This app was originally created to help me ensure my tax return contained all my deductible expenses. Each year I would go through my bank statements for that year, noting any potential deductible expenses. I would then go through those expenses with my tax accountant to ensure all the correct deductions were on my tax return. This resulted in a higher and more accurate tax return as all my deductions were included.
While I was doing that, I found I was also wasting money, paying for things I no longer used. So I then decided to categorise my spending so I could check I was happy with it or not. It soon became apparent that once a year was not frequent enough, and I started to do it every quarter. This saved me hundreds of dollars.
At this point I found I needed two levels of categorisation to see my spending correctly, otherwise things like "car costs" would seem unrealistically high one month as that was the month I paid the car insurance.
Once I had all this information laid out really clearly in front of me the real magic happened. I could think about my income and expenses and make some really good decisions. It was like being presented with free money. I'm a smart guy and I always thought that I managed my money well. Turns out that as I could never see the bigger picture I could never make the bigger decisions and the bigger changes. This saved me thousands
As a result of using this app I make better financial decisions with the money I do have, and that is like getting free money!
My friends heard about it and thought it was a great idea and wanted to use the app, so I thought I would make it available to everyone by writing it as a web app.