Keeping track of all your expenses can be quite the difficult -- but also rewarding -- task. While you can do it the old fashioned way, by keeping all recipes and do the accounting at home, modern gadgets and apps have opened up additional options that may provide you with better options.
While it is still necessary to enter the data, apps like Financius for Android may provide you with statistics and overviews that you would have a hard time generating on paper.
The free application for Android is an expense manager that enables you to keep track of incoming money and expenses, so that you always know the balance of all of your accounts, and also where the money went to in a given time period.
The application itself is really easy to use. You can start by adding a balance to your account, or multiple ones for instance bank account and cash, and use it from that time on to record expenses and income.
New transactions can be added with just a few taps on the screen. You do need to enter the money that you spend obviously, and may also need to change the time and date. Everything else is optional, including the selection of a category, e.g. food or leisure, the account it was paid from, a note, and whether the payment has been confirmed and should be included in the report.
You are free to add, edit or delete categories to customize the available selection. The app ships with several categories and dozens of expense types by default, but you may want to add your own in case those are not supported by it by default.
The main reason why it makes sense to do so is that the categories are used by the apps' reporting module. Here you find out how much you have spend in each expense group, which may help you optimize your expenses in future months and years.
Financius has a couple of other features that you may find interesting. You can back up the data to Google Drive or add expenses and accounts in different currencies.
There is room for improvement, no doubt about that. An option to scan receipts would come in very handy for example, as would an option to keep track of the expenses per person, so that it becomes clear how much other members of the family or business are spending.
Financius is an ad-free expense manager for Android that is easy to use. While you still have to remember to enter the data whenever expenses are made or money is transferred, it may help you keep an overview over all of your income and expenses.
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