best personal finance apps

Top 10 Best Personal Finance Apps in India for Financial Freedom

Finance

Last Updated on 15/08/2020 by NM Staff

Tracking your daily, weekly or monthly expenses and saving periodically is a very beneficial habit when saving for the future. This enables you to maintain a healthy financial condition and avoid all kinds of unnecessary expenses. But tracking expenses, income, and investments consume a considerable amount of time and also involves the risk of forgetting about some of the expenses.

A lot of people will give you financial advice. However, these things are easier said than done. Today, we shall be discussing some of the best Best Personal Finance Apps in India. So, do not worry because the digital era has brought us all kinds of Personal Finance apps to help you manage your finance way better and reach those savings goals in a more efficient and smoother way! Here are some Personal Finance apps to get you started on your journey to financial freedom.

Top 10 Best Personal Finance Apps in India

1. mTrakr

mTrakr is a pretty useful app that covers all aspects of personal finance from the perspective all the money management of the day to day needs of a common man. The mTraker app manages all your expenses and you do not need to maintain an expense sheet. This app also helps you manage your bank account and is especially useful for those with multiple bank accounts. It displays your bank accounts in a consolidated form and also tracks your expenses into various categories like Food, Travel, Shopping and so on. Any layman can use it to identify their over-spending zones. This money management app will even give you suggestions on how to cut down your daily expenses and has several features like setting budgets, Docs Manager, Event Manager, etc.

2. Walnut is a good Expense tracking app

This is an amazing Money Management App for both Android and iOS. It categorizes your expenses like food, drinks, travel and so on to help you figure out your major source of a daily and monthly expense. It will show your expense patterns and how they change over time. It checks your prepaid wallets and bank accounts’ balance, handles cycles of credit cards, can split your bills amongst friends and can also enable VISA credit card payment via walnut pay.

3. Moneycontrol is good Personal Finance Apps

The Moneycontrol app is the one you need if you trade or invest in Stock Markets or Mutual Funds. It summarizes your Stock Market and Mutual Fund Investments and updates you about the latest prices of these Investments. All you need is to create a Portfolio on the Moneycontrol App and easily track all of your Stock Market Investments with just a click. The app will also advise you on whether you should sell/buy or hold your investments. The app also holds an active forum where people discuss the best investment options, a suitable time to sell/buy your investments and so on. This app has been pretty popular among stock market investors for many years now.

4. 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. This App helps you with this mammoth 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.

5. ETmoney – A Easy Personal Finance App

ET stands for economic times and ETMoney is one of the highest-rated personal finance apps in the country. It does a lot more than any other daily expense manager apps and can turn out to be the only app you need to cover all your expense tracking requirements. The app sorts out your monthly expenses into various categories like Eating, Shopping, ATM Withdrawals, Travels, Entertainment and so on. Tapping on one of the categories will give you a more detailed breakdown of expenses in that category. You also get weekly expenditure reports in the form of graphs. There is a section called ‘Know More’ which provides even more details like your daily expenses on weekdays and weekends with the top categories, accounts, and merchants. This app also proves to be an excellent mutual funds guide. You will have all the market research including fund performance, market trends, etc. at your fingertips and can also invest in funds directly through this app.

6. Goodbudget – Money Management App

This is an app that acts as your personal finance manager. You get to stay on top of your bills by continuously tracking them. It displays your daily and monthly expenses and the categories where you spend the most. It also shows a pie chart and a percentage analysis of your expenses. Goodbudget automatically syncs itself across Android, iPhone, and the web making it easily accessible from any system.

7. FinArt – Expense Tracking App

If you wish to have a quick and easy way to track your expenses with zero additional bills, then this is your take. FinArt shows all your expenses on the first page. The expenses will be sorted into categories and displayed in pie or bar charts. Hence. You will get to know exactly how much money you have spent in different categories. You can also have a look at your total expenses over the past six months. There is an alarm icon that stores all your paid and upcoming bills. You get the opportunity to set an overall monthly budget and restrictions for individual category transactions. There is a section called ‘Account Balance’ where you get to know how much cash you have available in various accounts like PayTM, Amazon Pay and so on.

8. Money View

This is yet another great money management app that enables net balance view and picks your bank balance through SMS or via net banking after verifying an OTP. Besides this, it displays a list of nearby ATMs for quicker and better-managed ATM withdrawals. It provisions investments in various options like mutual funds and other savings account schemes. It also enables tax-saving and reimbursement categorization.

9. Chillr

Chillr is a money management app launched by HDFC India. It has several amazing features like QR scanning, expense tracking and transfer of money. Made with Indian users in mind,it has the provision of mobile banking, enables expense tracking and finances, splits bills with your group, reminds your friend to pay the due amount to you and also creates a transaction summary at the end of every month.

10. Wally – finance management app

This is a finance management app available to both Android and iOS users. It enables you to manage and review all your expenses. You will be able to compare your expenses and your income. Wally has an interesting option of goal setting and keeps reminding you to achieve the same. It also tracks the details of your expenditure: when, why, where and how much you spend. You can also screenshot the record receipts.

Things to consider before downloading Personal Finance Apps?

  1. Always download apps from a valid source like google play store or apple store.
  2. Check First the app you are looking for free or Paid that charges users.
  3. Find a free app or choose one that provides the premium app features at an affordable price.
  4. First, check the app user interface if it is simple then a layman should be able to use the app easily.
  5. The app should have a user-friendly interface and beneficial features with low memory consumption.
  6. The app must not drain your phone’s battery.
  7. It should be reliable and credible without any data leak records.