In difficult times effective control of money flow is very important. We all have distinct ways to deal with our problems. In early times when people used to think to invest. They had to follow complex accounting systems to manage their expenses and earnings.

The innovation of personal finance apps has made things much simpler in recent times. There have been several personal finance app ideas in the market. But it is very necessary to choose the appropriate approach to join the market leaders.

Look out for a finance app development that is safe, secure, intuitive, and has all the essential personal finance app features.

The problem is complex and requires detailed and extended explanations. Thus we have covered all the essential information about how to develop a personal finance app?

If you still have queries, then mobile application development agency is the best option to reach out to. So let’s dive in.

What Is a Personal Finance App?

A personal finance app is developed to plan out a budget, manage your private money and track your spending. These financial application examples are often called money-saving apps.

As these budget apps allow users to lend, borrow, and invest their money. The end users are the target audience for simple finance applications.

Therefore their business model is Business to Consumer (B2C). These personal finance app ideas help users manage their money carefully as these budget apps are for the personal use of users and not to establish any business goals.

There has been a boost in the number of people installing and setting up personal finance apps on their smartphones. The numbers themselves justify the benefits of personal finance app features for its users.

Benefits Of Personal Finance App Development

Here is the list of advantages of simple finance application:

☛ Effectively Manage Finances And Monthly Accounts

Personal finance app ideas help users keep track of their expenses on purchases, examine their income and expenditure, and then make a wise decision.

The personal finance app features also help in calculating financial behaviour and making decisive adjustments.

☛ Safely Manage Personal Finances

The personal finance app ideas enable users to feel secure and confident about their finances as they are in knowledge of it.

It is very important to distribute your money between should buy and casual luxuries effectively. And once done with all expenses, there needs to be a sum of money set aside for savings.

☛ Helps To Make Wise Financial Decisions

The major benefit of installing a personal finance app is that it prevents users from making spontaneous purchases.

These budget apps enable you to make proper monthly budget plans and fund distributions. And this eliminates the risk of wasting money extremely.

Hence it encourages people to save money for the things they actually require rather than spending their money inappropriately.

Studies by ThinkWithGoogle say that 73% of smartphone users have used a simple finance application to manage their monthly finances.

Why to Create an Expense Tracker App Or Personal Finance App?

What is the need to create your budget app? Here we will examine the motive to create your budget app.

According to the research done by AskWonder in the year 2015, In us, the personal finance app market gained the estimated worth of $24.5 million, and the number of users above 18+ was 12,816,140.

And the well-known financial applications examples were:

  • Mint with more than 20 million users
  • Money Lover with more than 1 million users
  • Monefy having more than 1 million users
  • Personal Capital Finance with more than 100k+ installs

These increasing numbers of finance app development created various opportunities for the assets and finance industry.

Some of the statistics concerning personal finance app development are:

  • The total transaction value of the personal finance segment would be more than $700,000 million by 2020.
  • Studies state that personal finance apps are likely to generate more than 24 billion downloads in the second quarter of 2020.
  • Studies of GlobalNewsWire states that by 2026, the personal finance software is estimated to contribute $343 million in the US personal finance app market.
  • Business Insider Budget has shown that about 53% of the users use mobile finance apps.

Basic Features To Integrate Into Simple Finance Application

1. Account Integration

Ensure that your personal finance app collects all the financial accounts of its users, like all credit cards, debit cards, mutual funds, loans, and many more.

Then, please create your own budget app that can be a one-stop solution for everything one would require to manage their finances.

2. Security

With customers, confidential credentials and data come with a huge responsibility. And it is one of the important lessons that businesses need to discover from Fintech companies.

To create your own budget app is one thing, but to make it safe and secure for your users is an entirely different tale.

Several technologies in the market can help you develop personal finance app ideas that can keep your money more secure and less vulnerable. Here is the list of some of these technologies:

✍ Biometric Security Management

It integrates distinct characteristics of a person like fingerprint patterns or voice verifications.

The integration of biometrics makes it extremely difficult for someone else to get into your personal finance app.

✍ Multi-factor Authentication

It includes an extra coat of security. Two-factor authentication makes it much more difficult for hackers to access the customer’s confidential credentials and data.

✍ Real-time Alerts

A personal finance app development needs to send alerts to their users in real-time.

Customers build a lot of confidence and trust if they know that they’ll receive immediate notification if someone is trying to access their confidential information.

3. AI Algorithms

There are several ways Artificial Intelligence is evolving the mobile app development industry.

First, improving it in terms of developers app revenue and user engagement. Second, AI algorithms are likely to help users to have a personalized user experience.

There are so many things in top trends in Artificial Intelligence in upcoming years. So let’s look in detail at how AI can make a simple finance application more efficient.

  • AI will help users to integrate expenditure categorizations. That will help them classify the amount spent on each category like entertainment, medical, daily groceries, investments, and many more.
  • AI also creates expenditure analytics which delivers regular updates and provides users with data visualization of their money spent on specific categories.

4. AI Chatbots For Valuable Advice

AI chatbots provide access to all the user’s data to analyze and provide their users with valuable suggestions.

The solutions provided by chatbots can help users to work on their spending habits by providing them insights about budgets, credit scores, and many more.

That gives rise to AI-based recommendations, which leads to developing efficient personal financial applications examples.

The AI-based customer service chatbots are duplicating human communications, supplying valuable and efficient information to users.

5. Real-Time Expenditure And Tracking

A personal finance app should assist customers in tracking their earnings and expenses. These personal finance app features should be handy to help users save both money and time.

Significantly, customers should not switch budget apps to manage their spendings and investments. Instead, it should be effortlessly available to them on a single platform.

6. Clarity

Complicated procedures and navigations in simple finance applications irritate users as it involves lots of confidential details and information.

