case study

How "Anon Dan" is set to save $24,000 a year

Dan is a well-paid software engineer making low six figures a year in a medium/low cost of living city (MCOL / LCOL). He's making way more than the average person there, but lifestyle creep and impulse buying got the better of him.

"You'd expect that a senior software engineer would have savings, but I didn't. I spent the last 3 years before buying Expensio burning through all of my income. I just couldn't get myself to save, things always came up."

- Anon Dan

Some shame people like Dan for having low discipline and giving in to their impulses. So much so that, people like Dan end up in a vicious cycle of:

Impulse purchase vicious cycle
Figure 1: Impulse purchase vicious cycle

That's not a very productive way of approaching the root problem. It's also probably not sustainable nor good for your mental health.

What if there was a better way?

What if managing your money and planning things out was easy? What if there were ways to easily get back on track when you mess up?

That's where Expensio comes in with features like "balance correction" and "balance projection".

Balance correction
Figure 2: Balance correction

Walk with me through a scenario:

Say you forgot to track expenses for the last few days. Maybe you did some grocery shopping, paid for gas and some bills.

In other apps you'd be in trouble. You'd have to work through figuring out the cost of each item.

That work will put you off, you'll say "I'll do it tomorrow" and before you now it you stopped tracking your expenses.

Not with Expensio. As you've seen in the above figure, the balance correction feature allows you to adjust your expenses to the current balance.

Balance projection
Figure 3: Balance projection

Yet another scenario for you. The last one, I promise.

You know how much money you have right now, but you're trying to plan for the next 2 months or so.

You have a lot of things you want to do: pay rent, buy a new pair of shoes, invest some dollars in SP500 and, hopefully, do a cross-country trip to your parents' house.

You also expect your salary to come in. You're 100% sure you'll have enough money to do it all. But you need to plan the "cash flow events" correctly.

You don't want a situation where on day 1 you have $600, day 2 you need to spend $1,200 and your $6,000 salary comes in on day 3.

That's a problem, you'll be in debt on day 2 which you don't want.

That's where the balance projection feature comes in. It allows you to see exactly how your balances would look on any given day.

Dan is now on track to save $24,000 a year.

Dan has saved $4,000 in the last 2 months since he started being a beta user for Expensio. He's projected to save $24,000 a year.

Of course, Expensio shouldn't get the full merit for this. Dan still had to take "showing up" seriously.

But we like to think Expensio makes showing up a bit easier. And Dan agrees.

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Expensio.co - Personal finance for disorganized people. | Product Hunt