Toshl Blog

The Fate of Toshl on Windows Phone

There is no easy way to write this, so I won’t beat around the bush too much.

We’re cancelling the Windows Phone version of Toshl.

We’re immensely sorry and disappointed that this is how it turned out. Our intention was to bring the full Toshl Finance 2.0 functionality to Windows Phone, but it increasingly became clear that this is no longer feasible.

 

What happened?

When we started to plan the 2.0 version of Toshl a few years back, Windows Phone was one of the three main mobile platforms that we were going to make the app for. As we’re a small team, launching simultaneously on three mobile platforms, web app for desktops and tablets, as well as a new backend system was not a realistic proposition.

Therefore we needed to prioritize which mobile platforms to launch on first. We did so based on the general market share of the mobile platform, share among Toshl users, as well as the difficulty of development given the number of different hardware configurations, testing etc. We decided on launching the new backend coupled with the web app and the iOS app first, with Android coming some months later and Windows Phone a bit later still.

When we initially started thinking about our 2.0 plans, the Windows Phone platform was the smallest of the three, but with a reasonable chance for a comeback. By the time we were able to fully start the Windows Phone app development, those chances of a comeback had unfortunately dwindled. We decided to persevere.

We had already made promises to people using Toshl on Windows Phone. Promises which we intended to keep. The wireframes and designs were long ready, as was our Windows Phone developer, who was previously helping to build parts of the new Toshl backend system. If nothing else, the platform’s market share seemed sufficient to at least recoup our development costs with the new Windows Phone version.

 

We then hurried to catch up with the other two Toshl mobile apps. Made plans, time estimates, reviewed the designs once more, kept developing. Time estimates unfortunately turned out to be overly optimistic. The release still seemed in sight, we re-evaluated the plans, set some new deadlines and went back to work.

While the app showed a lot of progress and seemed ready for Beta testing at a superficial glance, it still had major reliability issues which prevented us from moving out of the internal alpha testing stage. Some of the features of the other apps were still omitted for expediency’s sake. We’d had to finish them later on, while still maintaining the apps and fixing some bugs which inevitably crept in. This, coupled with the rapid fall of downloads on the Windows Store as well as the general market share of the platform brought in the heavy realization.

We cannot go on developing for Windows Phone.

Breaking our promise to finish the 2.0 version for Windows was the last thing we wanted to do, but circumstances unfortunately left us between Scylla and Charbydis. We have to consider the future of the entire Toshl company and apply ourselves to projects which will enable the company to prosper and evolve for a long time to come.

 

What now?

We are stopping the development of the Windows Phone app.

The current version of the app will be available on the Windows Store until May 15th, when it will be withdrawn.

The sync of the current app and other old Toshl v1 apps will continue to work until September 2017 when we will be shutting down the old system.

The v2 apps will continue to sync normally throughout this time. Make sure you have syncing turned on. By syncing, your data form the Windows Phone app is automatically backed up on the server and you can access it using the v2 web app or other Toshl apps.

 

Toshl Pro

Some of you might have already bought yearly Toshl Pro subscriptions going past September 2017. Sadly we won’t be able to provide services on Windows Phone beyond that point. You will be able to continue to use the toshl.com web app and Toshl apps on other mobile platforms with the same Toshl account.

If you would like a refund for the part of the Toshl Pro subscription beyond September 2017, please contact us on support@toshl.com.

If you upgraded using in-app purchases inside the WP app, things are a bit more complicated as the payment system there unfortunately does not enable us to process the refunds ourselves. Please contact the Windows Store support. Alternatively, we can offer an extension of Toshl Pro for use on other platforms if that is an option for you.

 

What will you do with the existing work on the app?

Not much really. As we can’t invest further resources into it, I am afraid it will only be archived. We are willing to share our existing source code if you would like to make an unofficial Toshl client app connecting via the developer API.

If you’re a coder and this sounds like an interesting challenge, please contact us and we’ll do what we can to help.

 

 

We once more offer our sincere apologies for this turn of events and hope that you continue to use Toshl apps to help with your finances in the future.

Posted in Announcements

Feature time! Planning Is Here.

With finances, planning matters.

That’s why we have a new feature for you, called “Planning“.

We really went crazy with creativity when naming it.

 

Here is how it looks like:

manage money - monthly balance manage money - expenses

It’s a 14 month graph of your monthly balances, expenses, incomes and total net worth of your financial accounts.

With the help of filtering you can also check out your past spending for specific categories, tags, financial accounts and even locations.

Fire up the estimates and you can even try to predict the future.

