December 2, 2022
Practical Finance for iPhone Released

Practical Finance for iPhone Released

Posted April 30, 2010 at 9:09am by iClarified · 4339 views
Robert Chitoiu has announced the release of Balance Forecasting 3.0, an update to his innovative finance app for the iPhone and iPod touch. Designed to provide answers to the many practical, "what if" questions which arise in home finance, Balance Forecasting requires the user to simply input their repeating bills and income, and one-time bills and income. The app is then ready to accurately forecast the outcome of any imaginable scenario, helping the user make wise financial choices.

The typical household faces a variety of ongoing financial conundrums. "Will there be enough left in the checking account to pay a bill on a particular date?" "What will my balance approximately look like in 3 months?" "What will happen if I increase my credit card payment by $100?" Balance Forecasting replaces the calculator, checkbook, pad and pencil with a straightforward GUI that simplifies getting the answers to personal finance questions.

The app features four windows: Add, Money, Forecast and Calendar. The Add/data input window allows easy entry of repeating bills and income, one-time bills and income, and scheduling of their re-occurance (weekly, biweekly, monthly, yearly, or custom). The Money/data list window displays all the items entered using the Add window, broken down into categories. The Forecast/transactions list window shows projected debits and credits, up to a year in advance. The Calendar/monthly view window provides balances and reminders at a glance.

Feature Highlights:
* Enter and store personal financial data and forecast checking balance
* Input and update current checking balance for reliable forecast
* Input repeating bills and income, as well as one-time bills and income
* Provision for custom entries when exceptions occur for repeating transactions
* Calendar view displays forecast balances, transactions, and reminders
* List view displays forecast balances, transactions and reminders sorted by date
* Extensive search and filtering capabilities
* Predict the effect of any change in your finances

Future Features:
* Import and Export
* Web account access with syncing

Unlike some similar apps, the app includes a provision for entering exceptions to repeating bills or income, and will alert the user if their balance will dip below zero as a result. In addition, the app supports extensive searching and filtering, so forecast items can be displayed based on date, name, amount, and balance. Version 3.0 features both push and email reminders for bills or income. Push reminders (optional extra) will be displayed whether the application is running or not. The Full edition of Balance Forecasting will soon be eliminated, thus leaving only the free app. If the user enjoys the program and would like to input more than six items, an option is available to unlock an unlimited number of items through an in-app purchase.

"The motivation behind the project was that I have around 15 or so monthly bills that I have to keep track of, most of them having different due dates," stated developer Robert Chitoiu. "Moreover, I found myself often asking questions like 'What will my bank balance look like in 3 months if I increase my credit card payment by X dollars? Can I afford to buy a new set of headphones?' That's how my app was born."

Pricing and Availability:
Balance Forecasting 3.0 for the iPhone and iPod touch is free, and available now at the App Store in the Finance category. Users may expand the number of entries permitted from 6 to unlimited by making an in-app purchase of $.99 (USD). Users who opt for push reminders pay a one-time fee of $.99 as an in-app purchase. Review copies are available upon request.

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Practical Finance for iPhone Released
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Name - May 2, 2010 at 11:02am
PocketMoney is much better.
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