Consumers often give up soon after trying to track their expenses. Spenz turns the rather mundane chore into a fun and rewarding game by implementing game mechanics.

Experts have always said that tracking expenses is the first step to getting your finances under control. It allows consumers to identify cash flow leaks that can be plugged to increase savings.

The troubling notion that expense tracking will yield overnight is major reason that so many people give up on it. Spenz introduces game mechanics into expense tracking that will hopefully provide an incentive to keep diligent expense records.

Currently, Spenz allows access to users through their website ( or through a native iPhone application. Users can enter an expense along with the “#” tag to designate a purchase category while the “@” tag designates a merchant location.

Spending habits can be reviewed by examining the expenditure under a certain tag. Users can create a budget to manage spending across multiple tags. Additionally, Spenz will compare your spending to the spending of others.

After each expense entered, users will earn XP points, unlock achievements, and climb a ranking system – the highest rank attainable is “Uber Spenzinator”.

Achievements include “Drunk Spenzing”, which can be earned by recording 15 expenses between 2 A.M. and 5 A.M., and “Coffee addict”, which can be earned by making 15 purchases under the #coffee tag in 15 days.

Users will begin to earn Spenz tokens that could be used to redeem rewards that may include discounts and coupons. Currently, Spenz is working on securing partners to offer rewards.

Setting up a Spenz account requires very little information and it isn’t connected to any of the user’s financial accounts.

Currently, there are two major concerns regarding the Spenz approach to expense tracking. Because there is no verification process needed, users can enter false expenses to exploit the entire ranking and rewards system. Also, the deployment of game mechanics may backfire and actual encourage spending to earn achievements and grow in rank.

It is worth giving Spenz a try if keeping proper expense records have been a test of willpower in the past.

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