Comments on: Coming soon… TrackEveryCoin, a personal finance system http://www.swaroopch.com/blog/coming-soon-trackeverycoin/ Conning people into thinking I'm intelligent. Since 1982. Thu, 09 Feb 2012 08:24:02 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Sumit Mehrotra http://www.swaroopch.com/blog/coming-soon-trackeverycoin/comment-page-1/#comment-128040 Sumit Mehrotra Mon, 08 Jun 2009 14:22:29 +0000 http://www.swaroopch.com/?p=1820#comment-128040 <p>Hey Swaroop,</p> <p>Device looks good. I wish you all the very best. Just remember , Indian market is more about Execution than Innovation.</p> <p>So keep innovating but focus more on Execution.</p> Hey Swaroop,

Device looks good. I wish you all the very best.
Just remember , Indian market is more about Execution than Innovation.

So keep innovating but focus more on Execution.

]]> By: Swaroop http://www.swaroopch.com/blog/coming-soon-trackeverycoin/comment-page-1/#comment-126984 Swaroop Tue, 26 May 2009 07:40:15 +0000 http://www.swaroopch.com/?p=1820#comment-126984 <p>@Sunil @Manu Yep, so one of the features is that the hardware/mobile app will show you the remaining expenditure budget for the month before you enter an expense, giving you ample opportunity to rethink the purchase :)</p> @Sunil @Manu Yep, so one of the features is that the hardware/mobile app will show you the remaining expenditure budget for the month before you enter an expense, giving you ample opportunity to rethink the purchase :)

]]> By: Sunil Jagadish http://www.swaroopch.com/blog/coming-soon-trackeverycoin/comment-page-1/#comment-126971 Sunil Jagadish Tue, 26 May 2009 04:54:56 +0000 http://www.swaroopch.com/?p=1820#comment-126971 <p>@Manu - Agree with you.</p> @Manu – Agree with you.

]]> By: Manu http://www.swaroopch.com/blog/coming-soon-trackeverycoin/comment-page-1/#comment-126969 Manu Tue, 26 May 2009 04:22:42 +0000 http://www.swaroopch.com/?p=1820#comment-126969 <p>@swaroop: you can start with credit cards as that is a significant mode of payment</p> @swaroop: you can start with credit cards as that is a significant mode of payment

]]> By: Manu http://www.swaroopch.com/blog/coming-soon-trackeverycoin/comment-page-1/#comment-126968 Manu Tue, 26 May 2009 04:12:57 +0000 http://www.swaroopch.com/?p=1820#comment-126968 <p>@sunil : Most people think twice before spending a large sum of money. (but what is large is person specific). But quite a lot of times it happens that the biggest/or significant portion of your expenses are the small tickets items which by sheer volume will amount to a considerable expense. Keep track of your expenses, for a month and see for yourself. A post mortem is definitely quite useful.</p> @sunil : Most people think twice before spending a large sum of money. (but what is large is person specific). But quite a lot of times it happens that the biggest/or significant portion of your expenses are the small tickets items which by sheer volume will amount to a considerable expense. Keep track of your expenses, for a month and see for yourself. A post mortem is definitely quite useful.

]]> By: Sunil Jagadish http://www.swaroopch.com/blog/coming-soon-trackeverycoin/comment-page-1/#comment-126966 Sunil Jagadish Tue, 26 May 2009 03:39:18 +0000 http://www.swaroopch.com/?p=1820#comment-126966 <p>Cool idea! As one of the folks above mentioned, better than a postmortem of spending, would be to really think twice or thrice or many more times before actually buying something. Every time I go to METRO (the store), I see tons of things which would be cool to buy, but, I question myself, whether I really need it? Can I do without it? So, analyzing spending after the money is spent is fine, but, the real challenge is to make one think twice just before spending.</p> <p>All the best! :-)</p> Cool idea! As one of the folks above mentioned, better than a postmortem of spending, would be to really think twice or thrice or many more times before actually buying something.
Every time I go to METRO (the store), I see tons of things which would be cool to buy, but, I question myself, whether I really need it? Can I do without it? So, analyzing spending after the money is spent is fine, but, the real challenge is to make one think twice just before spending.