 

Try Planning

 

Want to know more? See the financial planning tutorial

Still have questions? Ask us

Like the feature? Upgrade to Toshl Pro

 

 

Together with the planning feature, we’ve also updated the web app with a bunch of other minor improvements.

  • days of the week are now displayed in entry lists
  • fixed the filter for excluding locations
  • if you had a budget in a foreign currency, the sums in budget history or the “remaining categories” budget could be a bit off, this is fixed now
  • better explanation if your category budgets overlaps with an existing one
  • clearer instructions in the user settings (Me) for people who subscribed to Toshl Pro using Apple’s in-app purchases on iOS
  • nicer confirmations after importing
  • setting the default financial account by dragging it up the account list now works more reliably
  • fixed a discrepancy with mobile apps when calculating “left per day” on the Monthly overview graph
  • reminders on expense and income details are better positioned
  • you can now exit expense and income details by pressing Esc on the keyboard
Posted in Announcements

Financial Planning (Web App)

Know your past spending and earning patterns, plan for the future. This is what the Planning graph is all about.

There are 4 different tabs on top, to help with different parts of your financial plan.

 

Balance – monthly balance of incomes and expenses

This balance is separate for every month and is calculated like this: “incomes this monthexpenses this month” = “monthly balance“. For total balance in all time, see the net worth graph.

Staying above the 0 line is crucial. At least on a yearly average, if it doesn’t exactly work out every month.

financial planning - monthly balance

 

Expenses – spending per month

Shows the sum of expenses each month, but can also be filtered to display spending on certain categories, tags, locations and financial accounts.

financial planning - expenses

 

Incomes – earnings per month

Shows the sum of incomes each month, but can also be filtered to display earnings on certain categories, tags and financial accounts.

financial planning - incomes

 

Net worth – total balance of your financial accounts

These funds accumulate if you have regular surpluses on your monthly balances. The amounts reflect the account balances at the end of the month.

financial planning - net worth (total account balance)

 

Click & hold for details and a lollipop

To get the exact value for each column, click and hold somewhere on the graph.

A “lollipop” will show up, displaying the exact value for the month.

Past months will also display averages for the latest 12 months, while future months can also show estimates for the period.

financial planning - financial month details (lollipop)

toshl accounting monster with lollipop

River flow – see the financial flows each month

You’ll notice that the River flow graph is displayed below the multi-month graph. It shows how your incomes and expenses compare to each other and your budget in an individual month. If you have a monthly budget for all expenses, it will include it in the calculation as well, so you’ll know how much you can spend while keeping within your budget limits.

 

Travel in time

14 months are shown on the graph. By default 8 past ones, the current month and 5 future months.

You can move through time by using the < > arrows on the left and right side of the graph or by using the general time span settings on the top of the page.

If you’re interested in sums for a certain period, you can also select a custom time span. The selected months will be displayed in darker color below the graph and you’ll see sums for the entire period.

financial planning - custom time span

 

 

Filter by category, tag, account, location

You can zero-in on specific data you’re interested in and want to see over a longer period of time.

Let’s say you want to know how your spending on Food & Drinks varies in time. Click on “Expense categories” in the right sidebar, “Select categories” and click “Food & Drinks”. The graph will immediately filter to show you only spending data for the Food & Drinks category, so you can see how it varies through the year.

You can narrow it down even further by selecting a tag. Do the same in the “expense tags” section and you can see how much you spent only on restaurants, alcohol, groceries or a combination of multiple tags.

financia planning - filer by account, category, tag, location

You don’t have to pick only one filter. They can be combined. For example, you can set it to only show expenses paid with MasterCard (financial account), for Leisure (category) for books, movies and music (tags) in HMV Manchester Arndale (location).

This filtering is global, so it will work with all the data in Toshl apps. You can also turn off the filtering panel by clicking on top right, to reveal the expense list below. Any filter that’s applied will be displayed on the top right next to the filtering funnel icon. If no filters are applied, it will just say “All accounts”.

 

Estimates and planned expenses

You’ll notice that the future months aren’t as colorful on the graph. That doesn’t mean that the future isn’t bright, just a bit hazy for now.

The semi-transparent columns in future months can display your planned entries, future estimates or both.

financial planning - estimates and planned entries

 

Planned entries

These are the expenses, incomes and transfers you have already entered into the future, or were generated automatically based on the repeating entry settings that you have set earlier. We advise to add much of these as you can possibly predict. They’ll help you plan your future months so you can keep financial stress down to the minimum.

