A Review of MoneyWiz 2

Is Money Wiz a good option for you?
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MoneyWiz 2 by SilverWiz is a personal financial software program  that was originally designed specifically for Mac users. However, there is now a version available for Android users, and you can also install a Windows version on your computers. There should also be a version for the Apple Watch available soon. It communicates effectively between the computers and your other devices and offers a great live sync feature that you cannot find in other programs.

This is definitely an option you should consider if you are looking for personal finance software.

Pros:

  • The interface on MoneyWiz is easy to understand and user intuitive, especially if you are a real Mac fan.
  • The sync feature is the best I have seen on personal finance software and programs. The design is easy to use.

Cons:

  • It does not offer a place for you to set up to pay off your debt.
  • The transfers to debt accounts do not come out of the debt categories.

You should be able to purchase it from their site, from the App store or the Google Play store. One of the best features of this program is the live syncing feature. This is great if you are married and working on the budget together, because you can update on your phone while you are shopping, and you will see where you currently are. It makes it easy for both of you to check on your spending categories, and prevents you from overspending.

It is also safer than other programs that offer a syncing feature. In other programs, I have seen one file overwrite the other and erase any transaction that may have been recorded since the last sync. This will not happen with MoneyWiz, which can save you time and money.

Using MoneyWiz

This is a pretty basic financial software program.

You begin by setting up your budgeting categories in the preferences menu, and then the program takes you through how to add accounts and budgeting categories. This program allows you to enter individual icons for each category and for you to name the categories according to your needs. It is very appealing to design oriented Mac users, and fits in with the other Mac related software very well.

Entering individual items is not a difficult process, and the program learns the categories that common transactions come from, and then fills in the information for you. This can save you time as you enter in common transactions. It allows you enter your scheduled transaction by just clicking on repeat when you enter it in for the first time. This will save you a lot of time as you go through and do your budget in later months.

The reconciliation for the accounts is easy to use, which is really important if you want to stay on top of your accounts and your money. You can also download transactions from your bank to save time when it comes to reconciliation.

The budgeting aspect is easy to access, and you can visually check to see how you are doing in each category by scrolling through the budget section of the program.

On the computer edition, it is on the left hand side of the screen. Another great feature is the reports section that allows you to create graphs and charts of your entire budget or specific categories so you can track your spending habits and your budget progress over time. The reports are easy to use and it is nice to have a visual representation and be able to break the reports out by category. This is one of the best reports sections I have seen in Mac specific software.

Finding Technical Help for MoneyWiz

The website has a great help section that is easy to access and it is well organized. Additionally, it is divided into sections by device, so you can learn how to do each task in the device you are using. The basic interface is similar. This allows you to switch between the different devices you may use to complete your budgeting and account management easily.

You do not need to worry that you will have to learn three totally different ways of handling your money when you are using the system.

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