MoneyWiz 2020 coming this summer

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50 comments

  • David Levine

    Well said! Thank you for taking the time to explain your decision and future plans. I look forward to using MoneyWiz 4 when the final version is released.

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  • Magict4

    Thank you for providing such a great product!

    Quick question: Will you still support **adding** new Yodlee accounts in MoneyWiz 4? I have this question because I don't want to give my banking credentials to one more data aggregation service. If Plaid is the future, can you highlight the privacy/security differences between Yodlee and Plaid? I can find their full statements online, but too lazy to read :)

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  • Iliya

    Hi

    I am actually considering allowing customers to choose their provider for various reasons. And for sure existing Yodlee connections will continue to refresh!

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  • Quang Truong

    I'm excited for MoneyWiz 4. Can you provide how to sign up for the beta when it's available? Thanks!

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  • Iliya

    @Quang - yes will certainly do, but I wouldn't expect us to be beta ready before end of June at the earliest.

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  • Andrea G.V

    These are good news! The reports section is something that has been stagnant and not really fast and user-friendly for a long time. And, more than all the banking and investment stuff, it's one of the parts us users use most, because data and being able to read it, analyze it, and display it is how one makes financial analysis and financial decisions. 

    Could you be more specific and explain in more detail what are your plans and what you have in store for this section? Are you open to suggestions?

    txs, Andrea

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  • Iliya

    @Andrea - would love to provide more info but I really don't have it right now. The reason is that due to the upcoming Plaid integration we're on an August deadline to release, so as I explained in the article, this time we'll take a different approach and just release with few improvements and build on them. 

    At this point I can say that we're making decent progress actually, so I am still optimistic for releasing in time. 

    As for reports specifically, a few things that must be addressed sooner rather than later:
    * get rid of HTML charts and use native charts - faster, more beautiful
    * return landscape support for charts
    * fix UI overall
    * fix the list of reports, it's too confusing...this part needs complete rethinking
    * reorder, potentially also group saved reports
    * change the flow of creating a report...right now it's too formal - you first find the report you want, then select it, then configure it and then generate it. The config part can totally be eliminated and just generate with default values and provide on screen controls to modify those default values.
    * Will also look into more export options as well as we need to re-do from scratch PDF exports as they are way too ugly


    All of this will NOT come in 4.0.0, we just won't have the time for it. But now that we are only working on one code base, things are finally moving fast, so I am optimistic that everything else will be ready for 4.0.0 so that as soon as we stabilize after initial release, the next thing to do would be reports, so hopefully we'll see the above improvements start to come in late august. If by any chance we are ahead of schedule, we'll start the above changes and try to push at least some for 4.0. but again - can't promise we'll be able to pull it off in such a short time.

    Big part of what's happening now is reorganizing the code for scalability in the future, cleaning up tons of code and custom controls that we only have for old-OS compatibility (MoneyWiz 4 will require iOS 13, macOS 10.15), cleaning up unneeded assets, redesigning the UI and adding the macOS features that we had on macOS but were not programmed in the iOS code base. Also already implemented some smaller new features (no spoilers for now :)). Plaid integration work begins this week, hopefully will be done and polished by end of this month and then in July - Budgets! :)

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  • Daniel Calvo-Westcott

    hi Iliya,

    Really enjoying this tool, currently on the 1-week trial and so far ill be purchasing the yearly subscription, i have one question would MoneyWiz 4 be looking to integrate with companies or at least pull the data from companies such as MoneyBox for Lifetime ISA's (, NS&I (Premium Bonds) or even personal investment portfolios such as Property Partner think this would be really useful to be able to see at a glance how your savings are without having to log into them.

    Thanks for all that you do! Stay Safe all the best :)

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  • Iliya

    @Daniel - in MoneyWiz 4 we're adding Plaid as additional bank data aggregator. I just checked though and it seems they also don't support any of the institutions you mentioned :(

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  • Mike Cast

    Hi @Iliya - I've just started using this application this evening on a 1 week trial - my plan is to buy the standard license for MoneyWiz 3 if the application works for my family (loving it so far).  Does your team know how much the 'optional upgrade'  from 3 will cost when this new version (4) is released?  Should we just wait to purchase after a few months to prevent from paying twice in such a short period of time?

    Thank you,

    - Mike

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  • Daniel Calvo-Westcott

    Hey Iliya,

    I guess it's not the end of the world, ill just continue to add them manually maybe in time though, plaid begins to work with these companies :)

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  • Iliya

    @Mike - initially MoneyWiz 4 will be available only via the subscription model, and Standard (one time payment) license may be added in the future, but no ETA now.

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  • Mike Cast

    @Iliya - ah - I see... thank you for that info

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  • Paul Gauntlett

    I am excited to read this!


