5 Great Personal Finance Management Apps that everyone should check

Finance Management

5 Great Personal Finance Management Apps that everyone should check

Most people do not realize the importance of managing personal finances until they are at a point where there is nothing they can do except regret. Personal financial management is necessary for every individual who is earning despite their age and level of income because it enables us to manage our money in such a way that we are able to meet our short-term goals while saving it for our long-term goals and securing our future.

It is the lack of knowledge about finances that makes the task of planning out a budget and managing personal finances so daunting that we choose not to do it. But just like technology is making other aspects of our life smoother, it is also making this task incredibly easy for us.

I have mentioned some of the trustworthy apps that are widely used by people all over the globe to manage their money.

1) Walnut

Walnut is a great app that helps you to manage your personal finances in a very easy way. This app tracks the monthly transactions that you have made through your cards or mobile wallets and gives you an understanding of where you have majorly spent your money so that you can avoid overspending in the future.

There is also the feature to add the payments that you have made in cash so that you get a clear picture of your overall spending. It helps you to stick to your budget and also reminds you to pay the pending bills.

It enables you to export the information and create expense reports. It provides instant personal loans as well. One feature that sets this app apart is that it enables you to manage shared expenses with friends or family.

2) Good Budget

Good budget is one of the popular personal finance management apps that offer two versions. There is a free version and a paid version.

It uses the envelope system to give you details about how much money is allocated to each expense and how much money is saved. It helps you to understand your spending habits with the help of simple graphs.

It also provides podcasts and courses to aid you in understanding finances better. Its distinguishing feature is that you can chat with the users of the app and even the staff to get clarity of any queries that you may have.

3) Wallet

The wallet is a brilliant app that allows you to connect all your bank accounts to it and make your financial transactions from one place. It analyses your transactions, categorizes them, and shows you the results as well.

This app helps you to save money by putting a check on your overspending habits. Moreover, it enables you to curate a budget plan and share it with your friends and family to motivate them to start managing their finances.

4) Money View: Expense Manager App

Money View is one of the popular personal finance apps that tracks your expenses automatically and organizes them. It provides the users weekly and monthly summaries of their expenses so that you get a clear understanding of where you are spending your money. Manual entry of data is not required as it makes use of transaction-related SMS

5) ET Money

ET Money provides you the services to explore the various plans of mutual funds and invest in them and other insurances, fixed deposits, and pension schemes. You can completely trust this app.

There is also a section of blogs that aim to educate the users about investing in mutual funds. Go ahead and explore this app to understand the different services that it provides.

Final Thoughts

Before going for a personal finance management app, you should check certain important aspects. The first and the most significant is security. Because the app will make use of very sensitive data, it should be highly secure. 256-bit encryption and multi-factor authentication should be present.

Secondly, check the app that offers the maximum number of quality features even if it is not free. Personal finances should be something that you should be ready to invest in. So make sure that you do not overlook the paid versions or apps.

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Author- Adesh Chaurasia

He is an active learner, author and speaker when it comes to the subject of national development through scientific and relational ways. He presents his knowledge about his line of work in such a simple yet engrossing manner that it reaches out to the people so as to enhance their knowledge and put it to good use.

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