Indian people are known for managing finances on their own. But recently an US personal finance major has entered Indian subcontinent with its money manager software named Intuit Money Manager and I belong to the cadre of people who are poor at managing finances. After seeing this product and reading many of their testimonials, I finally decided to get a one year subscription of the Intuit Money Manager.
At the time of first login, I was really amazed with the user interface and the number of banks it covered. It has two versions, one for high bandwidth users where the quality of charts were high as compared to low bandwidth version, AJAX gave this web application an extra kick with ease in navigation!
Did some browsing and later added all my accounts (Credit Card Accounts and Bank Accounts). For this all I had to do was to log into my bank within their interface by using my NET ID’s. At the backend the system will link my accounts to money manager ID.
After adding all the accounts, for the first few days I thought that it may to be due to technical knowledge gap. Every time I login it will show me an error message stating you have to refresh you accounts to get the updated balances.
Secondly, there is not even a single button to refresh all the accounts at one go. I had to sit and give at least thirty to forty minutes only for refreshing balances believe me it’s really a tedious process. On the other hand Refresh will not guarantee that it will update your balances. There were instances where I was prompted to raise an issue with their customer support.
Times when refreshing was successful there was another part to it, segregating all entries into categories which will take at least twenty more minutes.
Last but not the least, this service is only accessible through Money Control. First the user has to login to the portfolio section of Money Control, after logging into portfolio section we have to browse to the end of the page to access the intuit money manager. Once you click on the link then again you have to enter the intuit money manager password.
Overall I was really upset after using this software; two months have passed already where I was not able to use the service to its fullest. So at the end I have stopped using this service and started using excel template to manage my expenses. I think Microsoft Excel is far better than Intuit money manager.
I will wait for the intuit money manager team to improve this product and will definitely try if it becomes more robust and easy to understand.