There are only two types of people in this world, those who download the Expenses Manager and those who don’t care about their money. 😉
Since you care about your money. This article will look into how you can integrate EM into your life and make the most out of its potential.
Getting Started
Before we go any further let’s get the basics done. You already have 18 default categories including both income and expenses, either you can choose to work with them, or you can create or edit categories to suit your needs. The same goes for accounts.
Beginning of a month
If you aim to be aware of your money Budgeting is the game-changer. To know more about the ideal way to create a budget, we recommend you to check out our article on 50-30-20 rule.
Once you’re clear about budgeting, go to the budgets section and create a new budget. For proper management, you should set it category wise too.
Track-Track-Track
Any app or website or even your diary, can’t help you unless you decide to help yourself and stay dedicated towards your goal. Track each transaction, expense, income, or a transfer, under the intended category.
If you want more categorization options you can make use of tags. Tags offer that and so much more. Read more about tags here.
One thing we get from some of our users is the request to read their SMS for automatic tracking. Do we have any plans to offer that?
Well, NO.
At expenses manager, we value your privacy. Your financial data never reaches our servers. A part of this privacy policy is to respect the confidentiality of your text messages. Also, the whole point is actively being aware of your transactions. If they get added automatically, then what’s the point?
However, we do have something to ease up your work, Reminders.
Reminders can ease your work!
Reminders ease up your work without taking away the ‘being aware’ thing. Suppose you set a reminder for milk, you’ll add a transaction like usual, with the amount, category, payment mode, and all of that. Then you’ll set the frequency of reminders to every day and the time to 7 am.
Now, you’ll receive a notification for milk every day at 7 and all you have to do is to click the “add transaction” button from the notification itself. You no longer would have to add the details every time anymore!
Keeping an eye on your budget
Every Sunday we remind you to take a look at the past week to see how your budget is doing.
Check out the weekly analysis page to see your past week’s performance. You should also check out the spending trends to see what our algorithm has to say about you.
You don’t have to worry about overshooting your budget. We will send you a timely reminder if you’re likely to overshoot your budget before month-end.
Ending of the Month
Finally, it’s the time of the month to review our financial sins!
Head towards the Monthly Analysis section to see where you spent the most and least of your money. If you made it within your budget, Congratulations! You can easily copy this budget for the next month too.
If you didn’t make it in your budget then did you overspend or did you make the budget too tight? If you made the budget too tight, then don’t worry the next time you make your budget we’ll remind you of how much you spent in that category last month for your reference. But if the budget was fine and you did overspend, well then, what is our analysis for? Realize and adapt. Once you have gone through the analysis, you can also make a pdf report of it.
In the end, it’s all about being aware of your expenses and be able to track your monthly cash flow seamlessly. We help you analyze your budget and spending habits so you can make better decisions, be it in budget making or while spending.
