There’s an abundance of management applications for personal finances available, from Simple, a bank linked, real-time app to keep track of outgoings and incomings (unfortunately only in the US) to Dollarbird, an ultra-smart calendar app tracking expenses and income.
The new app on the block is Level which is quite similar to Simple. It links to your accounts and gives real-time metrics on spending and income as well as savings and other more general financial information. Level is only available in the US. Level is designed to give an overall snapshot of available income on a daily, weekly or monthly basis.
The timing hasn’t been better to see what the app can do, a round of Series A funding has just been announced by the company. The big difference between Level and Simple is that the former are initially putting the emphasis on mobile development. For the launch, the app is exclusively available for iPhone although the Android version is being developed.
It’s worth pointing out here that the purpose of Level isn’t to input every transaction and expense within a ‘category’, they leave that to the other apps available.
Level is an automatic analysis tool which takes into account the users income, regular bills and a savings plan to deliver a balance which is spendable, it then breaks it down to give an amount for daily, weekly and monthly spend. The app adjusts this figure following each transaction leaving you in full control of your money.
There is an option to take a look around the app before you commit to see what the benefits really are, or just sign up, link your bank accounts and cards and take full control of your money. The app itself is very easy to use and has a visually appealing approach to highlight your remaining budget.