If you struggle to keep track of your expenses and are concerned about where all of your money has gone at the end of each month, try these five best must-have money management apps. These applications will assist you in easily monitoring your expenditures and income and keeping a close eye on the money spent each month.
In this age of ever-increasing expenses, it is not only necessary for us to keep records of all incomes and expenditures, but also to stay on top of all assets that will aid in better personal finance management. However, due to time constraints, we all struggle with expense and money management. This is where your mobile phone can really help you manage your money better. There are numerous money management apps that can effectively monitor and guide you in better money management for all of your income and expenses, as well as your savings and investments.
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Why Should You Use Money Management Apps?
These budgeting and money management apps can assist you in identifying areas where you can cut costs. The main reason it is so difficult to save money is that we are unable to monitor and, ultimately, control our expenses in a prudent and simple manner. Many people use these money management apps to manage their finances and find them very useful.
Money management apps can help you stay on top of your finances by providing a snapshot of your overall spending, income, and debt, allowing you to make informed decisions about where to put your money and how to get your finances back on track. Furthermore, many money management apps include features such as bill pay and budgeting tools, which can help you manage your money on a daily basis.
Tracking your expenses and creating a weekly or monthly budget is always a good money management idea to maintain a proper balance between your earnings and spending. Money tracking is useful for staying in good financial shape and avoiding unnecessary expenditures. However, manually tracking every single penny takes time and effort. We also occasionally overlook some of the expenditures. There is no need to be concerned if you are dealing with a similar monthly budget management issue.
5 Best Money Management Apps in India
In India, there are numerous money-saving apps that can assist you in successfully tracking your monthly expenses. There are also some best daily expense manager apps in India.
Some of the best expense manager apps in India will help you track your monthly expenses such as food orders, cab bookings, mobile recharges, and so on. So here is a list of the best money management apps in India.
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Monefy-Budget Manager and Expense Tracker App:
Monefy is an easy-to-use financial organiser and tracker. When you buy a coffee, pay a bill, or make a regular purchase, you only need to enter each expense and the app does the rest! When a user makes a purchase, he or she only needs to add a new record. Because adding a record takes only one click, you don’t need to enter any other information besides the amount spent.
Monefy is more than just a money tracker app! It is one of the best money saving apps for assisting users with better money management. It keeps track of the user’s personal expenses and compares them to the monthly income as well as the budget planner. Monefy money manager app keeps your monthly budget in top shape. As a result, it may also serve as the best expense tracker app.
1) The intuitive and simple-to-use interface allows you to quickly add new records.
2) Track in multiple currencies
3) Backup and export personal finance data with a single click.
4) Use passcode protection to keep your information safe.
5) Manage custom or default categories
6) View your spending distribution on an easy-to-read chart, or get detailed information from the records list.
7) Budget tracker can help you save money.
8) Synchronize safely with your own Google Drive or Dropbox account.
9) Take charge of recurring payments
10) Useful widgets make it simple to access your spending tracker.
11) Use multiple accounts
12) Use the built-in calculator to crunch numbers
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Goodbudget-Budget & Finance App:
Goodbudget is a money manager and expense tracker app designed for personal budgeting. The Goodbudget money management app is based on the envelope system. This app is a proactive budget planner that assists you in staying on top of your budget, bills, and finances. The app was designed for easy, real-time tracking of your budget and finances, making it one of the best expense tracker apps in India. Goodbudget is one of the best free money management apps.
1) Data is automatically and securely backed up to Goodbudget’s website.
2) Separate expense transactions
3) Scheduled transactions and envelope fills
4) Save time with smart payee and category suggestions.
5) Easily transfer funds between Envelopes and Accounts
6) Select a budget period that corresponds to reality.
7) Examine spending with the Spending by Envelope Report.
8) Use the Income vs. Spending Report to track cash flow.
9) Download transactions to CSV
10) Clear/reconcile transactions
11) Carry over any unused funds to the next month to reward your incredible self-control.
12) Plan your finances ahead of time to stay on track with your budget.
