Bluecoins App Review – Best Android Expense Tracker App

In my journey of learning about managing my own finances, I learned that recording my transactions is important to gauge my spending pattern. Apps have played a rather important role by helping me record everything I spend on. 

I have used so many expense tracking app over the years but none have withstood the test of time as Bluecoins. 

Bluecoins App Review

I have used Bluecoins since April this year and boy, am I blown away by the sheer functionalities it provides.

Before I settled on this app, I have tried many other apps but none could satisfy my requirements. I wanted something that can

  • Input daily transactions
  • Record my assets and liabilities
  • Budget according to categories 

Previously, the apps that I've tried either has one but not the other functionalities so it's pretty frustrating. Bluecoins ties everything together nicely in a small, lightweight package.

The user interface is easy to get used to. The main tab functions as your dashboard which gives you a quick, bird's eye view of your transactions and your monthly spending so far. Best of all , you can edit the kind of information you want to be displayed.

It's the granularity of the information and the freedom Bluecoins provides that made me fall in love with the app. I can choose not to display certain categories in the total calculation to avoid confusing myself and wondering where some of my money went to.

Best Android Expense Tracking App out there thus far

My verdict is this: Bluecoins is the one app you shouldn't skimp on if you're serious about having your finances under control. 

That being said, it takes a modicum of discipline to actually develop the habit of keying in every single transaction you made. Once the habit develops, it becomes almost second nature to record whatever you do with your money into the app.

Financial Tips for Young Malaysian Doctors

If you’ve just started housemanship, congratulations, welcome to the real world. The feeling of having money rolling into your bank account every month must be something new for many of you, especially if being a houseman is your first real job. However, your hard-earned money can be easily wasted if you’re not careful enough. I have listed a few tips that I personally use during my houseman years, and which I still practise until today.┬áHere’s my top personal finance tips for young doctors.

1. Spend beneath your means

This mantra is often repeated yet rarely followed. Why? It’s actually really difficult to follow! I made it a habit to track my personal finance using apps. I have tried many, and currently BlueCoins remains as my favourite app for tracking my expenses (unfortunately it is only on Android). Make it a habit to enter every single money transaction into the app and before long you’ll start to see patterns in your spending, and even discover a thing or two about yourself. It is really crucial to know small unnecessary leakages from your spending habit before they drown you in a financial cesspool.

2. Save at least 10% of your income

Housemen’s take home pay is a considerable amount. Start building your net worth by making a habit to save at least 10% of your income. I suggest opening a new savings account and siphoning off a portion of your hard-earned money into it, and make it a separate account from your day-to-day spending. Always remember to practise this step because it ties to the next habit you should form, which is –

3. Pay yourself first

What does it mean to pay yourself first? Average people slog their asses off to get their wages at the end of each month. The first thing they’d do when they get the money is to pay bills, go out and splurge on things. Then only they save whatever is left. Savvy people like you don’t do that. A savvy young doctor like you, would save a portion of your income as soon as it hits your bank account, and THEN use whatever remains to pay off your bills and whatnot. See the difference? That’s why it would be useful to have a separate bank account, so you can siphon off a portion of your salary straight into another “trust fund” and not touch it. It helps your build discipline and prevents your from spending unnecessarily.

Make time your ally, and use the powerful force of compounding to increase your net worth. I hope these few tips can help you kickstart your journey towards financial responsibility.