Piere Overview: AI-Powered Budgeting

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

When Mint shut down, tens of millions of lively customers wanted a new budgeting app.

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

Right here’s what it is advisable to learn about Piere, from key options to plans and pricing. 

*Paid plan coming in 2024. 

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

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

Here is a take a look at the app’s key options. 

Though Piere has an bold product roadmap, its major options are an AI-driven finances, web price tracker, and spending tracker. Right here’s what it is advisable to learn about these options.

Two-Click on Price range

Making a finances will be difficult, however Piere guarantees to make it easy by analyzing your monetary historical past and recommending a finances based mostly in your historic spending. Inside two clicks, it supplies a “tuned” month-to-month finances which you need to use to trace your earnings and bills.

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

We saved prematurely for these bills. Nonetheless, the preliminary finances really helpful by Piere confirmed a $4100 finances deficit each month. I used to be additionally shocked to see that Piere’s finances missed my mortgage cost.

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

Automated Categorization of Transactions

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

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

Categorizing Venmo Transactions

As a heavy Venmo person, I admire that Piere “seems to be 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” earnings. I primarily use Venmo to pay for a handful of providers, so I couldn’t check the reimbursement characteristic. Nonetheless, loads of Piere’s on-line opinions give accolades to this characteristic.

Shared Transaction, Sensible Reimbursement, Pooling Cash and Extra

Piere is doubling down on “shared” funds that don’t embody a big different. Pierre is positioning itself as a alternative for Venmo by permitting pals to share transactions and reconcile transactions throughout 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 to be at your entire monetary image. Pierre permits you to connect with conventional brokerages like Constancy, Charles Schwab, Betterment, Wealthfront, and Vanguard, and even some crypto exchanges reminiscent of Coinbase. These connections are used to trace your web price over time. It’s price noting that historic web price monitoring will likely be a premium characteristic, and customers should improve to Piere Plus to make use of this characteristic.

Are There Any Charges?

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

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

Total, Piere affords a sturdy, easy-to-use, easy-to-customize, and clever monetary administration platform. Piere’s free budgeting device is healthier than most premium budgeting instruments (though YNAB or Tiller could also be higher for these with complicated budgeting wants).

Piere’s web price monitoring device affords insights that rival the insights from Empower. Piere’s free choice could really be one of the best various to Mint.

To get the app, go to the App Retailer and obtain Piere or you need to use 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 possibly can 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 finances and web price, and categorize transactions. Proper now, Piere doesn’t require customers to enter a bank card to start out an account. This will likely change when Piere begins charging for Piere Plus.

Piere makes use of a third-party service to encrypt info and preserve 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 connect with the app. Total, Piere has glorious safeguards in place to attenuate the dangers related to id theft.

Piere’s headquarters is situated at 910 seventeenth St SE, Fort Lauderdale, Florida 33316. You may get in contact with the workforce by emailing contact@piere.com. In case you obtain Piere, you possibly can contact the event workforce by hitting the Gear Icon within the higher proper nook after which utilizing the “Contact The Crew” part. The location doesn’t at present present any cellphone numbers, and it doesn’t at present have a chat choice for customers.

Proper now, Piere is a wonderful app, and its product roadmap is promising. Personally, I’m desirous 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 present free, it’s properly price downloading. The budgeting characteristic is superb, and I’m impressed by the spending tracker.

When customers must pay for Piere’s premium options, the free model will nonetheless be price utilizing for most individuals. It’s an easy-to-use app that permits you to finances, spend, and monitor your funds simply.

Try Piere right here >>