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moneyMoney is something that we all have to think about on a regular basis. Without cash in our pockets or a credit card in our wallets, we’re effectively useless in this world. How would we buy food, pay bills and clothe ourselves? How would we do anything?

I’ve always taken a special interest in ways to manage and save money 5 More Ways to Get Discounts, Save Cash & Make Money Online 5 More Ways to Get Discounts, Save Cash & Make Money Online Read More , mostly because I don’t always have an abundant supply of the stuff. Recently, I found a great mobile app that helps you manage money in a simple yet effective way. It’s called MoneyManager2. It’s an app for basic Java cell phones – and as I say in most of my articles about Java apps, it’ll run on basically any phone post-2004.

money manager homeThe reason MoneyManager2 is one of the best ways to manage money is because it addresses the number one problem with over-spenders; their mental calculator. You know the one. It’s nearing the month’s end and you’re rounding up what you’ve spent and trying to remember how much you have in your account. Suddenly you start to think very optimistically and a decimal point gets moved to the left or you ‘forget’ to carry a few ‘1’s.

So in its simplest form, MoneyManager2 keeps track of your spending to eradicate this problem. All you have to do is enter each time you withdraw or spend money – and tell the app what it was for.

Starting Off

money manager settingsClick Settings from the menu. From here, you can set up several different aspects of the app which you’ll need to make it work properly. Firstly, enter in your payment methods. The two standard ones are “˜Credit Card‘ and “˜Cash‘. You can enter in your own such as “˜Cheque‘ and “˜PayPal‘.


Once you’ve created your payment methods, go back to the Settings menu. Using the Categories, enter in different types of  spending such as “˜Gas Bill’, “˜Insurance’, “˜Petrol’, “˜Food’ and so on. Each transaction you make will have to be paired with a category. As such, it may be necessary for you to come back later and create new categories as the spending occurs.

Using the other options on the “˜Settings‘ menu, continue to set up the app by selecting your currency, security settings and preferences.

Making Transactions

When you spend money, open the app and log it. This is done by selecting the method you used for payment from the main menu. Then enter the amount into the app and select the appropriate category. Do this for each transaction whether you’re spending or receiving money. This will keep your overall balance updated.

At Month’s End

money manager e-mailAt the end of the month, you can view your spending in two ways.

The first, and most basic, way is to simply select ‘Statistics‘ from the menu. This will present you with a screen displaying each category and how much you spent in each one. And of course your total spending followed by your current balance.

The second way, and perhaps one of the best features of this app, is to export your monthly data as an Excel, Quicken or CSV file via e-mail to your PC. This is very easy to do. Simply select e-mail from the menu, enter in the e-mail address and select what file type you want to export it as. Then send it.

I found the ability to export your spending as an Excel very handy because I use the program to do my monthly budgeting. No transcribing necessary!

While this app is small, it’s extremely useful. It solved a big problem for me as I never liked having to remember what I spent and note it later. With MoneyManager2 the process is quick, easy and instant. You can download it here from GetJar.

For those of you with Android mobile phones, there is also a similar application to manage money called MoneyManager. You can find it in the Android Market.  If you have Windows Mobile phone, Budget Diary should be a good option. If you decide to try it out, let us know how you like it.

Image Credit: Kiki99

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