Original Post: 11/03/2023; Updated Post: 9/11/24
My wife and I use Tiller to manage our own personal finances, and we love it! Here are three reasons why:
1. Time saver!
We have far too many transactions to track on an app or input manually. Time is at a premium. Once our accounts were linked to Tiller and we categorized three months of transactions, Tiller is updated daily without us having to invest any additional time. We actually get an email each morning with a review of each transaction from the previous day.
2. Safety!
Tiller does not share personal data, advertise other products, or have detailed access to our financial accounts.
3. Budgeting!
Tiller makes it super simple to recognize spending patterns and identify problem areas.
Table of Contents:
Bank Integration
Customizable Spreadsheets
Automated Transaction Tracking
Expense Categorization
Financial Insights and Reports
Setting Up Your Tiller Account
Connecting Your Bank Accounts
Customizing Your Spreadsheets
What is Tiller?
Tiller is a powerful personal finance management platform that leverages the flexibility and familiarity of spreadsheets to help users take control of their finances.
Tiller seamlessly integrates with your bank accounts to automatically import transaction data, allowing you to track income, expenses, and financial goals in real-time.
How Tiller Works
Tiller operates at the intersection of cutting-edge financial technology and familiar spreadsheet software. At its core, Tiller automates the process of tracking and managing personal finances by seamlessly integrating with your bank accounts.
Once you connect your financial institutions to Tiller, it securely retrieves transaction data in real-time. This data is then automatically populated into customizable Google Sheets or Microsoft Excel templates, giving you a clear and organized overview of your financial activities.
The beauty of Tiller lies in its flexibility and customization. Users have the ability to tailor their spreadsheets to match their unique financial goals and preferences.
You can create custom categories, set budgeting parameters, and even design personalized reports to gain deeper insights into your spending habits. This level of control sets Tiller apart from many other financial management tools, allowing users to mold their tracking system to precisely fit their needs.
Tiller's automated transaction tracking eliminates the need for manual data entry, saving users valuable time and ensuring accuracy. This means no more poring over bank statements or receipts.
With Tiller, your financial information is continuously updated, giving you a real-time snapshot of your financial health. This automation empowers users to make informed decisions about their money and stay on top of their financial goals with ease and confidence.
Key Features of Tiller
Bank Integration
Tiller's bank integration feature is the cornerstone of its effectiveness in managing personal finances. It allows users to securely link their bank accounts directly to the platform. This means that Tiller can seamlessly and automatically retrieve transaction data in real-time from over 20,000 financial institutions.
By eliminating the need for manual data entry, bank integration not only saves users time and effort but also ensures the accuracy and completeness of their financial records.
This feature provides a seamless and hassle-free experience, allowing users to focus on analyzing their financial data rather than spending time on administrative tasks.
Additionally, because Tiller employs bank-level encryption and security measures, users can trust that their sensitive financial information is kept safe and secure throughout the entire process.
Customizable Spreadsheets
Tiller's customizable sheets feature offers users a level of personalization and flexibility that sets it apart in the realm of personal finance management tools. With Tiller, you have the power to design your own financial spreadsheets to perfectly align with your unique financial goals and priorities.
This means you can create custom categories, allocate budgets, and track expenses in a way that makes the most sense to you. Whether you're a meticulous planner or prefer a more streamlined approach, Tiller's customizable sheets adapt to your preferences.
Automated Transaction Tracking
Tiller automates the process of importing transactions, saving you time and ensuring accuracy.
Once you've linked your bank accounts, Tiller retrieves transaction data directly from your financial institutions in real-time. This means that every time you make a purchase, payment, or receive income, Tiller captures and records it automatically. This eliminates the need for manual data entry, saving you time and ensuring accuracy.
Seamless automation ensures that your financial spreadsheets are continuously updated, providing you with an up-to-the-minute snapshot of your financial activity. With Tiller, you can confidently make informed decisions about your money, knowing that you're working with the most current and reliable information available.
Expense Categorization
Easily categorize and label expenses for a detailed breakdown of where your money is going.
Financial Insights and Reports
Generate clear and insightful reports to help you make informed decisions about your finances.
