5 Reasons Labels are Better than Subcategories
We were playing with the idea of better and more organized categorising for quite some time — but instead of blindly jumping into the solution that might have striked us first — we gave it some thought, because we wanted to do it right.💡 After numerous interviews with our users & brainstorming the finest ideas — labels were born. 🎉 Here are some of the reasons why we think that labels are more suitable for organising your expenses than Subcategories:
1. Labels Are Universal 👽
As we already touched in the Labels Explained article, the system is designed to make Labels everything you want them to be. Do you want to use them purely as Subcategories? Go for it! Would you like to keep track of occasions — such as weddings, vacations or birthdays? Maybe you’d love to label your savings, needs and wants to follow the 50/30/20 budgeting rule. Perhaps you’d love to see the ratio of card vs. cash spendings. Possibly, you’re super organized and you track names of the supermarkets… The options on what to track are endless.
2. Multiple Labels on 1 Transaction 🧩
That dinner you just had fell into the Food & Drink category. If you used subcategories, maybe you’d go for “restaurant”. 🤷🏼♂️ That’s where labels come handy. Because that meal is also a “Dinner 🍽”, more specifically “Pizza 🍕” that you had on a “Date 💘” in “Italy 🇮🇹” and you paid for it by “Card 💳”. To enjoy this subscription feature, try out our free trial and go crazy with those labels!
3. Labels Are Independent (from Categories) 💪🏼
Another reason why labels are practical is that they can be used across all categories! 😱 You can easily see how much you spent in the “Dinner 🍽” label — even though you used it for transactions related to your Groceries or Food & Drink category.
4. Labels Are Easy & Dynamic to Add! ✅
Labels aren’t a fixed set. You can have as many of them as you wish, depending on what suits your spendings right now. And what’s even better is that you’re able to choose them just with one click, because their order is automatically arranged by their usage! 😍
5. Labels Will Enable Analysis You Didn’t Even Dream Of 📊
That’s right, this fresh system will allow us to build new exciting graphs & analysis of transactions and budgeting. Within the scope of one label, you’re able to analyse transactions falling into different categories or various situations. 🤓 Getting excited?
📚 Do you want to read more about Labels?
We’re very thrilled that Labels are a part of Spendee, and that it’s such a comprehensive system opening us doors to many new possibilities. What’s your favourite thing about labels? 🤔 Let us know in the comments!
Don’t forget — using multiple labels for one transaction is a subscription feature! Try it in the free trial 👀
