The 21st century has revolutionized the way we handle our finances. With continuing focus to cut costs and maximize our savings it's necessary to take recourse to technology. With smartphones becoming common it created a huge market for applications or apps as they are commonly referred to. As most of these apps are freeware and can be downloaded easily, it has changed the way we look at software. We bring to you the following apps that can be used. By using apps, you can also save significant time and costs that would otherwise get wasted in either hiring an agency or a financial services planner.
Expense Manager app: These type of apps consistently rank on top for a long time now. They are the most popular apps related to handling money and money management. They have a multitude of features that are enumerated below.
Features: Provides the ability to track expenses daily, monthly and annual basis, they are solely an expense app and therefore they will handle only the expense side, they prepare daily, monthly and annual budgets, Provide regular alerts on payments and dues, they can automatically schedule payments particularly those that are recurring payments, they have the ability to sync your data to an online portal or your memory card, Create interactive charts so that information is lucid and easy to understand.
Financial Planning app: Generally financial planning app encompasses the whole finance wing they include not only the income and expense but also debts, insurance, investments etc. These apps help you to perform calculations and inform the user on ROI i.e. Return on Investment if periodic and final amount is given, evaluates monthly installments (EMI) given the total amount and duration of loan, performs calculations for evaluating pension amount if a given fixed sum is invested today.
Money management Apps: They can help you optimize your management of money and cash flow positions; and they generally come with features like tabulation of income vs. expenses, giving reminders on recurring expenses, capability to sync data with other devices or software, dash lock integration, able to run search on transactions, ability to localize as all major languages are covered.
Money management app in android: Android offers a multitude of apps relating to finances and money management and the best part is that most of them are free. The most common features found in most of the apps are extremely simple user interface, ability to integrate various aspects of money management like preparing budget, handling income and expenses, ability to integrate checkbook registries, and set reminders for invoices.