Quick Look: Money Pro for iPad

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I can’t believe I haven’t written about Money Pro before now. Next used to be my monthly spending tracker of choice. I loved it because of its clean design, excellent shortcuts, and support for both iOS and OS X. However, one thing that always the tugged at me was the lack of any features related to income tracking. Next was purely about tracking what you spent, and not the money you had made in a given month.

Money Pro does a lot of what Next could do, and more. It’s not quite as clean and fast as Next, but it does feature: 

  • budgets for specific accounts
  • quick categories for expenses
  • a great Apple Watch app
  • great iCloud sync across devices
  • iOS and OS X support

I bought Money Pro on a lark last Fall and was surprised by its power. I’ve really only used personal expense trackers, but Money Pro is more of a money manager. 

When I add a chunk of income — like payment for a freelance job — I can assign it to a particular budget. I’ve been working off of just one budget called “Monthly” for now, but as I researched the app for this quick review, I realized there are far better ways I could be utilizing Money Pro’s budgets. If I’m saving up for a particular item, I can move money from my main “monthly” budget over to that specialized budget over the course of a few weeks. Not only will this help me save more responsibly, but it will also help me identify how much I’ve spent on regular stuff  vs. frivolous fun stuff. Once I have the app set up properly, I can see how it could be great for tracking multiple budgets, like a savings budget for a trip, a monthly grocery budget, or a digital piggy bank for the lens I’ve been meaning to buy.

I’ve spent a few months on Money Pro now and I still haven’t fully mapped the app out. There are advanced reports like cash flow reports (to track available cash on a given day of the month), or transaction reports for specific periods of the month (useful for tracking money spent during a vacation).

The only thing I’d really want from Money Pro at this point is a bit more proactive prediction. If I was adding a coffee expenditure to Next, it was smart about suggesting either “Starbucks” or “Second Cup” as I began to type. Money Pro will automatically suggest adding the expenses I entered from yesterday, but it doesn’t do anything smarter than that. Most of my coffee and dessert expenses are within the same price range, and I’d love for a future version of Money Pro to recognize this and make smarter suggestions as I add new expenses.

However, considering everything else that Money Pro does, this is pretty minor complaint. I used to have to use Next alongside Soulver to track my budgets the way I wanted to, but Money Pro is powerful enough to do everything in a single package — it’s an absolute steal at $5, and easily the premiere expense tracker on iOS for money.

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