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Top  7 Apps which are not just going to help you with Personal Finance but also Hand-hold your way through it

Top 7 Apps which are not just going to help you with Personal Finance but also Hand-hold your way through it

Let me begin this article by asking you a very serious question. Do you love “Money”?…

Well of course you do. Why wouldn’t you love it? In fact you love it so much that you spend your whole life chasing after it. You get a sense of high once you get it. Tell me I am wrong. 

That high you so suddenly get, comes out of power. Now you’re wondering, “What power”?

Well the answer to that is, Power to get anything, do anything and especially be anything. 

So if you really want this power in the palm of your hand, why not take a step towards learning to get it and then control it. Today I am going to help you out by informing you about some new age apps that you probably don’t know about but should. These apps can really help you up your financial management game and not just that they also teach you and make you take necessary actions along the way to have good financial discipline. 

In this digital age you really don’t have to worry about relying on ‘Financial Advisors’ anymore. There are enough apps and other digital products out there that are not just going to teach you about personal finance but are also going to hand-hold your way through it. But before getting into what are the names of these apps, let me first answer another question as to what a personal finance app really is and what it accomplishes for you. 

What are personal finance apps?

Ans: A Personal Finance app is a software application that helps you inculcate a habit of saving, then makes you form a budget for yourself, stick to that budget, track your expenses and investments in a seamless and less time consuming manner, teach you a little or a lot about investing and your options in the array, defending upon the main objective of the app. In the meantime it also makes you adhere to a strict schedule to handle your payments and other bills in a way that you don’t have to worry about missing a particular date or something. As I said this is an age of technology where new concepts like, AI, Blockchain etc, are paving the way for an even greater future. So, hang on tight and enjoy the journey. 

Money Control

Money Control was acquired by E-18.com, a subsidiary of the Indian TV channel TV18 from the husband and wife founders Victor and Sangeeta Fernandes in the year 2000. Reliance Industries then went on to acquire Network 18 and TV18 in 2104, which included Money Control. 

  • The app’s USP is it’s wide array of services on a single platform with a very seamless user – interface. 
  • This app offers the latest data about market apart from providing business and market news
  • For an individual who invests into the stock market, mutual funds, and other financial market instruments this app helps to guide them in a very efficient and clear manner. You will get all the necessary updates and other news articles who would be required to catch up to get an even wider idea of the business world.
  • An investor has to create a portfolio on the app and they can easily keep a track on all the stock market investments with just one click.
  • There is also a Live-TV with audio only option for people who like to catch up on updates like on the various news channels. There is a separate option for Video on Demand.
  • The app also advises individuals on potential investment options like what to buy/invest in, when to sell etc. 
  • You can get this app on Windows, iOS, and Android.

IndMoney

  • They launched their Apps in April 2019 with an aim to enable consumers to track, save and grow their money. 
  • IND SuperMoneyApp automatically organises a user’s money and recommends actions to increase savings and earnings across investments, loans, expenses and taxes. 
  • Their private wealth management offering, INDwealth delivers premium services such as private family office, analysts, tax services, succession planning and trust services. 
  • IndMoney also lets you track all your investments, expenses, financial planning, growth planning and much more at one place. 
  • They also have an option to attend to invest in the US Stock Markets as well as crypto currencies directly from their app. 
  • Not only this they have a reward program called IndCoins, which is a form of reward points which again can be used to invest in Stocks and cryptos.  
  • They also allow you to track your credit score and send you regular recommendations on various investing opportunities through your mail.
  • You can get this app on Windows, iOS, and Android.

Money View

  • Another great app for money management. 
  • It collects your details about your bank balances, expenses you’ve made through your bank, analyses them and then categorizes them into various fields like, entertainment, food, luxury etc., so that you get a clear idea as to where are you making most of your expenses
  • Apart from them it even has a great interface in order to help you manage your day to day expenses. It again tracks them daily and creates a monthly report for you to go over. 
  • The app even lets you create your own budget and even makes you take necessary actions in order for you to stick to it.
  • But the best feature by far is that it let’s you borrow hassle free micro personal loans and customises the entire thing better suited to your needs.  
  • It Facilitates it’s users to save more money through its products: Savings+ and TaxSaver+.
  • Savings+ helps users by guiding them to invest their idle money lying in their sayings accounts into prospective instruments and products to earn some money over it over a specified period of time.
  • TaxSaver+ is a product with an added bonus for those people who are already investors and want to put their money into potential investment plans where they can also save on their tax liability.
  • You can even split your bills with your friends either before or after incurring an expenditure. 
  • You can get this app on iOS and Android.

