Once upon a time, there lived a girl. She earned a few kilos of stardust a month, lived modestly, yet ended every month with a sad looking bank account. There weren’t any pots of stardust under the bed either. To investigate her spending pattern and find out where exactly her treasure went, she started logging it all into an excel sheet. It was monotonous, inconsistent and difficult to keep up with.
The said girl in the story above is me (in case you hadn’t guessed). I like efficient management options, and the excel sheet just fell about a mile short. I looked for other options, and found a few free mobile applications to manage my finances.
After test driving a few of them, I finally found one that fit all my requirement – My Finances. It is free (there are in-app ads but I don’t mind them), easy to use, can manage multiple accounts (I have current and savings), and shows monthly summary of income and expenses. There are predefined categories, with specific expenses under each of them – like under food category, there is supermarket, restaurants, general and every day. I can also add more categories and expenses if I want (say, cat food?).
I have been using MyFinances for over a year now and love it. It works wonders for budget management, and shows when I need to stop with ordering Chinese takeout. I have a current account and 4 saving accounts (personal, couple-current, couple-fixed, mister). I can automate recurring expenses, like rent and phone bills. There are statistics and charts as well, but I don’t use them. Summaries are enough for me to have an overview of my spending pattern. Lastly, I can also export my account, in case I need to share it with someone. This usually helps when N and I need to plan a holiday and take stock of our couple-current-savings account.
MyFinances is available on PlayStore, and has had over a million downloads. Before you ask, this is not a sponsored post. It is something that I personally use, love and wanted to share with you because I know others might be looking for something along those lines as well.
This is how I do manage my money, with Myfinances app. How do you manage yours? App or you can just wing it you are a wonder woman (like Mother India)?