After recording your incomes and expenses, it is important to understand your spending behaviour. Money Lover’s reporting feature lets you review your cash inflow and outflow to plan and make adjustments to your expenditures better.
Tracking total inflow/outflow
The amount of inflow and outflow is always on the top of your transactions. It's easy and quick to see the money you have in your pocket. Just take a glance when you are recording expenses everyday.
Balance groups of expenses
To review full report of your wallet, just tap Overview above inflow and outflow number. You'll have some chart to see, like the percentage of expenses by category. You will know that you spend 38% of outflow on Shopping and 26% on Food & Beverage, for example.
You also can track the biggest expense you spend, and similarly, the biggest income. With somebody who don't have many sources of income, the biggest income is not really important; but the biggest expense is always an important number to see.
Plan spending scheme for the future
Based on total balance of inflow/outflow, the percentage of expenses by category, the biggest expense/income, you can review your expenditures. This helps you make decision about cutting down the wasteful spending, forecasting mininum expenses for each category and planning spending scheme for the next month or year.
To conclude, the report feature of Money Lover is an effective tool to track your money. It is created automatically after you add the first transaction and updated by your new transactions. The more adequate recording of expenses, the more accurate the report is!