Ultimate App for Budgeting | How I Budget & Manage My Money Daily
ฝัง
- เผยแพร่เมื่อ 14 มิ.ย. 2024
- [WATCH IN PORTRAIT MODE FOR BEST EXPERIENCE]
In this video I take you through my expense tracker app, and the unique way that I use it to manage my day-to-day finances and track my spending.
Money Lover has been absolutely instrumental in shaping my habit of tracking expenses. I hope this video will be helpful if you decide to use the app, or at least inspires you to start tracking your expenses!!
This video is not sponsored but I sure wish it was. @ Money Lover, my email is on my Channel About page. 🌚 Kidding, please keep doing your good work!
🕑 TIMESTAMPS:
0:00 Introduction
2:24 Wallets
8:47 Categories
11:43 Report
13:28 How I use Money Lover as a money management tool
18:57 Making my transfers
21:04 Other features & tools
24:22 Final thoughts
🧡 FIND ME ON PATREON: / lisa_k
👉 If you're looking for a financial advisor, I would highly recommend the folks at DaretoFinance: forms.gle/UCSudcU21ngzHXCF8
🎞 OTHER TH-cam VIDEOS & RESOURCES MENTIONED:
- March Budget ➡️ • What I Spent in JAN & ...
- How I Live on a $3200 Monthly Salary in Singapore ➡️ • How I Live on a $3200 ...
✏️ RESOURCES:
- 📊 Budget Template (go to "File → Make a copy" to be able to edit the template) ➡️ docs.google.com/spreadsheets/...
🔗 SERVICES I USE + REFERRAL CODES (only if you wish to support me, no pressure):
- 💰 Money Lover app (expense tracker app) ➡️ apps.apple.com/sg/app/money-l... (iOS) / play.google.com/store/apps/de...
id=com.bookmark.money&hl=en (Android)
- 💰 *Stashaway (investment robo-advisor) ➡️ www.stashaway.sg/lisa-k
- 💰 *Syfe (investment robo-advisor) ➡️ syfe.onelink.me/CBOg/LisaK (code: LISAK)
- 💰 *Singlife (cash management account) ➡️ app.singlife.com/y1Iyf0TB
- ☎️ *giga! (my phone plan) ➡️ bit.ly/refergiga (code: rU0Bvk)
🌐 MORE INFORMATION:
- 50-30-20 Rule ➡️ blog.seedly.sg/working-adults... (I modified mine to be 20% wealth instead, to take into account that I’m saving for my mother as well.)
- DBS Multiplier Account ➡️ www.dbs.com.sg/personal/depos...
- DBS My Account ➡️ www.dbs.com.sg/personal/depos...
📹 MY EQUIPMENT & TOOLS:
- *Logitech Yeti Nano Microphone: shope.ee/4pZfTbrnIP
- Adobe Premiere Pro for video editing
- Canva for graphics
🖼️ Thumbnail image is from Unsplash: unsplash.com/photos/_HB3Y1wGlxw
*Indicates use of affiliate links which provide a small commission that help to support this channel.
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Thanks for sharing Lisa. Dun be surprised when ur channel grew so quickly because u r 1. Transparent 2. Honest n detailed in sharing tips 3. No hidden agenda.
There r too many 25s yo in sg I’ve watched, sharing about their finances journey. Their channel did not grow. Salute u for 1,2,3 and keep it coming!
Hi everyone, unfortunately Money Lover has removed the ability to customise Categories on the new version of the app -- so chances are, if you just downloaded the app, you won't have the same complete functionality as I do even on the premium version. So everything that I discussed in the video about customising your Categories WILL NOT APPLY if you're on the new version of the app (and to my knowledge, you can't revert to an older version unless you already had an account from many many years ago like I did...).
The new changes to the Categories function are:
-- No sub-categories; instead, they class the categories into 'groups'
-- To edit or delete categories, you need to go to Wallet > Planning > Budget > Select category > Tap edit/delete
I hope despite these changes that the app will still be useful to you. I'm really sorry guys that I didn't check if the app had undergone changes before I made this video, and especially if I had convinced you to get the premium version! Please reach out to me if you have any more questions, and I do my best to answer.
