Category: Personal finance

Transfers Improved. Repeats, Descriptions and Reminders Added.

We’re constantly improving the Toshl apps, so here’s a little something we’ve improved on lately: we have added new options to transfers between financial accounts.
Automatic repeats
The transfers can now be set to repeat automatically, with the same options as with expenses and incomes. They can repeat daily, weekly, monthly, yearly, on weekdays or weekend days. You can even add a custom repeating period. That way, the transfer can repeat every x weeks, every y months… However you like. The repeats can go on forever until you stop them, stop at a certain date, or stop after a set number of repetitions were made.
If you’re making the transfer yourself, you’ll probably need to be reminded to do so. You can set up Toshl to remind you before the transfer is due, on the day, or pretty much any time you like. Even if the transfer is done automatically, a reminder on the day might still be useful, so your conscious of the transfer and can make sure your account balance doesn’t dip into negative territory.
Pretty straightforward really. If you’d like to add more information on what this transfer between accounts was about, just add the description for future reference. If not remembering your financial transfers is only a part of a larger memory problem, using reminders in combination with a Ginkgo biloba tree extract might be a more thorough solution. ;)
Screenshot of repeat transaction on iOS
Add a repeating transfer in the Toshl Finance iOS app
Screenshot of add a repeating transaction on web app
Add a repeating transfer in the web app on
Posted in Announcements, Personal finance

How to Set Up Automatic Monthly Financial Reports (Web App)

Want a report with your finances to be delivered to your email once your financial month has finished? No problem, here’s how you can make that happen.

This functionality is only available in the Toshl Finance web app and cannot be set up in the mobile apps.
Simply go to the Export & Reports section and scroll down to the “Monthly e-mail reports”. Turn the switch ON.
Destination emails
Your account email will be already entered as the destination for the monthly report, but you can change it, or add up to 9 more additional emails that should receive this report. Useful if you need the report with a part of your finances for work, or wish to share it with other family members for example.
Data filtering
You can choose to include Expenses & Incomes, or just either of the two. The time span in this case will be your previous financial month, as the report will be sent automatically once it has concluded.
Keep in mind that you can use all the filtering options from the right sidebar, just like with data exports.
You can filter by financial account, categories, tags or locations. You can select the ones to export or exclude the ones which you don’t want to export.
If, for example, you want your monthly report to include just the expenses with the category “Transport” and the tag “work” that would be no problem at all.
File formats
PDF, Excel (.xls) and Comma Separated Values (.csv) are at your disposal. You can send all of them or just one or two. Keep in mind though that the files will not be sent as attachments to the emails. The monthly reports you will get by email will contain just the links to the report. The moment you click on the report icon in the email, the reports will be generated and downloaded to your computer.
There’s also a checkbox at the end, giving you the option to send the report right away. It’s good to try out the financial reports when you first set them up and with this option, there’s no need to wait until the full financial month comes around.
Happy reporting!
Posted in Family finance, Personal finance, Tips & Tricks, Tutorials, Web App Tutorials

Currencies in Toshl Finance – Ounces of Gold Welcome (Web App)

In Toshl Finance you can use practically any currency you want. We support 165 different currencies from around the world with hourly updated exchange rates and historical daily exchange rates going back more than 15 years. This in practice means that you can travel or move anywhere, enter local expenses or even change the main currency in which you use the apps. Toshl will have your back.

