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Yodlee MoneyCenter

Control Your Financial Life


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Published 11/23/2010 and rated Ratingstars2 2 out of 5 stars
by AppAppeal Editor
What can you use the app for?

Yodlee helps the everyday user gain insight and control over their spending. The site is intended to help users learn about their financial life and possibly discover ways to improve it. The Yodlee Money Center is not another business finance tool. The site is geared towards the average individual or family. Users can monitor all manner of spending, from money paid out for utilities, rent, mortgage payments, insurance and car payments to funds reserved for entertainment, dining out, and more. The site allows the user to tailor their budget to their life and figure out where their money is going. The service is simple enough that anyone can use it without an in depth understanding of finances or investments.

Yodlee MoneyCenter screenshot
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What is the history and popularity of the app?

Yodlee was founded by Schwark Satyavolu. Based out of Redwood City, California, the site was intended to provide users with an online finance monitoring application. Today, Yodlee lives up to expectations providing users with helpful information and a way to gain control over their spending habits. The site also allows users to find ways to make banking activity more profitable. By giving the user a closer look at their overall expenses and where their money is going, Yodlee helps equip the user to improve their financial situation.

What are the differences to other apps?

There are many online money monitoring resources. Most of these are geared towards investors, professionals, and businesses. While these individuals have a very strong need for financial assistance, the average person is often overlooked. Yodlee gives the regular internet user a way to control their money at a personal level. The site is flexible so that users can enter their personal expenses and keep track of what is happening with their bank account every day, week and month.

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How does the web app look and feel to use?

The Yodlee website welcomes visitors with an unintimidating appearance. The site includes plenty of open space so the user can get right to work on their finances without distractions. Helpful tools such as colorful pie charts help users visualize their financial situation. Yodlee also offers valuable services such as online bill pay and secure funds transfers from anywhere at any time. Users can select from pre-categorize reports to review expenses without doing all the organizing themselves.

How does the registration process work?

A new visitor can click the orange “Sign Up Now.” button along the left hand side of the homepage to register for a Yodlee account. Users can choose from four languages, including English, Spanish, French, and Chinese. The registration form requires a username, password, first and last name, address, email address, time zone and three security questions and answers. Users can also select a SiteVerify image to add another layer of security to their experience. After submitting the information, the user is advised to check their email inbox for verification instructions to complete registration and begin using Yodlee.

What does it cost to use the application?

Yodlee is intended for use by the average person. While the service is very helpful, requiring a subscription fee may be counter productive in the eyes of some users who want to find ways to control their finances and save money. Luckily, the creators offer Yodlee accounts for free. Anyone can create an account and begin using Yodlee at not cost. There are not subscription fees or al la carte charges.

Who would you recommend the application to?

Yodlee could be ideal for anyone who wants to gain control of their financial situation. Although the site might be lacking for a large business with complex expenses, it is ideal for the average user. The simple nature and user friendly environment make it a great choice for the everyday person.

  • Send funds transfers anytime from anywhere
  • Use the Yodlee money center to pay bills online
  • Review pre-categorized financial reports
  • Set customized categorization rules
  • Create a financial calendar


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English

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