Personal Spending, or Lommebudget in Danish, is an app designed to monitor daily expenses. The app is developed for the Danish Financial Supervisory Authority. The goal of the app is to coach users into healthy habits when it comes to money. We developed the first version of this app back in 2013, and then we made a major re-write again in 2021. So, in the last 10 years, 10,000s of Danes have used Personal Spending to keep track of their personal finances.
Originally the target audience was young people struggling with their finances. At the start of the 2010s, there were a lot of young people in Denmark who had problems with so-called SMS loans with extreme interest rates. Personal Spending was part of a campaign addressing this problem. But as time went on, users in all age groups found the app.
Personal Spending acts as a tracker used every time you pull out your debit card or wallet. This allows users to continuously monitor their spending and compare it against their monthly budget. This way, the user is reminded about their daily spending and their budget goals.
Personal Spending is incredibly simple and quick to use, yet it offers advanced features such as budgeting, categorization of expenses, and visualization of spending. Additionally, Personal Spending includes built-in intelligence that further speeds up the expense recording process.
One of the main challenges in the design and development of Personal Spending is keeping the app simple enough to ensure ease of use for tracking expenses. At the same time, it is crucial to incorporate sufficient and appropriate features to make the app truly useful.
Besides managing daily finances, Personal Spending offers a variety of saving tips specifically targeted at its audience.
We developed the first version of Personal Spending in collaboration with agency Operate, and later together with 1508.
We know from customer research that Personal Spending has made a strong positive impact for many users who find daily money matters challenging.
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