Money Engine 1.0 for iOS – Track and Analyze Your Spending Patterns

By on Nov 23, 2010 at 2:43 am

Overland Park, Kansas – Rade | Eccles is announcing the release of Money Engine 1.0, a simple yet powerful spending pattern analysis tool that will help you save money and improve your financial outlook by identifying precisely how and where you are spending your money. Money Engine can be used by anyone who spends money. If you have ever asked yourself “Where did all my money go?” you can use Money Engine to resolve that question once and for all.

Money Engine is designed to quickly and conveniently allow you to record a transaction at the point-of-purchase eliminating the need to maintain paper receipts (for data entry purposes). Transaction data is analyzed in real-time to produce charts and graphs that clearly illustrate spending patterns and help you make informed budgeting decisions.

Unlike many other budgeting and expense apps Money Engine requires little to no configuration or setup. There are no budgets to configure, accounts to create, or opening and closing balances to be concerned with. A Money Engine transaction consists of a few simple fields: type, category, location, amount, and notes (or tags) and can be entered from any screen in the app.

Depending on your spending analysis needs Money Engine can be configured as generic or detailed as you would like. In it’s simplest form you can begin using Money Engine immediately to track and analyze all purchases. Money Engine works by treating all purchases as a particular “type” such as Cash (an asset such as cash, checking account, or debit card), Credit (a liability such as a credit card or loan proceeds), or Gift Card (essentially free money). The “Type” data element is used to help you quickly visualize how much of your spending is asset depletion versus accumulated debt.

Each transaction is also assigned a category and location which can be used to further isolate and identify spending patterns. Money Engine comes with pre-defined types, categories and locations that can be used as-is or expanded upon as required. Types, categories and locations can also be configured as generic or detailed as necessary to support your spending analysis needs. For example, you have the flexibility to create a generic “Grocery Store” location or create specific locations for each retail establishment if you desire a fine-grained analysis of spending by each retailer. You can also use a combination of generic and specific data elements to meet your needs.

Additionally, you can assign notes (or tags) to each transaction that are useful for custom reporting and analytics. Money Engine allows you to create custom reports that can be filtered to display only the desired date range, types, categories, locations, and notes you wish to analyze.

Whether you have never tracked your spending, are effectively using an existing budgeting system, or are unhappy with your existing financial management tools Money Engine has a place in your pocket:

* If you have never budgeted or tracked spending before and are uncertain about your spending patterns and what a realistic budget might look like use Money Engine to become informed.
* If you already use an existing budgeting system or software package use Money Engine in conjunction with your existing tools to gain visibility into your variable expenses and discretionary spending and fill a void left by most budgeting utilities.
* If your existing system is not effective and you are looking for a replacement use Money Engine with a finer grained configuration to track not only variable expenses and discretionary spending but fixed expenses as well.

Though Money Engine is designed to help you gain a better understanding of your retail purchasing habits it can easily accommodate all spending. You can include your fixed expenses such as utilities, mortgage payment, car payments, insurance, etc. Simply define new types, categories, and locations to support your additional tracking and analysis requirements.

Any way you choose to use Money Engine you can expect to achieve a level of understanding about your spending patterns which will surprise you. You will enjoy how easy Money Engine is to use and how well the rich charts and graphs visually convey your spending habits. Most of all, you will appreciate an improved financial outlook as you become more aware of areas of spending which need greater attention and restraint to bring your finances under control.

Features of Money Engine 1.0 include:
* Record a transaction in seconds … anytime, anywhere
* Quickly filter and sort data with just a few taps
* Rich visual representations of data with bar and pie charts
* Convenient dashboard summarization of short and long term total spending
* Historical analytics allowing for comparison and contrast of aggregate data sets
* Easy access to lists of transaction details
* User configurable reports and data sets by filtering on any transaction data element
* Fully customizable types, categories, and locations
* An elegant and fun-to-use interface
* A display toggle allowing a choice between maximizing the space available for data or emphasizing transaction entry capability and total spending for the period
* Easily migrate and backup the database and custom reports from device to device with file sharing (iOS 3.2 or later)
* First class in-app technical support

Coming Soon:
Money Engine 1.0 is just the beginning. It is already being souped up in the shop to include more features and analytical capabilities. Soon you will have the ability to:

* Track a budget
* Generate PDF reports
* Print from the app using AirPrint (iOS 4.2 or later)
* Export & Email data
* Add a pin for secure access
* Skin the user interface
* Access more analytical capabilities

Device Requirements:
* iPhone and iPod touch
* Requires iOS 3.1.2 or later
* 4.3 MB

Pricing and Availability:
Money Engine 1.0 is free and available worldwide exclusively through the App Store in the Finance category.

Rade | Eccles
Money Engine 1.0
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Rade | Eccles is an experienced US based iOS app development team specializing in high quality native applications targeting the iPhone, iPad, and iPod touch devices from Apple, Inc. They create highly functional and compelling apps that actively engage consumers through elegant design while increasing reach and ensuring long term user retention. Apple, the Apple logo, iPhone and iPod are registered trademarks of Apple Inc. in the U.S. and/or other countries.

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