The best financial apps which help you save money and time!

The best financial apps which help you save money and time!

India is one of the biggest markets for mobile as well as app companies. With over 281 million people using mobile internet every day (as per 2017 data), the world’s youngest country is a hot market for tech companies. The country has recently been named as the world’s fastest market in terms of maximum mobile app downloads on popular mobile operating systems, Apple iOS and Google Android Play Store, according to App Annie, an online mobile app data market company.

Money Management Apps act as your Personal Finance Manager and help you identify areas wherein your expenses can be reduced and also advice you on best investment options which will yield the maximum returns. Many people have used these Apps and found them really useful in managing their money.

• Money management apps – Mtrakr , Walnut , Goodbudget , EZ Financial Calculators , Monefy, Expense manager  , ETMOney Expense Manager , Qykly
• Stock markets investments – ET Markets , MOneyControl , NSE app , HDFC Securities, appuonline
• Tax calculators – ThinkTax , MyTaxIndia, TaxGuide,IncomeTax Calculator-Symbian
• Bill Split Apps – Splitwise,  SettleUp , Plates, Tab, Splid , Zently
• Wallet or eMoney Apps – Google Pay, PhonePe,Freecharge, Amazon Pay, Yono by SBI, PayTM, BHIM AxisPay , HDFC Payzapp, ICICI Pockets
• Banking Apps –  Mobile Banking apps of apna bank 

Wallet watcher apps –

These are absolute essentials when you are too busy to keep track of you income and expenses.  A due diligence process which most millennial’s often leave unaddressed. Which is now easy with an app .. Interestingly these apps get information based on alerts and messages on your phone , even ATM withdrawals are tracked.

The Walnut money management app keeps track of your monthly ATM withdrawals. It also analyses your SMS inbox on phone and detects important information related to spends, bills, and tickets.

Splitwise is the most versatile of all the bill-splitting apps on our list and fits most situations where you need to split costs between multiple people. You can create groups with various friends and divide up what each person owes. All your shared expenses and IOUs are organized in one place and everyone in the group can see the amount they owe. Plates by Splitwise lets you handle both. The iOS-only app gives everyone in the group a “plate.” Then as you add items to the group, they can be placed on a specific person’s plate or split up among the entire group. For example, shared items like appetizers would be split among the entire group or just a few people in the group.

A Virtual Wallet!

Wallets are growing rapidly as they help in increasing the speed of transaction, especially for ecommerce companies and all ecommerce marketplaces have integrated with such mobile wallets too.

With Google Pay you can send money to friends, pay bills and buy online, recharge your phone. Since Google Pay works with your existing bank account, which means your money is safe with your bank. There’s no need to worry about reloading wallets and you don’t need to do additional KYC – which is required for all the other apps.

PhonePe has got a very good user interface and is one of the safest and fastest online payment experience in India.

Yolo is semi-closed prepaid wallet offers its services in 13 languages and is available for non-SBI customers as well. This app also allows its customers to set reminders for dues, money transfers and view the mini-statement for the transactions carried out.

Banking Apps-

Banking apps are a real time saver when you are always on the go . Most transactions can be completed online without visiting your bank branch. While commuting or having a meal or playing with your kids.. There is no fear of forgetting documents or signature mismatches just remember the Ipin for logging in.

Since these are secured by sending IPIN and OTP there are slim chances of misuse or hacking.  With HDFC MobileBanking App one can access over 60 transactions anywhere, anytime. HDFC is the 1st bank to offer the My Menu feature where you can customize your Menu with 10 of your favorite transactions with this feature.

With iMobile One can check balances or last 5 transactions, transfer funds, pay bills, open a fixed and recurring deposit and much more.

When it comes to money its best to manage it with discipline, which is what these apps help you to do. Embrace these apps and let it work for you…

Or like in Monefy,  you have to just add new transactions when you are buying anything or taking a cab or spending on food. It is very simple to input data in this app as you just need to enter expense amount. You can safely synchronize data between your mobile, tablet or laptop using your own Dropbox account. You can track your spending distribution with the help of chart or graph.

Expense Manager app can manage the expenditures, checkbook, and budgets and can track expenses and incomes. No need to enter data manually, you can enter data by just taking a picture of receipts.

Mtrakr automatically classifies all your expenses into various categories like entertainment, food, travel bills, bank transfer etc a feature which is currently not available in walnut where you manually need to categorize the bills.

Stocks galore-

MOneycontrol app will land you on Live and real time Sensex and nifty point’s updates and scrolling down you will find the top gainers, top losers, top movers of the day.

Thought it may not sport a lots of bells and whistles, but with the unique feature of trading via the app and the fact that the app is published by NSE, it should receive future upgrades and improvisations.  HDFC app will help you track stock market and will also empower you to trade stocks from the app itself. A pretty straight forward app with necessary features like graphs, charts, Market stats, search function, News, My portfolio, Analyst corner, F&O, Derivatives.

Tax Calculator- For those who are confused about their tax liability here are a few apps that are simple, and yet offer complete details about tax liability and how you can reduce it. All of these apps are free. You can key in the details, like break-up of your salary, your savings, and investments, and the app will tell you how much tax you need to pay.

Users can compute tax on total income for the financial year 2011-12, tax deduction at source, house rent allowance exemption, rent free accommodation perquisite, exemption in case of gratuity receipt, leave salary exempt amount etc.

Taxworry.com is a unique app where readers can ask, read and discover everything about income tax laws in India, be it property, income, capital gains or share or speculation business tax.

Bill Split - splitting the cost of bills and expenses was a clumsy process. You had to calculate who owed what, then go through the tedious task of collecting money from each person. And since fewer people are carrying cash less often these days, settling up gets even more difficult. That is, until bill-splitting apps. With bill-splitting apps, you’ll be able to keep the peace between friends by cutting down on squabbles about who owes what to whom.

Splitwise is the most versatile of all the bill-splitting apps on our list and fits most situations where you need to split costs between multiple people. You can create groups with various friends and divide up what each person owes. All your shared expenses and IOUs are organized in one place and everyone in the group can see the amount they owe. Plates by Splitwise lets you handle both. The iOS-only app gives everyone in the group a “plate.” Then as you add items to the group, they can be placed on a specific person’s plate or split up among the entire group. For example, shared items like appetizers would be split among the entire group or just a few people in the group.

Sneha Ramamurthy

Dilzer Consultants Pvt Ltd

Credits …

https://www.goodreturns.in/personal-finance/planning/2015/03/5-best-mobile-banking-apps-that-could-offer-convenient-bankin-341701.htmlhttps://www.themobileindian.com/top-5/top-5-apps-for-tax-calculation-4144https://scrollstory.com/apps/indian-stock-market-android-apps/2367/https://www.thebalance.com/best-bill-splitting-apps-4170968https://techlomedia.in/top-apps/best-money-management-apps-for-android-and-ios/