Trying to save money but need a more structured and convenient way to do it? Thankfully, we live in a world with mobile apps that can do everything from limiting your expenses to helping you earn more.
Whether you have just received your first pay cheque or spent the last couple of months working, if you’re someone who just realized that you need a better system to save money, then you have come to the right place.
Everybody has different financial goals, which could be saving money to buy a new laptop or a new car, going on a vacation, retirement planning, and so on. You might also have financial goals like spending less on non-essentials, keeping a track of your expenses, and so on. All these goals can be met if you manage your finances wisely.
If you are someone who has a difficult time saving and managing your money, there are apps now that you can utilise and get started. To get your sorted, here’s a list of some of the best money saving apps available in India to help you manage your finances:
1. The Money Club
The Money Club is a safe and secure online chit fund platform that allows you to save or borrow money in collaboration with verified peers – just like the good old beesi system. You can join a money club with other like-minded people from all over India by simply filling a form and completing the verification process. What’s more? It has a referral program that pays you in cash and credit for every member referred!
Download it to keep track of your overall finances. It arranges all your bills in one place and gives a detailed analysis of your spending pattern followed by tips on how to cut down on expenses.
Popular among college students or Gen Z for dividing a bill amongst themselves, Splitwise makes splitting money super easy. All you need to do is create a group and add your expenses there. The app will automatically send a notification for everyone to pay up. No more following up for getting your money back from your friends!
The replacement for your messy notepad is here. A simplified budgeting app that keeps track of your daily and monthly expenses, Mtrakr helps you pinpoint where you have been splurging the most and how to cut down on it.
5. Tax Calculator India 2021-2022 (My Tax)
Have you wondered how taxes work, and you end up losing a chunk of your salary to it? Enter Tax Calculator India 20211-2022. This DIY income tax calculator helps you compare and choose the tax regime that suits you. It also suggests tax-saving opportunities to you based on your entries.
6. Cash Karo
With the vision of being the easiest savings destination for shoppers, CashKaro is one of the few savings apps that credits real cashback directly into your bank account. It also gives you the best deals and offers while shopping.
If you plan your budget vs expenses at the beginning of every month, you will always be in a better place to save money for your financial goals. Mvelopes can manage this for you digitally. It will help you allocate an amount to categories like groceries, conveyance, rent, etc., and if you exhaust money from one envelope, it lets you transfer money from other envelopes, or else you can wait for your next salary to get credited.
Formerly known as Groupon India, Nearbuy is an online marketplace that allows you to purchase from local merchants by availing of some amazing deals. You can shop across categories like food, beauty, wellness, movies, hotels, etc. However, you need to pay for a deal in advance and show the receipt to the merchant at the time of your visit.
Who doesn’t like discount coupons? Mydala provides a fun and easy way to indulge in shopping and save big time. You can score some of the best deals near you for restaurants, grocery, entertainment, travel, etc., available in over 200 cities in India. Once you get your Mydala voucher or coupon, you can show it to the vendor and enjoy the sweet deal.
A more popular app for finding the best coupon deals in your city, GrabOn is associated with big merchants like Uber, Flipkart, Swiggy and Myntra. GrabOn also extends the benefits offline when you want to avail yourself of discounts on hotels, retailers, and other service providers.
Online earning by referral programmes and legit earning apps is slowly rising in India. However, users should also be cautious of choosing the right platform to protect themselves from any fraudulent practices and follow smart investment tips.
So there you go, now that you know the top money-saving apps, you can get started with the one that meets your budgeting requirements and start saving today.
Aatish Khanna works with the Content Marketing team at Money Club – a digital chit fund platform that makes saving, borrowing, and investing your money more efficient. He writes on topics to help his readers understand processes so they can make better financial decisions. He’s the go-to person that his family, friends, and colleagues turn to for all their money matters. He loves to play board games and aspires to one day build his one finance-related board game and app.