Remember the last time you wondered where all your money went? You probably remembered the big spends but forgot the small ones that quietly added up. That’s where a financial management app steps in; it keeps a running record of every rupee in and out so you’re never left guessing.
Today, we’ve multiple choices. Some are free and focus on the basics, others cost a little but give you more depth, like investment tracking, reminders, or reports you can actually understand at a glance. If you’re looking for the best app for managing finances, it helps to know which ones fit different needs.
Why Use a Finance App at All?
You can track expenses in a notebook, but a finance plan app takes away the manual effort. With one on your phone, you can:
- See your spending categories instantly
- Get alerts before crossing your set budget
- Link income and investments for a full picture
- Store everything in one secure place
It’s not about replacing discipline; it’s about having a tool that makes discipline easier to follow.
The Top Picks in India
Here’s a quick table comparing 5 options:
| App Name | Key Features | Best For |
|---|---|---|
| mTrakr | Tracks income/expenses, shows areas to cut back | People are starting to budget |
| Walnut | Groups spending, shows trends over time | Those who like visual reports |
| Moneycontrol | Tracks stocks and mutual funds | Market investors |
| ETmoney | Weekly reports, expense categories, mutual fund support | Budgeting plus investment planning |
| Goodbudget | Bill tracking, expense breakdown in percentages | Shared household budgeting |
1. mTrakr – Budget Basics Without Fuss
For anyone who just wants to start logging money in and out, mTrakr is straightforward. Add your expenses, check the sheet it builds for you, and see where you can trim. Over weeks, you’ll notice patterns you might have missed earlier.
2. Walnut – Clear Spending Insights
Walnut reads your transactions and sorts them into neat categories. Groceries, fuel, online shopping – all separated. Over time, you’ll see your spending patterns change. That’s useful for deciding where to cut or where you can spend more comfortably.
3. Moneycontrol – The Investor’s Choice
If you’ve got money in stocks or mutual funds, keeping track can get messy. Moneycontrol puts your portfolio in one place. You can watch prices move, check the current value, and make better-timed decisions. For market followers, it’s one of the best software for personal finance in India.
4. ETmoney – Balancing Budgets and Investments
ETmoney not only sorts your daily expenses but also gives you weekly updates. The visual reports make it easy to digest, and if you’re exploring mutual funds, it offers curated options and advice. It’s a solid pick for those who want both budgeting and investing under one roof.
5. Goodbudget – Built for More Than One User
Managing shared expenses isn’t always smooth, but Goodbudget makes it easier. Bills, joint savings goals, and expense breakdowns are all stored in one place. It works well for couples or families who want transparency in household finances.
Other Apps Worth Knowing
The top five aren’t the only capable tools out there. You might also like:
- FinArt: Turns your spending into easy-to-read charts
- Money View: Shows bank balance, finds ATMs nearby and offers savings options
- Chillr: Combines money transfers with monthly transaction summaries
- Wally: Tracks every transaction and helps you set goals
Free or Paid: Which Makes Sense?
It depends on your priorities.
- Go with free apps if you only need to track expenses and get a basic overview. mTrakr and Walnut are great for this.
- Pick a paid app if you want investment tools, shared budgeting, or deeper reports. Moneycontrol, ETmoney, and Goodbudget offer more here.
Starting free is smart; you’ll figure out which features you actually value before spending on a subscription.
Conclusion
The best app for managing finances is the one you’ll actually use, whether that’s a free tracker or a premium tool. A financial management app can help you see exactly where your money is going and keep you accountable to your goals.
And if your plans include covering larger expenses, from education to home improvements, you might also consider financing options like Fibe Personal Loan. It offers up to ₹5 lakhs for 6 to 36 months with an affordable interest rate for applicants aged 19 to 55 years.
Combining a reliable finance plan app with smart borrowing can give you a better handle on your financial journey.
FAQs on Top Financial Planning Apps
Can personal finance apps boost your credit score?
Not directly. But they help you stay on top of bills and avoid missed payments, which can keep your score from dropping.
Do personal finance apps know your net worth?
If you link your bank accounts, debts, and investments, many apps can estimate it for you.
How to choose the best financial planning software?
Decide if you need it only for budgeting or also for investments. Then, pick one that’s easy for you to use and works across your devices.
