Spense is an easy, quick, and simple way to keep a journal of your day-to-day spending. Set a spending target and a repeat cycle, and each transaction you enter is immediately deducted from your balance. Available on the iTunes App Store for iPhone and iPod Touch, this app is free to download. To share a spending journal with multiple users, a subscription for $1.99 per month for unlimited users is available.
This app is not complicated. It won't link to your bank accounts or allow you to pay your bills. It is a simple, easy way to keep up with your daily spending without having to carry around loads of receipts. With a few steps, you can see where your money is going each month.
"The reason this app works is because it is so simple. There is no need to come up with a complicated budget. By tracking what you spend, you see where you can save," says developer Craig Coleman.
Spense comes with a pre-set list of categories, but it allows you to set up new categories or delete ones you don't need. The user also can add, edit, or delete transactions. Click on the charts tab to see a graph of your spending by category and click on the transactions tab to see a list of all transactions for the cycle.
The individual form of the app is free. Want to share a budget with your spouse or family members? Subscribe to Spense Sharing and for $1.99 per month, you and an unlimited number of partners can share a spending journal with unlimited synced transactions. Subscribers also receive an email at the end of each cycle that includes all of the transactions for that cycle, a graph by category of spending and a .csv file that can be downloaded to the user's computer.
For example, say you and your spouse want to try to keep your daily spending under $1000 every two weeks. Download Spense and set up the subscription service. Set up your categories, spending target and repeat cycle and you are ready to go. Each time either of you spends money, enter it quickly into Spense by typing in the amount and picking a category. The amount is instantly deducted and all users can see the remaining balance. It's as easy as that!
Spense is a development of Irinhawk, LLC, located in Clemmons, NC. Developer Craig Coleman designed the app originally for his family, and realized quickly that all families who are trying to save money would benefit from it as well. Allowing the single version of the app to be downloaded for free will give everyone the opportunity to try Spense and see how much it helps them month to month.
