Believe it or not I am married to an accountant, so money management has been drummed into me since we got married nearly 20 years ago.
Since becoming a mum and living off less money, management of what we have has become so much more important. Having a clear view of what we have and what we don't have has been key. In the past I have used a spreadsheet, which is clumsy and also relies on both of us updating the information.
For the last month or so I have been using Money Dashboard to get a true view of our financial accounts from one "money dashboard".
In very basic terms this gives you somewhere to consolidate all your financial information and get a clear, up to date view at any one time.
Is it Safe?
At first supplying all my financial information to Money Dashboard worried me, but they assured me that my money is safe as it is a read-only application, which means it cannot be used for withdrawals, payments or to transfer your funds and they use the same security practices as the world’s leading bands. They use an extended validation security certificate with 256-bit encryption.
How it works
Money Dashboard is a central hub for managing all our financial information. It allows you to keep an eye on account balances and keep tab on your spending, even if you are abroad. It allows you to collate all your online bank accounts (savings, credit cards and current accounts) in a single platform, with one password needed (which is great for my password heavy life)!
How can it help me budget?
By automatically putting your spends in to groups such as household, which can then be subdivided into things like electricity, it gives you the ability to see where you are spending your money and even better than that it gives you charts (as a visual learner I like this) and graphs showing you an overview of your spending, past and present and can even predict your future spending patterns based on this.
How much does it cost?
Nothing, it is a free service and I for one think it is great.