General
What is the Savings screen?
This screen contains a list of sources where the money you save goes to. This includes, among other things, retirement, emergency fund, or any extra money above the minimum payment being used to pay down debt more quickly. The app comes with some built-in savings sources that cannot be deleted. However, they can be edited. You can also add or edit any new ones.
What is the Wants screen?
This screen contains a list of sources showing where you are spending money on things you want in your life. This includes, among other things, dining out, vacations, or anything you could stop paying if you had no money. The app comes with some built-in wants sources that cannot be deleted. However, they can be edited. You can also add or edit any new ones.
What is the Needs screen?
This screen contains the list of sources showing where you are spending money on things you need in your life. This includes, among other things, your mortgage, rent, or anything you cannot easily stop paying if you had no earnings. The app comes with some built-in needs sources that cannot be deleted. However, they can be edited. You can also add or edit any new ones.
What is the Total Spending screen?
This screen contains the three categories that your spending sources are categorized in. The categories are your needs, wants, and savings. All of the money you spend usually goes to one of those three categories.
What is the Total Earnings screen?
This screen contains the list of sources where the money you make comes from. You can add, edit, and delete your earnings sources here.
What is the Cash Flow Summary screen?
This screen shows the total amount of money you earn and spend on a monthly basis. It also tells you whether you have a spending deficit or surplus, giving a highlevel view of where you are.
Reports
What is the Savings By Source report?
This report displays a list and pie chart of your savings spending. The list is sorted from the most to least percentage of your total savings amount.
What is the Spending On Wants report?
This report displays a list and pie chart of your wants spending. The list is sorted from the most to least percentage of your total wants amount.
What is the Spending On Needs report?
This report displays a list and pie chart of your needs spending. The list is sorted from the most to least percentage of your total needs amount.
What is the Earnings By Source report?
This report displays a list and pie chart of your earnings sources. The list is sorted from the most to least percentage of your total earnings.
What is the Spending vs Target report?
This report is a key report to this app. It shows the percentage of your earnings that are going to your spending categories – needs, wants, and savings. This is compared to the recommended target percentages found in the book. The color code (red or green) will specify whether you have satisfied the target (orange colored) for any given category.
What is the Cash Flow Summary report?
This report is a bar graph representation of the Cash Flow Summary screen. It shows you a color-coded bar of the monthly your bring in and take out.
Options
How does DB Sync work?
You have the ability to sync your data with another iPhone. This becomes available only after you have purchased the full version of Moneywyn.
The following are tips on how to make it work.
- Both iPhones need to have Bluetooth enabled. Go to Settings–>General–>Bluetooth
- In the Moneywyn app, tap Sync button
- Wait for list of available iPhone you can sync with; there should only be one if you are near no other phones
- Select iPhone to sync with in your list
- Other iPhone should get similar pop up list to select for syncing
- On your phone, you should get option to send data
- Other phone should get option to receive data
What does “Reset Data” do?
This option will delete the numbers you have entered for all of your sources. However, it will not deleted any newly added sources.