All the best! :-)

]]> By: Swaroop http://www.swaroopch.com/blog/coming-soon-trackeverycoin/comment-page-1/#comment-126962 Swaroop Tue, 26 May 2009 02:32:19 +0000 http://www.swaroopch.com/?p=1820#comment-126962 <p>@Manu That's an interesting idea, and something we did consider along the lines of what YourBillBuddy.com and ShoeBoxed.com are doing, something we'll look into again in future.</p> @Manu That’s an interesting idea, and something we did consider along the lines of what YourBillBuddy.com and ShoeBoxed.com are doing, something we’ll look into again in future.

]]> By: Manu http://www.swaroopch.com/blog/coming-soon-trackeverycoin/comment-page-1/#comment-126907 Manu Mon, 25 May 2009 16:52:37 +0000 http://www.swaroopch.com/?p=1820#comment-126907 <p>Hmm.. Here is an idea.. I know that direct syncing with banks and credit cards in india can probably take quite a long time to happen as banks will have to provide access to their data which I don't think they provide for anyone now.</p> <p>What they do provide are internet bank statements. If you are able to extract data out of monthly creditcard statements and bank statements, you have a winner here.</p> Hmm.. Here is an idea.. I know that direct syncing with banks and credit cards in india can probably take quite a long time to happen as banks will have to provide access to their data which I don’t think they provide for anyone now.

What they do provide are internet bank statements. If you are able to extract data out of monthly creditcard statements and bank statements, you have a winner here.

]]> By: Swaroop http://www.swaroopch.com/blog/coming-soon-trackeverycoin/comment-page-1/#comment-126857 Swaroop Mon, 25 May 2009 05:31:41 +0000 http://www.swaroopch.com/?p=1820#comment-126857 <p>@Rohit Yes, you've understood it well on why our approach works especially well for the Indian context :) ... We have made the typing as easy as possible and even fun to use, it is definitely one of the major things we've looked at... A free version, as you have recommended, is on the cards. Pulling from bank accounts is something we'll look at in the long-term. Thanks for the detailed feedback and thoughts!</p> @Rohit Yes, you’ve understood it well on why our approach works especially well for the Indian context :) … We have made the typing as easy as possible and even fun to use, it is definitely one of the major things we’ve looked at… A free version, as you have recommended, is on the cards. Pulling from bank accounts is something we’ll look at in the long-term. Thanks for the detailed feedback and thoughts!

]]> By: Rohit Pagariya http://www.swaroopch.com/blog/coming-soon-trackeverycoin/comment-page-1/#comment-126851 Rohit Pagariya Mon, 25 May 2009 03:52:54 +0000 http://www.swaroopch.com/?p=1820#comment-126851 <p>I personally use Mint.com and Billmonk.com to keep track of my expenses here in US. Both of them are free and easy to use. Yours is a neat idea in Indian context where online banking and use of credit cards is not widespread. In this scenario, having a hardware device or a cell phone app to keep track of expenses is very handy. While in India, I used to maintain a journal and ledger for my expenses. While this helped me keep track of the expenses, analyzing them was not an easy task. Your project nicely fills in that void for people like me.</p> <p>One of the possible impediments to your project could be that user will have to type in every transaction in TECI/ cell phone app. This could be a cumbersome task. You should also think of providing a free web account to use your service like Mint.com. This would make your service something to watch for. You should also think of pulling transactions from a user's bank account / credit card account and categorize them. This would be very helpful feature as online banking catches up in India.</p> <p>In all, a great idea but its success depends on how well its implemented and marketed. Keep us updated. All the best.</p> I personally use Mint.com and Billmonk.com to keep track of my expenses here in US. Both of them are free and easy to use. Yours is a neat idea in Indian context where online banking and use of credit cards is not widespread. In this scenario, having a hardware device or a cell phone app to keep track of expenses is very handy. While in India, I used to maintain a journal and ledger for my expenses. While this helped me keep track of the expenses, analyzing them was not an easy task. Your project nicely fills in that void for people like me.

One of the possible impediments to your project could be that user will have to type in every transaction in TECI/ cell phone app. This could be a cumbersome task. You should also think of providing a free web account to use your service like Mint.com. This would make your service something to watch for. You should also think of pulling transactions from a user’s bank account / credit card account and categorize them. This would be very helpful feature as online banking catches up in India.

In all, a great idea but its success depends on how well its implemented and marketed. Keep us updated. All the best.

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