Add an expense, income or a transfer in a foreign currency
The most common way in which you’ll encounter foreign currencies is usually when adding an expense, income or a transfer. Click on the currency symbol next to the amount and a plethora of currencies shall open in a dropdown menu.
On the very top of the list are your 5 recently used currencies. Your main currency is there by default, as well as the 4 other currencies that you recently used, other than your main one.
Below the recently used currencies you’ll find all the 165 currencies in an alphabetical list. The name of the currency is always followed by the currency symbol or abbreviation, as it will be displayed on the expense details and lists. The last piece information is the standardised three-letter international code of the currency.
Quick hint: If you start typing on the keyboard, the list will jump to the letters that you typed. This works with any standard dropdown on the web. Quite useful for finding what you want on long lists quickly.
Among the many national and supranational (e.g. the Euro) currencies you’ll expect to find, there’s also a few more unusual ones. If your job description includes 17th century pillaging on the high seas you might appreciate entering your incomes in troy ounces of gold (XAU) – or ounces of silver (XAG). If your dealings are more high finance than high seas, then the International Monteray Fund’s special drawing rights (XDR), might be more up your alley. Let’s not forget the the favourite child of financial innovation in recent years, Bitcoin. It’s of course also available as a full fledged currency in Toshl.
Once you’ve chosen your foreign currency, you’ll find the Add expense form a bit changed.
Below the amount you can see a preview of how the amount this is worth today in your main currency, or the currency of the financial account your are adding the expense to – if it’s different than the main currency.
A bit lower is the exchange rate that will be used for the transfer. By default, the exchange rate is already entered with the automatically fetched rate that we suggest. The exchange rates are updated hourly and are a middle rate from a variety of sources.
You can of course enter a completely custom exchange rate of your choosing. This is especially useful when you’re exchanging your money locally in a foreign country or at a bank. They usually won’t offer the middle neutral rate, but one slightly in their favour so they can make a profit on the exchange. If you’ve found a good deal it will be only slightly in their favour, but the differences can be quite large.
You’ll still see our suggested rate in grey text below the field below so you can better orient yourself even if you’ve entered a custom one.
If you’re editing an old expense that you wish to refresh with the latest rate you can click the refresh button next to it and the latest exchange rate for that day will be inserted.
Exchange rates on repeating expenses
If you add a repeating entry in a foreign currency we’ll ask you how to handle the exchange rate. A new exchange rate can be applied on each day when the expense repeats or it can remain the same as the rate hen you first entered it. Of course you can still manually set the rate on an individual repeat of the entry if you so prefer.
Active currency
Once you’ve saved an entry, the currency that you chose has become your active currency. That simply means that the next time you’re adding an expense, this active currency will be suggested by default. It will remain your active currency until you add an entry with a different currency or change the active currency in the Settings.
You can select your previously active currencies with appropriate exchange rates again by selecting one of the five currencies in the recently used part of the currencies dropdown menu.
Historical data for past entries
It might surprise you that the suggested exchange rate on an entry will change if you change the date. That is because Toshl can access historical data for the exchange rates between currencies back to 1999. That way, when you enter an expense, the correct value of that expense on that day will be recorded. No more worries about currency fluctuations or inflation messing with your financial memories.
Main currency
The main currency is most likely the currency of the country where you live, the currency in which you think. This is the currency in which all the graphs, sums etc. are displayed. You can have entries, budgets or account in different currencies, but they will always have an exchange rate so you can know how much they’re worth in your main currency when it’s all summed up.
There are circumstances where your main currency changes. Either you move somewhere else, your country adopts a new currency or you decide that you like decimals so much that you’re prepared to do all your thinking in Bitcoins from now on.
When changing a main currency there are 3 ways to do it:
– according to historical exchange rates (recommended)
– using one exchange rate
– changing the currency symbol, without changing the values
According to historical exchange rates
Toshl will check on which date the expense was entered and apply the exchange rate between the currency in which it was entered and the new main currency on that date. The entries will stay in the original currency on the lists, but the value in main currency and the sums will be adjusted accordingly.
Using one exchange rate
Toshl will suggest the exchange rate valid for today to convert all entry values to the new currency. You can also change the exchange rate to a completely custom rate of your liking. The entries will stay in the original currency on the lists, but the value in main currency and the sums will be adjusted accordingly.
Changing the currency symbol
This is mostly useful if you’ve started entering with a wrong main currency selected. The values are already in the new currency, you just want to change the symbol next to all the expenses in the previous (wrong) main currency. This approach will not update the entry values at all, it will just switch the currency symbol.
The first two options will apply the value changes to all entries (expenses, incomes, transfers) and budgets in the original main currency. You can choose whether you want to change the financial accounts in the old main currency to the new main currency as well.
Warning: In most cases there should be no data loss, but some custom exchange rates can be lost with multiple changes. For example: your main currency is the Euro and you have some expenses entered in Brazilian Reals. There is an exchange rate between those two currencies saved for each expense. If you then change your main currency from Euros to Reals, the exchange rate on those entries in Reals is now lost because the expense currency is the same as the main currency, so the rate can only be 1. If you then change back to Euro as the main currency, these expenses can have the historical exchange rate for that day applied again, but if you had entered a custom exchange rate before, it was sadly lost. It should only be a minor discrepancy for most, but if you often enter custom rates and change main currencies it is a thing to look out for.
Posted in Personal finance, Tips & Tricks, Travel, Tutorials, Web App Tutorials

Language and Regional Settings in Toshl Finance

We take a lot of pride form the fact that Toshl is used almost everywhere around the world. We try to adapt to different languages and regional settings to make the use as natural as possible, wherever you are. That can be a tall order sometimes, as developing a regionally adjusted solution can take more time than we have available. Here’s how Toshl adapts to your local settings and how things work at the moment.

