🧁 What Do People Use Budgeting Tools For?
Common Use Cases
Categorization: What categories do I spend my money on?
Monthly (or Yearly) Recurring Costs: What are my recurring costs? I want to review all of my recurring costs and make sure I am using all of them. I think it is really easy to subscribe to stuff nowadays and it is nice to find things to cancel.
Cash Flow: What does my actual cash flow look like every month? Am I saving cash or spending it?
🍞 What Is The Market Like?
What is available for budgeting across multiple accounts?
Monarch Money: This is the gold standard. It costs $15 a month but has amazing features
Pros
Does everything above well
Cons
Costs $15 a month
Using an LLM: This is the newest thing. I am not sure about the costs and I should do a few more tests
Pros
LLMs are really smart and good with numbers
Cons
Cost, possibly
Not very well formatted
Could hallucinate
Copilot Money: I tried this out for just a little bit. I was able to connect to my accounts
Pros
UI seemed good
Cons
Costs $8 a month
Categorization left something to be desired
Rocket Money: Seemed solid
Pros
App is free
Strong at finding recurring monthly costs
Did well at categorization
UI is nice
Cons
Web access is $7 a month (requires premium)
YNAB: I could not figure it out
🥧 What Questions I Have For You
Do you care about budgeting at all?
What do you currently use for budgeting?
Something above?
Something for a single account, like the budgeting tools Chase offers?
What is important to you?
Until we bake again,