Although the field of personal finance has finite parameters and standard procedures, the truth is that most of us have our own method when it comes to managing our money. Unfortunately, your bad habits can cause problems not only with your personal funds; they can also extend to the way you handle yourself when it comes to your professional life. Consider, such as, that you make frequent business purchases (lunches, travel expenses, and so on). If you don’t have a corporate card you must track them on your own, and unless you are diligent about saving receipts and you have a system for storage and organization in place, you’re likely to lose out on some of the items you should be expensing (this is especially true of cash payments for taxi rides, tips, and so on). But whether you are trying to track your spending habits in your professional or your personal life, downloading the Expenditure app could give you a simple solution.
Don’t get the wrong idea here; this app is not meant for budgeting or complex financial calculations. It is merely designed as a basic tool to input information about spending for later reference. And for that purpose it is practically perfect. Even users that bemoan the lack of bells and whistles declare that the interface is the most user-friendly on the market for apps of this type and admit that the app does just what is advertised. But what exactly will this app do for you and why is it so useful when it comes to following your finances?
In a nutshell, this app allows you the basic functionality of inputting income and expenses as a means of tracking your finances. Again, it is not terribly comprehensive. For example, there is no easy way to export or print reports, you can’t see graphic depictions of your input (no graphs or charts), and although you can view an accounting of your income and expenses by category, there’s no good way to retrieve totals or compare figures over time. What it will do is act as a memory refresher and show you at a glance where your money is going. And there are a couple of handy extras along those lines.
While the app starts you off inputting numeric values manually, you may store expenses by category for organizational purposes and you have the option to create as many categories as you need. You can also take photos of items purchased or receipts to jog your memory or simply for later reference, and you can make notes, as well. Since you’re adding sensitive financial information, the app also allows for the use of a personalized password (in addition to the password you have on your smartphone). While you can certainly enter everything from monthly bills to payday loans Phoenix to Pittsburgh, the main strength of this app lies in its ability to help you track and organize expenses on the go. So when you use it for that purpose you’re likely to get the most out of its targeted functionality.
Thanks to Evan Fischer for this guest post. He is a freelance writer and part-time student at California Lutheran University in Thousand Oaks, California.