My Money is a free and simple to use budget management app for Android that keeps track of your personal financial accounts and displays statistical reports for them via charts and graphs. With My Money, you can easily maintain as well as monitor multiple accounts, allocate budget amount for each account and record underlying expense/revenue transactions. The app supports adding detailed information about each aforementioned entity and helps you keep a tab on your monthly profit and loss based upon recorded transactions. In addition, you can view graphs for expenses per budget as well as spreadsheets of monthly expenses/revenues for easier reviewing of your cash flow.
The most impressive aspect of the My Money app is its rather simplistic interface with all the core features/categories listed on the homescreen. These include Accounts, Budgets, Transactions and Statistics. This allows hassle free recording, accessing and tracking of data.
To start using the app, all you need to do is add a new account by tapping Accounts > Add an account > specify an account name and the beginning amount. Tapping on an account reveals detailed statistics of all the various transactions, aggregated expenses/revenues and net profit on a monthly basis.
If you’re using the app for the first time, you must start feeding in content relevant to your budget. Tapping on Budgets from the app’s homescreen lets you add a budget category (Food, Rent, Children etc.) along with the maximum monetary amount that you wish to allocate to it. The progress bar under each added category lets you keep a close check on the total and consumed budget. Long pressing on a category lets you edit or delete it.
To record transactions pertaining to each category, tap on Transactions from the homescreen. All your transactions under the Expenses and Revenues tabs can be added/accessed from this screen. For each transaction that you wish to add (via Menu > Add a transaction), you have the option to provide details such as the transaction title, account, value and the recurrence date of that transaction on daily, weekly or monthly basis.
After you’ve recorded all the required data and wish to analyze it graphically, tap Statistics from the app’s homescreen and pick a category. While all your expenses per budget are displayed via pie charts, the app displays your monthly expenses and revenues for all accounts on a spreadsheet.
Although you may find quite a few alternative apps based on personal finance management in the Market, My Money certainly stands out with its simplicity and effectiveness. However, the rather restricted expense categories of the app make it suitable for domestic accounts only and not on a larger scale/ corporate level.