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Top apps to manage your personal finances

With the pandemic causing significant slowdowns and added burden to individual and collective finances, it has become essential to streamline one’s budget, economic flow and optimize expenditure. Now that day-to-day tasks are getting increasingly digitalized, it has also become convenient to have access to internet services that can provide one with requisite solutions in demanding situations. Today, people across the world have traded the pen-and-paper apparatus to feathery-smooth screens, which can greatly assist one in carrying out basic and essential tasks. 

In a few words, to do something like managing your finances is simpler with a smartphone, internet connectivity, and a suitable app. Wondering which finance app can prove to be ideal for you? You can check some of them below.

  • Personal Capital: Your Way to Customise Budgets

Nothing looks better than an artificially-enabled assistant that can holistically take care of your finances and manage personal budgets. With Personal Capital, the US-based finance app provides you with personal finances tools such as a net worth calculator, a retirement planner that takes into consideration your average expenditure, and a fee analyzer that integrates smart technology with your mutual funds’ investment to uncover hidden fees. With more than 3.1 million users worldwide and a robust internal security program, Personal Capital is one of the ideal picks on the shelf. 

  • YNAB: Integrate Better

With You Need A Budget, you can forego your finance-related worries, for the app lives true to its ‘Gain total control of your money’ motto. Designed for individuals to reach their financial goals and manage budgets optimally, YNAB processes your personal finances with a four-rule method to cover your dents and channel your savings better. Integrate all your personal accounts such as credit cards, loan balances, and schedule monthly bills with ease. Sharing your budget with a partner? The app puts you on the same page — you can multi-manage while maintaining privacy as well.

  • MO Investor: Trade and Invest at Your Fingertips

It is understandable that in India, only a handful possess financial literacy. With the MO Investor app developed by Motilal Oswal, a wide variety of investors — beginners to advanced — can find their entry point into trading and investing in stock markets. The finance app allows you to build your own Curated Portfolio based on Investment Style Conservative and the option to choose your investment horizon. Get access to detailed, real-time trading reports and a Smart AI tool to restructure your portfolio for a better investment.

  • Mint: Reduce Manual Effort 

Few like the idea of coming home to managing day-to-day tasks, and finance, budgeting, optimizing expenditure often take the worst hit. With Mint, you can ‘take the work out of personal finances’ — a simpler way of saying that you can offload credit monitoring, expenditure records, and personal budgeting onto the app. While it is natural to be squeamish when it comes to trusting finance apps, know that Mint incorporates 256-bit encryption and multi-factor authentication walls to ensure robust security.

  • Looking Forward — Managing Finance Online

In a world accelerating towards digital technology and on-the-cloud services, apps have significantly reduced manual tasks and effort. Furthermore, with the lack of financial education in India, only a fortunate few are able to do the task well. With premium finance apps, the process of self-educating into managing finances is simpler, inexpensive, and more friendly to say the least.

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