Finance Mastery, a Secure Personal Financial Management App
May 23, 2011 11:30 AM –
Finance Mastery. Manage your finances effortlessly. Includes interactive charts and reports. Manage your finances on the go. With just a few clicks, you get an overview, in which categories you spent the most money (e.g. “food “, “clothes”). You can set limits and monitor whether these are exceeded.
Finance Mastery lets you track your finances and gives you a quick and easy overview of your money. In addition, Finance Mastery uses the worldwide standards for security. Your data is encrypted with 128-bit AES, unlike many competing products that do not use encryption. Finance Mastery does not need an Internet connection so that only you exclusively have access to your data. Only for creating and restoring a Backup of your data Finance Mastery needs access to your SD-card. Finance Mastery is intended solely for the usage by private customers.
Price: Free 7 Day Trial, or $4.24 for Full Version
Tested on: Samsung Fascinate, HTC Thunderbolt, Samsung Galaxy Tablet
Pros & Cons:
- Extremely easy to use Budget Planning Utility!
- Strong emphasis on security!
- Many financial graphs and charts automatically populated with your information!
- Transaction view to see where all your money is going!
- Allows for the creation of various categories for spending!
- Application allows you to set limits for spending in categories of your choice!
- Supports multiple accounts!
- Supports recurring expenses!
- No support for wireless syncing of application data.
- No support for loans or investments.
- No integration with existing bank accounts.
- No goal setting feature within application.
Finance Mastery is an excellent application for Android that helps you take control of your finances. Financial Mastery allows you to record all of your income and expenses in to one application.
Financial Mastery is encrypted with AES Encryption to ensure that all of your financial information is kept safe. When you initially launch the application, it guides you through the set up process of your two encryption keys, the short key and the long key. Finance Mastery advises you as to the strength of your passwords during the initial set up. The long password is used to access the application whenever it is not being used. The short password is used to allow you to return back to financial mastery after minimizing it to work on something else.
Finance Mastery allows you add both income and expenses to it’s database in order to monitor spending and cash flow. You are able to create recurring expenses for any reason. I specifically used this feature to record monthly payments for rent, utilities, cell phone, and food budgeting. Unfortunately Finance Mastery does not support all types of income and expenses. It does not have the ability to track investments such as my 401k or savings bonds. It also does not have the ability to automatically predict monthly payment drops due to overpaying on loans like mortgages or car loans.
Finance Mastery allows you to set up categories for each expense as well as different spending limits for each category. This allows you to not only track your spending, but to set up a proper budget and track your successfulness at sticking to it. It displays your spending per category in a very easy to view fashion and makes it simple to set up a basic budget.
Finance Mastery also allows you to easily see a list of upcoming expenses. It shows you the title of the upcoming expense, the due date, and the amount in a list format. Then when you have paid the expense you merely need to touch its title and change its status to paid.
Finance Mastery also allows you to see a list of all transactions that have occurred in a given month in order to determine cash flow and cash on hand.
Finally, Finance Mastery allows you to see charts of much of your financial information. It will allow you to create a pie chart to measure expenses by category. It also creates charts to measure account balances over a few months to gauge income and savings. Some of the charts included allow you to track your spending limits as well and allow you to easily see when you exceed those limits.
Watch on Mobile
Finance Mastery Main Screen
Finance Mastery Expense Chart
Finance Mastery Financial Overview and Charts
Finance Mastery Cashflow Chart
Finance Mastery Accounts Overview
Finance Mastery New Expense
Finance Mastery New Income
Finance Mastery Category View
Finance Mastery Transaction List
Finance Mastery Master Key
Finance Mastery Options
Finance Mastery is extremely useful for creating a simple budget and sticking to it. The excellent financial charts and transaction tracking features make it a great application for someone who prefers to do an electronic budget vs a paper one. However, this application is not an all in one financial solution.
I personally use Mint.com to do the majority of my financial planning. A few things that I like about Mint vs Finance Mastery is that Mint offers linking of bank accounts to it’s website for near real time tracking, a financial goal planner to help you set goals to pay off debt and save money, the ability to track investments, and the capability to track loan rates and the effects of paying extra on your payments to the interest paid on the loan.
I like how Finance Mastery doesn’t need to be tied directly to your back account, because that offers you a stronger level of security. Despite that I would like to see the wireless syncing of account information between devices based on the user’s Google Account. I would also like to see the integration of investments and loans in to the applications UI before this application could be my main financial utility.
Ease of Use:
Finance Mastery is extremely easy to use. The set up for this application took minutes. The interface is very simple and easy to use and the developer put a lot of care in to making it user friendly. I would have to say that Finance Mastery is significantly easier to set up and begin using than Mint.com.
Finance Mastery is an application that I could see myself using daily. Though I may not make the switch until the developer adds some of the features that are currently missing from the UI. If he were to add investment and loan tracking, as well as wireless sync I would almost definitely purchase this application and use it as my go to app for budgeting and financial planning.
The interface is extremely clearcut and easy to use. The application gives iPhone-like notifications whenever a new event is due to occur under a specific category. The application is very secuirity conscious. It makes you type in a password every time, and I repeat, every time you access the application. Thankfully most times you are able to use the short password so the log in process is never too much of a hassle.
The graphs and charts are extremely professional and automatically populated from the data you have already added. This is extremely useful to track various aspects of your finances without having to do all of the math by yourself.
There is only one widget for the application. The widget is just a icon for the Finance Mastery application and displays a little bubble with the number of notifications waiting in the application inside. Some variety of widgets would be nice for the less security conscious of us. However, when it comes to financial security you can never be too secure. So I appreciate the developers focus on this.
Tags: Android App
, Android Apps
, AndroidTapp.com App Review
, Finance Mastery
, Finance Mastery Trial
, Financial Account Management
Categorised in: Finance, Utilities