Moneywell is a new budgeting software program that is offered by Nothirst.com. This software is currently only available for Macs. It is an innovative twist on the enevelope budgeting system.
Guide Review
Pros:
- Excellent user interface
- Easy to track expenses
- Easy set-up
Cons:
- Allows you to overspend
- Difficult to find an error in reconcile mode
This is a new product available to Mac users. It offers an unique twist on the envelope budgeting system. It offers a very visible tracking plan, which include buckets for each category that will tip over once you have reached your limit. It also allows you to easily transfer money from bucket to bucket. This is a marked improvement on the competitive Budget software that is offered by Snowmint.
It is easy to set up your monthly budget and transactions. The program is very flexible and it is easy to adjust the amounts each month for both your income and spending. It allows you to plan the month out, which is key to having a successful budgeting program.
Moneywell also offers the ability to reconcile your checkbook with your bank statement. You can track multiple accounts, and pull money out of these accounts to track your overall spending, and to ensure that you stay on budget. It will track money that comes out of your credit card account. You can then pay your balance off in full.
If pulling money out in cash has been a problem in the past, Moneywell has a cash tracking feature. This feature allows you to record your cash spending and take the appropriate amounts out of your budget categories. This will prevent you from overspending without realizing it and help you spot your trouble areas.
There are several excellent video tutorials to help you understand the set up and in and outs of the program. The customer support is great with a good user forum available at the website. Emailed questions are generally responded to within 24 hours.
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