So I love innovate apps and especially banking related apps that helps me keep track of my expenses. I will be honest and say that I am not the best person when it comes to managing a budget. Tink is an innovative app that gives me a nice overview of where my money is going and lets me set budgets that I should try to follow. It also notifies me when my personal information is changed or I make unusual purchases. It’s also free to use but please keep in mind that it seems targeted for a swedish market at this time.

The first thing I want to mention regarding Tink is the overview of your spending. You are able to put transactions into different categories, most are categorized for you automatically and the app will try to remember the categories you manually had to match. Here is an example overview.

Overview of spending in Tink

In the exampe above, which is a bit of an unusual month, the majority of spending has gone to housing and other costs. This is due to a move from one country to another and at the very top of the page you see some bars that compares this months spending to other months and you will see that almost twice as much has been spent compared to the month before. This section can be very useful to tab through just to see how much you spent on food or entertainment. Clicking on the tabs here will let you zoom in and further categorize your spending. Clicking on food will show you how much you spent on groceries compared to how much you spent on eating out for example.

In addition to all of this you will also get alerts when you have unusual transactions on your account. In my case I moved to germany and made a fairly large cash withdrawal as it is much more common to use cash here compared to Sweden where I used to live. This cash withdrawal caused me to receive a push notification asking me if I had authorized and was aware of the transaction. In addition to notifying the user it also provides information on how to deal with unauthorized transactions.

Now, I have only covered the basics and what I use the most, there is however so much more that Tink actually does that will save you time and money. Take a look at their home page and you will the ability to check if you have the best possible mortage and if you are getting the interest you deserve on your savings account. You can also create budgets and goals for saving money. If you have multiple banks it also makes it easy to transfer money between accounts or to pay bills from multiple accounts in a single app.