How about if we apply that old saying to Intuit’s revived Quicken for Mac? You remember Quicken, right? It once shipped with each new Mac. Then Intuit abandoned the Mac. Then Intuit came back with a lame replacement with few features than the older Quicken. Here’s a way to say goodbye to Quicken and save money, too.
Money Wiz, Gee Wiz
I just did a quick check on the Mac App Store to see what’s changed regarding money management apps. Nope. The world hasn’t changed much.
iBank still has the best ratings and more features than Quicken for a far lower price tag and growing name recognition that is highly deserved.
The newest Quicken became an Editor’s Choice but not necessarily the Mac user’s choice, as ratings remain abysmal.
For Mac users on a budget who want to avoid complexity and Quicken, there’s the more highly rated MoneyWiz app for the Mac.
This cleverly designed app takes a slightly different approach to money management than the aforementioned and more expensive apps. You still get accounts, budgets, and bills, plus plenty of reports to track expenses and income over time.
For me, there are a number of basics which set MoneyWiz apart from the more complicated and feature laden competitors.
First, there’s the attention paid to the basics of accounts, budgets, bills, and reports. They’re actually easy to setup and use. For accounts, setup of credit card, checking, savings, even loan accounts or online banking accounts.
For budgets, transactions can be automatically assigned to a specific budget, but MoneyWiz is simpler to use with and old favorite– envelope budgeting. Digitally, of course.
Bills can be listed on a calendar so you get reminded when a payment is due. The Dashboard makes it a one-click way to see where the money went, or why you have too much month left over at the end of your money.
MoneyWiz handles multiple currencies, plenty of categories, bill reminders, and is password protected with a PIN timeout feature built in. Here’s what sold me. There’s an iPhone and iPad version (also uses Touch ID for security). Take that, Quicken!
File syncing between devices is proprietary. MoneyWiz can also import most data from other apps; CSV, QIF, OFX, QFX or MT940. Not a deal breaker for me is the extra cost Online Banking option which is subscription based.
MoneyWiz is arguably much easier to setup and use than Quicken or iBank, but still has plenty of the features most of us need (no, it won’t monitor your 401k or stock portfolio), but comes in at one third the price of Quicken’s latest and greatest.