Wednesday, March 3, 2010

Yodlee, More than Mint


I wrote about Mint just a little while ago. It is great for someone who does nearly all of their banking and transactions electronically, but it doesn't have a lot of wiggle room when it comes to adapting to different circumstances. I used Mint for a bit and then decided I needed to have more control over budgets and upcoming transactions. So, I decided to try Yodlee.

I like Yodlee much better. I like the way it looks, I like the many options I have for budgeting and analyzing trends and transactions. I really like the calendar feature in which you can view when upcoming bills are due. In Yodlee I could set up recurring payments and bills manually, something I couldn't do in Mint. Through Yodlee, one can also authorize the payment of bills. I don't do this because I happen to live in a state where that is not available. No biggie, since bill pay isn't a feature I was looking for. One thing that I wish Yodlee could do, is a projected balance. Say you want to look in the the future a month or two, viewing your future balance, which would take into account your budget, bills, etc. I can't find a free online service that will do this. :(

*** Yipee! I was wrong about this. You can view projected balances! See comments below.

21 comments:

  1. Hi there... you can do projected balances in Yodlee... Just go to the bank account that you want to project a deposit or withdrawal to, and say "Add Manual Transaction" from the list of options on the left nav, or at the bottom... Enter the date, amount and recurrence (if any) and you are all set.

    If you write a check in the future, you can enter the check # too, and we'll match it when the transaction posts...

    Then when you go to Income/Spending reports and/or the Financial Calendar, we'll reflect your future dated transactions.

    HTH

    P

    Peter Hazlehurst
    SVP Products
    Yodlee Inc.

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  2. Okay, I stand corrected and am happy to be corrected because I really wanted this feature. I checked it out. Great! Pretty simple and I feel sheepish for not figuring it out on my own.

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  3. Yod 10 is coming soon....check their forum for the updates :)

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  4. Hallelujah and AMEN! Thank you so much for having this. I have been looking for months to find a replacement for Quicken Online. With 5 days left you have saved me. Thank you, thank you!

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  5. Kelley, you are welcome. I hope Yodlee will work out for you. I've been using it now for just about half a year. I'm happy enough with it... especially since I'm not paying for it.

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  6. Is there a charge for this service?

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  7. Why does the calander change the balance of you account nearly randomly when you click back and forth between future dates? It's driving me crazy. Also, what "Income/Spending" reports? I know how to click on the account balance when you are in the calandar and that does work, but you can't go longer than 1 month in the future.

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  8. Hmmm, When I look at my financial calendar, the only balances I see are just totals of how much in bills I will be paying that month. No actual account balance. But if I click on account info from the calendar, then I can view a current balance there. The projected balance can also be found on the account info page at the top portion. You will only see a projected balance if you have added manual transactions either one-time or recurring in the future. You can go more than one month into the future on your financial calendar only if you have added manual transactions that recur more than one month into the future. BTW, Yodlee will automatically match these manual transactions with the actual one when it goes through your bank. It's pretty impressive.

    I hope that makes some sense. Also, "Income/Spending" reports... Are you referring to Paul's comment? "Spending reports" is one of the categories you can view. I'm not sure what Paul was referring to with "Income reports." But, you can make a report of just your income by going to "spending reports" and then clicking on "personalized reports". There you can select what category you would like to view. For example: "Paychecks/salary" for the year.

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  9. sorry to be dense but I can't find "add manual transaction", I'd really appreciate your help,

    Thank you
    Angela

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  10. Angel,
    You ask a good question. Adding manual transactions is hidden more than it should be. First you click on the account that you would like to add the manual transaction to. Then, scroll all the way down to the bottom of the page, and you should see a link in blue on the left hand side that says "Add Manual Transactions." Hope that does the trick for you!

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  11. Thanks Humdrum Hero, I finally found it and am slowly getting to understand Yodlee. Lots to learn but it looks good so far. I miss Quicken but hopefully this will work out just as well.

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  12. Am I dreaming or did the yodlee interface change over the last couple weeks? Now I can't find my projected balance list except on the calendar. Any advice would be greatly appreciated.

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  13. Angel, You are not dreaming. Yodlee is making some changes. I've had some quirky moments on Yodlee too. A few days ago I was not able to view my financial calendar at all. Another time my manual transactions that were withdrawals were showing ups as deposits. Thankfully, I gave it time and it fixed itself. Wish I could help with it, but at this point I just think we wait and see what happens.

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  14. Hello all,
    I have an Yodlee acc and I like it. However it seems to download data (credit cards and bank) only until Aug 2010 and not for the previous months. How can I make Yodlee import a year long transaction history and make a pie chart out it?
    Thanks for your input.

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  15. Hmmm. That is interesting. I would be inclined to attribute this to the many changes Yodlee has been making. I just logged on to my account today and was able to see 12+ months back on my expense analysis as well as transactions. Maybe give it some time?

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  16. Hello,
    I too am only able download data too Aug 2010. Is there not a way to download 2010, entirely? Or am I stuck with manual transactions?

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  17. Current Yodlee user here. Yodlee doesn't allow for importation of past transactions. PERIOD. While they are a very promising service, I would not recommend them to anyone until this glaring issue gets resolved. To make matters worse, it does not seem to be a priority for the Yodlee staff. There has been a constant clamor for importation in the forums since at least 2007 that has been continually pushed down the priority list, in favor of services that are more lucrative to their corporate customers (Read BofA). They say that it should be 'implemented soon' which is repeated verbatim through '07, '08, '09, and '10, so take that as you will. The next version (10, I think) might begin to integrate imports, however I would be very cautious about joining before they roll out the new version, because it is getting nearly universally bad reviews in the Yodlee forums, and from my own personal experience it is as cluttered and clunky an interface as I have ever seen (Version 9 is still great though). Basically, what I am trying to say is wait a little bit before jumping on the Yodlee ship, at least until they iron out the major, and I do mean MAJOR kinks.

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  18. You are right, Yodlee certainly has flaws. I can see that not being able to import past transactions would be an issue. When I got my Yodlee account, it automatically imported all the past transactions that my bank had available (one year). For me, that was great so I've had no need to import past transactions. But I can definitely see how that could be a problem. I'm not aware of any other free money application as robust as Yodlee though... even with its flaws.

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  19. Yodlee 10 interface is very difficult to use. The Time Machine on the upper right gives the choice of versions, but no one is saying when 10 will be mandatory, so far it's considered a beta with a lot of complaints which Yodlee deletes from the Yodlee forum.
    Otherwise it is the best and can handle unusual account downloads like student loans and insurance bills. The bill pay is not good though, very unpredictable for time and function. User for 1 1/2 years, 23 accounts.

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  20. I agree that Yodlee 10 is rough around the edges, but they have some features that I'm liking as well. I noticed that I can't edit categories as freely as I could with the old Yodlee. Seems as though you can only edit sub-categories and not the main ones. :( Hopefully they are still working on it.

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