Finance Apps vs Spreadsheets: Which is Better for Tracking Money?
Apps vs spreadsheets for budgeting — we tried both for 30 days. The winner surprised us. Here's the honest comparison for NZ.
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Every personal finance discussion eventually hits the question: "Should I use an app or a spreadsheet?" The answer depends on what kind of person you are — your spending personality type plays a big role.
The spreadsheet case
Spreadsheets give you total control. You design the categories, the formulas, the layout. Nothing is hidden behind an algorithm. For people who enjoy building systems, this is genuinely satisfying.
Works best for:
- People who enjoy data and formulas
- Those who want complete customisation
- Anyone who likes spending Sunday mornings tweaking pivot tables
The catch: Spreadsheets require manual data entry. You have to download CSVs from your bank, paste them in, categorise transactions, and update formulas. Most people do this enthusiastically for 2-3 weeks, then stop.
The dropout rate for manual financial tracking is around 85% within the first month.
The app case
Modern finance apps connect directly to your bank and do the data entry for you. Transactions flow in automatically, get categorised by AI, and your spending picture builds itself.
Works best for:
- People who want insights without the work
- Anyone who's tried spreadsheets and stopped
- Those who check their phone more than their laptop
The catch: You're trusting a third party with your financial data (though open banking in NZ is regulated and read-only). And you lose some customisation — the app decides how to categorise "Countdown" (groceries) vs "The Warehouse" (shopping).
The hybrid approach
Some people use both. An app handles the automatic tracking and daily "safe to spend" number, while a spreadsheet handles longer-term planning (retirement projections, mortgage scenarios).
This gives you the convenience of automation for day-to-day decisions and the flexibility of a spreadsheet for big-picture planning.
The NZ factor
In New Zealand, the app ecosystem is smaller than the US or UK. Your main options for apps that actually connect to NZ banks are Steady and PocketSmith. Both use Akahu for bank connections. See our full NZ budgeting apps comparison.
Spreadsheet templates designed for NZ (with fortnightly pay cycles, KiwiSaver, and NZD) are harder to find — most templates online assume US tax brackets and monthly pay.
Bottom line
If you've tried spreadsheets and they didn't stick, that's not a character flaw — it's a data entry problem. Try an app that automates the boring bits. If you love spreadsheets and actually maintain them, keep going.
The best system is the one you'll use consistently. Everything else is noise. Compare your options.
Written by Sam Wilson
Founder, Steady
Sam is a New Zealand founder building Steady — a personal finance app designed for Kiwis, integrated with every major NZ bank via Akahu. He writes about money, bank integrations, and what actually works for everyday New Zealanders.More about Sam
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