This article is in partnership with PocketSmith. All opinions are honest and derived from my own personal experiences using this software hands-on.
As the new year rolls in, it’s time to start thinking about our budgeting goals for 2025. One of the determining factors in whether you reach your financial goals or not is if you have a good system going for you.
And with Mint’s shut down last year, I know there’s a lot of budgeting software orphans out there.
So as we stare down 2025, I wanted to introduce you to a new alternative. Whether your old budgeting software disappeared or you just want to find one that’s more customizable for your needs, I’ve personally been loving PocketSmith as of late. Here’s why I think you might fall in love, too.
Choose your own adventure with automatic live bank feeds or manual entry
PocketSmith is customizable across almost every domain, and that starts with how you upload your financial information. In the US, you can link the software with almost any bank or financial institution, which makes uploading your income and expenses a breeze. It’s not just easy – it’s automatic.
If you are weirded out by linking your bank, you do have the option of manually uploading your information. No problem.
Privacy is paramount with PocketSmith
It’s 2025, and it’s normal to be weirded out by how much of our digital information is floating around in the ether. It’s also normal to be concerned about companies selling off that information or using it for nefarious purposes.
But privacy is at PocketSmith’s core. Not only are the highest industry standards observed, but they’re not going to sell your data to anyone. Only the essentials are collected, ensuring your personal information stays safe and secure.
The only way your data is used is in terms of how much you spend in each category, and even then, the information is anonymized. Essentially, they’re just looking at how much the user base spends in a particular category within a specific country. Spending map data is not tied to your individual name, identity or bank account at all.
Easy categorization of each transaction
Categorizing your budget has never been easier. Rather than going through a linear list on a spreadsheet, PocketSmith presents each transaction to you on an individual card. It’s way less confusing than traditional budgeting software, and really forces you to confront each individual purchase you make throughout the month. I’ve found it to be a lot faster than checking my spreadsheets or bank account statements, too.
We all know we should be doing this each and every month, but if we’re totally honest? A lot of us don’t. The fact that this is such an easy, central feature of the software is something I’m grateful for. Let me tell you why.
Catching fraudulent charges
Thanks to the categorization feature, I actually discovered a couple fraudulent charges on my account. They weren’t massive, and they were for a parking garage, so I don’t know that they would have raised red flags if I was just scanning my statement at the end of the month. I do pay for parking in my day-to-day life, and I don’t always know the name of the company that owns the lot or garage.
But when PocketSmith asked me to categorize a parking charge specifically in London?
I knew something was up right away. The last time I was in London was in the ‘80s. They had just helped me catch a scammer.
Lucky for me, my bank is on it and noticed it, too. The next morning, as I was about to call them about my PocketSmith discovery, they actually rang me. They got everything sorted with the fraud department super quick.
But my past experience with other financial institutions is that they’re usually not on it, and fraud reporting can be a nightmare – especially on a checking account. Catching that expense quickly thanks to PocketSmith’s clear interface could be a game changer.
Budgets and forecasting
Once you’ve uploaded a few months of banking history, PocketSmith starts building out a budget for you. You can go in and do this manually, but if you want it done automatically that’s a thing they can make happen, too. These budgets are super customizable, so if you want to get hands on, you totally can. But if you’re usually overwhelmed by the task, it takes the heavy lifting on for you.
Flexible budgeting
Normally when we talk about a budget, we’re talking about the traditional one-month budget. Which is something PocketSmith can help you build.
But if you get paid weekly? Biweekly? Or across any other period?
You can get so customized with this software so that it matches your pay period or your spending calendar. It’s not prescriptive. It’s a choose-your-own adventure type of vibe.
Forecast up to 60 years into the future
Okay, the forecasting features at PocketSmith are really cool. You can see what your future finances will look like with your predicted income and planned spending. Not just across the next couple of months – you can create these forecasts for up to 60 years in the future!
Shorter-term forecasts can be incredibly helpful as they can alert you to any red flags. If you’re not going to have enough income to meet your financial needs over the next few months, knowing that now can help you take action before your bank account dives into the red.
But longer-term planning can help you build aspirations. It can help you visualize those longer-term goals, and what you’d need to adjust to reach them. It’s super empowering.
Test out what-ifs before you make big money moves
Another unique feature of PocketSmith’s forecasts is that they allow you to test out what-if scenarios without necessarily messing with your in-real-life budget. Like…if you went back to school in an attempt to boost your income or secure a job with health insurance, what would that look like? If you were to invest a little more each month, how much would that affect your net worth long-term?
The possibilities are endless, and they can both help you make better financial decisions in the here-and-now and better decisions for the future.
Net worth & cashflow statements
Separate of or inclusive of the forecasting feature, you can access cashflow statements, showing you your income versus expenses. Plus, there’s a net worth tracker so you can watch your investments (hopefully) grow or your debt (hopefully) shrink.
Why PocketSmith is great for neurodivergent budgeters
There’s a few different populations PocketSmith serves really well, and the neurospicy are among them.
A lot of times when you’re neurodivergent, the typical budgeting tips won’t apply to you. Neither will the typical budgeting software. PocketSmith does a pretty stellar job of addressing these concerns. Here’s some common ones, whether you have ADHD or you’re Autistic:
- Organization may or may not be your strong point, but either way, pushing through the anxiety of starting to get organized can be paralyzing for some neurodivergent people. PocketSmith helps you get over this procrastination hump by offering to build the budget for you. The categorization feature is also great for this as you only have to look at one, specific line item at a time – you’re not confronted with everything all at once.
- The fact that you can use PocketSmith with multiple accounts means that if you need to keep your savings way separate from your checking account to avoid impulse spending, it won’t impact your ability to see your overall numbers all in one place.
- Sometimes neurodivergent people like things organized in a very specific way. Usually when someone else builds software, you have to organize things their way. But because PocketSmith is so customizable, it’s easy to build around your own preferences, no matter how specific they are.
- If you need support along the way, PocketSmith has a reputation for fantastic customer service – which is kinda rare for a budgeting software company.
TIP: If you’re on SSI, you may be able to get an additional allowance from the Social Security Administration for PocketSmith’s subscription fee as it’s helping you build financial literacy skills. Don’t forget to link the software with your ABLE account!
Why PocketSmith is great for digital nomads and expats
On top of the myriad of other features we’ve talked about today, PocketSmith allows you to link accounts in multiple currencies. That means if you’re a digital nomad or expat, you can manage your money across borders. You might have a bank account and/or retirement accounts in the US, and checking and savings accounts in the EU.
Doesn’t matter.
PocketSmith’s got your back. You’ll still be able to run your forecasts and budgets, which is huge because managing money across borders is traditionally complicated. It’s pretty incredible to have a software option that makes seeing the whole picture so easy.
Why PocketSmith is great for you
PocketSmith is great for everyone. It’s so highly customizable and easy to work with that really whatever your circumstance, you can make it fit like a glove. And in those rare instances where you do come up against a roadblock, there’s that amazing customer service team at your disposal.
What are your budgeting goals in 2025? Let us know in the comments!