Moneydance Review 2023

Jeremy Biberdorf By: Jeremy Biberdorf Mar 01, 2023
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4.4 rating based on 5 ratings

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In a nutshell: Moneydance is a financial software that lets users track and manage their finances with ease. Although originally Moneydance catered to Mac users, it’s also available for Windows and Linux at the same price.

With an easy-to-use interface and a comprehensive set of features, Moneydance has become a popular option for money management. While it might look slightly intimidating, it’s an intuitive platform with a fairly easy learning curve.

Moneydance has helped many people manage their money, but is it right for you? Keep reading for a comprehensive review so you can see if Moneydance aligns with your needs and preferences.

$65.00 | All versions
(Max OSX, Windows, or Linux)
Save 25% with Coupon Code MODESTMONEY

Moneydance App Screenshot

Pros & Cons
  • Comprehensive and intuitive platform
  • Competitive pricing and one-time fee
  • Free demo version
  • Money-back guarantee (90 days)
  • The dashboard can feel a bit crowded
  • Importing issues are not uncommon
  • Customer support may be slow

Moneydance Review 2023 | Is Moneydance Right for Me?

With so many budgeting tool software apps and websites out there, you may wonder if Moneydance is the best option. Ultimately, it helps to know what your needs and preferences are so you can determine if Moneydance is right for you.

Moneydance offers a comprehensive budgeting program that will meet the needs of most people. You can track much more than just your budgeting, with investment tracking, currency conversion, and other useful features.

A competitor like Quicken (Quickbooks) charges a subscription fee, whereas Moneydance charges a one-time fee. Depending on your preferences, this may help you decide which one is better for you.

Read on to learn more about Moneydance, including how it works as well as its key features.

External Moneydance Review & Ratings

Apple App Store4.6 from 263 reviews

How Does Moneydance Work?

A great thing about Moneydance is that you can try it for free before committing to a paid version. So, you can download the software with no risk to see how you like it.

After 100 transactions, however, you will need to purchase the software for a one-time fee of $65.00 to continue using it.

Moneydance is different from many budgeting apps and sites in that it uses open-source API. This is neat because you can develop custom extensions and add new tools to the software without having to pay any more money.

Overall, Moneydance provides a comprehensive platform. Your dashboard contains all your finances, from budget spreadsheets and investments to savings and any other assets. You can even pay bills right from the app.

To get started with Moneydance, simply download it for your operating system (MacOS, Windows, or Linux). While there are now apps for iOS and Android, Moneydance works best for desktop use.

Moneydance Features

Moneydance offers its users many useful features, including the following:

  • Summary – Moneydance’s summary page is a great way to get a quick overview of your financial situation, from bills and loans to your net worth and investment performance. With just one page, you know where you stand, and the ability to add to the calendar is a great feature.
  • Graphing tool – Many of us are visual learners, and it’s helpful to be able to generate different kinds of graphs for different purposes. Moneydance makes it super simple to create preset and customized graphs.
  • Bill pay – One great feature of Moneydance is the ability to pay your bills through Direct Connect (the same program used by Quickbooks).
  • Payment reminders – Missing bill payments is a great way to get hit with fees and/or interest as well as lower your credit score. Moneydance can send you upcoming bills reminders which makes this much less likely.
  • Budget reports – The ability to generate budget reports through Moneydance is a helpful feature. You can create budget reports as well as investment reports, whether you want to see reports on your account balances, budgeting, cash flow, income and expenses, capital gains, etc.
  • Track investments – Moneydance makes tracking your investments (and investment performance) easier than ever. You can quickly see your total portfolio value as well as the performance of individual investments and securities. You can even track CDs, mutual funds, stock splits, and many other investments that other money management apps do not.

Moneydance Pricing & Plans

Many software programs these days offer a subscription-based service. Moneydance competitor Quicken (Quickbooks), for example, charges an annual fee.

Moneydance, on the other hand, charges a one-time flat fee of $65.00. This means you’re not on the hook each month or year, and there’s also no upselling.

You can even try the software for free for 100 transactions before committing to buying it.

Moneydance Security & Integration with Financial Institutions

Security & Privacy

When it comes to managing your finances, security is a top concern. Moneydance takes security seriously and implements several measures to ensure the safety and privacy of your financial information. It uses strong encryption methods to protect your data, ensuring that only you have access to your information.

