That’s it, I’ve taken the next step. After my daily activities and social information have found a place online , the transaction information of my bank account also found its place on the internet. The clever company that won my confidence? Yunoo.
Yunoo is a startup company that launched in March. Basically, Yunoo provides insight into where your money is coming from and where your money is going to, without being linked in any way to your bank account! The only personal info Yunoo required was my email adress. From there on, you can import your transaction data to Yunoo. You download this data from your bank’s website (again, not connected to Yunoo directly!) in a simple comma delimited format. Unfortunately, Yunoo only works with Dutch accounts, but I’ve read that Yunoo has European aspirations for the future.
Yunoo can quickly visualize what you spend and receive per month/week/year
After this, the Yunoo-niftyness starts to do its work. Many transactions are automatically recognized and categorized: a pin transaction in an H&M store will get the category “clothing” attached to it. The remainder of the transactions can be categorized manually, but Yunoo quickly recognizes similar transactions and labels them appropiately. All the financial information that is hidden within these transactions is quickly visualized by Yunoo. Average income and expenditures per week, month or year are quickly presented to you. A few clicks further, and the expenditures for February are made insightful in a pie-chart, so you can see exactly how much money you spent on CD’s or the hairdresser, and what the average spending pattern for these labels is.
As we all know, living is expensive!
The functionality doesn’t stop there, you can budget certain categories, alerting you when you exceeded that budget. Well, after all that praise, there sure must be some negative points? The thing is, I’m still not entirely sure whether I want my transactions shared with a company I barely know. I can assure you that I’ve never read the policy & regulations section of a website more closely than I did with this one, but I didn’t find anything suspicious. The Dutch Consumer’s organization (dutch) didn’t either.
In short, Yunoo provides consumers with basic insight in their financial situation, something that banks could do and should have done in the first place. Yunoo really makes the whole experience a smooth ride, withan an hour I was already looking over all kind of graphs, and feeling amazed at the fact that I spent soo much money in April, while so little came in!
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Hé! dat ziet er handig uit! Beetje confronterend zo af en toe misschien.. :)
oja! ik heb je gelinkt op slalala! x