How I found Yolt?
Somewhere between Aug-Sep 2016 I was looking for one app to help track and view my spending across the multiple bank accounts and credit cards I used daily. Yolt was no where to be found on the Google Play Store search list, so I went through roughly three or four apps - all of them failing to do what I wanted, and read through a bunch of online articles before I found Yolt.
What was I looking for?
The problem I had with the other apps was the need to manually enter every purchase I made.
I was moving money around frequently between my accounts and spending across many credit cards for different reasons, some personal spend, some business spend, sometimes money loaned to family, basically it wasn’t easy to keep track of the movement of money between all my accounts.
To find out what I had purchased for any given day, I would have to login into four different banking apps, look through my transactions, make a note of the date, what category the purchase belonged too, log out of the banking app, login into the money tracking app, and re-enter my spending. This was far too much work. These apps worked pretty much like an excel spreadsheet. And again, this is not what I was looking for.
What were my initial impressions of Yolt?
A useful feature, which I did not take notice of at first, was the 3 month spending average for each of my spending categories. This feature provided a visual spending pattern for some spending categories, which meant I was able to create a spending plan which worked for me and was tailored to my typical spending.
How could the app be improved?
In contrast to other apps I'm currently using, Yolt doesn’t easily show where you spending goes within a broad category. This is the reason I use other apps in addition to Yolt, with other spending tracker apps I’m able to label and create very specific spending categories, for example – ‘Bills’ can be separated into: broadband, mobile phone, groceries, fuel/petrol, council tax or rent. With Yolt, you are not able to do this. For me, this lack of customization is a major drawback of using Yolt. At the time of writing, Yolt only allowed me to add one out of two current accounts I have with Bank of Scotland. Which was also the case for Lloyds bank. ‘Currently we can only support one set of credentials for bank of Scotland’. However it looked like this applied only to the two banks mentioned.
How do I use Yolt day to day?
I’ve ended up using Yolt as a way to view my bank (5 in total) and credit balances (more than 5 accounts) within 5 seconds,
When you first login, right at the top of the app, you see the title ‘Total balance’, Press your thumb on ‘Total balance’, and you are shown all the individual balances for every account and credit account you have linked.
Yolt is quick, easy to use, looks amazing and if you decide to use, will help you track your spending. I only wish the app allowed more customisation in regards to the spending categories.