Thanks for the video and update, Lisa! Sadly I purchased the app hoping to use the categories before finding out they removed it :( Nonetheless, it's still very useful so far and I'm grateful for your recommendation and run through.
I’ve used the app for a long time and I grow from like to dislike it due to more and more paywall they built. Eventually I switched over to Ivy Wallet, which I find better than Money Lover. They have auto currency exchange which suits me being Malaysian that spend in both SGD and MYR. You may have a try.
It’s almost therapeutic to see you walking through your idea behind spending and budgeting, love it ❤
I truly love your review! It really helped me organize my Money Lover app as well. Thank you so much for making this video ❤
I downloaded a money managing app a few days ago after I stumbled onto your channel. I'm now more interested in taking care of my finances. Thanks for being so inspiring and keep up the good work! :D
Hi Lisa, Love the content! Very simple but also the calm vibes really makes me motivated to try it out. Could you perhaps do a video on your investment portfolios? :)
sure, that’s a good idea ☺️
@@LisaAdultinginSingapore
Seems interesting
Thanks for sharing. It is really inspiring how you managed your finances.Already downloaded the app and excited to start using.😍
HEY i also use money lover!! Have been using the app since i’ve started work. Love it! But wow nine years!
I am using Money manager. Allows me to track my prepaid accounts like vouchers which consumes a lot of my time to track the expenses. Now I don’t do that anymore and I use my time to review my investment and read up on news :)
Thanks Lisa :) great video !
This is very good content! Keep it up!!
Leave me a comment if you use other expense tracking apps! I am committed to Money Lover for now but I love trying out new apps, and it might help someone out. 😄 And if you have any questions at all about Money Lover, ask me in the comments and I’ll try my best to answer them. 🧡
You make a really good point! Thank you so much! @Lisa's Adulting in Singapore
I love Money Lover too, hi5! :) Wow kudos to you for leveraging all their features (incl. multiple wallets). I've only used a single wallet so far xD
@@growwithjean3638
😧
I think excel is pretty good too
I am using Spending!
Thank you so much for this video!
this is so informative! i manage my finances using an Excel file due to the nature of my side hustle, cheers!
I used to use money lover for awhile when I first started university but I failed to maintain the habit sadly :') now that I have started working, I'm using the money manager app because I just chose the first app I could find haha
It's a lot less visual than money lover, but it also allows me to create different accounts (bank account, cards, etc) in the app and track the flow of money between the accounts as well as tracking income and expenses which I think is great and sufficient functionality for myself so I'll be trying to stick with it :)
I think the greatest limitation of myself is that I'm really bad at manually recording down transactions... hopefully I'll be able to fix that! Having gotten into credit cards recently, I have been facing issues with overspending. I'll check this app out - even though it seems like total information overload to me (ugh).
BTW - the virtual bank Revolut offers a similar 'wallet' feature built in. It's actually pretty useful and I got reminded of it when you mentioned the feature. But Revolut is more for international transactions - you can't PayNow with it unfortunately :(
Great guide on money lover
Thank you for sharing about this app :)
I previously used Money Lover (free version) and loved it despite the ads. But one day it stopped syncing my transactions to the server despite multiple tries, so had to give up on this app. I'd add that Money Lover also allows the user to export the historical data to Excel - which was how I managed to save it out and still be able to search transactions up on my computer. Some might find this export feature handy while working on budgeting using a spreadsheet.
Lasik! Also planning to go for it
so helpful this app thanks!
Love your contents.
This is some next level budgeting. I literally invest 25%, 25% goes to savings, 25% goes to rent and 25% goes to food and other stuff, this is basically my budgeting lol
Hi Lisa, your videos have been very helpful! Am glad to hear that you are planning on an in-depth credit card video - I notice you do have quite a lot of different ones, would you be able to share why you have chosen those cards specifically? Thank you!
for sure! i’ll work on it soon ☺️
hi lisa! thanks for this. i immediately went to pay for money lover premium and started using the app. can see myself using it to have an insight on how much i spend within the budget i gave myself. ran into some issues in re-naming and organising the categories though hahah still tryna figure it out 😵💫
woohoo!!! good luck! feel free to ask questions about it 🥰🥰
Hello Lisa! Thanks so much for sharing your system for using the app! I love it and it's so inspiring! Can I ask - Because you transfer out e.g. $100 from your Spending account to your Sinking Fund, when you spend from your Sinking Fund, will you not log it in your Spending account? So the Spending account report doesn't show the micro breakdown of exactly what you bought but the Sinking Fund account does? Thank you!!
