After learning the principles of personal finance, I decided to start recording my expenses on-the-go and prepare periodic budgets. This is because I usually forget them at night and sometimes, I get too tired to start recording expenses one after the other at night. So, I decided to buy a cardboard paper and I divided it into small cards to enable it fit into my pocket.
So, I was often found with a small pink card anytime I was about making a purchase. People made jest of me quite a bit (Even now, I can’t help laughing at myself). Thankfully, “Money Lover” showed up on android to save me from such embarassing situations.
So, if you’re like me in keeping records of your expenses on a spend-as-you-go basis, then, you’ll love the “Money Lover” app. It helps you prepare your budget and record expenses as you incur them.
Here are the basic features of Money Lover:
- Categories: Money Lover allows you to categorize your all your transactions. Take for instance, money spent on food can be filed under the Food Category while income from your work can be filed under the Salary category. It is pre-installed with numerous categories. The good thing is that you can delete unnecessary categories and add yours. The categories also have icons to complement their names.
- Widget Support: One great feature of this app is that it has supports for widget. The widget shows how much you’ve spent or earned in a month. Hold your screen for 3 seconds, select Widgets and then select Money Lover from the list. This makes you conscious of how much of you’ve spent or earned.
- Multiple Accounts: Unlike some other finance apps that I have tried, Money Lover allows you create multiple accounts on your device. You may want to create a Personal Account and a Business Account if you’re a business man. This then implies that you can set different budgets for each account. You can even transfer money between accounts.
- Budgets: This feature allows you set a budget. It has support for daily, weekly, monthly, quarterly and yearly budget. This is one of the strong benefits of this app. It will alert you when you spend above your budget.
- Cashbook: This is a section where users can view either daily, weekly, monthly, quarterly or yearly transactions. It has also support for custom viewing. This makes it possible for you to track transactions between your choice time frame.
- Great and Simple User Interface: One thing I love about this app is that it has a user-friendly and beautiful user interface. The design is just cool, unlike on some other finance apps.
- Interest Rate Calculator
- Back up: Money Lover allows you to back up your databases to a SD card. There is also support for auto back up, but you’ll need to set it under Settings.
As a first time user, Money Lover will take you through a short series of important settings. This includes, Language, Currency and others. All these settings can be changed later. Another good part of this app is that it has the Naira symbol for Nigerians.
I must say that Money Lover is filled with numerous features than I can cover in this piece. Just try it out and I am sure you will love it.
Money Lover is free on the Android Market and also has a paid version (just $3.99). The paid version comes with a Bill Manager to help you keep track of your periodic bills. It also alerts you when a bill is almost due. You can also password-protect your Money Lover on the paid version among other benefits. The paid version is named “Money Lover Plus” on the Android Market.