Play Tinder to track your spending with Wellspent [App of the Week]

Wellspent uses the power of shame to assist you manage your spending.

A team of people who were working on projects for RBC developed the app. They pitched their idea to the bank, and it funded the cosmos of the platform.

The squad wanted to shift the thought of managing money from looking at totals to instead examining the choices people make with their money.

How it works

The app's core concept is to make you look back and reflect on your transactions and then say in hindsight if they were worth making. Information technology does this through a Tinder-similar mechanic where you swipe left and right to indicate whether what you spent your money on was worth it.

When yous get through managing your transactions, Wellspent likewise gives you a roundup of how many purchases you made, how much you spent, and what percentage of those transactions you deemed well spent. You tin set this chart to show the last seven, 14 or 30 days worth of spending.

There's as well a push in the top right corner so you tin manually add transactions.

If you gyre farther downward the page, the app presents you lot with a pie chart that breaks up which areas you spend the most.

The next folio is for searching by transactions to acquire more about them. You can filter these by things yous were happy to spend your money on and things you lot were not.

The 3rd tab keeps rail of your total spending for a given month. Once you lot've been using the app for awhile, this tab is useful to compare your spending to the previous calendar month. Yous can sort this past store, any 'Tags' you may have applied to whatever purchases and by category.

The final section is just the app's settings where you can alter your profile information.

If you lot want to track your spending get this app

Overall, this app is super useful and, as I mentioned above, the shame of actually having to look at the money you spent (or wasted) and determining whether or not it was worthwhile helps put your spending into perspective and points out things that you could hands avoid.

Y'all can download Wellspent's ad-free experience for free on iOS and Android.