Managing money is one of the most essential skills we should be good at. Schools and colleges should make it mandatory for everyone to learn this skill. If we are guided on saving and investing, we can solve most of our money problems efficiently.
But, if you are like me, who learned this information late, this app can help you be better. If we take baby steps to solve our problems, we can achieve more in the long run. The first step in finding a solution is to see where the problem is. And the apt way to understand your financial solution is by tracking where you have spent the money.
There are so many apps in the market that would help you track your finances. One among them is Monefy. I like Monefy because instead of the app automatically reading my messages, I enter the details manually to track my expenses. Yes, it takes a little effort to type all the details, but it is good because each time you open it, you can see how much balance is left.
If you think, Why should you enter the details when other apps can easily read the messages and input the data? Well, it varies from person to person, but here are some factors. One, the app does not track what you spend or where you spend. Two, it’s better you input the details as you become more aware of your expenses.
The app shows your spending visually, and you can filter it based on days, weeks, months, years, or custom time intervals. It also has pre-fixed categories. You can add a custom spending mode like a card or cash, set your desired currency, etc. Monefy also has a premium version that has more flexibility in features and comes with a dark mode. You can also synchronize with Dropbox or Google Drive.
Budgeting can be a headache, but Monefy can help you by adding your specific budget and tracking it with each spend. The app will reduce your effort by synchronizing data across devices if you have multiple devices. And the UI is straightforward to input spending at any moment. One more thing that has helped me is the widget. I keep the widget on my home screen, so I am always aware of my expense and add data from the home screen.
These are some of the features that helped me choose Monefy. But, if you are not interested in adding another app to your phone, you can also use your private bank apps to track the expenditure.
Also, a book that has helped me a lot is the Psychology Of Money. I recommend reading it, as it will help you to handle your finances.