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Must-Have 5 Features to Look for in an Expense Management App

It's important to monitor where your money is going. However, with so many things happening in our lives, it is common to lose control of spending. That’s why it is better to download an expense management app that helps you see what you spend, where you spend it, and how to save more.

But you know what? Not all apps are the same. So, you should be careful while choosing the right cost management app.

Now you would be thinking, how can I find the ideal app that can manage my money better, right?

Don’t worry! This blog will help you. Here, we have discussed 5 features that you have to check when looking for an expense management application in the market.

1. Intuitive User Interface

To begin with, no one really wants to spend more time figuring out how to use a personal finance tracker app when it comes to managing money. For this reason, a basic and clean design is essential. A good finance app makes daily tracking easy, not stressful. You should only have to tap a few times, at most, to add or view an expense. The more effort it takes, the less likely you are to continue using it.

2. Real-Time Expense Tracking

Next, to stay competitive, you need the ability to spend wisely and competitively on the spot. Real-time notifications keep you in the spending loop. You can receive alerts every time someone spends money, and approvers will also get real-time notifications to approve or deny fund requests. This allows you to maintain full control over company spending.

3. Budgeting Tools

Another key feature is budgeting tools. You may control your expenditure by creating monthly or customized budgets for every area. Additionally, it is a good idea to get notifications when you are approaching or have exceeded your budget. These tools encourage disciplined spending by reminding you to think before you spend, so you don’t blow your budget without realizing it.

4. Travel Budgeting

In addition to regular budgeting, when choosing a personal finance tracker, think about whether it includes a travel budgeting feature. Travel budgets are useful when you travel a lot or enjoy planning trips ahead of time. A travel budgeting feature allows you to establish a solid budget before hopping on a plane or heading out on a shopping spree, and will help keep you from going over budget. If you planned ahead and set your budget properly, you should also create a list or checklist relating to what you need to buy or book that will help you stay focused and organized with your spending.

5. Expense Predictions or Insights

Finally, an expense management mobile app should assist you with planning as well as tracking. The better ones provide insightful recommendations or trend analysis based on your previous purchases. AI is even used by certain apps to identify odd trends or places where you could be overpaying.  These insights can be quite beneficial if you're trying to develop healthier financial habits. They help you make better decisions and progressively enhance your money management skills.


Looking for a Smarter Option? Try Think True Cost 

You just examined the top five features to look for in an expense management app. 

With these in mind, why settle for a basic expense management app when an app can offer you all the above and more?


If you're still on the fence about which app to use, Think True Cost could be exactly what you need, especially if you are taking your financial situation seriously and not just tracking everything in the past.


While you can likely find apps that allow you to track your current and past expenses, Think True Cost goes all the way to consider the future cost of any item, be it electronics, a vacation, a new phone, or even real estate.


It’s the only finance app that considers forward-looking value-based tools such as:

  • Future Price Forecasting: Simply input the item, and you will see a realistic future price based on your planned purchase date and current savings rates.

  • Goal-Based Saving Planner: Create savings goals attached to your future purchases and let the app optimize your plan as the forecasting changes.


So whatever part of life you're currently in, a student saving for tech, a parent planning big purchases, or someone looking to be smarter with spending, Think True Cost will help you improve via data-driven action, before you start spending.
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