Tracking your expenses

BL RESEARCH BUREAU | Updated on January 07, 2014 Published on January 07, 2014

Want to track your expenses, but are allergic to MS Excel? There are many websites that can help. Trackeverycoin.com is one such; a simple tool to keep tabs on incomes and expenses. Signing up is free.

Expenses are divided into broad, common groups. Apart from the standard bills, food, fuel and groceries, choices also include health, travel, shopping and entertainment. Frequency of expenses can also be chosen to make it easier the next time an expense pops up.

Shared expenses — such as a group vacation or rent — can also be classified as such. Therefore, say you’re owed money from, or owe money to, your friends. It will show up separately in the budget overview, helping you keep tabs on erring friends. Incomes are similarly broadly grouped into salary, bonus, stocks and interest.

Bird’s eye view

Detailed reports of expenses and income, month-wise, quarter-wise, or year-wise, can be generated and downloaded. Also, the website has a ‘Dashboard’ which gives a bird’s eye-view of your total expenses and incomes, from which trends in spending can be easily deduced.

What the application does not offer is linking of bank accounts and inflows, requiring you to enter each amount. Expense and income heads cannot be modified to suit your purposes either, and you have to make do with the ‘Others’ category. Nor can you input details of your investments.

While the application can be run on desktop and mobile, the web application works best.

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