Nice recommended app and good for saving habit I Food leveling
jiayous! 10k subscribers soon! liked and commenting for youtube algo
Love your content! I'd suggest growing a Podcast channel on personal finance, only if you have time and energy to invest!
so true, credit card may lead overspending if never manage well on spending. You are well managing on your money and very transparent. Love your content! Curious on how you manage on your investment, hope to see them soon if possible :)
Can 1 shot transfer to multiple account?
on money lover you can only make 1 transfer to 1 account at a time ☺️
Thanks for sharing Lisa! I lost my premium membership :( I'm using expense manager now but I'm tempted to buy Money Lover again.
Hey Lisa, I just bought the app! I'm following a little of your structure for mine. I'm a little confused about the credit card spending part. How is it reflected once you pay the bill? Also, how do you handle transactions when you pay for a meal first and friends paynow you their share? Thanks
interesting apps, downloaded it, will try the free apps first. dunno if it is worth it to use the premium one
Lisa may I know what app icons is that!
Hi Lisa, it's refreshing to see a different way of organising wallets in an expense tracker app. Like you, I also treat my credit card spending like debit card spending so that I don't overspend. Recording credit card spending in a single wallet and assigning them different bank cateogories is interesting and new to me - in my expense trakcing tool, I record different bank card credit spending in separate wallets, so I have many wallets to track 😅
Oh, how often do you record your daily expenses? Every time after you make a payment or end of day?
Thanks for the video. Cheers!
thank you! ☺️ and i always record right after i make payment! if i wait until end of the day i will definitely forget
@@LisaAdultinginSingapore same here, record after payment.. took a while to cultivate this habit. Cheers
Hi Lisa. How did you create the sub category? I'm on premium already. Thank you! and great vid!
when creating or editing a category, you can select the “parent category” option - a parent category cannot be an existing sub-category (i.e. a category that is already under another parent category). hope this helps!
Hi Lísa, I cant find out how to create parent and sub categories as your videos. At this moment I tríed my best to find out how to create sub categories, I need to follow order group of money lover that so stupid
Hello! If you make a monthly deposit from salary into other banks, do you use transfer money or count it as an expense? Thanks so much! I also started using the app:D
depends on whether i have the “other bank” as a wallet in the app! for example, i have my syfe cash management account as a wallet within the app but excluded from total. so if i am transferring money from my dbs bank to syfe, i can use “transfer money” to save a step.
alternatively you could also just add an expense in your first wallet and add income to the second wallet. it’s up to you ☺️
Hi, thanks for the video! I just started playing with the app, and I can’t figure out why, when I transfer from ‘spending’ wallet to ‘credit card’ spending, the transaction reflects in both inflow & outflow? So if I transfer eg.$50, inflow will +$50 and outflow -$50.
is this in the report view? hmmm it might be that you’re looking at “All Wallets” instead of a single wallet?
Hi Lisa! What do you usually use your credit card for? I would love to know how we can use credit cards to save money and get cashback at the same time & not overspend!
i use it for all my expenses - public transport, food, groceries, shopping etc. i’ll make a more detailed video in the future about all the credit cards i have and use ☺️☺️
Hi Lisa, how did you open so many checking accounts with DBS? The last I checked, there isn't any option to open any checking accounts? Do you actually mean the opening of additional "My Account"?
you can open easily on the ibanking app ☺️ and yup, it’s the “My Account”! i use the terms checking and current account quite interchangeably 😅
Great video. As am looking to do a family budget, is it possible for more than one to use the app to update under the same wallet. Example - my wife and myself using it from our respective phones but linked to same account
hi krishnan, i believe so! you can have same account on multiple devices. i have the app on both my phone and ipad :-)
Hi Lisa, thank you for the great video. I downloaded Money Lover premium but am having some issues with setting up the wallets. I often use cash to pay for my food hence I set up a separate wallet for cash as you did in the video, but when I make a transaction into the cash wallet it does not show up in the same food category as my spending in the report (it shows up as a separate food (cash) category. Is there any way to rectify this and place them under the same food category in the report? Thank you!!
hey melissa, is your cash wallet included in total? i believe that if it's not included in total, it won't be combined together in the same report
Thank you so much @Lisa's Adulting in Singapore for this video!
