When it comes to management of our expenses, we almost always fail. The reason we have been unable to keep tabs on where our money goes is because we don’t have any tool that can tell us where we are actually spending our income. Some personal finance apps were made available but they were so complicated that the people like me couldn’t even understand how to use them. Fortunately, that’s not the case with the latest finance app called Penny. It’s a great new addition to the market – one that was very much needed. Lack of easy to use finance apps on both iOS and Android was mind boggling, but Penny personal finance app improves on every aspect of the old finance apps and brings some new additions to the table.
This app functions like a messaging app. You send Penny, the in-app bot a message telling it about your expenses and it gives you an opinion in return. Initially, you will have to mention how much you are making and how much of it are you spending. You will have to be a bit specific though as you will be asked how much expenses are incurred on regular stuff like food or travel. These are basic necessities, so there is very little you can do to lessen it. However, Penney finance app will still guide you into using your money wisely. It will look at what you have been doing and how much you have been spending, and then you will be given recommendations in accordance. For example, if your food expenses are higher this month as compared to what they were previously, then the app would advise caution.
The app does take some getting used to, but due to its simple functionality, it is accessible for everyone. Even if you don’t possess technical knowledge, you can still make use of it with ease. App also needs some time to get acquainted with your spending and saving habits, so give it some time. Once it knows your regular spending, it will be able to guide you in a better way. It will let you know that you are exceeding the budget or it will tell you that the expenses on travel or food can be minimized and other stuff like that. It’s like having a personal account manager who is always keeping an eye on your expenses and advising you in accordance.
Although Penny personal finance app is brilliantly designed, it does have one major flaw which developers are currently working on. At the moment, it doesn’t understand most of the manual commands given by the user, which makes it somewhat limited. However, developers have assured that they are working on this very feature, and will introduce it into the app in the near future. Until then however, you have to rely on the simple commands that are currently available to get the job done.