Spendee Review 2021: Budgeting Made Fun
Ever look at your end-of-month bank statement and think to yourself, “Where did all my money go?!” Did you follow that thought with an attempt to mentally calculate your expenses, even though you weren’t keeping track in the first place?
Well, you’re in good company, because we’ve all been there before.
The solution to this is a budget. Budgets allow the average person to closely monitor their spending habits to improve their finances and achieve their goals.
Thanks to fintech, budgeting apps are common and make the once difficult, arduous, or anxiety-inducing process much, much easier— and that’s where Spendee comes in.
In this Wealth Rocket article, we introduce Spendee, with a review of the personal finance app that can help you track your spending and plan your saving with heightened efficiency.
What is Spendee?
Spendee is a personal finance and budgeting app that allows users to track their finances using their mobile phone or computer to manage their daily expenses online. The app automatically syncs your expenses and allows users to track where their money goes. It also allows them to allocate better where incoming money is going.
How does Spendee Work?
Spendee uses the Track, Analyze, and Budget method to effectively take charge of your financial health.
The steps in this journey include:
Spendee also helps with:
How Much Does Spendee Cost?
Once you download the Spendee app to your phone and sign up, you can decide between three Spendee packages:: Spendee Basic, Spendee Plus, and Spendee Premium.
Fees: None Spendee Basic offers a no-cost version of the financial tracking application. This tier includes budgeting and requires users to manually input their expenses. It provides a detailed overview and comes with one complimentary budget and one complimentary cash wallet.
A less restrictive version of the Basic package, Spendee Plus offers unlimited cash wallets and unlimited budgets.
Spendee Plus offers automatic categorization, backup and sync, unlimited cash wallets and budgets, shared wallets with other Spendee users, import and export transactions, secured data, and a detailed overview of your expenses. Spendee Plus costs 22.99 per year.
Spendee: Participating Banks
Spendee allows its users to connect to more than 2,500 financial providers all over the world. Below, you can view which banks in the United States and Canada are applicable with Spendee.
Spendee Pros & Cons
Wealthsimple's advantages greatly eclipse its drawbacks. Still, it's important to assess whether or not the investment platform is a suitable fit. Like buying a pair of shoes, you want to make sure both feet fit perfectly and not just the left one.
Pros: The Good Stuff
Convenient, one device management of all your financial data, including cryptocurrency
User-friendly interface with colored infographic charts to visually represent and breakdown your spending habits
Customizable features- set up alerts to notify you when you have gone over budget or monthly reminders to pay your bills
Affordable and customizable for however you choose to budget
Option to connect multiple checking accounts, like a family plan but for your finances so you know who paid for what and how much was spent in total
Cons: The Not So Good Stuff
Cannot be synchronized with all bank accounts: It depends if the financial institutions allow Spendee to do so. If yours is left out, you will manually have to input the details of each transaction you’ve made. This is either a pro or a con, depending on how you want to track your finances.
Our Final Thoughts
Spendee is a great and customizable option to help keep track of your income and expenses, especially if you’re having trouble monitoring your spending habits and need help staying informed of where your money is going.
It is user-friendly, customizable, budget-friendly, and a pretty low premium allows you to sync your income and transactions for complete ease of use and accuracy, with no forgotten manual reports. It is an overall helpful resource for money management.
Frequently Asked Questions
Yes! Spendee is a secure and legitimate financial management app that uses the same encryption as your bank provider to keep your personal information safe. Users are also able to add additional security by setting up a 4-digit passcode.
Spendee also operates with all financial institutions in a read-only mode, which means you can check your account balance and see the transactions list. Still, you cannot initiate payments or change the account in any way.
That said, it is extremely important to take proper precautions when inputting any credit card or bank account information.
Make sure to review security levels, privacy statements, and password-protect your account. You should also avoid logging into your account while using unsecured public Wi-Fi.
Spendee makes money the same way most financial apps make money, from paid in-app products and services.
Spendee offers three tiers for its services offered at different price points.
The first most basic option called Spendee Basic is free but limits the user only to create only one budget and one wallet.
The other two options: Spendee Plus and Spendee Premium, include more features but come at a price.
Spendee Plus costs $14.99 per year and includes being able to create unlimited budgets and shared wallets.
Spendee Premium costs $22.99 per year and includes every feature offered and will automatically categorize your transactions, and it will allow you to synchronize your bank accounts.
Yes! Spendee is available for download on both Android at the Google Play Store and iPhone users on the Apple App Store.