Publisher: Toshl Inc.
Available on: iOS, Android
What's it supposed to do? Toshl Finance is a very straightforward budgeting app that allows you to enter your expenses and create a budget. You can add tags to those expenses so you can easily group them, allowing you to track your spending and earning in different categories on a weekly, bi-weekly or monthly basis. Essentially, Toshl Finance lets you see how and where you spend, and how it matches up to your planned spending.
Ease of Use (5/5): The tag words could become confusing (it does save your tags), but otherwise Toshl Finance is incredibly easy to use. The pages are simple and uncluttered, with the minimum amount of information to see your spending at a glance. You choose when you want your financial month to start and you have the option of viewing past months if you wish.
Features (3/5): Toshl Finance is fairly basic, but it does have some key features. You can export your information to use on any other mobile device (as well as the Toshl cloud); you can set a reminder time throughout the day at which point the app will remind you to enter your finances (you can only set one time). The app also features some cute, cartoonish monsters that help make it marginally more fun to use (anything to make budgeting less boring and tedious). However, the free version only allows one budget or monthly income at a time, which is a bit disappointing.
Effectiveness (3.5/5): Toshl Finance is helpful for people who want to track numerous different expenses. You enter that information manually, however, so you'll have to either enter each transaction as it happens or remember what you spent throughout the course of the day so you can enter it later. Also, if you set your reminder clock too early in the day, you'll have to remember on your own to come back later and enter any transactions that happen afterward.
Value (4/5): The lack of a direct link to your bank account, and the resulting need to manually enter in expenses, can be tiresome. Toschl may be best for people who don't necessarily care about tracking every little expense, but are more interested in their general spending trends on bigger-ticket items. On the plus side, you don't have to worry about someone hacking your phone and retrieving critical information.
Verdict (15.5/20) Good: Toshl Finance might make your life a little easier, but it's by no means a necessity, or the best budgeting app out there. It would be nice to have some additional features; particularly limiting is the fact you can only make one budget at a time on the free version. On the other hand, Toshl Finance is easy to use and doesn't have the privacy concerns of an app that connects directly to your bank account.