App Aims: Money Management Made Fun
Is there more month at the end of your money? Do you ask yourself where all your money went? Never fear, with moneyStrands you’ll know where every penny is spent. In our opinion, moneyStrands outdoes any competitor as a money managing iPhone or iPod touch app on the market. Our review of the Mint.com app left us disappointed about money management apps overall but moneyStrands has sparked a new hope. moneyStrands is definitely a personal money management app and not a business app you will find lots of customizable features to make it your own. Like any money managing app there is a mother web site connected to the app. To get started you have to visit moneystrands.com and create an account. Once there, a simple username, password and email address gets you signed up and ready to go. When you have created a user account you will be able to add bank accounts and credit cards by searching for the bank you want or manually imputing your banks’ information. moneyStrands for the iPhone or iPod touch is a simple front-end browser version of the main web site. The online site is very user-friendly and has a lot of features that make it easy to manage your money and the app makes it easy to access the information on-the-go.
Some features coincide directly with the mobile device. One is the Analysis page which shows a pie graph so you can visualize your expenses and income broken down into categories. You can view this information by last month, this month, the last three months and this year. One of the really cool features is that you can select a section of the pie graph such as entertainment, and the app will show you the amount spent on different types of entertainment during the time criteria you specified. If something doesn’t belong under the category you selected, simply select a new category for that expense and it will appear in its reassigned field. Overall this feature is very intuitive to use and understand and is very helpful in showing if you spend way too much on eating out and not enough on shopping and cooking yourself (we all fall into this trap) or any other problematic issues.
Another feature that goes hand-in-hand with the web site is the My Budgets page. You can set up budgets on the website according to your specific wants and needs; however trying to remember those budgets all the time is a little more difficult. With moneyStrands you will be able to see how well you’re staying within those budgets whenever you want and wherever you go. No budget would be complete unless you could see how well you’re doing. You can quickly see if you’ve gone over your budget in one area and are still under in another and make changes in your spending.
The last feature that ties into the main web site is the My Alerts page. On the web site you specify the types of alerts you want set and how you want to be informed of the alert. On your mobile device you will see a red exclamation point above the My Alerts button that will indicate you have an alert. Simply go into My Alerts and read the alert description to figure out what is going on. The web site also offers the ability to receive an alert email with a brief description of the problem. This feature is quite nice and works well with the auto update ability of the app.
moneyStrands is one of the more comprehensive personal finance apps out there in the market. When put head to head with its competitor, mint.com, we believe that moneyStrands is a more complete personal finance app and much more user-friendly. The one thing in our testing of moneyStrands that was a little weak was the overall budget capabilities. It’s great at giving you a snapshot of your finances or spending, but does very little to actually help you create a long term budget and stick with it.
If you are looking for an effective way to see where your money is going each month and set a simple budget that is easy to follow, moneyStrands is the app you want and need. Make sure to check out our music and movie download reviews as well as our other iPhone App reviews to help you get the most out of your iPhone.