We make money-related decisions every day. Most of us know how to work out numbers on a piece of paper, but how many of us can practically make meaningful financial decisions? You must have heard of budgets being prepared, but have you ever prepared one for yourself? You must track your expenses and make a plan to help you save and spend in the right proportion.
With jobs taking place in the center of our lives, taking on the extra work of handling personal finance is indeed tricky. The future is tech, and the solution to this problem also lies in technology. Many individual finance apps are available nowadays that are so simple to use that you won’t even need to consult a finance expert. Let’s learn about these personal finance apps.
1. Walnut
Walnut is a complete money management app that lets you keep track of your transactions with ease. It will track expenses made through cards, internet or net banking, ATMs, and mobile wallets. Walnut tracks expenses for you and provides constant bill reminders. Graphs are used for added convenience. You can also enter payments made in cash to get a holistic picture.
Walnut captures data from SMS and categorizes expenses depending upon its nature. You can even set an expense budget for yourself on the app.
One handy feature of this app is that you can manage shared expenses with friends/ family and make the net settlement through the app itself.
2. Wallet
Budget Bakers has partnered with over 4000 banks worldwide to make ‘banking under one roof’ a reality. The wallet lets you connect your bank accounts to its app. You can also link your debit and credit cards and other payment systems that you use.
Wallet not only lets you view your financial transactions all at once, but it also analyses the data for you and provides meaningful results. When you link your debit and credit cards, Wallet will fetch your data and break down the expenses into different categories using a machine learning algorithm. Using easy-to-understand graphics compares your monthly costs and lets you know what you have been overspending on. This personal finance app lets you create a budget and share it with your loved ones to encourage systematic and planned spending. Staying in control of your finances couldn’t have been easier!
3. ET Money
ET Money is one of the most sophisticated personal finance apps out there in the market. Its advanced technology lets you choose from several mutual funds schemes. You don’t have to pay extra charges to ET Money for the services they provide. You can invest in mutual funds, fixed deposits, insurance, or pension schemes directly through this app. You can track your bills and expenses and save on tax easily! The app will calculate your credit score for free, and you will have access to it 24/7. You can also make an application for a loan directly through the app.
4. Groww
Headquartered in Bangalore, Groww was founded in 2016 by ex-Flipkart employees. Groww is a great app to invest in Mutual Funds. It categorizes schemes based on the needs of the investors – high return investments, tax-saving investments, investments that are better than FD and SIP with Rs.500, to name a few. You can also invest in stocks and gold directly through the app. The app gets updated on a real-time basis to provide live market updates. With Groww, you can apply for IPOs at the click of a button.
5. Paytm Money
Paytm Money makes stock investments very easy. It provides you with an option to set price alerts, view your stock statements, and also calculate brokerage on the go.
Now track all the market indices with absolute comfort! You don’t need to go to different websites to set alerts anymore because Paytm Money provides you with all the features that you need for a smooth trading experience.
6. Goodbudget
This app could be your go-to app for daily personal finance needs. You can enter the expenses you incur on food, travel, education, or practically everything, and the app will maintain a record for you. It will give you consistent and timely bill reminders and also analyze your spending behavior.
This way, you will know where your expenses are being concentrated the most and if you are exceeding the set budget. Next time, don’t get surprised when a cost suddenly shows up.
7. CRED
CRED encourages credit card bill settlement by rewarding users with exciting gifts and offers each time a payment is made. You can add all the credit cards that you use to this one app and be reminded to make payments on time. You don’t need to worry about different billing cycles because CRED has got you covered. You earn reward points on making payments, and each reward point equals one rupee. You can redeem these points for luxurious items, and this makes paying bills all the more fun! You can pay your monthly rent through CRED Rent Pay directly from the app. Using CRED Cash, you can get a seamless, hassle-free active credit line of up to Rs.5,00,000. Lastly, CRED Travel Store has made ‘buy now, travel later’ a reality.
8. Monefy
Monefy, a finance organizer and money tracker lets you monitor receipts and payments in multiple currencies. This app is completely secure and offers high-tech password protection. Its built-in calculator ensures that you never go wrong with calculations that are so important to you! Back up and export your data anytime.
9. Money Manager
Money managers make handling expenses enjoyable. You enter the expenses manually and upload receipt photos for the record when you chose to pay a nominal amount to get access to added features like unlimited accounts and controlling your accounts from a PC. If you don’t want to let third-party money management apps access your financial transactions, then Money Manager would be an excellent app for you.
10. You need a budget
Yes, you do! This app encourages savings for meeting urgent needs. It lays down three crucial principles –
- Ensure you give every dollar a purpose
- Embrace your expenses, and
- Roll with the punches!
In India, you can download the app on the play store and manually enter your transaction details. This app is recommended for those who are serious about their finances and want to dig deeper.
Choose the app that suits your needs and make better money decisions. Gain total control of your finances today!
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This post was written in collaboration with Asif Yahiya Sukri LLP. Asif Yahiya Sukri LLP provides unparalleled personalized financial services to a broad range of clients across different geographical locations. With a presence in the USA, India and the MENA region, they ensure that all of your financial decisions are made carefully and with your best interests in mind. They are innovators who understand what goes into building companies.
You can also reach out to them on info@aysasia.com
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Resources
- https://goodbudget.com/
- https://cred.club/?utm_source=google&utm_campaign=PFX_Brand_Exact&utm_adgroup=Brand_Basic&utm_medium=cpc&utm_term=cred%20app&gclid=CjwKCAjwo4mIBhBsEiwAKgzXODADnwh8a8VzaYVhxhkCwmBABAzLbl0tiz64rAwbpNOatoxqVQ8GuxoCdloQAvD_BwE
- https://www.rupeetip.com/cred-app-review/
- https://timesofindia.indiatimes.com/spotlight/great-for-the-good-heres-everything-you-can-do-with-cred/articleshow/82209403.cms
Would have been good to include app screenshots from both iOS & Android app stores since I could not find walnut on iOS. I did see WalnutPay but not sure if its the same. Good article tho.
Also one more feedback, you should always have the hyperlinks under resources to open in a new tab. This way, people will stay on your site. When the link opens in the same window, you lose out on user stickiness 🙂
Hey Adam!
Thanks a lot for your feedback!
I’ll take your suggestions into consideration while writing the next article.
As per Walnut’s official site, for Iphone users the app goes by the name of Walnut Pay. However, Walnut Pay does not support expense tracking.
Hope that helps.