Personal finance app Moneyhub has recently been updated – I’ve tried out the new version and here’s a quick overview for you.
The new version of the app looks more refined, with an attractive turquoise blue interface. You can use it on your laptop or desktop computer, smartphone or tablet.
It connects all your financial accounts for viewing in one place, giving a snapshot of net worth and allowing detailed monitoring. Occasionally it classifies some spending into an incorrect category, but it’s easy to reassign. You can also use it to set spending or savings goals.
More about Moneyhub
- Bank level security, with username, password, and PIN for smartphone and tablet versions
- Provides monitoring, analysis and planning
- Does not allow money to be moved around within the app
- Connects current accounts, savings, pensions, investment platforms, credit cards etc
Who is most likely to benefit from this app?
Moneyhub offers a convenient way to view all of your finances in one place in return for a small monthly fee, which could be especially appealing to anyone who’s time poor but financially solvent.
In particular, the ‘net worth’ snapshot is handy for anyone who’s striving to increase their general level of wealth, and it could be very motivating for someone who’s trying to build up a nest egg of savings, for example. Particularly good if you’re into setting goals and targets, and trying to push yourself to do better.
The monitoring functions of the app can help you quickly spot any unusual activity in your accounts too, as it shows up unusual spending or other activity from the home page and at account level.
If you’re a low-level armchair investor or have more significant investments, Moneyhub can also help with creating an overview of how these are faring, which could be useful during times of stockmarket opportunity or turmoil.
And finally, as pensions are very much in the news at the moment, it could be a motivational tool for anyone who’s hoping to take early retirement in the near future, or build up a decent sized pension pot.
Moneyhub is currently offering a free 7-day trial. The pay-monthly fee is £2.99, or an annual subscription costs £29.90.