This past month I have been building a financial app designed to help people visualize monthly expenses. This past weekend I finally finished the app. It’s called Wovelo and it’s completely free to use.
Here’s how it works. You enter the name, amount, category, and date of an expense and hit ‘Add’. This automatically creates a little circle to represent that expense:
The size of the circle represents the amount of the expense and the color represents the category of the expense. Each time you enter a new expense, a new circle is created and the “Total Monthly Spending” amount is also updated.
To showcase a real example, I downloaded and entered all my expenses for the month of September:
Now here’s the coolest part of the app: You can dynamically sort your expense by amount, category, or date.
Sorting Expenses by Amount
The most basic question one might have about monthly expenses are: what were my biggest expenses this month? Sorting by amount allows me to see that my rent payment was by far the biggest expense I had, coming in at $611. The next largest was my utility bill, coming in at $80. I can easily see that all other expenses I had throughout the month were relatively small in comparison to my rent.
Sorting Expenses by Category
Another interesting question might be: what types of things did I spend money on this month? Sorting by category instantly allows me to see that I spent money frequently on dining out (the yellow circles) and buying groceries (the light purple circles) :
I can see that most of my dining out expenses were in the $6 – $8 range, except for one coming in at $16.63 (it turns out pizza dates are more expensive than Chipotle with the bros). I can also see that most of my grocery bills were in the $30 – $40 range.
Sorting Expenses by Date
Lastly, sorting by date allows me to see when I spent money throughout the month.
I can see that at the beginning of the month I had the big rent payment, then I spent very little during the middle of the month, and more towards the end with groceries and the utility bill.
Check It Out
If you’d like to use the app yourself, head on over to wovelo.com. It’s completely free to use. Personally it took me about 7-8 minutes to enter all my monthly expenses, but this time could vary based on how many expenses you had over the course of the month.
This is a tool I plan on using at the end of each month just to keep my spending in check and keep an eye on my cash flow. I plan on building more financial apps similar to this one in the future, so stay tuned for more 🙂
My favorite free financial tool I use is Personal Capital. I use it to track my net worth, manage my spending, and keep an eye on my monthly cash flow. It only takes a few minutes to set up and it makes tracking your finances simple and easy. I recommend trying it out.
You can also sign up to have my most recent articles sent straight to your email inbox for free 🙂