Which app is the best for managing finances (investments, insurance and expenses) ?
Preferably free. Drop in your suggestions!
If you cannot manage all 3 on a Google Spreadsheet, you're doing it wrong.
PaleAnybody
Stealth
a year ago
True that. I have tried multiple apps out there since desktop days. All apps are just good at collecting your data and making use of it.
If you want better control and understanding, use excel/google sheets.
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Have used ICICI for everything, so just go on the individual apps to keep a track for everything
Itās the reason I donāt go to newer banks, stock broking apps
prolly not the right approach
You make your investments through the bank? I have a bridge to sell...
Jokes apart, if you buy MFs through them you're buying Regular plans which incur broker fees, you're okay with that? And bank employees are incentivised by their targets, which has always rubbed me wrong. Do you not have this problem?
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DesignTinker
Stealth
a year ago
Been using INDMoney for some time now. You can add and track all investments (stocks, MF, Bonds, Crypto) and Insurance. Not just that you can also use it to invest.
But it doesnāt help with tracking expenses.
lucifer09
Stealth
a year ago
I use the notion finance manager template by Easlo.
VedJordan
Student
a year ago
Same seems easy and effective
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I have tried many. But best of all is Axio for tracking expenses. You can create 'Tags' for expenses made via credit card/bank account. Also very customisable.
For tracking investments i manage spreadsheet.
Maximusprime
Stealth
a year ago
Axio is the best..
OldReform
Stealth
a year ago
I am working on creating a startup around this idea only! As I am the customer zero for these pain points. Would love to understand all the different pain points that you have faced so far and still not found a viable solution for it.
OldReform
Stealth
a year ago
Let me start:
1. Not exhaustive enough- For e.g. there are hundreds of apps in INDIA in the fintech space but none can be the one stop solution for everything related to money. No phone in the country has only one financial product/service related app.
2. DIY mess- The plethora of information and tools available for this space makes it a choice paradox. Instead one trustworthy provider that can handle all the mess for us will be a great sigh of relief.
For e.g. if one is a HNI, the private bankers will take care of almost everything from banking to investing to taxation,etc. but no one is solving for emerging HNIs.
3. Fees- the growing gap between forever free products and confusingly priced premium products makes people like me find a good and simply priced product/service. But none available.
4. AI- compared to all the other aspects of human lives, finance can get the best help from AI related solutions as it is majorly numbers. So if it can be combined with humans for less bias, distribution and empathy, it will be a combination never seen before. Generative AI if used correctly can be one of the examples.
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Pocket Money!
I havenāt used it yet, but I will :)
Feel almost part of the journey
Simple plain Google sheets.. My own template.
Dedicatedly sit 1day per month and log all my Financials in the sheet.
Recently started using Fold tough. It's looking good but still has long way to go.
I'm doing something similar. I feel that it's very reactive. I want to be proactive in managing expenses. Do you have tips for making this shift?
For something to be proactive the expense should be real-time. You need to use some kind of Account Aggregator tech. Fold is one such app. It brings in all your bank transactions twice a day and you can tag them and group them. So you can have nice overview for spending summary and cash flow of incoming and outgoing.
Let me know if you want to try fold app.
Indmoney is the best, you need some time to set it up but it's great.
That's true, truth to be told that's the most sensitive data you are handing over to a private org. For someone with a low net worth like me, it's fine.
SMF
Stealth
a year ago
Axio
SMF
Stealth
a year ago
No, it was previously known as Walnut but then Capital Float purchased it and renamed it as Axio. It'a personal finance tracking app.
UsableStab30
Stealth
a year ago
Expense Manager. Very basic Android app.
everything
Stealth
a year ago
If you have spending under control you don't need no app to manage expenses
https://play.google.com/store/apps/details?id=com.mycompany.expensemanagerai&hl=en_GB
App is still in the initial stage. You can track expenses, create shopping lists and split bills easily.
To track daily expenses, I haven't found app better than Ivy wallet. Everything is good in the app.
We have something called Personal Capital here in the US for personal finance tracking which does a pretty decent job of aggregating all kinds of different accounts including banking, investment, credit card, mortgage etc. and displaying all the information under a single networth dashboard and is pretty impressive. I've yet to come across such an app in India from whatever I could search but I am pretty optimistic to see one in the near future.
ActualSurvey
Stealth
a year ago
Fold - but it's still in beta and invite only.
