There is nothing quite like the feeling of being organized. Being in control certainly feels good whether it’s scheduling a dinner date or setting a reminder to purchase a carton of milk on your way home. Your money is not an exception to this. There’s an increasing number of finance apps that are available at your disposal, which means getting your finances in order will finally become less and less of a headache. Make it a habit and it’ll soon become a fun and fiscally responsible thing to do.
One of the exciting apps that will help you in managing your expenses better is Pennies. The stylish design is not just the only thing to love, but also the app’s ability to sync your input to iCloud. However, you have to manually record all your spending.
The Pennies app was developed by Ollie Aplin and Emile Bennett. Both are Brighton-based and the app is their way of sticking to financial budgets that they have set themselves. In the app, there are no graphs or charts. What you will get is a long list of budgets e.g. holiday or lunch. You’ll also know how much money is left with each category. Pennies has its own simple color system which will indicate how you are doing. Red means you have to slow down and green means you can still spend freely.
Since Pennies won’t link to your actual bank accounts, you’d have to manually input each expense once you make it. This, for some, is a major drawback, especially if you are strapped for time. Still, there is a need in each one of us to track our spending and this is definitely an excellent way to start.
What is good about Pennies is that you’ll be able to keep tabs on your spending habits. If you spend too much on video games, it will definitely reflect in the app. Pennies will set you on the much needed course of responsible spending.
With Pennies, you will be drilling your spending to the specifics: where your money goes and how frequently you spend on each category. You can add a new budget in the “My Budgets” screen. If you want to set a budget, it will only take eight simple steps that you’ll soon be accustomed to. The eight steps may be daunting to think about but the entire process only involves typing in a few characters.
If you plan to spend around $100 a month on video games, you’ll first have to create a gaming budget. For simplicity’s sake, you can name the category as “Video Games.”
The $100 will be for the entire month already. If you happen to change your mind, you can just reset the budget to weekly or as a one-off thing. You may be interested in keeping track of your payroll as well. That can be done within the app.
The last thing that we love about Pennies is that the app offers myriads of currencies. If you want to travel internationally, you can just change the currency. It’s that simple.