Toshl is currently available in 10 languages: English, Slovenian, Chinesesimplified, Chinesetraditional, French, German, Portuguese (Brazil), Russian, Spanish and Italian.
Both the web app and the native mobile apps are available in these languages. We hope and aim to expand the list of supported languages further in the future.
Customer support is available in English, Slovenian and French. If you write us in a different language we’ll do our best using Google Translate, but this can have quite mixed results. One of the languages mentioned above is certainly preferred.
If you notice a translation in one of our apps that does not seem right to you, please tell us about it so we can fix it.

How to set a different language?

Web app
When you first sign up on Toshl we try to detect which country you’re coming from and set the appropriate language. You can change this setting manually later on.
Go to the Settings. You will see the setting Web App language in the centre of the “General” section. Select your preferred language from the dropdown menu and that’s it.
The categories and tags which you kept named as they were by default will also be renamed to the new language. Your custom categories and tags will stay as they were.
Mobile apps
In the mobile apps, language is chosen based on the system setting of your phone. Whatever the language of your phone’s operating system, be it Android, iOS or Windows Phone, that language will be used in the Toshl Finance mobile app as well. A manual setting for this is not available in the Toshl app.
The country setting in the Settings helps us determine which regional settings would be right for you and it is usually detected automatically once you sign up.
Most importantly, it helps the Toshl monsters to pick the amusing comments just for you. They are a bit shy for now, but their big day of unveiling shall soon come. Stay tuned!
Regional formatting
This setting is primarily based on language, with variations available for individual countries and scripts, where they are applicable. Serbian, for example, is available in both in latin and cyrillic alphabet, with versions for Serbia, Bosnia and Herzegovina and Montenegro.
What do these settings change?
the dates: names of days, weeks, months are based on this setting as well as the order in which they are listed.
decimal separators: when entering an amount, whether you use a decimal comma (4,20) or a decimal point (4.20) depends on this setting. You cannot use both because most languages then use the other sign as a separator between thousands.
currency symbol positions: whether the currency is displayed before or after the amount and if a space is used. In Slovenia an amount would be written as 4,20 €, whereas in the United States it would be $4.20.
We do not yet adapt the start of the week on the little calendar picker on the web, it always starts on Monday. It does not affect anything else though, you can start your weekly budgets on any day you like. The mobile apps adapt the calendar pickers based on your system settings.
Toshl offers the choice of almost any currency you can think of with with fresh exchange rates, 165 currencies. You can set different currencies on expenses, incomes, transfers, financial accounts and have a separate main currency for all the sums and graph.
Posted in Personal finance, Tutorials, Web App Tutorials

How to Use The Budgets (Web App)

Let’s take a look into the details of an individual budget. We’ll take a look at a monthly budget for all expenses and see what all the graphs and data mean.



Budget type & basic stats


Title & budget amount
The title is pretty self evident, but it’s worth mentioning that they are generated automatically, based on the type of budget you created. If you want, you can change it by clicking Edit on the right of budget details, Show more and then changing the title near the bottom of the form.
The amount shown on top is the total amount for the budget for the given time period. You can use your main currency for the budget (recommended) or a foreign one, if it’s your travel budget while you’re abroad, for example.
Time period, Accounts Tracked, Budget Type
The 3 basic settings of the budget.
Time period: shows what kind of period of time does it track and how quickly it transitions to the next period, e.g. daily, weekly, monthly, yearly or one time. You can set a budget to a custom time period: e.g. every 2 weeks, every 3 months etc.
Accounts tracked: Whether the budget is set to track the expenses noted on all financial accounts or only some.
Budget type: Whether it tracks all expenses, those in specific categories, those using specific tags or excluding expenses some categories or tags.
Budget statistics for the current period
Used & planned: the amount of money that was already spent from this budget in the displayed time period. If it mentions “planned” it also includes the expenses that you have already added in the future of this time period, but weren’t due yet. For example, bills that haven’t arrived yet this month. If you want to see just the expenses until today, click the time span setting at the top of the screen and set the “Show planned expenses in graphs” setting to OFF.
Left: The amount of money remaining in this budget, that you have not spent yet.
Left per day: The amount of money remaining, divided by the number of days remaining in the budget period.

