FYM - Spender

Who wants to Budget? Not Me!

Money comes in from your pay cheque, but doesn't it seem like you should have more left over at the end of the week? This app can help figure where it is all going, keeping it simple at the same time.

In less than 3 seconds you can log a payment you made and continue about your day

Buy an Item, open the app, select a category, type in the cost of what you purchased, and press the log expense button. That's it! One step closer to figuring out where all your money is going.

The app tracks your spending in 3 simple categories. Bills, Wants & Needs. Instead of 400 different categories like some other budgeting apps (clear exaggeration). A 4th category to track money you didn't end up spending as well to give you a nudge to save more!

Let's get to it

Bills are things that reoccur, wants and needs are up to the discretion of the user. This is because what one person may call a need, another may call a want.

Bills
- Things that are reoccurring weekly, biweekly, monthly, bimonthly, yearly, etc. They are often automatic, but in some cases, you need to pay them manually. This does not include credit card bills since a credit card bill can include bills, wants, and needs all in one place.

Some examples of Bills
- Mortgage/Rent
- Phone bill
- Internet bill
- Netflix
- Disney +
- Amazon Prime
- Utilities (even though they may vary from month to month)
- Car payments
- Property taxes

Wants
- Wants are easy. Do you want that bag of chips? how about that Chocolate bar? A magazine perhaps? Corvette anyone? Things you want, but don't necessarily need. But if you do need that bag of chips because a bear is chasing you and the only way to throw it off your trail is to throw a bag of chips in the opposite direction, then buy that bag of chips and select needs instead of wants.

Some examples of Wants
- Lunch out, instead of lunch made from groceries
- Coffee out, instead of coffee bought in bulk and made at home
- A second pair of running shoes
- Another purse
- Another hat
- A chocolate bar at the checkout
- A magazine
- Another toy for your little one
- A new iPad

Needs
- These are things you can't live without but are not reoccurring (covered by bills).

Some examples of needs
- Food from a grocery store
- Gas for your car
- Hair cuts
- Tylenol for your children
- Diapers
- Wipes

Saved
- These are the ways you saved money. Used bonus points to cover some of the cost of an item, log it in the "Saved" category. Went into a store with the intent of buying some chips and decided it wasn't worth it, log it under the "Saved" category. This category is where you can see yourself making steps to save more money.

With this information a user can track and analyze where the heck all their money is going.

Alternately they can send it to the creator - Info@FreeYourMoney.ca and have it analyzed along with additional data provided by the user. Or send it to yourself or a financial advisor for further analysis

Have you found other budgeting apps too complicated, or that they request personal information? Do you feel comfortable sharing this information with 3rd parties?

Let’s keep it simple, 4 categories used to start finding where your money is going.