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Set Your Daily Budget With Economizer

Posted by Maria Poeana
   
economizer-iphone-app-review
Economizer - Ildar Ayupov

Economizer iPhone App Review.

When it comes to money, there are two types of people: the spenders and the savers. And they are easily recognizable by the sum of money they have in their accounts in the middle of the month. While the saver probably spent less than half of his paycheck, by this time, the spender has already seen his empty bank account and started calling all his friends and family to ask them for more money. But whether you are a spender or a saver, no one is as happy at the end of the month as the guy using Economizer.

Economizer is the app that satisfies the needs of both spenders and savers. When walking inside a store, the spender will buy everything and the saver will walk away with two products or empty handed. At the end of the month, the spender will have a new sofa and TV, but a huge debt, and the saver will have a huge bank account, but an old TV and a dusty, uncomfortable sofa. And they will both crave for what the other has. But the answer is not the two switching lives. It's trying to be the guy in the middle, who keeps his spending under control, but still has a new sofa. This is the guy using Economizer.

How it works

With Economizer, just set the sum of money that you can spend and how long it should last. The Economizer will automatically do the math and tell you how much money you can spend every day. Then all you have to do is add your expenses as you make them. With every purchase, Economizer shows you how much money you've got left for the day or if you exceeded the daily budget. And I know what you're thinking: there are days when you have to spend more than others. But the Economizer has already taken that into account. Even if it sets you a tight, equal budget for every day, if you spend more or less in some days, it will recalculate your budget for the next days so that you don't exceed the sum of money that you set in the beginning.

The problem with the recalculation in Economizer is that he doesn’t repurpose your entire budget for the remaining of the days. It just assumes that if you’ve spent $100 more than you should have today and the initial limit is $20 per day, you shouldn’t spend any more for the next five days. A better way would be to actually recalculate the remaining budget, after the $100 purchase, and divide that equally over the remaining days of the budget period.

If you make an expense that’s more than your budget, Economizer won’t let you input that in. You’ll need to increase your budget for that month and retry the purchase.

But the Economizer is not only smart, but also nice to look at. It has a simple design and a fun way to add your expenses. Instead of taping on a classical add button, you can choose from three different looking buttons. You can pull on a rope, rotate a handle or push a button to flush your savings away.

Why use Economizer?

The difference between Economizer and other similar apps lies in its simplicity. With Economizer, you don't have to go through a ton of categories or to fill in an infinite number of spaces with details to register a single purchase. It's true that this leads to not knowing the total amount of money that you spend for food over the month, but it saves you a lot of time and makes it easier for you to add every expense as it happens. And even if you don't have a monthly balance, you will have a daily one, since you also have to add both the product you purchased and the cost.

Also, with Economizer, your budget is better structured. You don't just add expenses and see at the end of the month where all your money disappeared. You know at every time what your daily budget is, and how much you can spend. And if you are not sure how much money you can spend this month, you can set Economizer to calculate the daily budget for half a month, a week or even a couple of days. The spender will know on a daily basis how much money he has left for the following days, and when the saver passes by an Ikea one day, in the middle of the month, he will see that he can afford to buy a sofa that same day without exceeding his monthly budget.

You don't have to wait for a new month to begin using Economizer. Try it out today and let it help you with the budget for next week or even this weekend. And don't be surprised if by the end of the month you end up with a new sofa and still some money left in your account.

Screenshots

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economizer icon

Economizer
Developer: Ildar Ayupov
Category: Finance
Version reviewed: 1.0
Price: $0.99

Our Rating

4 / 5

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iPhone Review Posted in App Reviews, Business & Finance
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