There are a lot of good personal finance and investment apps on the marketplace, but trying to find an app that does it all is hard.
Instead of trying to make an app work for you, you could actually build your own app - one that checks off all of your boxes.
The world of personal finance has completely shifted in just 20 years. We’ve gone from a world where physical money - dollar bills and coins - were the preferred tender of choice to a world where plastic and digital modes of spending reign supreme. Credit cards, debit cards, cryptocurrencies, PayPal, and Venmo - these are the economic tools of our time.
While we’re all aware of this shift, we - meaning collectively as 21st century
Americans - haven’t done the best job of shifting our own personal finance
habits. With balancing a checkbook no longer a necessary or commonplace
practice, we have to find new ways to track our spending and saving. The same goes for investing. Paper statements are out and digital accounts are in. For many, this makes tracking investments a bigger challenge.
The solution? Personal finance apps - of which there are many. Some of the most popular ones include:
These are just three of the top apps. There are dozens of additional personal finance apps that fill various voids and meet different needs. The problem is that they each do different things, follow different personal finance belief systems, and have their own nuances.
It’s impossible to find a personal finance app that completely meshes with your strategy, preferences, needs, and wants. At the end of the day, you have to choose an app and build your personal finance philosophy around that app (which isn’t recommended).
But there has to be a better way, right? (You can read that in your favorite
The answer is yes. But you’ll have to roll up your sleeves (or hire someone to roll up their sleeves on your behalf).
For the purposes of this article, we’ll assume that you’re building a personal finance app that’s truly personal. In other words, you’re designing it for yourself - not with the intention of mass distributing it or selling it to
others. (Though this is certainly an option down the road.) And with this in
mind, here are a few helpful tips:
Clearly, this isn’t a technical how-to on app development. But if you use these four guiding principles, you’ll lay a solid foundation for future growth.
We all have different financial situations, philosophies, needs, and objectives. By designing your own finance app, you can bring control and clarity to your situation and do more with the resources that you have.