Category: Tutorials

Quick tip: Don’t squeeze that belt too hard, budget with ease

Knowing where your money is going and keeping your finances in shape is what we want to help you with at Toshl. But that doesn’t mean you should tighten your belt so tight you can hardly breathe. If you’re in a financial crisis mode, sure, set that budget the lowest you can go and try to curb your spending. Most of the time though, we only want to leisurely monitor how much we spend and save a bit for the rainy days.

The best way to save then is to set up a general monthly budget by subtracting how much you want to save from your monthly incomes. Let me give you an example:

Monthly income 1500 €
I’d like to save 300 € each month
Monthly general budget 1200 €

Setting up the budget is easy

Visualizing your spending

This way you can monitor your spending, but you won’t feel under pressure with each purchase you make. Sum up your spending and if you’re near the end of your financial month, you can relax your spending habits a bit more.
We’ll be making this kind of budgeting and saving even easier to use soon, new version of Toshl is right around the corner.

Save only in areas that need saving

Naturally there can be some areas of your spending where you need to be more careful. While generally spending 1200 € can be fine, there’s one type of expenses that you need to be more careful with. Let’s say you overindulge by hiring waaay too many prostitutes. :P In that case, you might want to set up a budget for specific tags, namely for the tag prostitutes. Just set up a budget for specific tags (Toshl Pro only) and add the tag “prostitutes”, “horizontal entertainment” or whichever euphemism you use. Toshl will then guilt you into spending less for that exact purpose. You need to use some common sense though and not limit your budgets for safe sex and contraceptives. Ever.

Save for the specific tags you need to curb your spending on

*Toshl does not specifically oppose nor endorse prostitution. In case you don’t use or support prostitution, set up a budget of 1 cent. That way you can rest assured you won’t be using their services. ;)

Posted in Budgeting, Tips & Tricks, Tutorials

Travel with Toshl Finance – keep on top of your expenses in different currencies

Traveling abroad is awesome. Broadens your horizons, gets you out if your normal routine and into new experiences. While a small nuisance in comparison to the benefits, tracking your money-flow can be much more difficult. The currency is different, so keeping track of how much you spend is more difficult because you have to do all these extra calculations in your mind. Here’s where Toshl Finance really shines.

Foreign currencies in Toshl Finance

When you’re adding an expense, simply tap the currency button next to the numeric keyboard. You’ll get a list of currencies you can switch to. For those that are on the list we’ll also suggest the daily exchange rate for that currency. If you want to add your own exchange rate, you’re welcome to do so.

Select the foreign currency on the numeric keyboardSelect the foreign currency on the numeric keyboard

Get an exchange rate automaticallyGet an exchange rate automatically

Toshl will remember the currency you chose until the next time you change it. That way you can easily enter all your expenses as you spend them in the foreign currency. Tap the added expense to see the details and you’ll see it in calculated in your home currency too.

Quick tip: with this you can also use Toshl as a quick currency calculator if you like.

The daily sums add up in your main currencyThe daily sums add up in your main currency

See the valute in your main currency on expense detailSee the value in your main currency on expense detail

All the daily sums and graphs use the numbers in your home currency so your figures always add up properly, no matter where you’ve been.

All your foreign expenses are converted and fit right in the graphsAll your foreign expenses are converted and fit right in the graphs

How are the currency exchange rates updated?

The currency list is refreshed with the new exchange rates for the day each time you sync. Of course you can also add any of the currencies which isn’t on the list, by choosing “Custom currency” from the list. In that case you’ll need to know the exchange rate yourself.

Here’s the list of 34 currencies that Toshl knows the daily exchange rates for. We’d like to support the rest too, but the European Central Banks provides the rates for those currencies, the rest have to be added manually. Getting the rates from different sources would be a bit too complicated for the time being.

  • Euro
  • US dollar
  • Japanese yen
  • Bulgarian lev
  • Czech koruna
  • Danish krone
  • Pound sterling
  • Hungarian forint
  • Lithuanian litas
  • Latvian lats
  • Polish zloty
  • New Romanian leu
  • Swedish krona
  • Swiss franc
  • Norwegian krone
  • Croatian kuna
  • Russian rouble
  • Turkish lira
  • Australian dollar
  • Brasilian real
  • Canadian dollar
  • Chinese yuan renminbi
  • Hong Kong dollar
  • Indonesian rupiah
  • Israeli shekel
  • Indian rupee
  • South Korean won
  • Mexican peso
  • Malaysian ringgit
  • New Zealand dollar
  • Philippine peso
  • Singapore dollar
  • Thai baht
  • South African rand

We hope Toshl will come handy wherever you travel to. Since it’s already being used in all kinds of places we have no doubt that the support for different currencies comes in handy many times. If you have some questions or ideas about currencies, we’d love to hear from you, international men and women of mystery. ;)

Posted in Tips & Tricks, Travel, Tutorials

Analyze your expenses with Toshl and relieve yourself of stress

Not only is Toshl good for tracking expenses it’s also good for relieving stress. How? For example you can really take it out on your expenses and kick them around like an old bean bag.

If you’re a Toshl Pro you get this really nice visualization with balls. Representing expenses. Get your mind out of the gutter! The bigger the ball, the more you’ve spent on the tag written inside the ball. For more details on the size of your spending you can click on it and get some proper numbers.

But if you don’t feel like calculating too much and just want to release some of your righteous fury at the size of your expenses you can go ahead and do that.

