Managing Your Spending with Yomaney Right on Your iPhone
Yomaney is a comprehensive budgeting app for iPhone that makes it easier to keep track of your spending habits over time. Users can set up budgets, record bank transactions, add expenses or income, and generate in depth reports to help manage their money every day of the week.
In order to use the app you’ll first have to sign up for a user account by entering your details in a standard sign up screen. Once your account has been created you’ll be prompted to add your default bank, cash account, and default credit card. You can then specify the amount in each of your accounts, add an allowance, description and type of account i.e. assets, cash, checking, savings etc.
In the home screen you’ll be able to see the total amount of unpaid bills, upcoming payments, and cash balances in your accounts. Swiping across your screen opens up a secondary menu containing links for viewing your expenses, income, money transfers, budgets, and other transactions you’ve made in a certain time period.
Despite being able to support a lot of different transaction types, this app does require a bit of bookkeeping on your part for it to be a useful tool in your everyday life. There isn’t an automatic transaction update feature that connects to your bank account so most of the transactions you enter will have to be added manually. While this can be time consuming, it does make this a good tool for crosschecking your expenses and income when filing your taxes.
Yomaney is compatible with iOS 5.0 or later and costs $0.99 from the iTunes app store.