I have been using the Wave Accounting service for several years. Recently I have decided to stop using Mint and use Wave for my personal finances as well. The idea is that this will allow me to streamline things when I purchase something business related with my personal card and the opposite. However, this week Wave decided to throw a wrench into my plans and get rid of some of the personal accounting features.
To be honest I didn’t use the personal budgeting or investing features but I am concerned about what comes next for the personal side of their service. I completely understand and agree with their reasoning. If only a small group were using these features and they are in the way it makes sense to remove them for something else. However this is exactly the problem; their post didn’t spell out at all what was going to replace these features on the personal side (if anything was going to be replacing these features).
This is exactly what I am concerned about. I don’t know what features (if any) are going to be replacing the budgeting and investing. It would be perfectly fine if Wave was going to allow the personal side to view reports and charts (How much of my spending is going to restaurants?) but they just didn’t clearly state what was going to happen with the over all personal side of financing. They may be getting rid of the personal side all together. You can’t really tell from the post/email they wrote.
Make no mistake, I’m very happy with Wave for my very small business and I will continue to use it for sending out invoices and keeping my business finances in line. I just wish they were clearer about what was going to be happening on the personal side of things.