Just follow this 3 step procedure:

  1. 1. Cry out that epic battle cry that you have been saving up all these years! ROOAAAAAR.
  2. 2. Drag and release the expense balls and watch them crash amongst each other just as your spending priorities crash inside you.
  3. 3. Now think of fluffy bunnies. Mmmmm.

Kick around those expenses, they're waiting for it!

With the frustration and anger out of the way go and rationally organize your expenses. Set up a budget and stick to it. With the calmness and inner peace of being finally organised: live a little!

Written by Matic Bitenc

Posted in Budgeting, Family finance, Tips & Tricks, Tutorials

How to make expense reports for specific tags you’re spending on

You probably already know that you can export your expenses in Toshl. Users with free Toshl accounts can export to CSV (comma separated values) and Toshl Pro users get a lot more flexibility with export to CSV, Excel spreadsheets, Google Docs and PDF expenses reports. But did you know you can also export your expenses for a specific month or tag?

Expenses by month

  1. 1. Log in on toshl.com
  2. 2. Click export in the top bar
  3. 3. Select whether you want to export all your expenses or a specific month

    The month you can select in the export drop down depends on which month you currently have open in your expenses view. Just navigate to a different month and you can export expenses for that month in the export drop down.

  4. 4. Click on the desired format of export
  5. 5. You’re done. Much rejoicing!

Toshl Finance monthly expense report

Expenses by tag

  1. 1. Log in on toshl.com
  2. 2. Go to the Tags tab, click on the tag you want to export
  3. 3. Click export in the top bar
  4. 4. Select export expenses for the tag you chose before and click the desired export format
  5. 5. You’re done. Much rejoicing!

Toshl Finance specific tag report

Export expenses on your phone
You want to quickly export your expenses data while on the go? No problem, you can export them on your phone as well. The only difference is you don’t have the fine grained options for tags and months on your phone. You can only export the data for all tags and all time.
Go to the export section in the More tab (on iPhone) or export in the menu (pretty much all other platforms). Enter the e-mail you want to send the report to and the file formats you want to attach. Send, and you’re done.

Toshl Finance iPhone report

You own your data
We firmly believe that the data you gather and enter is your own. While the Toshl Pro users get a few more options in exporting, we will always support a way to get your data out for free so you can use it whichever way you want.

Posted in Tips & Tricks, Tutorials

Track family household expenses

The classic predicament of living together: gathering up all the common expenses. Food, lightbulbs, cleaning utensils, hookah tobacco molasses… Everyone buys things at different places, at different times and gathering and adding up all the receipts is a pain. There’s no need to resort to crude and complicated tools like a household expenses spreadsheet. With Toshl gathering up receipts and controlling spending is super easy and done in an instant.

In Toshl you note down your expenses, add tags and sync them to toshl.com. The cool thing is you can sync from multiple devices, even devices on different software platforms. Whether you or your household members have an iPhone, Android, Windows Phone 7, BlackBerry, Nokia Symbian^3 or Nokia Maemo, we’ve got you covered. There’s a Toshl app for every one of those platforms. That means every member of your family can use Toshl on their phone and note down the expense every time they buy items for the common household. It’s easy as pie. Mmmmm, pie.

How to: Collect family household food expenses

Buying food and household items can be quite a frequent chore. Sometimes you pick up the groceries together, but a lot of the times it’s just more efficient if one person buys food on their way from work. It would be great if you could automatically collect some more info on how much you spend on food, who buys it and where.

  1. 1. Install Toshl on the phones of your family members and log in to one account
  2. 2. Agree on a common tag for common expenses, let’s say you’ll all add the tag “family food” to all common expenses
  3. 3. Add a tag with the name person adding the expense, let’s say Matt, Joan, Ibrahim and Shaniqua
  4. 4. You can add additional info you’d want to have as tags, like the name of the store where you buy for example
  5. 5. See what everyone’s noting down

New Family Food Expense

You can then tell exactly how much you spend on food, how much members of your family have spent on it and where do you shop most. You can compare how the expenses grow or shrink through time, how your store preferences change and finally settle how’s the most diligent family shopper after all.

When you have all that information on your shopping, it’s much easier to save money. Especially if you find out that shopping at Candy, Candy & More Candy represents 64,9 % of your family’s food expenses. If that’s the case, your food spending savings might even be eclipsed by your medical bills savings.

Budget in
Don’t forget you can also make a family budget and add the “family food” tag right in there. It will make it easier to stick to your spending goals and warn you when you get dangerously close to your limits. You can even set budgets for specific family members based on their name tags. Another trip to Candy, Candy & More Candy might just have to wait for a week or two.

Family budget details

Quick tip: Because Toshl sync works almost instantly, it’s a good way to check if someone has already done the shopping. Just set Toshl to sync automatically on all the family phones. Then you can always check if another family member has already added an expense at your food shop today. If they have, you’re home free, no need for you to go shopping as well. Go home, relax and juggle as many vegetables as you can handle at once. If that’s your thing.

Control Family Spending - Tags

Seas of plenty ahead!
While this approach to gathering up your family expenses works, it could be even cooler and easier. We know and we’ve got you covered. Toshl is constantly evolving and we already have plans to make collecting and sharing of family expenses even simpler and more useful. How exactly? Well, you’ll just have to wait a little and see. It’s going to be good.

Posted in Family finance, Tips & Tricks, Tutorials