What are the best financial planning apps?

financial planning apps?

I remember my early childhood times when my father used to write down every expense made during the day. It would include costs even as small as 0.50 paise for chocolate. I still recall that he used to summon us in the evenings daily to provide an account of whatever we spent during the day. Honestly, I wouldn’t say I liked that, but in hindsight, I realized that he was right. That was one of my earliest financial planning experiences that I diligently follow even today. The only difference is that I have automatic smartphone apps to track and monitor my income and expenses.

So, here are some of the most user-friendly financial planning apps that can make a difference.

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1. Money View – Expense Manager

Money View, available on Android, is an excellent financial planning app that reads your SMS and updates your expenses and income to provide real-time visibility into your financial transactions. In addition, this app makes manual entry redundant because it reads the info from your SMS to update the respective entries. Here are the crucial features of Money View.
  • Get insights into your recent banking transactions.
  • Check your bank balances at a glance.
  • Classify your payments into various categories for easy analysis.
  • Provide a weekly summary to help check overspending and thus, improve your financial planning efficiency.
  • Send personalized billing reminders to ensure you do not miss any payment.
  • Analyze your spending trends and track your financial progress.

2. Monefy – Expense Tracker and Budget Manager

Monefy App tracks your daily purchases, bills, and expenses to analyze your spending patterns. It compares them with your monthly income and manages your budgeting. It is an excellent expense tracker, provided you pay each bill online. However, the app also provides you with options to enter data manually. The key features of the Monefy App are,
  1. Adding new records is not an issue because it allows manual entries.
  2. It backs up and exports the data in a simple, readable format.
  3. It is amongst the most secure apps as it protects your data with passcode protection.
  4. It provides detailed information in a simple Excel chart allowing you to analyze your expenses.
  5. You can save the data in your Google Drive and synchronize it regularly.
  6. It helps you control recurring expenses.
  7. You can create multiple accounts and manage your budget accordingly.
  8. It makes data analysis simple.

3. Wallet – A Multi-purpose App

Wallet is a multi-purpose financial planning app that helps track your expenses and finances, helping you to prepare your financial budget every month. The app syncs your bank accounts and prepares weekly expense reports allowing you to plan your shopping accordingly. It is a personal finance app that comes with all planner features and helps you estimate your finances and budget better. The critical features of Wallet are,
  1. It ensures automatic synchronization of your transactions. Similarly, it categorizes them accordingly for analysis.
  2. The app provides graphical analysis and actionable insights into your various accounts and transactions.
  3. The app manages your bills and tracks the due dates accordingly.
  4. It provides information on your upcoming expenses and indicates how they affect the cash flow.
  5. It allows you to share accounts with your spouse and other family members.
  6. It offers various features like debt management, automatic cloud sync, geo-mapping transactions, shopping lists, etc.

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We have discussed three user-friendly financial apps that help track your income and expenses. So, you get a fair idea of the amounts you save monthly. It helps decide your wants and your needs properly. A careful analysis can help plan your budget by reducing unnecessary spending and thus, helping increase your overall income.

An enhanced net savings level lets you deploy your surplus funds in various investment avenues. One of the most accessible investment avenues is the chit fund. You have reliable chit fund platforms like Money Club that help get the best out of your investments. The most exciting aspect of the Money Club Chit Fund platform is that it encourages you to save more by offering the best returns on your investments. You can synchronize such investments also on these financial apps and prepare your budget to help tide over any financial crisis.

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