Once you're signed up, you can text in 'balance' to retrieve your balance, and 'officemax, 42.49' or 'paycheque +10000' to update your budget.
It's still in the really early stages - but I'm looking for feedback and monetization ideas.
However, by far the biggest red flag for me is that there is no About page or any description of what actually happens. Is there a web interface for me to login to after I've got some expenses logged? Or is it purely a phone-driven interface? Some screenshots, or maybe a diagram of the process would be essential here.
Is your target market people without smart phones? I could see this working with them. My biggest worry would be the fact people are lazy when it comes to budgets. I know I am. I like Mint.com because I can spend like normal without manually tracking it and eventually they send me an SMS saying STOP SPENDING MONEY. :)
When I first set out to build it, I had to consider whether to make it something you hook up to your bank accounts, or something you manage yourself - I went the self managed route, because it lets you track things like cash on hand in addition to money in your bank account.
I think this goes right to your addressable market: I'm concerned that you might be creating a cool, useful application for a non-web savvy, non-phone savvy market.
1) It wasn't really clear to me what "initial budget amount" means... monthly? I was expecting to put in my balance I think.
2) I think I was confused about the description too... description of what? My monthy budget? It's my monthly budget! What else is there to describe?
3) It says "Whoops! That password was bad" when I try to log in