APP Piggy+ is like the Swiss Army Knife of personal finance apps, giving you all the tools you could ever need to keep track of your money.
Users can do things like create daily, weekly, or monthly budgets, manually input information about purchases, and get detailed, visually pleasing expense reports. A “ticker” on the top of the screen shows you how much you have left in each budget, while a summary screen shows you where, with whom, and on what you spent your money.
I know all this sounds pretty boilerplate for a personal finance app, but APP Piggy + has a couple special features that make it really stand out of a very crowded marketplace.
The first is a location-based function that makes guesses about where you’re spending your money. If APP Piggy + notices you’re at McDonald’s, for example, it might prompt you for information about what you ordered and how much you spent.
The second is a feature that shows you detailed graphs about how other users like you behave financially. You can see, for example, what percentage of their income your peers are saving, saving, or blowing at bars and restaurants.
Here’s why we think APP Piggy + is a great role model for up and coming financial app makers:
1. It’s not just a “personal finance app”
APP Piggy + synthesizes the social with the financial-you see which friends or family members you spend the most money with, and at which venue. That’s a connection a lot of other financial apps don’t make because they’re too focused on the arithmetic of money in vs. money out. Integration with social networks also means a lot of exposure for APP Piggy +, and thus a lot of new users.
2. It uses geo-location to keep users engaged
One of the downfalls of a lot of personal finance apps is that users constantly have to input data about where they are and what they’re buying. APP Piggy + does the footwork for users by picking up on their location, and prompting them to fill in details about expenditures. This means a more active and engaged user base, and an overall better app.
3. It’s got a lot of room to grow.
Though the app is free, the founders of APP Piggy + are currently working on “closing the loop” between personal finance and payments by offering P2P transfers, bills, and in-store payments. A small fee or percentage charged on each of these would mean a tidy profit for this startup.
The founders of APP Piggy + are based in Dubai, and working with $450,000 in seed money they picked up in May of 2014.
If you want to try it for yourself, you can find APP Piggy + on Google Play and the App Store for free.