If you are reading this post, it probably means that you just downloaded MoneyCoach (Blitz) either on iTunes or Google Play. The monkeys welcome you!
We’ve spent years making MoneyCoach intuitive and easy to use, but we believe that a few more tips will make your experience even more pleasant.
Starting The Journey
You know why you downloaded MoneyCoach, you have your expectations and want to become financially empowered. However, to reach that end goal you have a long journey ahead of you. Let’s take it slow and easy so that you learn your way around the app and its core features:
- Track your incomes and expenses for at least a month
- Check where you spend most in Overview cards
- Set up intelligent budgets so you know how much you have to spend
How It Works
First, you need to understand what is “an account” and “a transaction”. An expense or income you add to MoneyCoach is considered “a transaction” no matter if you add it manually or it gets automatically imported from your bank account. The place where you add your transaction is called “an account.” The free version of the app includes only 2 free accounts. You can unlock more via our referral system or by subscribing to MoneyCoach Premium.
The main screen of the app is called the “Overview” where you can find a lot of helpful “Summary Cards” which display you all of the financial information you need. Of course, you can customize the Overview to your liking.
“Budgets” is a separate section which can be accessed from the tab bar. Currently, Budgets are available only on iOS.
Tracking Your Finances
In MoneyCoach you can track your expenses in two ways. For the German and Austrian region, there’s the automatic way when you connect your bank account and then all your bank transactions will get imported and categorized in MoneyCoach automatically.
Or you can add all your expenses manually. And for this, we have many ways you can do it like “2-Seconds Way”, “Quick Entry”, “MoneyCoach Shortcuts”, “Siri Shortcuts”, “Widgets” etc. but here you will learn the basic way. To add your first transaction click on the Plus button in the middle of the tab bar (iOS) or the FAB (Android).
Understanding Your Spending Habits
When you add a new transaction, the Overview gets updated. The first thing you will see is the “Remaining For Period” card showing you the total difference between income and expenses for the period. Below you will see the “Accounts” card which will show how much money you have in total in your top 2 accounts. Tapping the “View All” button will display all of your accounts and you can edit, delete or even add new ones.
And the third card is the “Top Categories” which will display you the percentage/amount of your expenses on different categories. You can also click on each category and go deeper and discover the list of transactions in a given category.
Intelligent Budgets To The Rescue
If you want to save money, you need to budget. Budgeting is very easy in MoneyCoach. Open the Budgets tab and tap the plus button top right. Add the name of the budget, the amount limit, select the interval and select the specific categories/subcategories you want to track and tap Save. Expenses added to those categories will get calculated in your budget. Check this screen to see how much you have left to spend on a budget.
So, how do you feel now that you know the basics of MoneyCoach? You should be proud of yourself. You downloaded MoneyCoach and started your journey towards financial empowerment. Keep going strong! Check the guide section for more tips, guides and tricks on how to make the most out of MoneyCoach.