ET Money

ETmoney which is a part of The Times Group and the word ET stands for economic times. This particular app does a lot more than managing the mere daily expenses of the individuals.

  • The ET Money app helps it’s users to spend and analyse their daily expenses through categories like, ATM withdrawals, Entertainment, Food and Beverage, MIscellaneous etc. 
  • A user can simply tap on one category and get a whole analysis as to how much money has been spent till date on that respective category. What were some of the major expenses and were made on which date etc. Information like these helps you analyze your spending habits in a more detailed manner and even adapt and make necessary changes accordingly. 
  • One can even get their weekly, monthly and quarterly spending reports in a visually appealing manner like graphs and other infographics. This will help you understand the data in a more comprehensive manner. It’s like  getting your own customised budget report and helping points.
  • The app turns out to be a good guide for mutual funds as an investor can get to know about the market research including current market trends, the performance of a fund and so on just at their fingertips.
  • The best thing about this app is one can invest directly in funds using this app.
  • Then there is market updates and relevant news information about the economy, global politics and fiscal policies etc. 

Tax Calculator

Once, understanding Income Tax was one of the hardest things in the world. But with the introduction of smartphones, that is no longer a problem. The taxation system has become more complicated with time and it is harder than ever for a common man to compute their taxes. Also if you’re a millennial or a person of the gen-z generation who is not a CA, you know you have ached your head trying to understand all the compliances and ins and outs of the system for your tax filing. 

  • This App helps you with this herculean task and computes your taxes with just a click. It helps you plan your taxes better and boasts a friendly user interface anybody can easily use.
  • This proYou can choose your preferred language between English and Hindi too.
  • This app makes tax computation easy and fun and has also made efficient tax calculation and planning possible for FREE!!! 
  • When most of the taxpayers find tax computation and tax planning very complex, My Tax India enables assessees to do these with it’s simple and powerful interface. 
  • Union budget 2020 has put forth two tax regimes to choose from, and with MyTax India, be it the new regime or the old, it’s just a walk in the park to foresee the tax liability and make better use of tax saving instruments. 
  • With My TaxIndia advanced user interface and tools, tax payers understand the Income Tax calculation and Tax saving opportunities so as to choose the best suited from the old and the new tax regimes.

Cred

 This Kunal Shah founded startup just recently made into the Unicorn Club of India, i.e. it crossed a 2.2 Billion dollar valuation. 

  • Cred’s mission statement is absolutely simple. Every time you pay your credit card bills on CRED, you receive CRED coins. You can use these to win exclusive rewards or get special access to curated products and experiences. On CRED, good begets good. 
  •  You can pay all of your credit card bills on Cred. You simply have to attach your Credit Card, choose a payment option, and make the payment. Why Cred?, you ask. Because it provides you a very sophisticated way to pay your bills and then rewards you in return for paying them on time. Some people have won humongous rewards like a Mercedes car. I am not even kidding.
  • You get regular reminders and payment updates directly on your messaging app and even Whatsapp now.

Basis

Last but not the least comes Basis. I kept the best for the last. Aiming to make fundamental changes and educate women about finances, 32-year-old Hena Mehta launched Basis in 2018. 

  • Basis provides an app – that offers basic knowledge about money management and customised financial advice. The platform is powered by “highly targeted content” and encourages community engagement. Basis is currently angel-funded and is pre-revenue.
  • Basis targets working women in Tier 1 and Tier 2 cities who are independent in thinking, but lack complete financial independence. These women are either salaried, freelancers, or entrepreneurs. The app covers various topics across financial education, and life situations that impact finances in a simple and friendly manner.
  • This app is trying to actively bridge the gap between the highly competitive market for financial products for women and men. 
  • Basis, although made specifically to empower women in the financial management field, also caters to a wide variety of other audiences. 
  • It lets you choose from a wide array of lessons and also lets you teach and contribute to the community in a very efficient manner. 

This is it for this article. I hope you found some value in this piece of content, if not a lot. This is your author Pranav Agarwal hoping to bring another piece of exciting and value-added content really soon. Thank you.  

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