Managing personal finances can be challenging in today’s dynamic world, where every rupee counts. But with technology-driven tools, money management and making informed financial decisions becomes much easier. With the help of SEBI-registered investment advisory-backed apps, you can track your spending and also make smarter financial decisions for long-term wealth creation.

The rise of these personal finance apps has simplified monitoring finances with unique features like automated categorization and real-time insights. Investment tracking is also a feature in these apps, enabling users to monitor their portfolio’s performance, including stocks like Adani green share price. In this article, we’ll explore some of the best apps for tracking your expenses, investments, and overall financial health.

How tracking expenses can change financial habits?

Tracking monthly expenses can be overwhelming and thus being financially disciplined is a step toward being more organised. These apps can be a saviour in keeping track of income, spending habits, and savings gaining insights into your spending patterns. There are solutions for every need like a daily expense tracker or a more advanced financial planning app.

A money management app has key benefits which include:

• Smart Transaction Recording: This feature allows these apps to link with your bank accounts and record transactions automatically. It reduces manual entry errors and ensures your records are accurate and upgraded.
• Budget Management: This app offers budgeting tools to set monthly or weekly limits to avoid overspending and stay on track with your financial goals,
• Goal Planning: These applications allow you to define financial goals and monitor progress.
• Expense Categorisation: Users understand which categories they spend the most on and monitor them with these apps.

 Features to look for when choosing a Financial Health  App

Be careful when choosing the financial app essential for managing your expenses by understanding the ideal features it should include:

• Easy Usability: The app should be simple to use and have clear categorization.
• Security: Personal financial data should be protected by encryption
• Analytics and Reports: Budget tracking, bill reminders, investment tracking, and financial insight including graphs and pie charts for easy analysis
• Compatibility: Aligned to multi-device for easy access and linked to a bank account
• Customizability: Ability to customise the app as per individual needs.

Best Apps for your expense tracking and financial health

A list of top personal financial apps has been discussed here with a focus on user experience, features, and efficiency, and is useful in tracking expenses and also managing investments.

Mint

A great finance app that supports a wide range of banks and lenders. It’s easy to manage expense tracking, budgeting, bills, and even monitor your credit. A free app for Android, it provides real-time updates on your financial status offering personalized money-saving tips.

Key Features:

Checks credit score ( free)

Integrates with bank transactions for bills and investments

Budget tracking for goal-setting

Reasons for Choosing Mint

Simple to use

Real-time insights into your financial health.

Customizable reports and alerts.

Walnut

Walnut, a useful and smart app, automatically tracks expenses by reading SMS alerts sent by banks. It is a comprehensive finance app as it can split bills with friends and track ATM withdrawals.

Key Features:

Tracks expenses through SMS alerts automatically

Users are alerted about upcoming bills to avoid late payments.

Automatically categorises spending into various heads like groceries, travel, etc.

An overview of monthly expenses is provided by the app

Reasons for choosing Walnut:

Easy expense tracking.

Integrated with most banks for automatic data alignment

Reminders and alerts for bill payments

Goodbudget

Popular as a budget tracker, the Goodbudget app focuses on a cash-based spending plan that allocates funds to different spending categories and checks overspending.

Key Features:

Helps you allocate funds for different categories to avoid overspending

Manual operations to enter your expenses and income.

Provides comprehensive reports on your spending patterns.

Reasons for choosing Goodbudget:

Encourages disciplined spending habits

For individuals who prefer manual tracking

Gives insights for better money management.

4. ET Money

A comprehensive financial planning app ET Money helps in expense tracking, manages investments, insurance, and taxes. ET Money is ideal as an all-in-one tracker.

Key Features:

Provides customised financial insights based on your spending habits.

Helps track your investments in mutual funds, stocks, etc.

Aligns with your bank account for tracking.

Reasons for choosing ET Money:

Offers comprehensive financial planning.

Aligned with investment offering a complete personal finance solution.

Simple, user-friendly design

5. YNAB (You Need A Budget)

An internationally renowned budget tracker app, YNAB has a growing base in India. This proactive budgeting app helps achieve financial goals easily.

Key Features:

• Encourages users to put every rupee to work
• Tracks and manages expenses with different category limits.
• Spending and saving insights offered

Reasons for choosing YNAB:

• Ideal for proactive budgeting for better financial discipline.
• Manage finance tracking with reports and charts for better analysis
• For serious individuals with long-term financial goals.

Conclusion

The task of money management has become very convenient with the rise of personal financial apps. These apps are very useful in keeping track of daily expenses, setting budgets, and future expense planning. This article may help you in choosing a financial app for setting your financial goals.