According to MX’s 2025 consumer survey, 24% of U.S. adults report using a spreadsheet or other manual process to track their finances. For many, Excel or Google Sheets seems ‘good enough.’ But as the number of accounts increases, data gets more complicated, and taxes come into play, manual tracking often becomes difficult to keep up with.

The real question isn’t if spreadsheets work—they do. The question is whether they can keep up as your needs grow. This article compares traditional spreadsheets with AI-based platforms like PortfolioPilot.com, examining factors such as cost, effort, responsiveness, and reliability.

Key Takeaways

• Spreadsheets provide full control but require constant updating and discipline.
• AI tools like PortfolioPilot automate data collection and projections.
• Both approaches can be free, but differ in time cost and reliability.
• Choosing between them depends on portfolio complexity, tax needs, and appetite for automation.

The Case for Spreadsheets

Spreadsheets remain popular for a reason:

• Full control: Every formula, calculation, and view is user-defined.
• Flexibility: They can be customized to track virtually anything.
• No fees: Free access through Excel (if licensed) or Google Sheets.

Hypothetical: A 30-year-old with two accounts and a simple stock portfolio may use a spreadsheet effectively. Each month, they enter balances manually, update returns, and track dividends. For limited scope, this system works well—though it depends heavily on discipline.

The tradeoff is time. Manual entry can introduce errors, and missing an update may distort results. Spreadsheets also don’t adjust in real time when markets move or account balances change.

The Case for AI Portfolio Tracking

AI-based platforms like PortfolioPilot automate much of that manual work and add layers of analysis. Rather than just showing balances, the tool provides:

• Automatic syncing with financial accounts (brokerages, retirement, banking).
• Portfolio health, such as concentration risks.
• Scenario modeling for retirement, inflation, or interest-rate changes.
• Tax optimization suggestions by account type and asset location.

Because PortfolioPilot is an SEC-registered advisor, it can also offer personalized insights within regulatory boundaries—unlike spreadsheets, which are only as good as the formulas users build.

At-a-Glance Comparison

When Each Approach Fits

Spreadsheets may remain practical for:

• Investors with one or two accounts.
• Those who enjoy building custom models.
• Situations where only occasional updates are needed.

AI portfolio tracking can be especially useful for:

• Households managing multiple accounts
• Investors focused on tax efficiency or retirement planning
• Anyone who wants regular updates without manual data entry

The two approaches are not mutually exclusive. Some investors maintain spreadsheets for personal templates while using PortfolioPilot to verify data accuracy and test forward-looking scenarios.

The decision is less about abandoning spreadsheets and more about scaling beyond them. For simple portfolios, spreadsheets suffice. For investors with growing complexity, AI tools can reduce errors, save time, and add forward-looking depth that spreadsheets alone cannot provide.