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Walnut-Money Manager App & Instant Personal Loan App:
Walnut is once again one of the best money manager apps available today. It assists you in automatically and securely tracking your monthly expenses. By using the Walnut app, you can stick to your budget, pay your bills on time, and save more money each month. The Walnut money manager app can help you figure out how much you spend on food, shopping, groceries, and so on, as well as how much you save month after month. It analyses your phone’s SMS inbox and tracks important information such as expenses, bills, and even travel bookings.
In addition, eligible users are offered personal loans as well as the ‘Walnut Prime’ benefit, which is an instant line of credit for your shopping, bill paying, and other needs. This money manager app also provides instant personal loans with interest rates starting at 14% and rising to 22% per annum for personal loans with terms ranging from 12 to 36 months.
1) Keep track of credit card payments
2) Split expenses with friends
3) Transfer money using BHIM UPI – direct bank-to-bank money transfer
4) Locate ATMs with cash near you in real time.
5) All expenses at a glance – Bank Accounts, Credit Cards, Digital Wallets etc.
6) Export your data and create expense reports (in PDF & CSV format)
7) Examine Bank Balances
8) 50+ Indian banks and cards are supported.
9) Keep track of train, taxi, movie, and event reservations, among other things.
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Wallet-Personal Finance & Expense Tracker App:
Wallet is another market-leading personal finance manager app designed to assist you in better money management. The Wallet assists you in planning for future money management by centralising all of your personal finance requirements.
With Wallet, you can automatically track your daily expenses by syncing your bank account, view weekly expense reports, plan your shopping expenses, and share specific features with your loved ones. It is one of the best Android money manager apps in India. A wallet allows you to manage your money from anywhere and at any time. It allows you to easily control your expenses and save more money with the finance tracker.
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1) Transactions are automatically and securely synced, then intelligently categorised and factored into your budget.
2) From paying off debt to purchasing a car or saving for retirement, this money manager app provides the flexibility to meet your financial goals while intelligently reacting to any changing financial circumstances.
3) Simple graphs and financial overviews provide actionable insights into the state of your finances across accounts, credit and debit cards, debts, and cash.
4) Organize your bills and keep track of their due dates. Examine upcoming payments and how they will affect your cash flow.
5) Other features include multiple currency support, automatic cloud sync, receipt and warranty tracking, categories and templates, geo-mapping transactions, hash-tagging, shopping lists, exports to CSV/XLS/PDF, debt management, PIN security, standing orders, notifications, reports, and more.
6) You can also learn about different budgeting methods and how other finance experts have managed their expenses and made the most of their money.
Expense Manager App
If you’re looking for an expense and budgeting tool, Expense Manager can be extremely beneficial. Expense Manager is a simple, intuitive, stable, and feature-rich money management app designed for users looking for a better personal finance app. If you search for expense manager app India 2020, you will undoubtedly find expense manager at the top of the list.
When you use the expense manager app, everything you need is at your fingertips, from tracking your expenses to managing your budgets. As a result, the expense manager app is included in the list of the best money management apps in India.
1) Organizing bills by week, month, and year, as well as by category
2) Daily, weekly, monthly, and yearly budgets with progress bars
3) Payment reminders
4) Calendar budget forecasting
5) Search by category, subcategory, payee/payer, payment method, status, description, tag, and so on.
6) Automatic backup to Dropbox, Google Drive, and SD Card
7) Add multiple expense or income records
8) The app includes a currency converter, a regular calculator, a tip calculator, a loan calculator, a credit card payoff calculator, an interest calculator, a note, and a shopping list.
9) PIN protection
10) No registration or internet access is required.
11) Split Transaction – Record all items in a single transaction with different categories and amounts.
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Chit Funds is also another saving option. They are actually an instrument of regular monthly savings with the added advantage that you can withdraw the entire investment when you need money urgently, any time during the investment tenure. No penalties, no hassles. Invest in a chit scheme which has a 2-3 year tenure. Choose the appropriate prize amount based on the monthly payable installment that fits your budget and matches your financial goals.
Select an online, digital, registered Chit fund platform like The Money Club that has a long standing reputation and you can expect to gain about 12%-15% p.a. return on your investment with absolutely no risk.