Prices have been increasing for months. MyMMO editor Benedikt Schlotmann has tried several apps to save money. And it has really paid off. By the end of the month, there were always a few euros left over because he actually kept an app on his phone.
What did I try? Due to inflation and sharply rising prices, I wanted to save money and keep my savings together. For this reason, I started keeping a household book. This way, I was able to see very quickly where my biggest expenses were each month. I tested several apps from the Google App Store:
- Money Manager: A clear design, but a lot of ads, which are additionally in Chinese. This made the app immediately unappealing (to the Google Play Store)
- My Expenses: A nice app with good basic features. Unfortunately, many features are locked behind a paywall as premium, which must be unlocked either via subscription or one-time payment (to the Google Play Store).
- Cashew: The app shines not only through the lack of ads but also because it is completely open-source, flawlessly in German and works in the browser thanks to the web app. Moreover, the app is from Canada (to the Google Play Store).
Why did I keep Cashew? In the end, I stuck with the Cashew app. I have now consistently recorded my expenses for over 6 months. After each purchase, I took my receipts and entered the costs into the app.
By now, I am so convinced of the app that I am actually considering investing the one-time 20 euros. While the pro features are hardly worth it, it’s really worth it to me for the app now.
With a budgeting app, I save about 30 euros per month
Here’s how I proceeded: At the beginning of the month, I set a clear budget: I want to keep my monthly expenses for groceries and more under 300 euros.
How much did I save? In the first month, I was significantly surprised by my expenses and was well above my budget. This was shocking to me, so I went through my purchases again. Over the next few months, I was about 30 or 40 euros below my target. I actually spent less on average.
As soon as I realized that I was quickly approaching my desired budget, I skipped certain purchases or tried to save costs in other ways:
- Then the bag of gummy bears or the bar of chocolate was left in the supermarket.
- Or I bought fewer items that would only end up sitting in the pantry for the next few months.
- I questioned more often while shopping about what I really needed: What do I need to buy today, and what can I easily do without?
Do you have a tip? Yes, I do. What I strongly recommend for anyone wanting to keep a household book is to enter your expenses directly and consistently. In my first attempt, I sometimes entered expenses days later, which undermines the purpose of a project where I want to break down expenses.
Already with the device with which you keep track, you can save money – but can you manage everyday life with a phone for less than 100 euros? I bought the inexpensive Blackview A60 Pro and will reveal on MeinMMO what it is worth and what it is not. Because not everything has to be a smartphone costing several hundred euros:
I tested a phone for 100 euros – is it really as bad as one imagines?
