Copilot is a relatively new personal finance app that takes a comprehensive approach to tracking your money and investments. Launched in 2019, it is only available for iOS and Mac devices, with no Android or web version yet. The app connects to over 10,000 financial institutions to automatically import all your transaction data. It uses artificial intelligence and machine learning to categorize each transaction and provide insights into your spending habits.
One of the key features of Copilot is the ability to set budgets and track your spending against those budgets. The app examines your historical spending to create realistic budgets tailored to you. It allows rollover of unused budget amounts month-to-month, so you can save up for larger irregular expenses. The budgeting dashboard clearly shows how you are tracking against your budgets in each category, with warnings if you are at risk of overspending. You can drill down to see detailed transaction info. The app also detects recurring transactions like subscriptions and organizes them into an easy to view monthly calendar.
In addition to budgeting, Copilot provides an integrated view of all your investment and retirement accounts. You can add property, mortgage, and other loan accounts to track your overall net worth. The investments section shows performance metrics and benchmark comparisons across all linked investment accounts. You can customize the investment widgets to focus on the details most relevant to you. The app also supports linking cryptocurrency accounts from places like Coinbase.
One unique aspect of Copilot is the focus on user experience. The interface is clean, simple, and visually appealing while still providing powerful features. You can customize notifications to only receive the alerts important to you. The app has light and dark mode options. There are quick glance widgets available for the home screen.
As a subscription service, Copilot costs $8.99 per month or $69.99 annually after a 1 month free trial. This covers the costs of connecting to financial institutions and maintaining the app’s infrastructure. The company emphasizes that it will never sell user data. Security is a top priority, with bank-level encryption and authentication safeguards like multi-factor authentication and FaceID login.
User reviews praise the easy learning curve, intuitive interface, and customer support. The main complaints relate to the cost given competing free apps and issues getting some financial accounts connected. But most say the price is worthwhile for the quality app experience and useful money management features.
Overall, Copilot aims to be a premium personal finance app focused on the full financial picture. It combines budgeting, investment tracking, net worth, and more into a user-friendly package. The AI-powered insights provide unique value. While the subscription cost is higher than free competitors, Copilot differentiates itself with smoother onboarding, better categorization, and a more pleasant interface. For those seeking an all-in-one finance app with automation and guidance, Copilot is worth considering.