Budgeting With The Koody App

In our current climate, where it truly feels like every penny counts, budgeting, and living within our budgets, is more important that ever before. We need to keep track of our spending, to look at our outgoings in order to see where our money is going, and where we could make savings if we needed to. We also need to keep an eye on regular outgoings like bills, standing orders and direct debits so that we don’t get caught out by things leaving our accounts, or need to use a bank overdraft that will often lead to fees. The Koody App is a brilliant way of keeping all our spending, and I do mean all, no matter how big or small, in one place. And the most brilliant part of all this is that it doesn’t need to be connected to your bank account, keeping those precious details private.

How does it work?

You firstly download the app from either the App store or google play depending on your phone type (search for Koody, or Budget by Koody), set up your profile, and then it is manual all the way.

• You specify your total financial income for the month.
• You set the categories to state where the money goes – i.e mortgage, monthly bills, food shopping, eating out, paying off a holiday, clothes, children’s budget – literally anything, because this is all about you. You have up to 20 customisable budget categories, so if you personally need one for, for instance, pet expenses, or wedding shopping, you can add these.
• You then manually add your outgoings which can be specified down to the last penny, and you can also add information about them – the store, and maybe what the item was for. An example could be a birthday present for a specific person, something you wouldn’t buy every week but has to be taken into consideration.
• You can save your receipts to the app too, useful if you want to return something, and also very useful as many receipts are now sent digitally, and so can therefore be saved in one place, by date or store, rather than having to hunt for a particular email.
• You can preplan each month by adding known expenditure to your app.This can then tell you what you have available to spend each day of the month. This is a handy way to avoid using your overdraft as you can see, at the touch of a button, how much money you have left in your budget.
• You can set reminders for when money is due to leave your account so you don’t get caught out with unexpected outgoings.
• You can also set up a savings goal, which is great if you are saving towards a holiday, a new car or a wedding. The app shows you your progress towards your eventual total. This is both a good way of monitoring saving, and helps to give you that extra push.

I love Budget by Koody for its ease of use and the fact that it is all there, pratically, on your smartphone where you already seem to plan your whole life. It takes stress and worry away from trying to remember what you have to spend, and means that this app can be the remembering, and thinking, for you. It is a great way to budget at the touch of a button.

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