There is an app for everything now, and there are millions which are trying to help you make, save and manage your finances. After exploring the space, we’ve singled out 11 apps that could help you solve the mysteries of your light wallet:
1. EMI Calculator
If you are planning on taking loans, download this app as this is the best one to guide you through the process. This app helps you calculate the EMI (equated monthly installment) on a monthly or yearly basis and share this detail with your friends or family for paying the loan. It also has a Home Loan Eligibility feature which is used to figure out the borrowing amount.
ClearTax is an app to e-file your income tax returns in a few seconds. It also enables you to find your Income Tax Refund Status by the PAN no. and DOB. It also allows users to develop functional rent receipts to claim HRA benefits. Further, the app helps in calculating Income Tax for the current and next financial years.
3. Financial Calculators
Be it interest calculation, currency conversion or even retirement planning, almost every sort of calculator can be found in this app. It has a simple tie-up with a set of calculators, which users can edit and reorder to the most frequently used ones for easy access.
4. My Tax India:
If you think that the process of calculating your taxes is a hassle, this app may be your best solution. It is a simple calculator which is used to determine the tax liability and tax splits just by your phone. The information can be used to determine the level of elevation in investment which is required to save the tax on your income.
The Wally app is the right app for you if you are facing the problem of managing your expenses. The app does the work of scanning and reading the receipts of your purchases by using its location tracker. This means you don’t have to work through entering any cumbersome details. The app also lets you set saving targets and sends you notifications accordingly.
Dining out with friends always leads to confused attempts at splitting the bill. Coming to the rescue is Splitwise. The app helps you add the bill and calculate how much each person owes. It also helps you categorise the expenses and send reminders to people who owe you money.
HomeBudget is a non-discriminatory expense finder developed to let you track all your expenses, account balances and bills. The app performs functions like changing a bill into expense when you pay it, and automatically adjusts the balance of the account. The app also has a feature called ‘Family Sync’, which helps a group of people within the household exchange budgeting details through this app.
With a lot of functions in a single app, Walnut can be used mainly for managing expenses and checking how much one spends. It also allows users to see bank transactions and analyse other bills (in your SMS inbox) by looking at the keywords. The app is fully automated and scans your SMS inboxes for keywords, while filtering messages of bank transactions, and adding expenses to the sheet with proper security settings.
9. Money View
Money View helps you get a real-time, comprehensive view of your personal finances. It is fully automated without any manual data entry and organises your financial summary by analysing SMSes sent by bank and billers to your phone. This daily expense manager app automatically tracks your bills, expenses and account balances in all your money accounts to help you manage your finances. It also lets you split loans or expenses
10. Bills Reminder
Paying utility bills is bad enough, but missing the deadline for bill payment can actually be a lot worse. The Bills Reminder app can save you the trouble by letting you organise and manage all your bills. It keeps track of the due dates and sends reminders, so you never miss a deadline again.
This Aditya Birla developed app is helpful for people who don’t do well in keeping track of their budgets or see a disparity between the acts of spending and saving . Come the end of the month, to-spend-or-to-save becomes a catch 22 situation, therefore MyUniverse helps you sort out this dilemma and put your expenses back in line.
However, while we are great believers in technology, we must point out that these apps will not magically cure all your financial maladies on their own. Remember to keep your eyes open as far as your spending (and hopefully saving) is concerned.