We add a new Android app to our round-up each week, so check back for a new suggestion on Fridays. Got an idea for our list? Leave a comment and we’ll take a look.
APP OF THE WEEK: Skyscanner – All Flights
Stay on top of your finances with Expense IQ.
What is Expense IQ?
This app, from developer Handy Apps, tries to make managing your expenses and personal finance easy. With a clean layout and several useful features, Expense IQ will have you planning budgets and staying on top of your spending in no time.
Firstly, Handy Apps has used Material Design guidelines for the layout, so everything feels familiar and cleanly implemented. The main menu slides in from the left and is where you’ll access the various sections. Each section is clearly marked, which is helpful in an app that could easily become confusing, what with all the financial information and various features.
So what about those features? Expense IQ’s main components are the expense manager and budget manager. The former allows you to quickly enter any expenses you incur throughout your day by tapping the small plus symbol in the bottom right of the Overview screen – the default screen that appears when the app opens.
All you have to do is set up your account information, which involves simply telling the app how much you have in the bank and how much you have in cash. Any expenses you enter are then taken off the total amount.
The Smart Overview page makes it easy to see how much you have left in total, when you spent money, how much you spent, as well as any bills which are due. It’s also populated with helpful graphs and visualisations of your spending.
For those that want to stick to a financial plan, the app allows you to set a budget for specific categories. Say you want to only spend £200 on entertainment, you can set that amount as a budget for the entertainment category, then whenever you enter an amount for entertainment expense, as long as you categorise it, the money will be taken off your budget for entertainment as well as the total in your account.
It’s all very intuitive and takes minutes to get the hang of. Other features include bill reminders, which allows you to easily set alerts for when bills are due, the ability to backup and restore offline, a home screen widget, the ability to store photos of your bills and receipts and attach them to specific expenses, and much more.
While the interface is, overall, easy to get to grips with, I found it took a few minutes to figure out adding expenses and setting up accounts. It’s not a major drawback, as there’s more going on here than with other apps that concern themselves with less complicated tasks than managing your entire finances. But you might find it takes a little while to get the hang of things at first.
And, like most apps these days, Expense IQ also has a Premium version which will cost you. Going Premium costs £1.41 per month or you can pay a strangely specific price of £41.06 for a lifetime subscription. Signing up for Premium removes ads, gets you unlimited accounts and budgets, multi-currency transfers, cloud syncing, and a host of extra features. While the app is certainly worth a look, only those serious enough about keeping track of their expenditure will want to pay the monthly charge.
A well-presented and comprehensive app, Expense IQ is a no brainer for those interested in a mobile money management solution.
Score: 9 | Price: Free (Premium version £1.41 per month/$41.06 lifetime) | In-app purchases? No | Download Expense IQ
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