What personal and business finance apps do you use?
I recently listened to IndieHacker podcast episode 150 with Jen (@lunchbag), the founder of https://lunchmoney.app (a great episode by the way). Jen and Courtland started talking about the downfall of Mint.com. As someone who recently left Mint, it got me thinking, what financial apps is the IndieHacker community using?
For personal, I recently switched to https://www.simplifimoney.com a new app from Quicken. I am going to checkout https://lunchmoney.app though it sounds like a promising app.
For Request It and FilmFed, my two side hustles I use the free https://waveapps.com.
What finance apps do you use for both personal and business finances?
Podcast Episode: https://www.indiehackers.com/podcast/150-jen-yip-of-lunch-money
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YNAB4 for personal budgeting. Although it is not perfect it has a very nice user interface and is simple and I have got used to it. I also like that I paid for it once and that's it!
how is it better than mint?
YNAB is simply different than Mint. I found Mint almost overwhelming, because (as @lunchbag points out in the podcast), it tries to do everything. We switched from Mint to Excel to YNAB, landing on YNAB about 5 years ago.
You could say that YNAB is highly opinionated. It is built around the envelope system of budgeting. Mint is completely open with (what seems like) no "best ways" of doing anything. I personally need the "best practices" that YNAB wants you to use.
I also think a huge difference between YNAB and Mint is that Mint is about tracking what you've spent and YNAB is about budgeting before you spend.
LunchMoney looks interesting and if we hadn't already established ourselves with YNAB, we would very likely be users of LunchMoney.
wow - thanks for the details!
this helps :D
I have not used mint, so I couldn’t say. But I wanted a solution that doesn’t connect to my bank.
Personally, I just use the Wells Fargo and my Credit Union apps.
For my business:
- Wells Fargo app
- Stripe
- Square(but I switched to stripe this year)
- Quickbooks Online (used mostly for testing the product as there is an integration).
I use Mint personally but I'm getting more and more annoyed by it. If I could pay for it and get rid of all the ads, I definitely would... I'm currently also trying out Simplifi. It seems very promising. Nice, clean UI, with no ads! At first it was immensely slow syncing transactions. But they seem to have fixed that.
For business finances, I just switched to Xero from QuickBooks. QB just kept increasing their prices... And there was no good Stripe integration without having to pay more for a 3rd party service. Xero comes with that Stripe integration right out of the box.
Hi Chris, thanks for the shoutout!
Nice to see Intuit exploring the paid space for personal finance and funny to see them also join in on taking some Mint market share 😂! (Side note, looks like Simplifi is only open to US users and doesn't allow a way to import transactions yet.)
If you run into any issues while trying out Lunch Money, feel free to give me a shout :)
To answer your questions, I use Lunch Money for my personal finances and I use Quickbooks for business since that's what my accountant prefers (although I would personally love to use something else...)
Loved the interview with @lunchbag
Chris I wonder what made look at wave? The free tier? Would you use something where you could also do forecasts and projections?
For IH'ers
What is your biggest problem with managing finances?
Hey @lunchbag any chance we will see a lunch money for businesses?
Thanks Naveen!
Re: Lunch Money for businesses... ahhh, great question. The answer is ... almost certainly not! I feel that business financials are a lot more complicated, the competition would be fierce, and I'd rather stick with B2C!
I choose Wave mainly just because it is free. But I have enjoyed it for the basic business accounting I need.
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I've used Excel for that before.