top of page

Can you add a feature to automatically download my account balances and transaction history from my financial accounts?

One of the design goals of this app was to make this the most secure financial planner. There are some financial planning apps available for free or paid. Many have you supply your most important ids and passwords for your financial accounts to give you a single view of your current balances and transactions. Although this is helpful, you do not control how these companies store your passwords, the data they collect, and what they do with your data.
1. We found that most people will generally know their salary and balances of savings, investment and credit cards. Maybe not to an exact amount each day, but an approximate value, which is all that is needed. So adding these in the model is quick.
2. What takes more time is your monthly expenses. Simply downloading these from your credit cards, checking accounts, etc does not cleanly categorize the spending. For some expenses, let’s say a car insurance payment to Geico, we could easily categorize this as a Transportation expense. Where it gets difficult is where a retailer offers many products that fall across expense categories. Let’s take Target as an example. They sell Clothes, Household goods, Food, etc. So with each charge how would you split as the payment is difficult as the charge is not detailed coming from Target. It is better to manually check your spending in a specific category over the course of a month and then see if your expense assumptions need to be adjusted. In Calculator there is an Expense journal to allow you to track months of expenses and will summarize.

bottom of page