If you already enjoy using our new Insights “Spending habits”, which were unveiled a couple of weeks ago, we have great news for you. We just released our second set of Insights for “Spending habits”. Four new Insights that let you explore your expenses in more detail.
In the first release, we delivered AI powered information on your spending habits at merchants, as well as certain days of the week, and your spending on average month by month. Now, we take a more granular look at your spending habits and categorise them for you. This is the next step to understand how, when, and where you use your money for what.
Setting up the new release of Insights is quick and easy. Click on the Insights icon in your bar and you can choose the new features with one tap. You will find the new Spending habits insights right on the main screen.
So what do we have in stock for you? Let’s take a look at the new Spending habits insights.
We all know, bringing order into something helps us in many ways. It can calm the mind and makes it easier to assess something. If you ever wondered how all these smaller transactions in your bank account amass to in total, we have the answer for you.
Our Insights identify transactions in your account that are not categorised by default. You can see them all in one place, as well as the amount you spent in total. You can then edit every transaction manually and categorise them. Our algorithms learn from it to do the job for you in the future. If you use this feature over time, you will bring your finances in order.
For certain things, we sometimes ask ourselves “is this really necessary?”. Only you can answer this question for yourself. The underlying conflict however is the assessment of how much you spend on things that are really important in contrast to what you spent on things that are not.
The answer might help you to make a faster evaluation of your planned spending. The Insight “Important categories” divides your expenses into exactly that – important and unimportant. Once you begin categorising your expenses and transactions, the Insight generates results, based on that data.
You can dynamically switch between important and unimportant, whenever you see fit. So every time you ask yourself the question “is this really necessary?”, consult the Insight to see if your spending is in line with your financial planning.
“Frequent category” in part builds upon the first two Insights we addressed already. Based on your input, this Insight provides regular updates for the most frequent category for spending money.
Whether it is groceries or clothing, “Frequent category” lets you know every month. If you set budgets for certain types of expenses, the Insight informs whether you exceeded or saved some of your budget.
If you discover that you regularly spend more, you can quickly edit your budget for groceries to match your current spending habit.
It is an age-old debate whether cooking at home is more economical than eating out or ordering food. No matter what your stance on that question is, this Insight lets you know quickly what your eating habits are.
The algorithms identify when and where you decided to get food instead of cooking it while also leveraging the groceries category to compare your spending. Food is one of the easier areas to save money, if you plan on doing so. This Insight helps you to understand your monthly routines for spending money on food. Which ultimately puts you in position to make a change, if needed.
With Spending habits insights, you have the tools to get your expenses analysed continuously. Insights get smarter with every new transaction and show you how and where you spend your money. The release includes all new smart notifications. Receive regular updates on your spending habits through notifications right on your homescreen.
So get started right away and set up the new Spending habits insights from the homescreen of your Numbrs Wallet. AI powered analysis is just one click away.
If you like to know more about the new features of Numbrs Wallet, head to www.numbrs.com. If you have any further questions or comments, you can always contact our friendly support team. You can reach us via chat in the app or via email at email@example.com.