Hardbacon Review

**This post may contain affiliate links. I may be compensated if you use them.

Finance and budgeting apps are nothing new for Canadians, however, there is one Canadian fintech company that is quickly making headway with the versatility of their app.

Hardbacon has been available since 2018. Their mission is to help Canadians make better financial decisions and to become wealthier day after day. Every app has a similar mission, so what really matters is if the app lives up to the hype and if it’s the right fit for you. In my Hardbacon review, you’ll find out how the app works, how much it costs and why it’s unique.

Hardbacon review

What is Hardbacon?

Hardbacon synchs all your accounts (banking and investment) allowing you to view and compare everything all in one space instead of having to log into multiple banking accounts and track things on your own.

Not only does this app let you see everything in one place, but it also provides you with a lot of additional data and information to help you make smarter and better choices about your investments and finances. For example, the Hardbacon app analyzes your portfolio to let you know if you are paying any hidden fees. 

The goal is to provide Canadians with the right financial information so that they can take control of their personal finances and become wealthier by investing.

Hardbacon overview

So, how does Hardbacon work? It’s pretty easy and can be done in three simple steps: Plan, Budget, and Invest.

Plan – Once you link your bank and investment accounts to the app, Hardbacon will be able to help you come up with a strategy to help you reach your financial goals, such as retirement, buying a new car or a house, and more.  For example, they’ll recommend you use your TFSA or RRSP and how much to save each month.

Budget – Hardbacon shows you exactly where your money is going; what category you are spending the most on, the businesses you spend the most at, recurring expenses and more. Having this information on hand can help you figure out where to cut costs and create a realistic budget that you can stick to.

Invest – Hardbacon has all the data you need to help you make smarter decisions regarding your investments. This information can be used for independent investors as well as those working with a financial advisor. With this data, you should be able to reach your goals quicker.

Hardbacon is updated regularly with new additions every week to better help you in terms of providing personalized suggestions as well as investment ideas. Also, Hardbacon users will get access to exclusive offers on a variety of financial services.

Hardbacon costs

Hardbacon switched their approach after the COVID-19 Pandemic hit and made the basic aspects of their app free to all users. The free version allows users to analyze expenses, cut costs, and set financial goals.

There is also a premium version which does come with a fee, either $12.99/month or $99.99/year.

If you use my Hardbacon promo code MONEYWEHAVE, you’ll get 10% off a premium subscription. The promo code must be used by subscribing through this page: https://hardbacon.ca/app/

Hardbacon Premium

For those who want to take their Hardbacon accounts a step further, you may be interested in upgrading to the Hardbacon premium account which lets you more options such as.

Link all your investment accounts – Keep track of your RRSPs, TFSAs and more all in one place. There is no limit as to how many accounts you can link.

Link all your bank accounts – Again, there is no limit to how many bank accounts you can link to get a better overview of your finances.

Get access to tools to help increase your returns – This includes a portfolio analysis, portfolio score, return calculation, and premium financial data. Think of it as a financial advisor in your pocket.

Add unlimited goals – To help you better plan and reach your goals faster.

How does Hardbacon compare to others?

There are plenty of finance apps on the market right now to help Canadians save, invest, and budget. However, many of these apps focus on only one of these aspects.

Budgeting apps are quite popular among Canadians, and there is no shortage of options. That being said, most of them are limited.

Mint is a top-rated budget app and allows you to link up all your financial accounts (banking, credit card, investments) to get an accurate picture of your money and where exactly it’s going. While this is ideal for creating a budget, the app stops there. It doesn’t have any investment options.

On the other hand, both  Mylo, STACK and KOHO are great for round-up savings.

While you can link some of your accounts to some apps for the purpose of investing, they won’t give you a complete overview of all your assets and investments like Hardbacon does.

Hardbacon combines budgeting and saving/investing into a ‘one-stop-shop’ type of app that allows you to do it all.

Hardbacon review final thoughts

Being able to keep all of your banking and investment accounts in one app makes life a whole lot easier for all kinds of finance-related tasks, even if it’s just something as simple as trying to come up with a practical budget or creating a retirement plan.

Keeping track of all your accounts and making smarter investment decisions is much easier when you have everything in one place, which is exactly what the Hardbacon app will allow you to do.

About Barry Choi

Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances. His blog Money We Have is one of Canada’s most trusted sources when it comes to money and travel. You can find him on Twitter:@barrychoi

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