Boonzi – Take Control of Your Personal Finances

Boonzi – Take Control of Your Personal Finances
5 (100%) 2 votes

Over the past years, I tried several personal finance managers to try control my expenses. My requirements were very tough. The application shall respect the following requirements:

  • Multi-platform compatible (Windows, MacOS X and iOS).
  • Synchronous between platforms
  • Encrypted storage
  • Support multi currency
  • Import data from any online banking
  • Monthly reports and budget system

It wasn’t easy. During that time it was clear to me that while no alternative solution is perfect. I found several applications but they do not met on my requirements.

Tired of old and classic interfaces, tired of lack of user experience.

I got to move forward until I found Boonzi
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Installation

Yes, it’s true. The Boonzi is fully compatible with Windows and Mac. It supports Windows 8, 7, Vista, Server and XP and MacOS X v10.6, v10.7 and v10.8.

Download trial – here

For premium features, you need to purchase a license.

Configuration: Initial Launch

1. The first login on Boonzi, it is required to set up your account: first you will need to assign a name to your profile and later define currency for your transactions. A file with your profile name will be raised on your system and it is something that annoys me but I can live with that since the data is encrypted. Click next.
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2. Hurray, data encrypted. Set your password and click Yes. So far so good.
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3. Boonzi allows you to pre-fill with entities and categories according to your country’s categories.
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If you click to “See entities and categories”,
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Your application is ready for the customization. Let’s start!

Configuration: Configure your accounts

4. Write the name of your account and the balance in the specified date. My suggestion is to create one account for each bank account. I got several like savings,monthly account, incoming account,etc. You should supply your account balance at 00h01 of the date you have chosen. Later, while entering transactions before and after the indicated date, Boonzi will update correctly your account balance.  The option “Exclude from budgets”,  excludes all the transactions in this account in budgets.

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5. You account has been set up and it’s ready for your transactions.

Configuration: Migrating Data

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Are you tired of register your transactions one by one? Aren’t secure about the privacy of your data when you let your app connect to your bank? Forget about it! It’s time to embrace the future. It’s simple and easy, just copy and paste. The best feature ever!

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Ok, select to copy from your online banking and click Next.

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Here’s where the magic happens. Log in to your account banking using your browser. Using the mouse, select your transactions skipping the headers and click right button to copy the content. Then click “Import”.

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Then it will be requested to assign each column a header (value, description, etc) and later it is required to assign a category. Here’s where the automation starts. Boonzi learns with you and automatically classifies your transactions. And with just one click, your statement is imported into Boonzi. Voilá!

Note: You can always convert your excel file to csv to import your old data to Boonzi as well.

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Features

1. You can get a global picture of your current financial position.

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2. Control your cashflow across the months.

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3. Get an overview of a specific month.

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The Good

1. Easy to import data from your online bank account and categorization is assigned automatically.
2. Create monthly budgets and control my expenses.
3. It’s multi-platform. (used on my Macbook, my job laptop which is a Windows and my iPhone )
4. Got pre-built reports.
5. It’s multi-language and multi-currency. You can create transactions with different currencies and boonzi converts to your currency.

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The Bad

1.The data is stored in cloud (where?) and it is assigned to your license. If you share your license with your friends, they will get access to your account. Keep it personal.
2. Still not getting how to correctly insert my incomes and be all clear in the budget panel.

Conclusion

Boonzi is a winner. It’s easy to configure, multi-platform and user-friendly. I can take control of my expenses easily and keep data updated in 2 minutes by exporting data from my online account.  I experienced several financial applications and 10 minutes later I was erasing them. I swear that I tried to use them and couldn’t get my data updated. Import one transaction by time is ridiculous, such nineties feature. None of them got such an import capability as boonzi. I’m in control now! Go get your savings back.

As alternative you can use an excel worksheet.  It’s fully customizable and multi-platform but you can’t copy the data so easily from your online banking as boonzi.

 

Hope you find it useful.

See you next post,

Rafael

 

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