I am loving exploring different parenting apps for (H)Appy Parenting with Zoe! The variety of things you can discover on your phone or tablet never ceases to amaze me. This month I am looking at a budgeting app called 22seven.
Anyone who has kids, or has even considered making a human, can tell you that babies are expensive. In actual fact, I haven’t found babies to be THAT expensive – it’s all the stuff that comes as they grow up. School fees, new shoes, swimming lessons, birthday parties… the list seems endless. We are all told to make a budget and stick with it, but that’s easier said than done. Well, don’t worry, because there’s an app for that – 22seven.
With many budgeting apps out there, 22seven is unique. It pulls information from all your accounts into one place, helping you keep track of your finances, see where your money is going, and plan ahead.
How does it work?
After downloading the app, you’ll be prompted to connect your accounts. I was surprised at the types of accounts I could connect. Obviously I could make a (totally secure and read-only) connection to my bank. But I could also connect to my loyalty cards like Dischem, Clicks and even The Body Shop. Even just from scanning my FNB account, it figured out how much money I was spending each month on takeaways, groceries, petrol and bills. It’s quite shocking to realize just how much I’m spending in certain areas!
I mainly used two tabs – Spending Plan and Accounts. Spending plan shows you your transactions and looks sort of like a speed dial. You can see how much you’ve spent so far, and it will estimate how much you’ll end up spending during the rest of the month. You can also select the different categories and set how much you’re planning to spend – I immediate put in estimates of how much I’d like to spend on groceries, travel and entertainment. Now I can see at a glance how much I’ve spent in the various categories, and if I need to be more conservative or if there’s room to be more generous.
Meanwhile, the accounts tab shows me how much money I actually have in my various accounts. This is a huge help – I often have a rough idea of how much money I have, but being able to check that number on the fly without logging into my internet banking is fantastic.
I think the transactions tab should be fairly self explanatory as it shows all your transactions. What’s nice here is that you can filter by time or type, seeing how much money you’ve spent since payday, or in the past week. I like setting it to payday so I can see the money in vs money out graph. It’s quite an eye opener.
Speaking of eye openers, the nudges tab is obviously how Old Mutual makes their money, but it’s still pretty clever. This tab just gives you some interesting insights. With comments like “you spend x amount on eating out and takeaways each month. If you decrease that by 20% (Rx) and invest the money, it could be worth Rx in 15 years”. It just shows how users could be smarter with their money. Obviously if you click on a nudge, you’ll be directed to Old Mutual to organise an investment, but it’s still intriguing to help you think of your money in that way.
– Excellent help with managing money
– Easily secured with extra passwords (or touch ID)
– Can link to multiple accounts
– Useful daily
– Available for free on iOS and Android
– Can struggle to link accounts (do I even have a password for The Body Shop?)
– Scary to see it all in one place
– Doesn’t distinguish between good and bad debt (scary when your home loan appears!)
Where can I find it?
Are there other questions you would like answered about this app? Please leave me a comment if there is, and I will see what I can do!
Are you an avid app collector as well? Have you found an app that has changed your parenting world that you think we should check out? Send us a mail to firstname.lastname@example.org with the subject (H)Appy Parenting with Zoe.
*You can learn more about Zoe here!