Q&A with Damian Toohey – Creator of Budget Boss

Damian Toohey explains the features of his Budget Boss personal finance appAfter taking a look recently at the Budget Boss personal finance app, I was lucky enough to get the chance to ask it’s creator – Damian Toohey – a few questions.

Damian, first of all, thanks for taking the time out of your busy schedule to answer a few questions for us!

DT: Thank you for the opportunity to share Budget Boss!

For anyone who hasn’t used it yet, can you explain who the app is aimed at and what it does?

DT: Budget Boss is designed to help individuals or small businesses plan their budget and set financial goals. Having a solid budget plan is very important, and Budget Boss will give you a clear picture of your finances after only a few minutes of setup.

Budget Boss takes the income and expenses that you define and performs a cash-flow analysis, predicting your account balance into the future. This forward perspective helps you monitor upcoming payments and avoid overdraft, and the long-term trends (up to a 2-year forecast) show your savings potential. With Budget Boss, you quickly learn what kind of savings or debt payoff you’re capable of.

It’s also useful for planning for contingencies. For example, what happens to your margin and cash-flow if you take on a car payment, or get a raise at work?

See how making adjustments to your budget will affect youBudget Boss is constantly predicting your future balance based on your budget model. You can always make an adjustment to the current day’s balance to re-calibrate the forward propagation. These adjustments are then saved so you can track how well you are following your budget and may help you identify any expenses you forgot to model.

What do you think sets it apart from other personal finance apps out there?

DT: There are many great personal finance apps out there. Mint is an awesome account aggregating app that I like to use, and Ace Budget is excellent at helping you monitor spending habits and stay on budget.

What makes Budget Boss unique is that it looks forward rather than back. That forward perspective is a valuable tool when planning a budget as it shows you the savings you‘ll achieve if you stick to your plan. And since Budget Boss is always looking forward, it doesn’t rely on past spending habits built up over time before it can show you anything useful. You get a lot of insightful data after only a couple minutes of use.

project future savings with this appBudget Boss also puts a heavy emphasis on data visualization to help make budget planning more intuitive and interesting. I feel that the advanced graphing features stand out from the other apps that are currently available. For instance, the cash-flow graph is very helpful, both for the short-term balance predictions and long-term trends. Seeing your balance plotted out into the future is pretty cool and also great motivation to stick to your budget.

Do you have any upgrades or changes planned for Budget Boss?

DT: Yes! An update recently was submitted to the App Store and should be available for download in a few days. The user interface design has been upgraded, and French and German language support was added. Going forward, the priority will be to add iCloud functionality so users can sync their budget data between multiple devices.

I plan to update Budget Boss regularly as I get feedback from its users, so I’m very interested in hearing any suggestions you and your readers have.

Any plans for an Android version?

DT: No active plans yet, but I hope to get started on an Android version within the next few months.

Any other apps in the works that you can tell us about?

DT: There are a couple other apps I’m working on, both completely different. One is a music app, and the other is a game about robots that my kids want me to make. I plan to keep working on them in parallel until one starts to show more promise, though lately I haven’t had much time to devote to either of them.

App development is not my day job. Right now most of my free time is spent on Budget Boss, but hopefully I can start focusing on a new app by the end of the year.


Finnoggin iconThe newly updated version of Budget Boss can be downloaded from iTunes for 99c, and you can keep up to date with Damian’s app development at his site: Finnoggin.

Philip

5 Comments

  1. I’m curious about the app, this is the first I’ve heard of it. You mentioned that it’s available in the Apple store, but hopefully there’s a Google Play version as well? I love my Droid phone and would never switch, but it seems like iPhones are getting all the fun toys lately.

  2. I love my Droid as well, but I’ve been able to download Budget Boss on my Ipad and Ipod Touch. I use it everyday and absolutely love it!

  3. Looks like a very useful app.. I have tried other financial apps before but this one looks like it goes a few steps beyond.. Looking forward to checking it out!

  4. Oh, come on. Another great app that isn’t available for Android! Ugh! 😀
    I think any app that helps you keep track of your finances is amazing. But I think many apps should be developed for both iPhones and Smartphones, especially if the developer is trying to sell them (so cheap, by the way). More clients, more money, more happy customers!

    • It is a shame he didn’t get a chance to develop an Android version: it’s actually a very nice app. It’s good to see smaller developers making good stuff though.

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