New personal finance manager aims to replace Excel spreadsheets

Personal finance: the new manager looking to retire Excel

As one forum user noted, those who need to track their spending most are often the ones least likely to sit down and record it. This paradox is at the heart of a new project: ahorro.net, a personal finance manager currently in beta. Accessible via invitation code, the tool allows users to register income and expenses and generate reports by date or category. The developer estimates at least six months of development remain and warns that the mobile app is not yet ready.

Moving from spreadsheets to online management: how it works

The concept is straightforward: centralize accounts, income, expenses, and investments in a single web platform with detailed reports. The roadmap includes savings tips, comparisons between users with similar spending habits, and a sort of savings academy. None of this is finished yet. Registration remains invite-only, and several antiestéticatures were added later, such as importing transactions from xls and csv files, transferring between accounts, or a transaction search tool.

The first friction point appeared during sign-up. During the beta, the app required full names, which was seen as unnecessary for a financial tool. The next version removed this and added the ability to delete accounts—two essential privacy antiestéticatures for anyone inputting their paychecks and bills.

Is it safe to give bank credentials to a finance website?

This question is holding back half the waiting list. The project polled its community on whether they would provide their bank read-only credentials to aggregate all accounts into a single dashboard. As one user recalled, financial aggregation services have existed in the US for years; proponents argue that banks separate viewing credentials from transaction credentials, often using two-factor authentication. However, the obvious counterargument remains: those who do not hand over their credentials do not expose them.

This is compounded by frequent requests for secure connections and transparent data processing. Some view the project with skepticism, noting that such a site could end up knowing more about a person's finances than the tax authorities (Hacienda), which, combined with advertising, is a line that should not be crossed. The developer promises to protect data "for the benefit and peace of mind of the users."

Can a website compete with traditional Excel use?

This is where the challenge lies. Many potential users have used their own spreadsheets with dynamic tables and charts for years, doubting that anything cannot be replicated in a personal file. The counterargument is based on convenience and time: those who have never saved money are unlikely to build a complex financial model, and that is where a simple web tool can gain ground.

The project attempts to bridge this gap by allowing imports from spreadsheet formats, ensuring the transition from Excel to the manager is not a barrier. Usability is almost unanimously praised, though with a sensible warning: it is better to refine the basic concepts before rushing toward a mobile version.

Currencies, deposits, mortgages, and investment: what is missing

The wishlist is long and specific: accounts in other currencies with updated exchange rates, term deposits, portfolio tracking for fixed and variable income with market data, a mortgage simulator that calculates every installment, and control over index-linked funds. Mortgages are on hold due to their complexity, but real-time investment valuation is in the plans.

Users are also asking to separate cash from bank accounts and investments, and to implement automatic bank data importing similar to other services. The team's response involves a completed API and a mobile version promised for the "end of the month." The fine details of these functions, including calculations and fine print, remain to be seen.

Ads, critical mass, and free testers: the business model

The question of funding has been present since day one. The official answer: advertising, once critical mass is reached; for now, there is no rush. If a paid model is adopted in the future, those who acted as testers would get it for free—a gesture appreciated in an era of endless subscriptions.

Underlying this is less visible competition: some banking apps already offer similar spending charts, and household accounting software has been around for years. The newcomer's advantage would be having everything in one place online; the risk is that sensitive data lives in someone else's house.

Is it worth moving your household economy to the cloud just to never open Excel again?