ciysys Expenses tracker
Dec 24, 2020 - released version 2.3.
ciysys Expenses tracker app is an iPhone app - a simple and
easy-to-use way to track your expenses.
Why do you need to track your expenses?
- To cut down the unnecessary expenses.
- To have a better control over the expenses.
- To have a better idea on how you spend your money.
Benefits
- Help establishing better discipline on money usage.
- Allows user to keep track your expenses and view the monthly summary in tabular format
and graphical format. You will be able to keep track and review your expenses either in
monthly or yearly basis.
- Allow better view over the expenses by grouping the transactions into three groups
Regular, Non-regular expenses or Fixed expenses.
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- Regular expenses - which happens everyday such as breakfast, lunch and dinner.
- Non-regular expenses - happens occasionally such as buying a gift and happy hour.
- Fixed expenses - expenses that are fixed with require weekly/monthly payment. For
examples, car loan, housing loan, smart phone loan, condo fee, monthly insurance.
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- With the above three grouping, you will be able to see how you should control over your
regular, non-regular and also the fixed expenses. In our experience, the non-regular
expense is a surprise but it can be minimize after using the expense tracking
app. Another challenge is to limit the long term fixed expenses.
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Device requirements
- iPhone only.
- iOS 13.0 or later.
FAQ
Why is tracking your expenses a good habit?
It allows you to know where your money goes and understand where and why
you have overspent. You can then take control of your expenses, spend wisely, and
get out of debt.
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How to spend less and save more money?
- Track your spending diligently.
- Scrutinize your spending by reviewing your credit card statements regularly.
- Consider buying at thrift stores.
- Cook and make your coffee at home.
- Make gifts instead of buying.
- Give second thought to big purchases.
- Review membership & subscription packages.
- Don't think of the shopping malls as entertainment.
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Why is it important to save money?
You will feel less anxious about money. It also allows you to enjoy greater
security in life to have an emergency fund to cover unexpected expenses such as
expensive medical bills (even if you have insurance), car repairs, or even a sudden
job loss. It's advisable to have enough money to cover at least three to six months
of expenses.
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How to save money effectively?
- Prioritize your expenses and find a balance between spending and saving.
- Track your spending regularly.
- Separate wants from needs.
- Plan accordingly for periodic purchases such as gifts and vacation.
- Go for the cheaper alternative if it provides comparable quality.
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Can you become rich just by saving money?
Saving money is great and a good start, but it won't necessarily make you rich.
It is about what to do with the money. To grow wealth, explore the areas in which you
can drive extra income; or set up investment by starting low.
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How do I plan my expenses?
Besides keeping track of expenses, starting a spending plan is just as
important to avoid overspending and save up. Here are a few tips to start off:
- Add up your monthly expenses such as rental, car payment, utilities and etc. (our
expenses app can help to keep track and review).
- Add up your monthly income.
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- Subtract your expenses from your income. Review and possibly trim the non-essential
expenses if you get a zero or negative number.
- List your priorities such as paying off debts, savings for emergency fund or
retirement or college.
- Adjust your spending until you are spending less than you make; or saving enough
to meet your financial goals.
- Keep your spending plan flexible by reviewing your plan and priorities every few
months.
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