When comparing Money Lover - Money Manager vs Monefy - Money Manager, the Slant community recommends Monefy - Money Manager for most people. In the question“What are the best personal finance tracker apps for Android? ” Monefy - Money Manager is ranked 1st while Money Lover - Money Manager is ranked 6th. The most important reason people chose Monefy - Money Manager is:
Monefy is extremely simple to use. Just tap either plus for a new income or minus for spending and then select the category for the transaction and your done.
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Pros
Pro Ability to add manual transactions
Money Lover is not connected to the users bank accounts. By not being connected that means users have to manually input (at least once) their recurring transactions or singular transactions..
Pro Useful graphs and charts
Money Lover offers the normal pie chart of your spending and also bar graphs to help you identify trends in your net income.
Pro Option to add details with each transaction
Similar applications to Money Lover only offer a few details to add when inputting a new transaction but Money Lover offers a lot more besides the normal category and title. Money Lover allows you to add notes, contacts, a picture, location, and reminders.
Pro Supports everyone
Money Lover is completely independent of all financial institution so anyone in any country can use Money Lover.
Pro Elegant interface
Elegant and user-friendly interface.
Pro No connections to your banking accounts or investments
Money Lover is completely independent of your financial institution. This is great for those that are worried about sharing their bank account details but of course this is less convenient.
Pro User friendly
Monefy is extremely simple to use. Just tap either plus for a new income or minus for spending and then select the category for the transaction and your done.
Pro Can be synced with Dropbox
There is no web application but Monefy can be synced with Dropbox to keep finances updated even without a phone. This feature is pro only ($2.48).
Pro Free without advertisements
Monefy is free without advertisements but there are some features reserved for Pro ($2.48) users such as: password protection, Dropbox Sync, adding new categories, and changing icons. Fortunately these features are not completely necessary.
Pro CSV export of data
Export (in CSV) actual data by 1 click to defined folder on SD card with defined name and defined period. It's quite easy to use it on a shared folder on a phone and customize data source in excel to upload this file.
Pro Secure
Monefy requires that all entries are added manually, so there is no need to give the app bank information.
Pro Support for everyone
Monefy offers support for any country because the app is completely independent of financial institutions. If your financial institution is not supported by apps such as Mint and BillGuard just use Monefy and switch the currency.
Cons
Con No budget for all wallets
You can't set one budget to all wallets. For example: if you have 9 wallets in your family, then you need to have 9 budgets for food, 9 budgets for clothes and so on.
Con Difficult to update debt
There is no guideline for updating debt. Every debt goes to the wallet including Mortgage Bond. When updating the opening balance of (for example) the Mortgage Bond, it appears in the bank balance as part of the total positive balance.
Con No import
Cannot import data from my previous app. Transitioning to Money Lover became a very time-consuming task.
Con You have to pay for icons
When buying premium, you should get all features. Unfortunately, you still have to pay for icons.
Con No support for credit card accounts
Con Basic app is free but with advertisements
The free version of Money Lover includes small banner advertisements at the bottom of the application. They aren't too intrusive but they can be annoying. Removing the advertisements is a $2.00 in app purchase. Getting the whole Money Lover experience requires an upgrade from the basic application to the premium application without advertisements and the ability to have more than one wallet, a budget plan, and an event plan for a $4.99 in app purchase.
Con Poor web-support
There is almost zero support on the website. There are no details to guide through sync process. Other apps allow simple sign-in sync, but this needs a 3rd party Dropbox. It's over complex for what it is.
Con Budget information must be inputted manually
Transactions are added in the form of notes; first the amount is added, and then the category. It is a quick process but it can become tedious, especially if multiple transactions have been missed.
Con The website is as clear as mud
The language is so vague there is little app help, nor is it clear what you can or cannot do with either the Pro or free version.
Con No web login
There is no webpage login to see your expenses from computer.
Con No automatic exchange rate
Con Numeric passcodes only
No alphanumeric passcode feature available.
Con The iPhone version is missing some features
Compared to the Android app, the iPhone app is missing budget mode and some languages.