Overview of Copilot Financial Tracking App

Aug 22, 2024

Lecture Notes: Financial Tracking App - Copilot

Introduction

  • Topic: Overview and demonstration of the financial tracking app Copilot.
  • Purpose: Personal recommendation and demonstration of Copilot's features.
  • Duration of Use: Over two years.
  • Cost: $70/year with a free two-month trial available.
  • Availability: iOS only, Android version in development.

Key Features of Copilot

Dashboard

  • Default page on app open.
  • Displays:
    • Current budget status.
    • Transactions to review.
    • Budgets per category.
    • Upcoming recurring purchases.
    • Income comparison with previous months.

Accounts Tab

  • Link and sync all financial accounts.
  • Net worth tracking over different time frames (year, year-to-date, etc.).
  • Options to include/exclude accounts from net worth calculations.
  • Tracks credit card balances and utilization ratios.
  • Depository for checking/savings accounts.
  • Manual and automatic sync options.

Investments Tab

  • Track investments across brokerage, retirement, crypto accounts.
  • Shows account balances and holdings.
  • Top movers and performance over selected time frames.
  • Portfolio allocation by investment class.

Transactions Tab

  • Track credit/debit card transactions.
  • Categorize transactions manually or using AI suggestions.
  • Options to exclude, split, or mark transactions as recurring.
  • Internal transfers marked distinctly.
  • Search and filter transactions by account or category.

Categories

  • Create and manage spending categories.
  • Set budget limits for each category.
  • Nested categories for detailed organization.

Recurring Transactions

  • Track recurring expenses (monthly, quarterly, annually).
  • Alerts for upcoming payments.
  • Flexible setup for range of amounts and frequencies.

Additional Features

  • Settings: Exclude/include accounts, alerts, rollover options.
  • Community and Support: Suggest features, vote on future developments.

Conclusion

  • Recommendation: Highly recommended for iOS users, especially those interested in good UI/UX.
  • Trial: Free trial available, link provided in description.
  • Comparison: Similar to Mint but with a better user interface.
  • User Feedback: Positive reception from peers.

Study Tip: Focus on understanding how each feature of Copilot integrates into your personal financial management strategy. Consider exploring similar apps for comparison if on Android.**