Backing Up MoneyWell

Whether you've just started using MoneyWell or have been using it for many years, you've probably spent a long time entering lots of important financial information into MoneyWell.

Thinking about backing up that data now (before you need it) is really important.

For a lot of people, by the time they realise they need a backup, it's too late.

We recommend 3 levels of backup for your MoneyWell data:

  1. Local backup (against data entry errors)
  2. Off-computer backup (against computer failure)
  3. Off-site backup against physical threats to your data

Local Backup

If you're using MoneyWell 3, MoneyWell performs a limited version of this for you - every time you open the app, it creates a snapshot of your data before you make any changes. If you need to rollback to one of these versions we have a support article which helps you to do this (link at the end of this article). We hope that in a future version of MoneyWell we can make this process much easier.

Off-computer Backup

Backups from (1) are stored on your computer's drive. If your computer fails, these backups will be lost, so you need some additional form of backup - we recommend Time Machine which is built into macOS. It's very easy to setup, and if you plug in a new external drive, macOS will usually ask you if you'd like to set it up as a Time Machine drive. 

Apple have an article here with detailed information.

Off-site Backup

We hope it will never happen to us, but sadly, statistics say that some people will experience some form of physical data loss caused by fire or theft. In these cases, it's likely that your backups from (2) will not be sufficient. For this reason we recommend an off-site backup. 

One option could take the form of a Time Machine backup which you keep in the glove compartment of your car (downside - you have to remember to move it to and from there and keep it up to date). 

A more automated option would be to set up a backup with one of the cloud backup providers available. (Here is a comparison article of some of the services available). They usually charge a small monthly fee, and work by installing a menu bar app on your computer which monitors certain folders you specify and periodically uploading. In the even that your data is lost (for whatever reason) you can download an archive of your data. Some will even send you a drive with the data on (if you have a slow internet connection or need it really urgently).

Test your Backup

A final point to remember: Once you've got your backup system set-up, congratulate yourself, and then set a reminder in your calendar for a few weeks time to do a test restore of some data from each of your backup systems. Possibly more devastating than losing data because you didn't have a backup would be to lost data despite having a backup system because you haven't checked that it's working.

As always, if you have any questions regarding backup as it pertains to MoneyWell data, please get in touch and we'll do our best to help.

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