Additionally, Moneydance does not store your data in the cloud, which means your financial information is stored locally on your computer. This approach provides you with more control over your data and reduces the risk of unauthorized access.

Integration with Financial Institutions

Moneydance supports integration with thousands of financial institutions worldwide, allowing you to sync your financial data directly from your bank, credit card, or investment accounts. This feature makes it easier to track and manage your finances in one place, ensuring that your financial data is always up-to-date.

The software uses Direct Connect, a secure and widely adopted protocol, to communicate with online banking financial institutions. This protocol allows you to download transactions and even initiate bill payments directly from within Moneydance. It’s important to note that some banks may charge a fee for using Direct Connect, so be sure to check with your financial institution for any additional costs.

Automatic transaction categorization is another useful feature offered by Moneydance. When you import transactions, the software automatically categorizes them based on your previous categorizations or the built-in default categories. This feature helps you stay organized and makes it easy to track your spending habits over time.

Custom Extensions & Community Support

As mentioned earlier, Moneydance uses an open-source API, allowing developers to create custom extensions to enhance the software’s functionality. This means that there is a wealth of community-created tools and add-ons available to further tailor Moneydance to your specific needs.

The Moneydance community is active and supportive, with forums where users can ask questions, share tips, and help each other troubleshoot issues. The company also offers email support, although response times may vary. Nevertheless, the active community and wealth of resources available online make it easier for users to get the most out of Moneydance.

Who is Moneydance Best For?

Moneydance is a versatile personal finance software that can cater to various financial needs and preferences. Understanding who can benefit the most from its features will help you decide if Moneydance is the right choice for you. Here are some groups of people who may find Moneydance particularly useful:

  • Comprehensive budgeters: Moneydance is an excellent choice for those who want a complete view of their financial situation. The software allows users to manage their budget, track investments, pay bills, and monitor account balances all in one place. If you’re looking for a holistic approach to managing your money, Moneydance could be the perfect fit.
  • Users seeking a one-time payment option: Unlike many personal finance apps that operate on a subscription basis, Moneydance charges a one-time fee of $49.99. This can be more cost-effective in the long run, especially for users who are not interested in paying a recurring subscription fee for similar services.
  • Investors: Moneydance’s investment tracking features set it apart from many other budgeting apps. If you have investments such as stocks, bonds, mutual funds, or CDs, Moneydance can help you keep track of your portfolio’s performance and even integrate with your brokerage accounts for real-time updates.
  • International users: Moneydance supports multiple currencies and exchange rate updates, making it an ideal choice for people with accounts in different currencies or those who frequently travel or conduct business internationally.
  • Privacy-conscious users: Moneydance stores your financial data locally on your computer, rather than in the cloud. This feature may appeal to users who prioritize data privacy and prefer to maintain control over their financial information.
  • Tech-savvy users and developers: With its open-source API, Moneydance enables the creation of custom extensions and tools to expand its functionality. This feature may attract tech-savvy users or developers who want to customize the software to meet their specific needs.

Is Moneydance Worth It?

Moneydance is a great money management software that will cover the needs of most people. It’s comprehensive and easy to use, although there is a bit of a learning curve at first.

One great aspect of Moneydance is that you can try before you buy, and the purchase price is relatively affordable and a one-time fee. This helps set it apart from some of its competitors.

That said, many personal finance apps and websites offer solid free services. So, depending on your needs and preferences, you may not need everything Moneydance offers.

Moneydance Review – Final Thoughts

Moneydance offers a comprehensive and feature-rich platform for managing your personal finances. Its competitive pricing, one-time fee, and robust security measures make it an attractive option for those looking for a budgeting and money management solution.

While it may have a slight learning curve and occasional importing issues, its powerful tools, financial institution integration, and active community support make it a strong contender in the world of personal finance software.

Give Moneydance a try and see if it meets your financial management needs. With the free trial and 90-day money-back guarantee, you have nothing to lose and potentially a lot to gain in terms of financial organization and control.

To check Moneydance out for yourself, click here so you can see if it’s the right option for you.

Save 25% with Coupon Code MODESTMONEY

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Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. After working many years in the website marketing industry, he decided to take on blogging full time and also get his finances headed in the right direction. Also check out his contributions to and Benzinga.

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