Scenario: A Trip to Dubai!

Let’s imagine you’re heading to Dubai for your next trip – here’s how Expenzey makes tracking your foreign currency expenses easy. With Expenzey, you can easily track all your spending, convert currencies automatically and stay within your budget. Let’s walk through a real-life example of how Expenzey can help you effortlessly track your Dubai trip expenses.

User: You, a traveler from India (INR being your home currency)
Destination: Dubai (Currency: AED)

Here’s how the app can help you track every step of your spending from pre-trip bookings to expenses during your stay.

Booking Your Trip (INR)

Before you even board your flight, you’ll incur expenses like flight tickets, hotel stays and attraction bookings. Here is what your transaction will be like for bookings (Flight + Hotel + Attractions):

• Currency: INR
• Account: Indian Bank Account (Debit/Credit)
• Labels: “Dubai Trip”, “Bookings”

First Day in Dubai

Now that you’ve arrived in Dubai, your INR is no longer valid and you need to use local currency—AED. Let’s say your hotel asks for a safety deposit in cash. You may use your Forex card or another multi-currency card. Here is a sample transaction:

• Title: Safety Deposit
• Currency: AED
• Account: Forex Card
• Labels: “Dubai Trip”, “Hotel”

This helps you keep track of this expense, clearly noting which account was used and how it contributes to your overall hotel costs.

3. Local commute: Metro Fare

Dubai has excellent public transport and you decide to save money by opting for the metro instead of pricey cabs. You buy a Silver Card for metro travel, but you’ll need to recharge it.

• Title: Metro Recharge
• Currency: AED
• Exchange Rate: Conversion from AED to INR (Let’s assume 1 AED = 22.75 INR)
• Amount: 50 AED
• Account: Debit Card
• Labels: “Dubai Trip”, “Commute”, “Metro”

Expenzey’s automatic currency conversion ensures that you never have to manually calculate the exchange rate. For instance, this 50 AED could equal approximately 1,137.50 INR, but the app does it all for you.

4. Other expenses: Food, Souvenirs & more

As your trip continues, you’ll be spending on food, souvenirs, accessories and experiences. For example, you have lunch at a local restaurant:

• Title: Lunch at Restaurant
• Currency: AED
• Account: Forex Card
• Labels: “Dubai Trip”, “Food”

Or perhaps you buy a souvenir from the market:

• Title: Souvenir Purchase
• Currency: AED
• Account: Debit Card
• Labels: “Dubai Trip”, “Shopping”, “Souvenir”

Each of these transactions can be quickly added to Expenzey using their respective labels to categorize your spending. Over time, you’ll have a clear breakdown of all the labels and how much you’ve spent on each one, including the conversion to INR.

Why labels matter

As you can see, Expenzey makes tracking multi-currency transactions simple and organized. You can assign multiple Labels to each transaction. Some common label combinations for your Dubai trip might include:

• “Dubai Trip”, “Commute”, “Metro”
• “Dubai Trip”, “Food”
• “Dubai Trip”, “Shopping”, “Souvenirs”
• “Dubai Trip”, “Entertainment”, “Photograph”

Once you start adding your transactions, Expenzey will organize them in a way that allows you to view your spending across various categories.

Real-Time analytics

Expenzey’s real-time analytics feature will group your transactions by label and build a recursive hierarchy. For instance:

• Dubai Trip
  • Bookings
  • Hotel
  • Commute
    • Metro
    • Cab
  • Food
  • Entertainment
    • Photograph
  • Shopping
    • Souvenir

This means that you don’t just see your total spending; you see a detailed breakdown, organized by both broad labels and specific sub-labels. And if you want to dive deeper, you can click on any label to see its total spend.

For example:

• Clicking on “Dubai Trip” will show you the total amount spent across all labels – Bookings, Hotel, Commute, Food, etc.
• Clicking on “Commute” will break it down into subcategories like Metro and Cabs, allowing you to see how much you’ve spent on transportation.

The benefits of using Expenzey

1. Organize your expenses effortlessly: By tagging each transaction with labels like “Dubai Trip,” “Commute,” “Food,” you can easily categorize your expenses without manual calculations.
2. Automatic currency conversion: Expenzey will handle the exchange rates for you. No more headaches converting AED to INR.
3. Stay on budget: With real-time analytics, you can monitor your expenses on the go and make sure you’re not overspending. You’ll always know how much you’ve spent in each category and whether you’re on track to stay within your trip budget.
4. Detailed Insights: The app doesn’t just show the total amount spent. It helps you understand where your money is going, giving you insight into specific areas of your trip, whether it’s transport, food, shopping, or entertainment.
5. Time-Saving: Instead of spending time manually tracking and calculating currency exchanges, Expenzey does it all for you, leaving you more time to enjoy your trip.

Plan your next trip with Expenzey!

Next time you’re planning a trip abroad, whether it’s to Dubai or any other destination, make sure to download Expenzey. It’ll help you track your expenses, keep your finances in check, and save you time so you can focus on what really matters: enjoying your vacation🏖️.