5coins helps you keep track of what you spend on a daily basis

5coins 1Expense tracker apps are all the rage right now. I guess it is because they look so good on iOS 7, with their flat design and colorful accents. They sure do look better than my boring old checkbook ledger that I used to use.

5coins is a very simplistic expense tracker that helps you take note of your daily spending habits…

The app features two options: a way to keep track of daily expense and a way to see a monthly view of your activities. 5coins focuses on one feature: daily spending.

To get started, either tap the plus (+) symbol in the upper corner or pull down on the screen on the date. Enter an amount and give it a title (if you want to remember what you spent your money on). Save it and move on. At the end of each day, you will see just how much money you frittered away on the little things, like a soda at the gas station or a magazine that you won’t even read.

5coins 3To get a bigger picture of your spending habits, tap the monthly view icon in the upper left corner of the screen. Each day’s expenses will be graphed out so you can see when you spend a lot of money and when you are thrifty.

This app is not intended to be a budget guide or a bank log. There isn’t even a way to add income. The point is to write down every thing that you spend on a daily basis and then analyze the information in order to make adjustments to your purchases. You shouldn’t even enter monthly costs, like bills and mortgage payments. This expense tracker is meant to make you take notice of the little things you spend money on each day.

5coins 2The one feature I’d like to see added to this app is the ability to track expenses by their category. For me, when I feel like I’m spending too much money, I like to see where I am going overboard. That way, I’ll know what to cut down on in the future.

According to the developer’s blog, this app is in its earliest stages and will have new features added overtime. Hopefully, categories will be one of them.

5coins is available for the iPhone, iPad, and iPod touch for free. Download it in the App Store today.