These planned entries can be set to display in the graph or not. You can set this by clicking the month on the top of the page, then setting the switch for Planned ON or OFF. This will also affect other graphs in Toshl.

 

Estimates

Estimates project your past trends in earning and spending into the future, providing a rough guide of what to expect with your balances, spending, earnings or net worth if the current trends continue as they have so far.

As it’s based on your past data, the more time you’ve been tracking your finances with Toshl, the more precise they can become. We’ll also be improving the algorithm for this over time, so it will become better at guessing your spending patterns.

You can switch estimates ON or OFF in the filtering sidebar on the right side of the graph.

 

 

The Planning feature is available with Toshl Pro. Manage and save money better for the price of a coffee per month.

Improving and maintaining apps takes resources and time. By upgrading, you’re supporting the future development of Toshl Finance. Thank you!

Posted in Tips & Tricks, Tutorials, Web App Tutorials

16 Cryptocurrencies With Fresh Exchange Rates Added to Toshl

This seems to be the golden age of currency innovation. A lot of new, alternative currencies have cropped up in the last few years, outside of the traditional government, central bank systems and fueled by cryptocurrency innovations.

When using the new currencies, it can be a bit of a hassle to keep track of all of them and their sometimes wildly fluctuating exchange rates. Toshl is here to help.

We’ve just added support for 16 new cryptocurrencies. You can add expenses, incomes, transfers, budgets and financial accounts in these currencies. They’ll work just like any other currency on Toshl, including having always updated and fresh exchange rates.

 

Quick tip: If you have a financial account in a foreign currency, the value of that account is automatically updated with fresh exchange rates. This way, you can always know your exact net worth in your main currency, no matter how many different currencies you use on your financial accounts.

 

The 16 newly added cryptocurrencies

BitShares (BTS)

EarthCoin (EAC)

Emercoin (EMC)

Ethereum (ETH)

Factom (FCT)

Feathercoin (FTC)

LiteCoin (LTC)

Namecoin (NMC)

NovaCoin (NVC)

Nxt (NXT)

Peercoin (PPC)

Stellar (STR)

VertCoin (VTC)

Monero (XMR)

Primecoin (XPM)

Ripple (XRP)

 

The new currencies have already been automatically added to the Toshl Finance mobile and web apps, no app update is necessary.

 

cryptocurrencies grown on trees

With so many new cryptocurrencies, one could think they practically grow on trees. Toshl monsters do in fact grow their currencies on trees, they claim they’re more “natural” that way.

Posted in Announcements, Tips & Tricks

What are Your Financial Goals?

This is a guest post by Miha Slekovec, an avid user of Toshl Finance and an explorer of financial self-improvement.

 

Let’s take a step back and look at a bigger picture of the personal finance world. It can be much more than just keeping track of your monthly expenses. If done the right way, it can lead to the personal freedom many people are craving for – financial independence. Personal finance need not be just a monthly choir, or a task. It can be the first step on a ladder which leads to financial independence. The ladder has five steps and it starts with budgeting. Good budgeting leads to creating savings, which can then be invested. With a correct investment strategy you can create assets, and with enough assets you can reach your financial freedom. For details take a look at the picture below. Start at the bottom.

The beauty of the system is that you can step up and down the ladder according to your financial goals. The solid foundation is keeping your monthly finances in order. Without that you cannot search for possible savings in your spending. Monthly budgeting lets you identify the weakest points of your monthly money flow and it shows you what needs to be improved. These improvements lead to (extra) savings, which you can then use in whichever way you want. Maybe you want to save for that great vacation you wanted to go on for years? Or maybe you want to put the money on the side for that dream home you want to buy in the future? Maybe you want to invest it?

Here we are entering a new territory. In sports terms, budgeting/saving is playing defence, while investing is playing offence. There are many ways to score, but you must know what you are doing, especially in the long run. But don’t despair, there are many ways to invest and many sources to learn about investing. Just remember some basic rules: invest in only what you know, be prepared to lose your money, and don’t be greedy.

Be careful where you invest, as different countries have very different tax codes and regulations about investing. What is possible in the USA, is not necessarily possible in Germany. And the possibilities of investment in France differ from those in Japan. Make a study of what you can do in your country. A good general resource to start is JL Collins: The Simple Path to Wealth. The book offers good insight into the stock market for first time investors and helps you avoid some of the common rookie mistakes. For a few alternative resources try books by Jack Bogle or Benjamin Graham.

 

The most important question is – what do you want to achieve with your finances? Where do you want to enter and where leave the ladder?

Posted in Guest posts, Personal finance, Tips & Tricks