Australian spending and savings tracking app Pocketbook has over 350,000 users — it's one of our go-to suggestions if you're trying to keep a closer eye on where all your money is going. The app has just had a big overhaul, including the addition of new, in-depth automatic categorisation — which is as detailed as knowing the difference between your spending of lunch at a cafe or dinner at a restaurant.
More detailed category specifications have been the most widely requested feature from Pocketbook's users, the company says, and to do exactly that it built a new categorisation engine, just released to the mainstream after nine months of testing and validation with a beta group of 8000 users.
Spending limits are a big tenet of Pocketbook's mantra — spend less than you make, and you'll start saving money. The entire idea behind Pocketbook is that with this extra detail on what you're spending every day, with limits if the user sets them, you won't be caught short when it comes to recurring expenses like energy bills or your yearly car rego and insurance. Which reminds me — oof, I've got to find a spare $1500 before mid-November.
The new redesign also prioritises spending categories that are most frequently hit, because Pocketbook realises that it's not just big-ticket items that cost you money — it's those five daily coffees, when you could get away with two or three. [Pocketbook]