Budget Mania: Personal Capital Unpacked

personal capital

I downloaded this back in my budget-crazy days. For some reason, I had it in my head that I needed to look at my finances from as many different angles as I could – despite the fact that my finances were two dimensional and not existing on some astro-plane in another dimension or something.

While I still have the app for the “investment checkup” feature (for now – and I haven’t used it in months, actually), I deleted my main accounts earlier this year. It just wasn’t work for me.

For starters, let’s stroll over the good. The interface. It’s clean and uncluttered and easy-to-use. I didn’t have problems with my accounts not syncing or a bank I wanted to connect not available, so I never had to contact their customer service for anything. Speaking of sync times, they were pretty consistent, and it didn’t take just too long.

The investment checkup features is really unnecessary since I moved away from Fidelity. With Vanguard, I know what my fees are and how my portfolio breaks down. I’m sure all that information was available with Fidelity, but that site is so cluttered, I couldn’t find anything. So, this might explain why I haven’t been using the checkup feature of late.

Another good thing is that it seems to learn on its own. If I always categorize income as paychecks, it’ll file any income away as paychecks automatically. At least until I confuse it by labeling any money I get for Christmas as a “gift.”

So why exactly did I not find it useful? Let’s move on to the not so great, according to me. For one thing, the categories are extremely limited, and most of them are not even something I would use. Like “general merchandise.” If I’m looking over transactions later (assuming I could even see them since the app deletes most things after a month), I don’t know what the hell “general merchandise” is supposed to be. Since there currently isn’t a way to add categories, I always felt just a little annoyed with the app.

Another issue is that the desktop site can’t seem to remember my computer. Every month I would have to re-authenticate my computer. That isn’t a deal breaker by itself, but it was still very annoying. When it’s all said and done, with so many applications to choose from, along with the fact that I had my hands full, I made the decision to shift my time over to something that had more flexibility and required a little less maintenance from me.

Other installments in the Budget Mania Series: LearnVest Unpacked & Hello Wallet Unpacked.

Hi ^_^