Stop overspending and start saving with these 7 best personal finance apps. These apps will help you to keep track of your earnings and spending.
In today's fast-moving world, when most of our life is spent earning money, we hardly find time to manage our money efficiently.
However, with the advent of personal finance apps, individuals now have a powerful tool at their fingertips to navigate the complexities of their financial lives.
With these apps, one can learn to manage their personal finances and build financial confidence over a period of time
Hence, these personal finance apps have become popular among the masses and has helped people to improve personal financial planning.
Here is a list of the 7 best personal finance apps of 2023 that help us as our money managers:
1. Wallet - Money, Budget, Finance & Expense Tracker App
The Wallet is one of the best personal finance management apps. It helps us better plan our future monetary requirements by placing budgeting, expense control and financial planning in one place.
Here are some of the important features of Wallet:
- Manage bills more efficiently and keep better track of our payment cycles.
- Keep an eye on the upcoming payments for better cash-flow management.
- The app provides simple insights into our finances and spending patterns, including our accounts, credit cards, debit cards, cash, etc., through simple, graphical, actionable overviews.
- Our transactions across various sources are automatically and securely synced, categorized and finally analysed.
- We can share details of any shared account with other account holders for any collective action.
- Multiple currency support, automatic cloud sync, tracking of receipts and warranty, shopping lists, report export in various formats, PIN-based security, standing instructions, notifications, etc., are other features of Wallet.
2. Dhani App - Medicines, Cards, Credit, Payments & Stocks
Dhani App is one of the top financial apps due to its many features and benefits.
Various features like instant personal loans, credit, digital wallet, Dhani Reward Points, and partner programmes make it one of the best personal finance management apps. That’s not all! It also provides online gaming options like ‘Spin the Wheel’ and the ‘Stock Market Game’.
Here are some of the important features of this app:
- Absolutely simple and easy-to-use personal finance app that makes money management easy.
- Collateral-free, instant personal loans, ranging from Rs 1,000,000 to Rs 1,500,000, are available on the app at the tap of a button.
- Shop now, pay later feature: These instant credit lines convert our transactions into easy EMIs at a 0% interest rate. At the click of a button and with nominal processing fees, we can get a digital or plastic Rupay card to use this line of credit that offers extra benefits and cashback on each purchase.
- We can earn rewards for using and referring the Dhani App to our friends. We can also get rewards for mobile recharges, bill payments, travel booking, etc.
3. Walnut - All Indian banks' money manager app
Walnut is a money manager app that automates and analyses all our spending and savings. We can stay disciplined with our budget and bills, track our expenses and save money with the Walnut App.
Here are the features of this app:
- It uses UPI for transactions.
- It helps check and keep track of our bank balances.
- Under the ‘Walnut Prime’ benefit, we may get an instant line of credit.
- We can track railway reservations, movie tickets and hotel bookings.
- We may get instant personal loans at 14% to 22% annual interest rates.
4. Monefy - Budget manager and expense tracker app
An easy-to-use and intuitive user interface makes Monefy one of the best money management apps. It tracks our expenses and compares them to monthly income and budget planner.
Here are the key features of this app:
- It helps us maintain a record of our personal financial data.
- It uses a budget tracker to manage our money efficiently.
- It offers informative graphs for a better understanding and analysis of our expenses.
- Its easy-to-use widgets help us access our spending tracker.
- It helps manage our recurring payments.
- It also maintains multiple currencies.
5. mTrakr – Money manager app
mTrakr is a very versatile and comprehensive money manager that covers all aspects of our personal finance management.
Let’s check out the key features of this app:
- The expense tracker tracks all our expenses and saves us from maintaining a manual record.
- It analyses our expenses and helps us identify the areas where we are overspending.
- It helps us operate multiple bank accounts on a single app.
- It categorizes our expenses to help us analyse them better.
- An intelligent feature of this app provides suggestions on how overspends can be reduced.
6. Money View – Expense manager app
Money View makes excellent use of the financial data hidden in our SMS logs and manages our personal finance based on it.
Here are the key features of this app:
- It does not just monitor our expenses; it also suggests relevant saving opportunities.
- It helps us efficiently plan our monthly budgets by providing periodic summaries, thus, helping us curb overspending.
- It also helps us keep our credit score in check by sending personalized bill payment reminders.
- It instantly checks our recent bank transactions.
- It checks our SMS data and updates our financial reports based on the same.
- It also tracks our finance management by checking and analyzing expense reports over time.
7. GoodBudget- Budget and finance app
GoodBudget is an excellent app for personal finance management. The GoodBudget App is based on the age-old, tried, and tested methodology of the envelope system for finance management.
Here are some key features of this app:
- The app automatically backs up and securely stores our data on the GoodBudget server.
- It gives consistent and timely reminders about our bill payments to help us keep credits on track.
- It helps save time with category suggestions and smart payee features.
- It helps to transfer funds between accounts and envelopes for better personal finance management.
- It enforces spending discipline by only allowing us to spend what we have in the envelope. Rather than overspending, it helps plan our expenses well in advance and then carry over the leftover to the next month as a reward for your discipline.
- It helps sync and share household budgets and spending across family members so that each one takes accountability for the savings and expenses.
The above-mentioned personal finance apps can help us save money by better analyzing and managing our finances. We must research well before selecting an app that suits our personal financial goals and ambitions.