Really learn a lot
thx
What do you do with your credit card spending wallet after you've paid for it the following month?
i add a transaction under “expense” called “credit card payment”
Hi Lisa, thanks so much for the really informative video. I downloaded the app and purchased premium, however I’m not able to customize the categories like you did - I’m only able to add categories and I’m not able to delete or reorder the categories. There’s no edit button at the top right when I click on categories. Was wondering if you could give any tips for this? Thank you!
hi eunice, are you using iOS? hmmm that’s really strange that you don’t have the edit button! maybe you can try accessing the categories page from the Account page? if nothing else works, i believe the team at money lover is quite responsive to questions so you can reach out to them too. you can also email me if you would like to show me some screenshots ☺️
@@LisaAdultinginSingapore I have the same issue too! My account page doesn't have a "categories" option.. I've contact them so I shall see what they say ^^ Thank u for sharing this app!
@@LisaAdultinginSingapore They came back and said that the new accounts which uses version 6.0.0 onwards does not have the sub categories function T_T this is so disappointing.. they mentioned that we can't share wallets with other accounts as well
@@jhyap9063 they just replied me too -- that's such a huge bummer! how can they remove one the best features of the app!! i'm really sorry that i didn't catch this earlier 😢
@@LisaAdultinginSingapore I really hope they will realise that a lot of us want that feature and put it back😭
Currently i use seedly but i hate that its so laggy. Is money lover ok with lag?
i don’t find money lover to be laggy at all! i’ve used it across many different phones too.
There's no customers service.. and basic features like checking certain category spending across wallets is not available
Is there ever a time which you wish that you are rich and stopped documenting every single cents? I do wish that sometimes. It’s really tired to count every single cents and the savings progress is so slow 😭😭
yes, many times! 🥺😭 i try to think of it positively, like even though i’m not rich (yet), this experience of needing to count every cent has taught me to be meticulous and mindful of the money that comes into my hands. that skill alone is valuable. i hope things look up for us soon!
Yup, it is tiring :') and sometimes I get really busy or lazy and don't record any transactions for months 🙃. What I do is, I make a transaction to adjust the balance when needed. I set it to a category specifically for adjustments. As long as it's not too huge, I think it's fine
@@LisaAdultinginSingapore
Many times!?
do u keep track of cash ?
yes i do, it’s also on my app ☺️
They have removed the features of setting time range of any Budget. Let's say you spend on a 3 month basis for mobile recharge or broadband. There is no way to set the budget for 3 months. Only for that month is available.
Hey I am from India how to get promo code for premium 1 time purchase
i’m sorry, there is no promo code that i know of
Is there any way to change, edit or delete category?
Another question is if buy premium and make new account will I have to create categories or app just copies and keep all categories for every new account I make?
Wally
Hi Lisa, you don't know how much you made life easier with the act of using the Transfer function in Moneylover to make the credit card be used like a debit card. It was so difficult trying to monitor the credit transactions and i tried using the #hashtag functionality to track the different month spending i.e. #creditmay22 Thanks so much for your wisdom and looking forward to the next videos you make.
Love the app! Just downloaded and bought the premium version for $SGD14+ What a steal! Thanks for the recommendation! Was finding for something to automate and track my expenses for awhile instead of using Google Sheets
Hi, may I ask how did you get the app at $14+? Cause I saw that premium is $28+
@@yawnjia235 it was a discount that popped up for awhile. Might be gone already tho :(
@@antoliveiro I see!! Ohman hope the discount comes back again so that I can get it at $14+ HAHA thanks btw! :)