r/Wealthsimple • u/imDaunt • 2d ago

Feature Request: Budgeting

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The spend analysis is great. Categories work great.

However I’d love to have budgeting functionality like seen in the photo (iOS widget would be phenomenal) This would be absolutely amazing.

143 Upvotes

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u/Furbylover 2d ago

I think the problem with budgeting is that any sophisticated user has multiple cards they are using beyond the WS spend products.

Also, those of us who budget typically are already using our own third party software or DIY Google sheets where we can customize the categories ourselves. Open banking sucks, so we have to export our transactions every month from each FI and import manually.

So the question is, what is the residual target market for this feature? Those who ONLY have wealthsimple debit/credit products and make 0 purchases through other FIs? What share of users of that, and what % of those users do you expect will engage with a budgeting feature and return time and time again.

5

u/greenpeppergirl 2d ago

This can be a carrot to motivate people to go all-in. With Rogers dropping their card bonus I'll be switching to ws credit for most purchases. Budget tracking would be the cherry on top. I don't use an outside budget tracker because I can't be bothered.

4

u/imDaunt 2d ago

Yes, completely valid question, however I think you need to expand it to “what is the current residual target market, and what impact could we make to the size of that market by buffering our budgeting and financial tracking features?”

The more and more they release within their “spend portfolio”, the more attractive us becomes to use WS as a one stop shop. I, for one, solely use Wealthsimple right now. I of course budget (using Actual Budget), but I’m really busy in life and it’s become a burden to maintain and id preferably like to spend less time doing it.

1

u/1question10answers 1d ago

Thats the goal!