, you can easily make a budget and monitor whether you’re sticking to it. This makes it easier to stay on track with accomplishing your money goals.
These benefits may make the program worth the expense, especially if you do a free trial and like the way the program works.
The Downsides of Using Moneyspire
While Moneyspire has some definite advantages, there are also significant downsides as well:
- There’s no support for Android platforms; the app can only be accessed on iPhone, iPad, or iPod touch.
- Moneyspire mobile companion apps aren’t particularly user-friendly, according to reviews.
- You may be required to pay bank fees to sync your accounts with Moneyspire.
- Moneyspire’s features are very similar to Mint, which is free. Mint actually offers some features Moneyspire doesn’t, including retirement planning tools and credit score monitoring.
Because Moneyspire comes at a cost when Mint doesn’t, it may make more sense to do the free trial of Moneyspire and then try Mint to compare. If you find Mint works just as well for you, there’s little use in paying $29.99 for Moneyspire — especially if you face difficulties with the mobile app or not be able to use the app at all if you have an Android device.
You should also check with your bank to see if you’ll be charged a fee for linking your accounts. You don’t want to pay a monthly cost just to use money management software, and if you’re not able to automatically link your bank accounts then the program becomes much more cumbersome to use.
Even if you manually import bank transactions, you won’t be able to effectively access many of the key services, such as balance forecasting, without linking to your financial institution. The functionality is significantly reduced unless you’d be willing to pay this additional fee.
With so many different money management programs out there, you should evaluate the features carefully to decide which program is right for your personal use. Although Moneyspire has some great features, including the ability to keep track of your bank accounts and see all your financial data in one place, paying for a software program to manage your money doesn’t always make financial sense — especially if you can’t or won’t use all the features.
Be sure to compare all your options to decide what money management software is best for you.