SortMoney was borne out of my frustration with managing my personal finances.
For a number of years I dutifully downloaded my bank and credit card statements every Sunday and pasted into an excel sheets. I then checked each transaction to see whether it was genuine, corrected the formatting and tagged each transaction.
With the use of pivot tables and formulas than I worked what my net worth was, how it had changed since last week and what my income and expenses were for the period.
This worked up-to a point but I found it to be very tedious. I therefore put off doing this every week until one day I found direct debts which should have stopped long time back but didn’t.
I saw that I was not only losing time I was also losing money.
Enter the aggregators
At that time the financial aggregators entered the market. I think the first one was Kublax (which went bust a couple of years) letter. This was followed by Moneydashboard (which is still around.)
Like many others I rushed to set-up my accounts. But then I felt uneasy. Sharing your login details is a big thing and something expressly prohibited by many banks. You can see below what Nationwide and Barclay have to say on this:
See the point no. 5 in Barclay’s digital banking promise.
See the second point in our promise to you by Barclays
Not only that these aggregator services were dangerous and unreliable. I also found them to be not very useful overall as they hadn’t been properly thought through in the rush to imitate a certain US company called mint.
Not the one to give up easily I tried a couple of desktop softwares. Microsoft used to have a reasonable one called Microsoft Money which they abandoned as this was too small a market for them. There are a couple of others in the market but I found them lacking key features I needed. I also found their interface dated and better belonging to 80’s. Add to that the hassle of safely moving your data every time you change your computer and applying patches. Overall they left me high and dry.
Enter the SortMoney
I therefore decided to come-up with a solution of my own.
We launched SortMoney earlier in the year. Currently it is in Beta phase. It offers many advantages over the alternatives. Some of the key ones’ being:
– You can import your own bank & credit card statements. You don’t need to provide login details.
– We have tried to make the transaction page look, feel and operate like an excel sheet.
– You can set-up separate page for accounting for any projects or side-income you have
– You can use integrated mobile app for your cash expenses and attaching your receipts to entries.
I could go on and set-out all the features but important thing to remember is that this is only first version. The tools would be improved with your feedback.
Our target audience is smart people like you.
No doubt at the start you would need to invest some time in understanding and using the tool. But it is well worth investment since it would put you in total control of your finances for all time.
If you claim your account in Beta phase we would extend your trial period from 2 months to 6 months. We plan to charge £3 per month after this.
If you have any questions you can write to me directly at firstname.lastname@example.org