Money management is an important life skill that everyone should learn. Fortunately, there are several personal finance apps that can help make managing money and investing easier than ever. These tools can teach you the basics of money management, such as budgeting, saving, and investing.
Personal finance apps can even help people with a good handle on their finances streamline their budgeting and investing. So, a lot of people can benefit from tapping into these resources. Let’s dig into the details and explore some of the top tools for learning the fundamentals of personal finance.
Goodbudget is a budgeting tool that helps people manage their money and stay on top of their expenses. It could be a good fit if you want an affordable money manager and expense tracker — it has a free version, after all. The app helps people create budgets for both long-term and short-term goals, track spending, and pay off debt. As Goodbudget puts it, it’s “envelope budgeting for the modern world.”
The app digitizes the tried-and-true envelope system that helps plan monthly expenses and avoid overspending. The envelope system, also called cash stuffing, divides your monthly expenses into specific envelopes based on spending categories — groceries, entertainment, etc. Once you spend all the money in a given envelope, you don’t spend more money within the category for the rest of the month.
Monefy is an app that helps people identify spending habits and begin saving money. It does this by helping people streamline expense tracking in an understandable way. That way, users can see where their money goes and make changes if needed. Monefy explains itself as a way to “take back control of your money.”
It makes it easy to add new records of your spending. Whenever you spend money — buying a coffee, paying a bill, etc. — add a record of the expense in one click on Monefy. It’s as simple as that! Then you can use the spending distribution chart to compare your personal spending to your monthly income conveniently.
Money View is a money manager app that syncs with financial transaction-related SMS alerts, sends alerts to help keep you on budget, and sends bill payment reminders. One of the most useful features of Money View is its ability to sync with your bank’s SMS alerts because it saves you from manual data entry.
You can also set up budget alerts to help you stay within your spending limits and avoid overspending. Another great feature is the payment reminder function, so you don’t have to worry about forgetting to pay your bills. In short, Money View says you can use its app to “manage your money in a smart and simple way.”
Budgeting isn’t the only personal finance skill everyone should understand. There’s also investing. That’s where Groww comes into the picture. It’s an app that was created with the aim of making it easy for people to invest their money.
You can use Groww to invest in a variety of assets, such as mutual funds, stocks, futures, and options. The app also provides insights that can help you make informed investment decisions. According to Groww, it’s “trusted by 40 million+ users.”
Angel One SpeedPro is one of the most popular investment platforms in India. It’s a desktop platform that enables users to invest in the stock market. Thanks to its user-friendly interface, Angel One SpeedPro is straightforward and easy to use.
According to Angel One, SpeedPro is “an answer to all your trading needs.” For instance, it offers features that allow investors to make informed decisions. These features include real-time stock updates, market analysis, and portfolio tracking.
Upstox is a leading online stock trading platform in India. It offers users a host of features and tools that help them make smart investment decisions. According to Upstox, it’s “investing and trading made simple, affordable and accessible for you.”
The platform supports a variety of investment assets, including stocks, IPOs, mutual funds, futures, and options. So, it’s a helpful resource to consider using. Additionally, Upstox has earned several industry awards and accolades over the years.
The Bottom Line
If you’re looking for better ways to manage your personal finances, then several apps and platforms can help. In India, some of the top options include money management and investment apps like Goodbudget, Monefy, Money View, Groww, Angel One, and Upstox.
These apps and platforms can help you with a variety of things, from staying on budget to the basics of investing. Whether you’re a beginner or already have a decent grasp of personal finances, these valuable tools can help you take your financial knowledge to the next level.