    Some budgeting issues have so far held me back from fully throwing in my lot with Moneywiz 4. More specifically, the fact (for example) that budget changes are currently retrospective, even if they are intended only to apply to future months.

    Is a budgeting redesign coming in Moneywiz 4 please?

     

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  • Iliya

    @Paul - yes, budgets redesign is one of the high priority tasks for MoneyWiz 4! Being able to change just one budget period or just future ones without changing the past ones is one of the many things we'll be doing for Budgets in MoneyWiz 4.

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  • Paul Gauntlett

    @illya Perfect! I shall be eagerly looking out for the beta!

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  • Quang Truong

    Any news on the beta? 😊

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  • Iliya

    Hi

    Probably next week sometime.

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  • hao luo

    waiting for u~ so exciting!

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  • Timothy Haryadi

    Hi Lliya, its been more than a week, any updates on the beta? :)

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  • Iliya

    @Timothy - sorry it turned out we can't release the beta before August 1, as we can't move to production environment on Plaid before that date. So I am preparing the update to be submitted to Apple early next week, with soft launch in US only, but will also open it for beta outside of US. Since it will be released as a new app, it goes through more scrutiny during initial app review, so there might be a little back & forth with Apple before they give their stamp of approval. I hope to be live in the first week of August though.

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  • Timothy Haryadi

    No worries, take your time. I'm just looking forward to try it out!

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  • Jim Strong

    Hi Iliya - It looks like you are referring to the iOS app only being released from 1st August - will the macOS beta be released at the same time?

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  • Iliya

    @Jim - both (iOS & macOS) will be submitted at the same time, but I have no idea if Apple will approve them at the same time... a submission like this (iOS + macOS in the same listing) is a first for me too. 

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  • Jim Strong

    Oh thanks - exciting times all round!! 😊  Fingers crossed all goes well.  

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  • Iliya

    Just to manage expectations here - this first release of MoneyWiz 2020 (we're naming it 2020, close to end of year 2021 etc)... So far we've done a bunch of things such as:

    * Redesign (not so much UX but UI is refreshed as well as the icon. Settings is largely redesigned)
    * Plaid integration for sync with US & Canadian banks is done
    * Ability to navigate budget periods directly from within the budget view
    * Ability to change single period (this one is neat actually as we made it pretty versatile with easy to use UI)
    * Grouping of budgets
    * Ability to set group color for both accounts  & budgets
    * Support for Drag & Drop on iPad
    * New & improved swipe options for accounts, budgets and transactions (both swipe left & swipe right)
    * Contextual menus (tap & hold on account, budget, transaction for more info)
    * Lots of under the hood improvements that lead to reduced app size and better performance


    What we won't have time to do for first release is income budgets most likely, advanced reconcile, bulk editing of transactions and completely redesigned reports (reports are the same as before, only did minor changes there). On top of that we have a todo list with over 50 new features that we'll be doing once we get the basics right on iOS & macOS (remember that we scrapped the original macOS source code and migrated to Catalyst - i.e. using the iPad code, customized for macOS).

    So, we have a long way to go, probably at least 2 more months before we can safely say that MoneyWiz 2020 is feature complete so we can continue building on that. That's why we'll do a soft release in the US only at first, and will gradually increase presence in other countries as we progress.

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  • Lukáš Raynor Majer

    Hello, can I get an iPadOS beta? Via TestFlight. My Apple ID is the same as my e-mail I use here. Thanks.

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  • Iliya

    @Lukas - we'll open a beta next week most likely (assuming we're approved by then) and will announce it here when we do, so people can sign up for the beta.

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  • Elbert Darius

    Hi Illya,
    I was wondering if I upgrade to moneywiz 4 when it's release for Apple devices, will I still be able to use moneywiz 3 on my android devices? If I remember correctky previously with moneywiz 3 and 2 I couldn't use it together due to the synchronization issue. 

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  • Iliya

    @Elbert - unfortunately it will be the same with MoneyWiz 4. Once you upgrade to MoneyWiz 4 you can't use MoneyWiz 3 anymore unless you downgrade and stop using MoneyWiz 4. The reason is that MoneyWiz 4 brings new features, which in their hand bring changes to the database & SYNCbits data structure. For SYNCbits to work smoothly, all devices need to be on the same version. For instance, MoneyWiz 4 has a lot of budgeting features that MoneyWiz 3 doesn't, so if you use any of them (for example you group a few budgets together) then MoneyWiz 3 will see that information and won't know what to do with it, which will probably lead to data corruption. For that reason MoneyWiz 3 detects that a newer version of MoneyWiz is being used on another device and automatically pauses syncing on the device with the lower version.

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