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Loam vs Wallet by BudgetBakers
Wallet by BudgetBakers is a worldwide money manager with optional bank sync, cloud storage and AI receipt scanning through OpenAI. Loam tracks your savings, gold and investments as closely as your spending, with runway and a long-term forecast.
Feature by feature
| Loam | Wallet | |
|---|---|---|
| Price | ||
| Price | $30 a year or $3 a month | Free; Premium subscription or lifetime, varies by region |
| Free trial | 30 days, no payment details needed | A free Premium trial |
| Free plan | No, the trial is the free part | Yes, manual tracking |
| Ads | None | None |
| Privacy and your data | ||
| Account required | None, not even an email | Yes; email, Google, Facebook or Apple |
| Bank login | Never | Optional (Premium), through its own licence, Salt Edge or Yodlee |
| Where your data lives | On your phone, plus your own iCloud or Google device backup | BudgetBakers’ servers on AWS, in the EU or US |
| AI and your finances | Never sees your finances. Only a bank text format Loam has never seen goes out, until Loam learns its pattern | Receipt scans sent to OpenAI; opt-in link to Claude or ChatGPT |
| Analytics and tracking | None | Facebook, Firebase, Crashlytics, Mixpanel and MoEngage SDKs; its policy adds Google Analytics and Sentry |
| App lock | Face ID, Touch ID or fingerprint | PIN, Face ID or fingerprint |
| Export | CSV or JSON | CSV and XLS (Premium); not on iPhone |
| Getting transactions in | ||
| Bank sync | No, by design | Yes (Premium), 15,000+ institutions claimed |
| Bank text messages | Yes, read on the phone. Automatic on Android; a Shortcut on iPhone | No; logs Google Pay (Android) and Apple Pay (iPhone Shortcut) payments |
| Manual entry | Yes | Yes, free |
| Voice entry | Siri, without opening the app | Not advertised |
| Receipt scanning | No | Yes, AI scanning processed by OpenAI |
| Categorising | Merchant rules you set, suggested once you file a shop by hand twice | Machine learning plus keyword rules |
| What it tracks | ||
| Credit cards | Yes, with statements and installment plans | Limit and due day; no statement cycles |
| Deposits and CDs | Yes: interest payouts, floating rates and maturity | As savings accounts |
| Stocks and ETFs | Yes, with average cost and gain | Yes (Premium), prices updated daily |
| Crypto | Yes, priced for you | Yes, in the investment portfolio |
| Gold and silver | Gold by karat and silver by fineness, priced off spot | Not advertised |
| Property | Yes | Manual value as an other asset |
| Loans and mortgages | Mortgages, loans and installment plans | Loan and mortgage accounts |
| Currencies | 80, and totals also readable in a steadier one, such as USD | Per-account currency, rates updated nightly |
| Planning | ||
| Budgets | Monthly category budgets, tagged needs or wants | Category, account or label budgets per period |
| Spending insights | Per category, five months back, with what to do | Charts, cash flow and trend reports |
| Net worth over time | No; the forecast looks forward instead | Balance trend across accounts |
| Long-term forecast | 5, 10 or 20 years of your deposits and investments, with your own return per holding | Short-term, from planned payments and past averages |
| Inflation-adjusted view | Consumer prices, monetary debasement and currency devaluation, filled in for you | Not advertised |
| Runway | Yes: months of your budget the assets you choose would cover | Not advertised |
| Savings goals | No goals; a monthly savings target and savings rate | Yes, Android only |
| Recurring charges | Spots monthly charges, their yearly cost and when one goes up | Planned payments with reminders |
| Everyday use | ||
| Apps | iPhone and Android | iPhone, iPad, Mac and Android |
| Web app | No | Yes, with fewer features |
| Sharing with a partner | No | Group sharing with per-account permissions |
| Notifications | None, ever | Bill, budget and balance alerts |
| Languages | English and Arabic | 48, including Arabic |
| Where it works | Anywhere, with banks that text in English or Arabic | Worldwide; bank sync at 15,000+ institutions claimed |
Which should you pick?
| Wallet is stronger at | Loam is stronger at |
|---|---|
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Pick Wallet if you want bank sync, a web app and sharing across a household. Pick Loam if you want to track savings, gold and investments as closely as spending.
More comparisons
Try Loam free for 30 days.
In beta now on iPhone and Android. No account, no bank login, no payment details for the trial. Then $30 a year or $3 a month.
Wallet by BudgetBakers details are taken from its own website and app store listings in September 2026 and may have changed since. Wallet by BudgetBakers is a trademark of its owner; Loam is not affiliated with it.