Budget overview graph

All the elements of this graph take a little bit of getting used to, but once you get the hang of it, you get a great feel for the real state of your budget in a single glance.
Progress bar and the blue/red lollipop
The blue-coloured background tells you how much of your budget still remains. In the beginning of the period it’s all blue, but as you add more expenses things heat up and it starts shrinking towards the right side. Kind of like a glacier. The blue lollipop shows the end of the progress bar and displays how much money is left in the budget.
If you surpass the budget amount you have set for yourself, the progress bar will start appearing from the left in red colour, with the red lollipop up front, displaying how much you surpassed your budgeted amount.
The today lollipop
In the budget graph for the current period, you’ll also see an upside-down lollipop in dark grey with “today” written on it. This lollipop shows current time compared to the whole budget period. The entire length of the graph is the entire amount of time in the budget period and the lollipop displays where you are now.
The red columns
These columns are daily sums of expenses. They show how much you spent on a given day in the budget period, telling you when you spent the most and helping you to find the main culprit of overspending. Click and hold the cursor over the graph to see the daily details. The taller and darker the column, the more was spent.
Compare the “money left” and “today” lollipops
Comparing the lollipops quickly tells you how you’re doing with your current budget. The blue lollipop tells you how much money you have left in the budget, the grey one tells you how much time you have left.
If they’re aligned or almost aligned, you’re right on track so far. You’re on the way to spend the almost exact amount of money you budgeted in this period.
If the today lollipop (grey) is way ahead of the money left lollipop (blue), then you’re doing great with your budget. You’ve spent less than you thought you will in this amount of time. If this happens a lot, perhaps it’s time to lower the budget amount and save more.
If the money left lollipop (blue) is way ahead of the today lollipop (grey), then you’re not doing so well with your budget. You’re spending more than was expected. Time to reduce your spending, or if that’s not possible, make the budget amount larger next time.
If the lollipop has already turned to red, you have already spent more than the money you had put in the budget amount. The lollipop simply tells you by how much.
 The budget history graph
This graph shows the previous budget periods and the total amount of money that was spent in the period. By clicking and holding over the budget history graph you can also see more details for the period, including the amount of the budget, amount spent and how much was saved or lacking in the period.
Click on the period title below the graph and you will be taken to the complete budget details for that period. If your budget is a monthly one, you can also move there using the time span arrows on the top of the page.

The budget list

 All the budgets that you have in the current time period are present on the list of budgets on the right of the screen. The one that is currently displayed in the budget details graphs is marked with dark grey.
There is also a quick preview of the progress bar, that includes the same data as the graph in the budget details. That way you can quickly monitor the current state of all your budgets at once.
If you use monthly budgets, you’ll notice that budgets are displayed in two ways:
– Monthly budgets for all and monthly budgets for categories
The top budget is your general monthly budget for all expenses. The white-coloured category budgets below each represent a percentage of the total monthly budget. They are effectively sub-budgets as the categories all sum up. That’s why the little progress bars beneath each category budget are of different lengths. The categories for which you have not yet made a budget for are covered in the “Remaining budgets” section. That way you get a rough picture of how your monthly budget for all expenses is distributed among the categories.
– All other budgets
All the budgets which are not monthly for all, or monthly for a category, are displayed as individual budgets. They cannot be displayed as sub-budgets as they don’t match up in time or can’t sum up to 100%, like budgets for tags for example.
Included expenses
When any of the budgets is selected, an extra row titled “Included expenses” will appear in the list. Clicking there will display all the individual expenses that are included in that budget. You can display and edit them, just like any expense list.


Budgets displayed in the list are filtered just like any other content on Toshl.
Only budgets that have a budget period in the currently chosen time span will be displayed.
If you used the filtering option on the top right, only the budgets that fit those criteria will be displayed. For example, if you filtered to display only one financial account, only the budgets that track that account will be displayed. Same goes for categories, tags and other filtering options.

Toshl Pro budget limitations

While using the free Toshl you are limited to adding 2 budgets. With Toshl Pro you can add as many as you like. If your Toshl Pro subscription expires, the extra budgets will be deactivated. The data will not be deleted, if you extend your Toshl Pro subscription you can continue using them normally.pro_badge_beige
Toshl Pro is available as one of these plans:
$1.99 / month
$19.99 / year
$59.99 / 3 years + free T-shirt
Want to start budgeting, but don’t know where to start? Read our tutorial “How to Set Up Your Budgets and Control Your Spending” and you’ll be set up in a heartbeat. Maybe two heartbeats. It will be a few more heartbeats really. It’s just a figure of speech, get of my back, will you!? ;)
Posted in Budgeting, Personal finance, Tips & Tricks, Tutorials, Web App Tutorials