Moneywell is a product of No Thirst which has created a number of software programs. What started out as a way to simplify personal finance management in 2006, ultimately turned into a platform that helps users manage their budget and get out of debt. Their software is both easy to use and simplified for the most basic of computer users.
- Envelope-budgeting system
- Great budgeting features
- Easy to track
MoneyWell, a product by NoThirst, is a personal finance software that essentially helps users increase their overall net worth and wealth while simultaneously reducing debt. This action is performed by incorporating the proven envelope-budgeting system all displayed through the MoneyWell interface. Debt is oppressive, and getting out of debt can prove to be a real challenge (especially for those struggling with spending impulses). MoneyWell helps take the stress and worry about covering expenses with their organized system.
Regardless of what operating system a user decides to use (Ma, iPad, or Mobile), there are a number of features found on each program that help with budgeting. Users will need to actually download the software onto one of their devices in order to use it. With each platform, here is what a user will have access to upon download:
- MoneyWell for Mac: event-based budgeting, refined interface, visuals for budgeting and banking, spending reports, unlimited "smart" filters, and currency support
- MoneyWell for iPad: displayed finance charts, quick visualization impressions, secure sync between devices, and free for a single account
- MoneyWell Express: fastest way to capture purchases, see your budget anytime from anywhere, background sync, spending history, free for a single account
While MoneyWell was designed to help those who have taken on some, or even a considerable, amount of debt, their system and services are something a majority of consumers can benefit from. Their process is simple and a user can go through step by step to make sure the software benefits them as much as possible. Here is how the MoneyWell system works:
- First: Fill you expense buckets when you get paid
- Second: Assign your spending to buckets
- Third: Stop spending when your buckets tip over
The MoneyWell creators have found that staying on track is much more simple when a user can actually see what is being spent and how debt is being reduced. Ultimately, this action will increase savings while chipping away at overwhelming debt.
- Budgeting tool exclusively
- Limited features
- Not a SaaS
MoneyWell is a budgeting tool, and as such, it does not incorporate a number of other features commonly found on personal finance management software. If budgeting is all a user is concerned with, then MoneyWell will likely cover all bases. However, users looking for a more comprehensive management platform will need to look elsewhere. Features not included in the MoneyWell software system include:
- Investing Tools
- Retirement Plans
- Financial Export Tool
The MoneyWell software is not SaaS compatible. That means that users will not be able to log onto a browser version of the platform through their computer or mobile device for access to the platform. Users will need to actually download the software on their computer or mobile device in order to see their finances and track spending.