Otherwise, if you’re already a Microsoft 365 subscriber, there’s no reason to not test out Microsoft’s Money setup for Excel. I wasn’t able to test this myself, as none of my friends would loan me their bank account information for the day (sigh), but it’s something worth considering before you move your financial tracking over to Excel. I have noticed a few people complaining that they can’t connect multiple accounts from the same provider - your account and your spouse’s account, for example - via Excel’s setup. That’s a bit different than other financial-tracking services you might have used, which may give you more performance metrics about your finances regardless of type. You’ll see your account balance pop up on the sidebar, but none of the spreadsheet make use of this information. While you can connect accounts to Excel that aren’t directly related to your spending, such as your 401k, there’s not much Excel can do with that data. You can quickly calculate your entire net worth across all of your accounts - useful if you’ve connected everything to Excel - and you can scan through your spending to flag recurring purchases in case your subscriptions are getting out of control. Microsoft also lets you add two extra templates to your spreadsheet if you want more information about your spending habits. There, you’ll find two options: Edit in Browser, which launches the web-based version of Excel, and Download, which you can use within your desktop or laptop’s Excel app. If you’re a Microsoft 365 subscriber, visit the website for Microsoft’s “ Money in Excel” premium template. And the idea of paying money to manage my money always strikes me as strange, but that’s just me. Microsoft’s cheapest subscription plan, 365 Personal, will set you back $10)/mo or $100/year, which isn’t that bad given what you get (access to all the Microsoft office apps), but is still more expensive than free. The “Money in Excel” feature comes in the form of a premium template you can download only if you’re a Microsoft 365 Family or Personal subscriber those on Microsoft 365 Enterprise accounts can’t partake. That shouldn’t be a huge deal if you’re already using YNAB, but users of free finance services like Mint might not be thrilled at the idea. For starters, you have to pay Microsoft to use it. However, there are quite a few caveats that make Microsoft’s setup potentially less practical than services like Mint or YNAB. All you need is Microsoft’s new “Money” template. If you’re tired of using third-party services to track your spending - either because they aren’t as useful as you thought they would be or you’re concerned about giving third-party services access to your bank account and credit cards - you can now connect your various financial accounts directly to Microsoft Excel. You’ll need to be a Microsoft 365 Personal or Family subscriber in the US if you want to use Money in Excel.
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