Article by listed Accountant Nadeen Rajin
App Name: EZ Expense Manager
Version: 2.6.8 (Android), 3.2 (iOS)
Developer website: https://sites.google.com/site/expensemgr/
Platforms: Android, iOS
Size: 12MB (Android), 19MB (iOS)
Expense Manager is an expense tracker and budget tool.
It is a free application containing full features, no hidden charges nor any in-app purchases.
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My experience using the App:
I am definitely not an “App Hoarder”. I am one of those people who try to keep the number of applications on my phone to the least, as far as possible. I will delete an application if I haven’t used it for more than 3 months!
So I suppose it is safe to say that having kept Expense Manager for about 4 years means it is definitely worth the download.
The app has gone through a number of updates over the years and I must say that it has just gotten better each time, with improved or added features.
I have used this app to record and keep track of my income and expenses. The app does have a budget tool, which I personally don't find too helpful. It would be great if the developer could provide more advanced budgeting tools. At the moment, you can only set a budget on total expenses, and not per category of expense.
In order to benefit from Expense Manager, you need to record your daily transactions on a regular basis. This requires diligence and discipline. So, say, at the end of each day, set aside 15 minutes of your time (should take less than 15 minutes) and record all of the day's income and expenses. Of course, you could do this exercise weekly or monthly.
Once you have captured your information, you will be able to view the data in the form of a bar graph and pie chart, comparing expense by category (food, clothing, utilities, household supplies, etc.),and income by category (salary, interest, dividends, etc.). This will allow you to see which category of expense needs to be cut down on.
You can add more than one bank account in the app and even record transfers between accounts. After recording your data for the day / week / month, ensure that the balance on app reconciles back to your bank statement, this will give you more of an accurate indication of your expenses.
Some additional cool features are a shopping list, interest rate calculator and a calculator.
You can even protect your personal information by setting a password on the app.
For a more detailed guide and step by step tutorials on how to use the Expense Manager app, visit the developer's website above.
Pros: great for tracking income and expenses, and is easy to use
Cons: budgeting tool not very useful
Expense Manager is an excellent application which allows you to record and track your income and expenses, which is handy especially for those who want to manage their personal finances.