Moneytree – Promising New Personal Budgeting App

On the way home from work, I chanced upon this article featuring how this small Tokyo startup is getting funding from big Japanese banks — Mizuho, MUFJ, and SMBC, not to mention Salesforce, which is one of the world’s largest technology companies. This is notable news in Japan because Japanese banks are notoriously risk-averse, and this could be a good sign to the small entrepreneurs of Japan.

This startup is called Moneytree, and is actually a personal budgeting app for iOS. I am personally interested in personal budgeting applications and have been a heavy user for more than a decade now. I started with Microsoft Money, which I used to record my expenses on a PC back when I was still working for my first company.

The iPhone came and I have since then moved to an iPhone-based app called PocketMoney, which I really liked. Unfortunately, the developer passed away a couple of years ago, and the future of the app became a big question mark.

Tried hard to look for an alternative, and I then settled for MoneyWiz, which I have been using for more than a year now. It’s not as good as PocketMoney and the GUI is a little clunky, but at least there are regular updates and the support team is phenomenal.

Now after reading the article, I am ready to try Moneytree. Considering it is based in Japan where I live, and it has the backing of big Japanese banks, I think this would be a perfect match for me. I’m almost sure it will have the best support for Japanese bank and credit card companies.

I downloaded the app this evening and after a couple of hours playing with it, I am liking it already. Can’t beat auto-download of bank and credit card details, with the added bonus of of auto-download of mileage and point card details. Once it’s setup, it is a very low-maintenance budgeting app.

I will start using this app in parallel with MoneyWiz and decide later which one to keep. From what I am seeing now with Moneytree… it’s looking like it’s time to make that switch again. 🙂

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