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.
