First Look: Money in Excel Powered by Plaid

Money in Excel

Microsoft and Plaid have teamed up to offer “Money in Excel,” a new spreadsheet-based app named for the classic personal finance software.

The way it works is straightforward. Individuals link their financial accounts to Plaid. They can then track those financial accounts in Excel. (Similar to our product Tiller Money Feeds for Google Sheets.)

According to the announcement from Plaid, Money in Excel will include a “Monthly Snapshot” sheet with personalized charts and graphs. It also provides options to add templates for expenses, net worth, and more. 

Microsoft says “Money in Excel gives you the tools to help you achieve your financial goals.” 

Money in Excel

Money in Excel is included with the new Microsoft 365 Personal and Family subscriptions starting April 21. Microsoft 365 is a new subscription service that replaces Office 365. 

An actual release date for Money in Excel is not yet set, other than it will become available in the coming months.

Microsoft 365 subscriptions will be priced at $6.99/ month ($84/ year) for a Personal subscription and $9.99/ month ( $119/ year) for a Family (up to six people) subscription. 

Plaid will connects 11,000 financial institutions to Microsoft Excel as part of a Microsoft 365 subscription.

Tiller Money uses Yodlee to connect over 21,000 global financial data sources to Microsoft Excel and Google Sheets.

“One of the earliest forms of “fintech” is a budgeting spreadsheet.”

Plaid

Tiller Money vs Money in Excel

Update May 2020

Many people have inquired about the differences between Tiller Money and Money in Excel. We will offer a detailed comparison and in-depth review when Money in Excel is available.

To learn more about Tiller Money Feeds for Excel, click here.

For now, we put together a quick grid to show some of the differences.

FeatureTiller MoneyMoney in Excel
Direct Financial FeedsYesYes
Option to use both Google Sheets
and Excel with one subscription?
YesNo
Subscription fee?$59 year for Google and ExcelMicrosoft 365 Personal account will be $6.99/ month, $69.99/ year, Family plan is $9.99 per month, $99.99/ year
Number of institutions supported21,0009,500
Support to add feeds to your own Excel templateAutomate any Excel 2016 spreadsheet installed via an Office 365 with Tiller Money FeedsUnclear. Microsoft says “Money in Excel is a premium template”
Category engineCreate your own rules or use Tiller Money’s hints.Microsoft hints but no custom rules
Money-back guaranteeYesNo
30-day free trialYesNot currently
Customer support?YesNo
Dedicated community support?YesYes
Available today?YesComing summer 2020

Tiller Money’s Founder Peter Polson on Money in Excel

“This is a huge validation for the uninitiated that spreadsheets are an amazing way to manage money. Not a fringe solution, but with Microsoft’s endorsement it’s a very mainstream solution. (Of course you already knew spreadsheets were great – but many people still don’t.)”

“I smile because my job working on Microsoft Money in 1994 was the seed crystal that started Tiller Money. By 2015 or so, I was wondering… ‘why hasn’t the state of the art for personal finance evolved much since Microsoft Money circa 1994?’ With that we created Tiller Money. So, welcome back Microsoft!”

“Our team is fired up with the founding mission that got us here. We want to empower people with great personal finance solution in their spreadsheets, great templates, a dynamic community, and a business that promotes the privacy and security of our customers’ data. All of this is in service to giving our customers more control over their money, their lives, and their futures.”

“As a company, we are always excited to see spreadsheet-based innovations for tracking personal finance. It’s an exciting time for fintech and personal finance enthusiasts.”

Join the conversation about Money in Excel in the Tiller Money Community.

About The Author