Piere Overview: AI-Powered Budgeting

Piere is a brand new budgeting app that’s attempting to fill the hole left by Mint.

When Mint shut down, thousands and thousands of energetic customers wanted a new budgeting app.

Whereas many free apps have promised to ship premium budgeting providers, Piere stands out as the first free app that not solely replaces Mint’s performance, it surpasses it. 

Right here’s what it’s worthwhile to find out about Piere, from key options to plans and pricing. 

*Paid plan coming in 2024. 

What Is Piere?

Pierre is a budgeting and monetary administration app that makes use of AI to make creating and monitoring your price range simpler. It has each free and paid plans, however in contrast to many different budgeting apps, the free tier presents loads of performance, together with a number of account connections, and transaction and price range administration.

The app was began by Yuval Shuminer in 2022, and when Mint introduced it was closing, it noticed its recognition skyrocket.

This is a have a look at the app’s key options. 

What Does It Provide?

Though Piere has an bold product roadmap, its main options are an AI-driven price range, web value tracker, and spending tracker. Right here’s what it’s worthwhile to find out about these options.

Two-Click on Finances

Making a price range might be difficult, however Piere guarantees to make it easy by analyzing your monetary historical past and recommending a price range based mostly in your historic spending. Inside two clicks, it offers a “tuned” month-to-month price range which you should utilize to trace your revenue and bills.

The 2-click price range may go for some folks because it makes use of 90 days of historical past to suggest your plan. However Piere’s price range has a serious drawback. It doesn’t require your price range to be balanced. My 90-day transaction window coincided with paying for summer season youngster care and a serious dwelling improve.

We saved upfront for these bills. Nonetheless, the preliminary price range advisable by Piere confirmed a $4100 price range deficit each month. I used to be additionally shocked to see that Piere’s price range ignored my mortgage cost.

Nonetheless, manually adjusting the price range is easy, and monitoring your bills relative to your price range is actually painless.

Automated Categorization of Transactions

Piere mechanically categorizes transactions based mostly on the first vendor. That is vital as a result of the price range it recommends is predicated in your transaction historical past. Whereas I wasn’t impressed with the preliminary categorization of transactions (transfers had been characterised as automotive funds, for instance), I used to be impressed by how effectively Piere “discovered” the brand new guidelines.

As quickly as I recognized financial savings transfers, charitable giving, and gymnasium memberships, Pierre utilized the rule to all associated transactions.

Categorizing Venmo Transactions

As a heavy Venmo person, I recognize that Piere “seems inside” your Venmo account, and treats these transactions as significant transactions. It even treats reimbursements as reductions in spending as a substitute of as “different” revenue. I primarily use Venmo to pay for a handful of providers, so I couldn’t take a look at the reimbursement function. Nonetheless, loads of Piere’s on-line critiques give accolades to this function.

Shared Transaction, Sensible Reimbursement, Pooling Cash and Extra

Piere is doubling down on “shared” funds that don’t embody a major different. Pierre is positioning itself as a substitute for Venmo by permitting associates to share transactions and reconcile transactions inside the app. It’s additionally created a monetary Pool that’s good for a visit or an workplace PowerBall Pool.

Web Price Monitoring

Piere isn’t merely a spending tracker. It seems at your complete monetary image. Pierre means that you can hook up with conventional brokerages like Constancy, Charles Schwab, Betterment, Wealthfront, and Vanguard, and even some crypto exchanges corresponding to Coinbase. These connections are used to trace your web value over time. It’s value noting that historic web value monitoring can be a premium function, and customers should improve to Piere Plus to make use of this function.

Are There Any Charges?

Piere at the moment presents a free plan, referred to as Piere Purple. There’s a Premium model, referred to as Piere Plus+, in addition to a desktop model of the app, within the works for 2024.

When Piere Plus+ is out there, it’ll embody AI-driven insights, superior transaction guidelines (to rely reimbursements in opposition to spending), historic web value, and different options that haven’t but been launched. Piere Plus will price $9.99 month-to-month or $79.99 billed yearly. 

How Does Piere Examine?

General, Piere presents a strong, easy-to-use, easy-to-customize, and clever monetary administration platform. Piere’s free budgeting instrument is best than most premium budgeting instruments (though YNAB or Tiller could also be higher for these with advanced budgeting wants).

Piere’s web value monitoring instrument presents insights that rival the insights from Empower. Piere’s free possibility could really be the perfect different to Mint.

How Do I Open A Piere Account?

To get the app, go to the App Retailer and obtain Piere or you should utilize Piere from the Google Play Retailer. You’ll want an e mail tackle and password to get began. When you’ve accomplished a profile, you’ll be able to join your accounts to Piere.

Piere makes use of a third-party service that solely reads info out of your accounts. As soon as that’s achieved, you can begin your price range and web value, and categorize transactions. Proper now, Piere doesn’t require customers to enter a bank card to begin an account. This may increasingly change when Piere begins charging for Piere Plus.

Is It Secure And Safe?

Piere makes use of a third-party service to encrypt info and hold it safe. The app additionally permits customers to arrange multi-factor authentication to make sure that info is stored protected and safe. Piere makes a giant deal about being SOC 2 compliant. This merely signifies that it follows greatest practices for guaranteeing that banks and different monetary establishments can hook up with the app. General, Piere has wonderful safeguards in place to attenuate the dangers related to id theft.

How Do I Contact Piere?

Piere’s headquarters is situated at 910 seventeenth St SE, Fort Lauderdale, Florida 33316. You may get in contact with the crew by emailing contact@piere.com. When you obtain Piere, you’ll be able to contact the event crew by hitting the Gear Icon within the higher proper nook after which utilizing the “Contact The Group” part. The positioning doesn’t at the moment present any telephone numbers, and it doesn’t at the moment have a chat possibility for customers.

Is It Price It?

Proper now, Piere is a wonderful app, and its product roadmap is promising. Personally, I’m desperate to see how the AI-driven insights carry out when they’re launched. The idea of “roll-over” budgeting can also be very thrilling. As a result of Piere is at the moment free, it’s effectively value downloading. The budgeting function is superb, and I’m impressed by the spending tracker.

When customers should pay for Piere’s premium options, the free model will nonetheless be value utilizing for most individuals. It’s an easy-to-use app that means that you can price range, spend, and observe your funds simply.

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Piere Options