Security and Privacy
Tiller employs bank-level encryption and security measures to protect your financial data. It never stores your login credentials, and all data is encrypted during transit and at rest.
Tiller vs. Desktop Other Financial Management Tools
There are countless financial management tools available for all different types of purposes. Kubera, Credit Karma, and Empower (formerly Personal Capital) are a few examples. Apps such as these provide niche tools rather than a daily money management tool such as Tiller.
For most folks, a daily financial management tool is all that is needed.
Many tools such as these are built as mobile apps. Tiller is not an app. It is designed to be used on a computer. There are really only two primary competitors as of late 2023 are Mint and YNAB.
Mint
Mint is shutting down! We wrote about this shocking announcement and what Mint users can do next in our post Mint Shutting Down! What Mint Users Should Do.
YNAB
YNAB is a popular program that is also widely used. My wife and I tried it early in 2023 and did not like it. However, this does not mean that you won't. Below is an image created by Tiller comparing Tiller to YNAB.
Can Couples Benefit from Using Tiller?
Yes! We wrote about why in our post, Mint Shutting Down! What Mint Users Should Do. We are also collaborating with Tiller to develop specific advice and video tutorials. Subscribe to our newsletter to learn first when they are released.
Getting Started with Tiller
Step 1
Start your 30 day free trial. Create your account by signing into the Tiller Console with a Microsoft or Google account. Enter a payment method in the Checkout screen (30-day free trial, then $79 annually). Click "Start trial"
Step 2
Securely connect your financial accounts to Tiller under the Connected Account Summary on the Tiller Console.
Step 3
Select your favorite spreadsheet template and have it created in seconds.
Click here for the step by step details written by Tiller.
Users will need to set aside anywhere from 15 minutes to three hours. It depends on how much time you want to spend customizing and automating your tool. Users also need to decide how much time to devote to the process together and independently.
Tips for Couples to Maximize Tiller's Effectiveness
Our Video Tutorials with Tiller Founder and CEO Peter Polson
Use Tiller to Blend Your Finances in Marriage: Part 1
Use Tiller to Blend Your Finances in Marriage: Part 2
Our Experience Maximizing Tiller's Effectiveness
We are both busy and the mechanics and time we must devote to managing money primarily fall onto my shoulders. I enjoy it, and I am good at it. It's just one of many examples of how we divide household labor responsibilities.
After reviewing numerous options, I selected Tiller and gathered the usernames and passwords I would need to connect our financial accounts and automate the process. It took less than 15 minutes to work through this and select the preferred Tiller budgeting tool and cash management template.
I decided to spend quality time getting everything to run automatically and have a money date. I downloaded three months of transactions using the "autocat" feature. I customized our categories and then used their intuitive tool. This process allowed me to review every transaction over the past few months and easily present our spending patterns to my wife.
We had a Money Date, and using Tiller to simply draw data, we discussed the spending and savings patterns we wanted to adjust. The process, from start to finish, took me three hours.
Everything is now automated. Our transactions from the day before are emailed each morning. I can log on to look at our financial dashboard in seconds. It's that simple.
Before Tiller, I needed to review transactions on multiple credit cards. Frankly, I don't have the time to consistently stay on top of it. Now, every transaction is in one place.
No more work, just the perfect tool to use for our Money Dates.
If you don't want to wait until our video tutorials are completed, read How to Manage Money as a Couple With Tiller – Tips for Getting Started, written by Tiller.
Pricing and Subscription Options
After 30 days, Tiller is just $79/year, never any ads or hidden fees. Your card isn’t charged until the end of your free trial, and you can easily cancel anytime.
Tiller Community and Support
Click here to join the vibrant Tiller community, forums, and available customer support resources.
Final Thoughts and Recommendations
Tiller empowers users to take control of their finances with its intuitive spreadsheet-based approach. By automating the tracking of income and expenses, providing insightful reports, and offering a high level of customization, Tiller has become a valuable tool for those seeking financial freedom and peace of mind.
Whether you're a budgeting novice or a seasoned financial guru, Tiller has something to offer everyone on their journey towards financial success.