Mobile app review: Wally

The Wally Money Management App makes it easy, and fun, to manage your finances.  And, it’s free!

Wally AppWally is the best way to seamlessly manage your money.  Balance your income and expenses to set goals — and reach them! Or don’t set goals; it’s up to you.

App name: Wally
Price: Free
Available on: iPhone, iPad and iPod touch. Requires iOS 6.0 or later.
Download: wallyapp.me

What’s it supposed to do? Sometimes it seems money leaves your pockets as soon as it comes in; it can be difficult tracking your expenses while trying to reach savings goals. Wally aims to solve that problem, giving you a total view of your finances with an experience that provides users with “seamless, intuitive money management,” according to the app’s website.

Ease of use (5/5): Wally’s interface is simple and easy to navigate, which makes setting your budget and entering expenses a breeze. The app delivers plenty of features without crowding the screen. The app breaks your purchases up into categories and generates charts showing what you’re spending your money on. The app’s features are easy to navigate and simple to understand.

Features (4/5): The most time-consuming aspect of most budgeting apps is entering your expenses. Wally’s antidote for this problem is letting you scan your receipt with a feature called InstaScan. Simply take a photo of your receipt through the app, and Wally will upload how much you spent.

Wally also allows you to note the details of your purchases. When entering an expense, you can add:

What category the expense is (personal, home, food and drink, clothes, etc.).
The broad classification for the purchase (personal, social, work, family, etc.).
Where the purchase was made.
A note saying why you made the purchase.

This allows the app to chart where you spend most of your money.

Effectiveness (4/5): As with most finance apps, what you put into Wally is what you get out of it. The app makes it simple to track your expenses in the hope that you’ll stick to your budget and reach your goals, but it largely depends on the user being diligent in uploading every expense. If you can do that, Wally will be a tremendous aid in helping you reach your savings goals.

Value (5/5): Wally packs a lot of features into a slick interface. Not only is the app free, it could keep you from spending over your budget and missing your savings target.

Verdict: (18/20) Excellent: Finances are personal, and Wally lets you tailor the app to your situation with its customizable fields and entries. The functionality makes for a pleasant experience and helps you stay organized and aware of your spending. When it comes to budgeting apps, Wally is about as good as it gets.