Changes to Track tool - May release

Some of the most active users of the app may already have spotted some of these, but I thought I would highlight some of the changes that have happened to the Track budgeting tool in the latest release (1.4.3) so we could get your feedback.

Before we start, a BIG THANK YOU to everyone who has contributed ideas and feedback here in the community and via email to help us improve the experience. This is still not complete and we have more in the pipeline (some details below) but we really appreciate your help in making this as useful as possible.

UNDERSTANDING THE TRACK TOOL

The Track function in the Dozens app is an incredibly useful tool to help you manage your spending and find ways to put something away for the future.

To help you make the most of it, remember that:

  • Monthly Budgets set the overall targets, so you include your likely income, and divide your known spending into a series of Expenses
    • these expenses are mini-budgets that let you see how much you have spent to date on each topic
    • since you expect these, you know how much you have left for more discretionary spend across the month, and this is what is considered ‘Available to spend
  • Weekly Budgets divide the amount ‘available to spend’ into weekly and daily targets, and these change in response to how well you have managed to keep to the targets
    • the goal is to put some of this pot aside each month to put into cash savings in order to be able to invest

Over time, as you use your card, you will discover regular patterns that should either refine your budget and become new monthly expenses, or behaviours you might want to change in order to cut your expenses.

Our goal is to make this process as easy, intuitive and effective as possible. So on that note … here are some recent changes.

WEEKLY TRACK

  1. Daily targets, and amounts spent
    • the app re-calculates your daily spend targets to help you keep on track, so you might want to know the actual amounts spent each day
    • instead of just showing you the variance (how much you’ve managed to put aside, or overspent) we’ve also added the actual amounts used versus budget for each day
  2. Did you know that the values for each day are clickable? When you are on this page, click on the value for any day to see what transactions went to make up the total
    • enhance your monthly budget by linking an amount to an existing or new monthly budget expense, or excluding it entirely
  3. Edit your budget - we’ve made the button (the pencil icon) a little more obvious
  4. Improved separation between budget months if your budget starts mid-week

MONTHLY TRACK

  1. One major change here has been to make the Monthly view match the Weekly view, including
    • total £ amounts available and spent as well as the score for each expense
    • expenses are clickable so you can review what has been included in each element
  2. AMOUNT LEFT TO SPEND
    Our most requested change was to include a figure for how much money you have “Left to Spend”. This is now included in the Monthly budget.
    • the last line in Outgoings is the ‘Unbudgeted spend (weekly)’ figure.
      • this is how much you have ‘Available to Spend’ (see the top line of your Monthly budget) which is tracked in your Weekly budgets
      • this tracking number is the sum of all your weekly spending to date, and therefore how much you have left of your budget for the month
  3. Monthly Budget Score
    • like the weekly budgets, you get a monthly ‘Score’
    • this is your Expected Income, minus anything spent so far - so therefore a running total of spend across all your expenses and your available funds
    • a green figure here at the end of the month indicates that you have done amazingly well sticking to your budgets, and still have money available - CONGRATULATIONS

COMING SOON

We are also still working on launching some further refinements, including

  • category graphs to be clickable to filter your transactions
  • allowing for different income periods (weekly pay; quarterly payments, etc.) that we convert to monthly budgets
  • allowing for multiple income sources
  • linking incoming payments (e.g. split bills) to specific expenses
  • more design (UI) refinements
  • and more!
6 Likes

@Sefti - time to ‘come home’ to Dozens?? :wink:

3 Likes

Will try every single one you mention, one by one ! :nerd_face:

1 Like