Spend Control Overview
First you tell 'Spend Control' (in a user-friendly way) about your upcoming financial situation (your expected income over the next 12 months and how much of that income is already dedicated to such things as rent, utilities, car payments, savings, etc.) Given that information 'Spend Control' tells you how much is available for your “allowance” (i.e., discretionary spending money.) You then create a budget for that leftover allowance money at which point 'Spend Control' generates a virtual envelope for each category and seeds it with one week's allowance (an amount you can easily change.) Thereafter, the app will automatically, every day, feed each envelope with one day's allowance such that if you don't spend anything in that category your spendable amount will continue to grow.
For example, if you see an outfit you really want but don't yet have enough in your 'Clothing' envelope, you can choose (prioritize) to transfer money from another envelope, say, 'Entertainment' (as opposed to, say, 'Rent'.) Or you can use the tool called the 'Future Balances Calculator' to answer the question "If I hold off buying now, when will I have the necessary funds in that envelope?" or perhaps the question "How much will I have in my 'Paris Vacation' envelope when that date arrives?" 'Spend Control' also generates a number of reports, such as 'Current Budget' and 'Current Balances' which you can then email to yourself or to someone else.
Official Screenshots
Product Details and Description of
'Spend Control' answers the following most basic of financial questions: "How much can I safely spend today such that I can still meet my upcoming obligations and ultimately reach my desired goals?" Or to put it more succinctly: "How much can I spend today without harming my future?" And here's how it works: First you tell 'Spend Control' (in a user-friendly way) about your upcoming financial situation (your expected income over the next 12 months and how much of that income is already dedicated to such things as rent, utilities, car payments, savings, etc.) Given that information 'Spend Control' tells you how much is available for your “allowance” (i.e., discretionary spending money.) You then create a budget for that leftover allowance money at which point 'Spend Control' generates a virtual envelope for each category and seeds it with one week's allowance (an amount you can easily change.) Thereafter, the app will automatically, every day, feed each envelope with one day's allowance such that if you don't spend anything in that category your spendable amount will continue to grow. If you do spend something, you need only tap on the category, enter the amount spent and 'Spend Control' will subtract the amount from the appropriate envelope. The process described above is the app's main function but there are other tools that further help you track and prioritize. For example, if you see an outfit you really want but don't yet have enough in your 'Clothing' envelope, you can choose (prioritize) to transfer money from another envelope, say, 'Entertainment' (as opposed to, say, 'Rent'.) Or you can use the tool called the 'Future Balances Calculator' to answer the question "If I hold off buying now, when will I have the necessary funds in that envelope?" or perhaps the question "How much will I have in my 'Paris Vacation' envelope when that date arrives?" 'Spend Control' also generates a number of reports, such as 'Current Budget' and 'Current Balances' which you can then email to yourself or to someone else.
Top Reviews
By ProfGravy
Easy, simple to use, and works!
I've tried many budget software programs some very complicated and some pretty basic. This nice little app is right in the middle which is perfect, in the sense that it is easy to use and therefore makes me actually adhere to my budget!!! Which is the whole point. I have been using for several months and can't believe how well we are doing with our budget! For those wanting a simple easy to use and understand budget ap try it. Similar to the envelope message some of you older users might remember.
By Jaxabbath
So helpful!
This is a great tool for getting a handle on your money and spending habits. If you've ever wondered if spending money on something today is gonna hurt your ability to pay an important bill later on this app let's you know exactly where you stand. No more worrying. Takes all the stress out making the tough decisions. Also when I made a suggestion (adding a calculator) I was surprised how quickly the developers responded and included my idea! Awesome!
By Lazarbo
Great instructions.
Great app. Thanks for the instructions. Not the first app I tried but hopefully the last. With so many budgeting apps out there you are the only one that I've tried that came with great tutorials or instructions period. In future versions I'd like to see the option for subcategories and caps on allowances. When cap is met the surplus money is automatically routed to savings. Looking forward to exploring the app even further to find out even more benefits.
