Monefy: A product Review

Using a checkbook app seems obvious — keep track of purchases in close to real-time, as you can in Monefy. But what people miss is the ability to analyze your spending. Find a checkbook app that helps you examine your spending habits, and you could save some bucks! 

Many checkbook or money register apps on the Internet can make your life easier and save you money. This product review addresses the money app Monefy.  

Convenient Transactions

The Monefy approach makes recording transactions fast and convenient from your smartphone and organizes expenses in categories. For many people, simpler is better, and Monefy offers a simple interface and easy input to record personal finance transactions. 

Monefy effectively uses the smartphone’s screen to deliver your financial picture by assigning icons to categorize your spending habits. And you can easily change the viewing criteria from daily to weekly to monthly to annually, showing you how you spend your money. The data fits perfectly into your budget picture.

So if you have a question about a particular day, month, or year’s finances, you can quickly access the data on Monefy. This provides convenient, hands-on information about your spending and empowers users to make wise financial decisions. 

Monefy and Spending

Consumers don’t always recognize when they’re caught up in a critical driving force in our economy like spending. It’s nice to find tools to help ordinary people step out of the slipstream of this driving force and moderate their spending. Reflect while you’re in line at a fast-food restaurant on the following: 

1. Am I spending for spending’s sake?

2. Or am I in line because I’m living hand to mouth?

The Money App can show you your spending behavior. 

Monefy and Spending Patterns

Like many check register apps, Monefy is good at exposing spending patterns, something being predicted by marketers in as short a time as the coming week. If you bought ten meals at the trendy coffee shop last week, the assumption is that you’ll buy as many meals this week at the same place! If you reduced all your spending patterns to predictions, you could contradict your spending habits and save bucks! The app Money empowers you to do this.

Suppose you subscribe to 10 streaming services every month. In that case, it might surprise you how much you spend after you’ve looked in Monefy at the entertainment expenses. Indeed, you may unsubscribe to three or even five services. There’s plenty of free television [insert an internal link here] on your streaming stick, so you could unsubscribe to them all! As you start cutting expenses, your money will grow immediately. 

You’ll find the Monefy app on Google Apps or at the Apple Store, and the download’s easy. You’ll be recording everything you spend in a short time. 

Syncing Issues

You must record everything manually; Monefy won’t sync with your bank’s checkbook or credit card company. This enhances the security of your banking institutions, which many consumers want in a check register. Still, if you like to sync your check register to your bank, you’ll be out of luck with Monefy. You’ll have to save and record receipts. The input process is superior to entering the data at home on a spreadsheet. 

Monefy offers a paid Pro and a free version. Start out with the free version because you may find it’s all you need. First, there are no obnoxious ads to interrupt your experience. Secondly, Monefy gives you 15 icons depicting spending categories, and that number is adequate for many budgets. Some consumers find the interface rather blasé, but it serves its purpose. On the other hand, the free version can be limited if you use it for small businesses. 

Transfering Data

In addition, you can save and export your account to a spreadsheet in a CSV file in the free version. A personal finance manager can open this. I use Skrooge, but I have to move columns around the CSV file to match up with the format in Scrooge’s interface. On the other hand, you could just open it in a spreadsheet and create your finance manager program. It’s a simple enough procedure. The file export option is available in both the free and Pro version. 

If you want to customize your icons and categories and sync them with an app in your Dropbox account, that requires a Pro account.

Monefy: The Pro Version:

1. Unlock all the features in the application.

2. It allows you to create categories represented by icons like expenses related to your gas bill, represented by the picture of an oven. A thermometer represents medical expenses. 

3. Syncs your app to multiple devices, so you’ll be able to look at your spending on your tablet as quickly as on your smartphone. If you sync it to your Google Account, you’ll have to open the file on your desktop. Still, unless you want to pay for an app like SmartSheet, you may want to open the CSV file in the money manager discussed above. 

5. A Pro account syncs to your Dropbox account. 

The Free Version, Just to Reiterate:

1. The categories are limited to 15, enough for most personal finance budgets[insert internal link].

2. You can add several accounts without trouble, but you can’t work in different currencies without the Pro version.

3. While you can’t synchronize Monefy to your Google Drive or DropBox in the Monefy free version, you can export your activity to a spreadsheet file. Assuming your money manager app can go mobile, you can access it as easily in the free account across multiple devices. 

Bottom Line

So, is the pro version of Monefy worth it? At $1.63 a month (paid annually), the Pro version may look attractive to people who use all the app’s features. The hiccups with syncing may discourage users. This simple check register app is geared to aiding personal finance, and the free version is the place to be. If you want more, keep exploring check register apps. 

This blog was originally published in 2021 and has been slightly edited.

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