LAST UPDATED: October 28th, 2021
Moneyspire Inc. is a personal finance software company founded in 2007. Their offices are headquartered in Southern California. Their personal finance management software serves thousands of customers all over the world on six continents. Originally, Moneyspire was founded in an attempt to fill a need in the market for a comprehensive yet user-friendly software solution for money management. Their name is a combination of the words “money” and “inspire”which is essentially the Moneyspire mission: inspiring people to manage their money in more effective and meaningful ways.
- Comprehensive personal finance
- Great features
Moneyspire is a relatively comprehensive personal finance software that gathers all financial data and manages it in one place. With so many branches of finance (bank accounts, credit cards, etc.) it can be difficult to keep track of the money that is going in or being spent. However, the Moneyspire platform will allow users to balance their checkbook and then subsequently organize all transactions in an effort to visually display just where all income is going.
The capabilities of the Moneyspire platform is one of the most important benefits the service has to offer. Moneyspire has helped thousands of their customers see an increase in their savings account while also reducing debt and eliminating late payment (which subsequently improves credit as well). Current users have found the following services to be beneficial to their financial management:
- Bill Reminders: set reminders and see all upcoming payments so a bill is never late or forgotten again
- Budget: create a budget for all expenses and then keep close track of the progress to help stay focused
- Reporters: Moneyspire will generate detailed reports and charts so users can see exactly where the money is going (which also helps save time when reporting tax information comes around)
While Moneyspire may appear to be another typical budgeting app, there are a number of services offered that users will find helpful in their quest to improve the overall health of their finances. Specific features included in the Moneyspire platform are detailed as follows:
- Statements: Reconcile with your bank's statements to make sure every transaction is accounted for, and to prevent fraud and bank errors.
- Mobile: Use Moneyspire from a computer, tablet or phone. Stay on top of all finances with the Moneyspire companion app.
- Forecast: Forecast future account balances to help prevent negative balances.
- Importing and Exporting: Supports OFX, QFX, QIF and CSV file format imports, and exporting to spreadsheet and QIF file format, so you don't have to enter data manually.
- Charting: Generate detailed reports and charts and see exactly where money is going. Use reports to make tax time easier.
- Track accounts: Keep track of bank accounts, credit cards, etc. and see all account balances in one place.
- Transactions: Split transactions into multiple categories for super-accurate budgeting.
- Track spending: Categorize spending & income. Balance checkbook & see where all money is going.
- Online Banking: Optionally import transactions from your financial institution's website, and Direct Connect and automatically download transactions and pay bills.
- Investments: Manage your investments and download the latest stock quotes.
- Reminders: Set bill reminders and see all upcoming payments as to never forget to pay a bill again.
- Currencies: Supports all world currencies, and accounts with multiple currencies (including transfers between foreign accounts).
- Print: Print checks and optional check vouchers to make manual bill paying easy.
Moneyspire is compatible Mac OS X 10.7 or later (32 and 64-bit) and Windows XP or later (32 and 64-bit) on desktop/laptop computers. Additionally, the mobile app is compatible with both Apple and Android mobile devices. Users should check the accompanying app store for details.
- Not a SaaS
- Lacking information
Moneyspire is not SaaS (software as a service) compatible at this time. That means that users will not be able to log onto the Moneyspire website in an attempt to access finances. In order to see budgeting reports and charts, users will need to actually download the software onto their computer or mobile device. While this may create hesitancy for some, it is important to remember the following:
- Download is free
- Software is backed and secured
- Software can be deleted at any time
There is not much information regarding the actual systems and processes put in place to protect users' financial and personal data. While Moneyspire claims to utilize a secure platform, there are not necessarily any details provided as to exactly how that is done.
The Bottom Line
Moneyspire is a well-rounded personal finance management tool. It ranges in offering budgeting services to tax exporting to investment features. While some of the resources they offer may be basic, it is a balanced platform. Those that use Moneyspire as their personal finance management software can expect the following from the service:
- Comprehensive financial management tool
- Includes most financial tools and services found within industry
- Compatible with a number of devices
- Not SaaS compatible
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