While personal finance app development, you should keep the 3-click rule in your head. Three simple tips are enough to lead customers to their desired way.

7. User Experience

Many inexperienced developers build an app without concentrating on the app design. And it leads to the ultimate app’s downfall.

iOS Application Development Company believes that there needs to be a balance between an app’s functionality and design. They know it is hard to maintain but is necessary to provide in a Custom Android App Development.

The design of your personal finance app ideas needs to be user-friendly to provide users with better customer satisfaction.

To create your own budget app with an enhanced user experience, one should focus on their target audience and requirements.

However, knowing the requirements is not enough. One must think like a user before starting with personal finance app development.

The user experience will be the primary factor for a user to decide if they want to use the budget app.

Therefore, ensure to create your own budget app, which is easy to use and navigate. It will ultimately lead to business growth.

8. Steady Customer Support

It is significant to have 24*7 customer support. And a customer help desk in distinct languages can provide you with a global client base and build customer loyalty towards your company.

9. Alerts And Notifications

It is also one of the vital personal finance app features for a budget app. As notifications can assist customers during

  • More expenditure
  • Insufficient balance in the account
  • Future bills to be paid
  • Great deals and opportunities for investments and savings

Advance Features to Integrate Into Your Personal Finance App

Some of the advanced features that can be integrated into your personal finance app

  • In-build general calculator
  • Currency converter
  • Tax calculator
  • Credit score calculator
  • Shopping lists
  • Money market analysis
  • Commodity market analysis

Technology Stack For a Personal Finance App

  • Developer Stack: NGINX, BootStrap, PHP, Adobe Flash, Amazon Cloudfront, Apache Commons, Angular JS, CoffeeScript, GitHub, EmberJS, HTML 5, Google Maps, Node.Js, PostgreSQL, Play Framework, ReactiveX, RaqGit, Ruby on Rails, TypeScript, SQLite, Stylus, JQuery
  • Marketing Stack: MailChimp, Google AdMob, Google Sign-in, Google Tag Manager, Segment, Mandrill
  • iOS Mobile App: Objective-C, Swift
  • API/Backend: .NET, Postgre DB, Ruby
  • Analytics and Data Science Stack: Google Analytics, Amplitude, VWO
  • Admin panel: React, jQuery, Angular
  • Customer Support & Success Stack: Forumbee, Help Scout, Intercom
  • Productivity & Operations Stack: Slack, G Suite, Google Hangouts, Google Drive
  • Product & Design Stack: clipboard.js, Trello, Font Awesome
  • Other Stack: 1Password, ClickTale, TripActions, Mixpanel
  • DevOps & IT Stack: Zencoder, Jira, Bugcrowd, Cloudflare, Facebook Comments, Crashlytics, ExpressionEngine, Comodo SSL, Fabric, Gravatar, Heroku, Phusion Passenger, Rollbar, Jenkins, Wistia
  • Finance & Accounting Stack: Square, Recurly

How Much Does It Charge to Create Your Own Budget App?

The immediate questions that would have struck your mind while thinking of a personal finance app are, How to develop a personal finance app? How much does it charge for finance app development?

The entire article talks about how to build a personal finance app. So here we will discuss how much it costs to develop a budget app.

The cost for finance app development depends on several factors as the entire system incorporates various features and integrations.

Here are the factors that majorly affect the cost of simple finance applications:

  • Basic features
  • Advanced features
  • Size of your development team
  • Development partners location
  • Third-Party integrations or third party resources like database, authorization, and API
  • Certifications and compliances
  • Maintenance and support

Custom android app development comes into the picture while estimating the cost of personal finance apps. Like features, App platforms, operations, aesthetics, and many more.

It plays a major role in deciding how much your app development will cost.

The cost to develop a personal finance app ideas are:

  • Cost to develop iOS app: $20,000 – $25,000
  • The cost to develop Android app: $15,000 – $20,000
  • Cost to develop Windows app: $18,000+

Apart from this, the area that plays a critical role in deciding the app development cost

  • Hire a developer from the US: $120 – $150 per hour
  • Hiring a developer from South Asia: $100 – $120 per hour

So when you plan to develop a personal finance app and want to know the exact estimation for your app development. Contact the iOS Application Development Company as they can provide you with the nearest estimations.


The article justifies that a simple finance application can do wonders for users as it can help them to manage their finances, and avoid reckless purchases.

Also, it prevents them from undergoing necessary debts, eliminates the chances of needless purchases, and encourages users to concentrate on the real worth of money.

Most important of all it makes the entire process of money management simple and efficient. Moreover, it provides users with absolute control of their finances.

If you want to know more about how to develop a personal finance app? Then a top mobile application development Agency can be a great helping hand.

how to develop personal finance app


Mobile apps have now become a source of digital marketing and advertising. Using advertisements to monetize apps and make money out of them is quite easy. You can also get paid each time a visitor clicks your ad. Your company can also approach a partnership basis with specific loan firms, banking tutors, and trading businesses and advertise a finance app development.

The list of features to be integrated into personal finance apps are:
  • Gamification
  • AI-driven financial accounting
  • Personalization
  • Accounts aggregation
  • Categorization and budgeting
  • Setting financial goal
  • Tracking bills and expenses
  • Savings tips
  • Investments analysis
  • Reports (including credit score and net worth calculation)
  • Refinancing
  • Multi-factor authentication
  • Notifications and alerts (including fraud and identity alerts)
  • Synchronization with
  • MintSights
  • Personalized offers
  • Help and support

A good credit score is considered as 670-739. The ranges vary depending on the credit scoring model, and the fair credit score is between 580-669. And 740-799 is considered as very good, and scores above 800+ are considered as excellent.