How to Use a Budgeting App – Koody App Review

We love discussing all things personal finance on the blog. Managing your personal finances properly is a great way to get yourself the peace of mind that we all long for – especially those of us on a slow living type of journey and value a calm, peaceful life.

On that note, we want to bring you a post to discuss with you how to use a budgeting app and the benefits of it as well as a review of Koody. The Koody app is an app that helps you track your spending habits, and keep on top of your specific goals; all in all it is an app to help your financial wellbeing. The app is also comprehensive enough that it allows you to discover financial products that will benefit you, help you towards your goals, as well as educational content to help you learn to meet your financial needs.

this is a sponsored post however. all thoughts and opinions are my own

Let’s get into it!

Table of Contents – How to Use a Budgeting App – Koody App Review

Why budgeting is important

We all know the people that wing it when it comes to their finances, some of us may even be, ahem, said people. From the cheeky takeaway, to the morning coffees, to picking up a new lippy everytime we pop into Superdrug, it is easy to lose track of our financial goals, and overall, our financial health may suffer. Sure, you may not think it adds up to much on a daily basis, but come the end of the month you will realise that not having a spending plan has eaten into your monthly income, and it has left you counting down the sleeps until payday. 

Budgeting is important for many of us as it keeps us on the right track to meeting our personal financial needs. From planning for a holiday to saving for the deposit on a house (or just keeping enough of your earnings to stay afloat) making the right financial decisions affects every aspect of our lives. 

The different kinds of ways to budget

How to Use a Budgeting App - Koody App Review

Budgeting may look like something different for everyone. To you it may be the envelope system – a more hands on approach to budgeting that we will discuss in another post. While to someone else the use of a free budgeting app on a mobile device is a better option to track spending. 

Some people keep everything in their bank accounts and live off of that, only saving what is left over at the end of the month. Others have savings goals that include investment accounts and putting the majority of their earnings into that. 

There is no one size fits all method to budgeting, a lot of it can depend on your earnings, but there is always a great tool that helps you keep track of your expenses in an easy way that helps you analyze your spending patterns and be the best fit for your monthly budget. One tool that we recently discovered is Koody. 

What is Koody?

Koody is a budgeting app on the surface, but there is more to Koody than meets the eye. The Koody app not only helps you organise your budgeting process but it also teaches you how to make smart financial decisions overall by teaching you about how to invest, helping you navigate through all things pensions, learn to maximise your savings, find out more about cryptocurrencies and how to invest in them if that is something you are interested in and it even offers different type of calculators for your needs. 

Before I get into the app further, I do want to state that my favourite feature is that I do not need to forcibly connect it to my bank account! As many of us do, I have different accounts for different things aside from my main account, and I really don’t feel the need to have my personal budgeting tools snooping into my financial accounts when I am perfectly capable of inputting the information myself. The manual aspect of this account is a refreshing change from the apps that seem to impose so much unto you. This allows you to keep your sensitive information private. 

How to use Koody

Using Koody is quite straightforward – when you open the app you will see the overview of your monthly budget, what you have spent, and how much money you can still spend for the rest of the month. This at a glance overview lets you see your budget limits for the month in different categories. 

The next tab in the app is “expenses”. In the expenses tab you can add individual items, the cost, the category of the item, the date, if it is a recurring monthly expense, and even a receipt to go along with it. You also have a notes section which makes for good ease of use. 

There is also a tab for you to view all of the various categories and choose your favourites if you want. A budget tab for you to add your budget for each particular category, and the discover tab which shares a wealth of information. I think this is a great idea, as many of us don’t keep up with our budgets due to lack of education, so this helps immensely. Although, I do recommend speaking to your bank or financial advisors to learn more about pension schemes, investing, and more; but this is a good way to whet your appetite. 

All in all, Koody is a simple to use app that has a very user-friendly interface. The essential features are very straightforward. It’s available on different mobile platforms. I think it’s a great tool for everyone, from college students who are just learning to manage their finances to families who are trying to keep on top of their expense tracking to help their budget. I will keep using Koody and update the post in a couple of months – but for now, this is a great first step to keep on top of my personal finances. 

Download Koody on Google Play and App Store

this is a sponsored post however. all thoughts and opinions are my own
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