February 25, 2009
Affable expense tracking
If you’ve ever been on the side of frustrated when it comes to managing expenses and budgets, you’re not alone. It’s ironic that today, in an age when just about everyone has online access to their entire lives, that there’s not an expense tracking solution that doesn’t deftly invade your space. Why does it seem like you need to be a finance pro just to stay on top of your day-to-day expenses? Why is managing expenses such a pain in the ass, and more importantly why can’t it be just as fun and useful as something like Twitter?
With two disadvantageous extremes in mind (the antique checkbook register, and an autonomous alien robot from space we call “expensatron”) we set out to create this phantom service that anyone can use. We wanted something mobile, fun, and allows you to take full advantage of it without training.
And just so we’re on the same page, we’re totally into telekenesis and shit like time travel (make sure you check us out at the next TECH Cocktail, we’ve working hard at this) but seriously, why should I risk total and complete identity theft, frozen accounts, and black cubes from outer space just because I’m too lazy/busy to track expenses myself?
So, without further adew, we’d like to introduce you to TextHog. A super simple way to track budgets and expenses online using technology you already use.
What is Texthog and how does it work?
Texthog is a really simple way to track expenses and create expense reports online. When you create an account, you’re given a unique texthog email address to use for posting transactions on the go. By adding this address as a contact in your cell phone, you can send text messages or emails with expenses directly to your account.
Who is the ideal user?
The perfect user is anyone who wants to track their spending, but finds complications in using other software. If you want to track expenses on the go, without pocketing reciepts, or without reconciling bank statements, Texthog is for you.
Do you store any financial information, bank account info, passwords, etc?
Apart from storing payment information in the future for paid accounts, we do not plan to store any sensitive, or invasive information like credit card numbers, account numbers. We strongly believe that cash flow is your business, and believe you can manage it effectively without the risk of storing passwords and access information to your private accounts.
How does Texthog differentiate itself from a service like Mint?
First of all, Texthog is not a set-it-and-forget-it solution. We believe you should stay active and involved not only in your spending, but also your expense tracking and reporting. Texthog gives you a set of tools to manage expenses easily and effectively, without the added cost of storing sensitive information. We take a fundamentally different approach but putting the responsibility of tracking on our users, but the process is simple and fun. Apart from automatic expense tracking, we offer several different capabilities; some of which are the ability to track among groups/multiple users, posting from mobile devices, reminders that you set yourself, attaching reciepts to transactions, yearly reporting and full export to other applications.
What is the revenue model, how does Texthog plan on making money?
While we’ll always have a free account for users that need simple online expense reporting, we have plans to release paid accounts in the near future. These accounts will include advanced features and be aligned for groups, and organizations that need to track expenses online.
TECH cocktail Community Contributed Knowledge
Darren Marshall is the Co-Founder of Texthog. He is also the Creative/Art Director at Doejo Interactive Media (http://doejo.com), a full service creative agency which helps brand and incubate websites and applications for start-ups and small businesses.
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