This summary of the video was created by an AI. It might contain some inaccuracies.
00:00:00 – 00:13:27
The video primarily discusses the replacement of the Mint budgeting tool with an alternative app called Simplifi by Quicken. The presenter offers a comprehensive guide to Simplifi's features, which include creating spending plans, tracking regular expenses, using a financial calendar, and setting up financial goals. They emphasize the app’s user-friendly interface, designed for smartphone use, making it convenient for managing finances on the go.
The video demonstrates the app's sign-up process, which requires a credit or debit card and notes the subscription cost after a discount. Various functionalities are showcased, such as manual account data entry, net worth calculation, spending tracking, personalized budgeting, and setting up alerts for top spending categories. The app also includes features like linking bank accounts for automatic updates, generating detailed financial reports, and virtual coaching sessions.
Special attention is given to the net worth tracking feature, investment account tracking, and setting up savings goals. Although Simplifi does not offer investment tracking or credit score checks, it is praised for its low cost, simplicity, and user-friendliness, despite the lack of a free version. Overall, Simplifi is highlighted as an effective tool for personal financial management with a strong focus on ease of use and comprehensive spending tracking.
00:00:00
In this part of the video, the presenter discusses the end of the Mint budgeting tool and introduces Simplifi as an alternative budgeting app. They provide an overview of Simplifi’s features, such as creating a spending plan, identifying regular expenses, and offering a calendar for upcoming bills. Simplifi is highlighted as ideal for smartphone use, facilitating budget management on the go. The presenter then proceeds to demonstrate the app sign-up process, noting that it requires a credit or debit card for account creation, with an annual subscription fee of $23.94 after a 50% discount. They confirm the absence of a free trial before moving on to download the app.
00:03:00
In this segment of the video, the speaker walks through the process of setting up a financial tracking app. They log in and decide to manually add account information instead of connecting directly to their financial accounts. They input a fake amount of money to demonstrate how the app aggregates financial data into one platform, showcasing features like net worth calculation, spending tracking, personalized budgeting, and alerts for top spending categories. The app also offers personalized coaching sessions and helps set up a spending plan based on income, bills, and subscriptions. The segment highlights the app’s tools for comprehensive financial management and ease of use.
00:06:00
In this part of the video, the presenter demonstrates how to manage and track personal finances using a specific budgeting tool. Key actions include planning monthly expenses by entering income, bills, and other spending categories. The tool offers features like linking multiple bank accounts for automatic updates, creating watch lists to monitor spending, and generating various financial reports such as income, total spending, cash flow, and net worth. The presenter highlights the tool’s simplicity and ease of use, making it an efficient way to stay on top of personal finances.
00:09:00
In this part of the video, the speaker demonstrates how to use the net worth feature to track financial progress monthly. They explore various functionalities including the Investment section for tracking accounts and market data, creating virtual savings goals for planned expenses, and setting up notifications. They also review the settings menu where users can manage account details and customize the dashboard. They appreciate the app’s simplicity and summarize its cost, currently discounted to $2.79 a month. Finally, they discuss the pros (low cost, no ads, user-friendly interface) and cons (no free version, no credit score checks, limited investment features) of the app.
00:12:00
In this part of the video, the reviewer discusses Simplify by Quicken, highlighting its focus on easy money management with features like comprehensive spending tracking, saving goals, and synchronization with financial institutions. Although it does not include investment tracking or credit score monitoring, it stands out for its emphasis on spending plans and simplicity, making it a great option for individuals looking to manage their finances effectively. The reviewer encourages viewers to like the video and subscribe to the channel.