Take Control of Your Finances With These Essential Apps
Most young Indians are not educated in managing their money properly. Whether it’s something like taxes or building a monthly budget or even planning investments, these are essential life skills that so many people here are woefully lacking in.
Now there’s wide range of apps that can help you out with all the different financial questions that you are facing. We looked at different issues such as knowing what tax to pay, planning our investments and balancing our monthly budget, and put togethr a small list of our favourite apps.
Balance your budget with iExpense Diary.
Not knowing how much money you actually need every month is one of the biggest problem that many of us face. But you need to know this to properly manage your money.This app lets you enter your income and expenses quickly and comes with a large number of catagories you can sort your spending into. By doing this, you can track whether your movie watching budget is out of hand.
Track Your Taxes with My Tax India.
My Tax India helps to calculating taxes taking into account investments and other deductions can be intimidating. The tax calculator doesn’t actually file the taxes for you- but it makes it simple to understand how much tax you need to pay, and you can expeiment with the different settings to learn what the optimum level of investment will be for you. You will be able to use this app even if you understand absolutely nothing bout personal finance. This way, when the time comes to file your returns, you will already know what to expect, instead of getting a surprise at the time.
Smart Tracking with money
Right now money view is only available on Android, but it is a very useful app that automatically tracks your spending. When you install it, you have to give the app permission to access your SMS inbox but that is the only security clearance it wants. As long as you have SMS alerts enabled for your bank accounts and debit and credit card accounts, you will find this app incredibly useful. It takes a while to load when you start the app for the first time, because it is scanning you entire inbox for messages from your financial institutes.
Check Your Investments with Moneycontrol’s Markets on Mobile
Free (iOS/Android/Windows Phone/ Blackberry)
The few people who actually knew what they were doing with their money all had a bunch of different recommendations to try out, but the one thing that everyone we asked agreed on was this app. After having using it we can see why- it’s fairly simple to enter the information about your investments, and once you’ve done that, you’re just one tap away from seeing all your stocks.
You can see an aggregated view at the top of the screen, telling you if you’ve made or lost money, and you can also see the details of each individual investment.