Best personal finance software for SA users - your opinion?

[jondo_h]

What's the best personal finance software for managing one's finances, with accounts both local and overseas? By that I mean, importing your transactions automatically, keeping track of balances etc.

I've been using iBank (now called Banktivity) and it seems to be really good, but I have concerns over the way they manage login credentials for all your accounts. They seem to store them in the cloud and albeit encrypted, that's still concerning to me.

There are a lot of good programs out there, but I don't find many that can interact with local banks, etc. What's your personal preferences?

 

[plod]

I don't fee comfortable storing bank logon details at all unless I can make a read only account at the back and it seems a few SA banks are way behind with that.

I am manually importing statements into "Pastel My Money" but I don't have any overseas accounts

 

[plod]

I agree it is quick but if I had more than 2-3 accounts to import it would be a bigger hassle

 

[shooter69]

www.22seven.com Made by old mutual and is Free. Interacts directly with banks and most accounts like Edgars and even Easy equities..

 

[jondo_h]

www.22seven.com Made by old mutual and is Free. Interacts directly with banks and most accounts like Edgars and even Easy equities..

That *does* look interesting. Thanks, I wasn't even aware of them. Will take a look.

 

[Coasti]

That *does* look interesting. Thanks, I wasn't even aware of them. Will take a look.

Only drawback with 22seven,the last time I checked is that you cannot account for cash received from someone, only what goes through your bank account.

 

[Kosmik]

YNAB - You need a budget. Bit manual but easy to use and maintain.

 

[Suspect99]

Question about 22seven. If by any chance you get defrauded through any channel, can the bank refuse to take responsibility as you have given a third party app access to your account?

 

[InusB]

With FNB you can create a secondary "view only" account. This way there is no risk to 22seven being able to transact on your accounts.

 

[Suspect99]

With FNB you can create a secondary "view only" account. This way there is no risk to 22seven being able to transact on your accounts.

I'm with Standard Bank though

 

[jondo_h]

YNAB - You need a budget. Bit manual but easy to use and maintain.

I've previously tried YNAB, and I could never quite get my head around it. There was something around the balance going into the next month that I couldn't adjust and it was just not flexible enough for me to fiddle to suit the way I manage my finances. I appreciate that YNAB do advise that you adjust to them rather than the other way around, which according to the testimonties was a reasonable argument, but it wasn't ideal for me.

Banktivity in contrast I can adjust, and also has a 'budget' feature to it. I just wish it would also *not* store credentials 'off-site' so to speak.

 

[jondo_h]

I've been using MS Money for 20 years.

It doesn't interact with banks anymore, you have to download the statement and money will import it.
So its about 5 minutes of work whenever I do my weekly update.

Yeah, I used MS Money back in the day and it was actually great. I'm now on a Mac though, so that's not an ideal solution for me anymore.

 

[Claymore]

Pastel MyMoney. https://www.pastelmymoney.co.za

 

[JSmit]

I think "best" has a lot to do with the user and their needs, but this list has a ton of options so I'm sure one of these will suit your needs: https://www.directaxis.co.za/topics-tips-tools/21-best-free-online-financial-courses

 

[KleinBoontjie]

www.22seven.com Made by old mutual and is Free. Interacts directly with banks and most accounts like Edgars and even Easy equities..

Acquired by Old Mutual in 2013.

I've been using this for almost a year now, I can't say I like their output. It's very confusing. Though, it's probably because the state of my money is so "deurmekaar".
One thing I like a lot, is they tell you your "Net worth". Makes me feel like a Celeb......and makes me more concious of my spends. I must say, since opening 22seven account, I've become more stingy.

My net worth is still in a minus , though, but I'm getting there.

 

[boeriebuffet]

I'll feel very uncomfortable having my accounts linked to a 3rd party's software. Good old Excel for me!

 

[Foxhound5366]

My net worth is still in a minus , though, but I'm getting there.

Lol, you and me both, buddy. May I one day be as "rich" as the beggar on the street, and see a positive net worth in 22Seven

 

[Thor]

Goodluck using pastel MyMoney with Capitec

 

[Thor]

Or any app for that Matter, Capitec may be the best bank there is, but it still has a long way to go regarding integration and it's own app.