Personal Finance App Development- Stats, Features, Types, and Cost


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Personal finance apps are a great way to manage finances by keeping a track of the spending, managing all accounts at a single platform, and getting the best advice on investment from experts. These apps have eliminated the need of having a complex accounting system to manage earnings and expenses. Not just for the startups and enterprises, these apps also help individuals to manage their finances without any hassle. Let’s learn more about such apps:

Types of personal finance applications

In general, personal finance apps can be divided into two categories:

  • Basic apps with manual data entry

This type of personal finance app requires users to enter the data or financial information manually. They can then keep a track of the expenses, plan further investments, and use other features. The main disadvantage of such types of personal finance app is that it requires a lot of time.

  • Advanced personal finance app

This type of app is designed to automate the entire money management task for individuals, startups, and enterprises. Using highly advanced tools, it fetches information from your accounts. By doing so, it allows the users to access and manage their accounts under one roof, which saves a huge time.

Statistic of personal finance applications

  • Approximately 63% of smartphone users use at least one personal finance app.
  • Around 2/3 of American smartphone users use a personal finance app to manage their finances.
  • According to a report by Statista, the total transaction value in the personal finance sector is expected to reach US$10,128 million by the end of this year.

Features of a personal finance application

Some of the key features of a personal finance app include:

Accounts aggregation

With this feature, you can put together credit cards, debit cards, loans, and other types of accounts of a user. This data can be accumulated with a data-stream known as Open Financial Exchange. The main purpose of this stream is to facilitate the exchange of information developed from Open Exchange File formats (developed by Intuit) and Open Financial Connectivity (Created by Microsoft).

Track spending

This is one of the important features of a personal finance app. By using this, users can keep track of their real-time spending. For example- if a user needs to check its finances or transactions in two different accounts, then he/she can check them both in the app itself. In other words, your app should provide this feature to allow them to manage their finances under one roof.


A personal finance app can have this feature to alert its users when they overspend or when they transfer or receive funds. Apart from this, it can also send reminders by any pending dues or payments such as mobile bill payment or recharge.

Setting financial goals

This feature can help people to set their financial goals (buy a house, buy a car, savings for a trip, etc.) and make their spending accordingly.


You can add this feature to help users who want financial advice from experts. To help users get the right piece of advice, you can further categorize this feature on the basis of different categories.

Sign up/Sign in

To allow users to register on the app and then use it any time. You can add features like sign up using an email or social media profile. A personal finance app could also have a dashboard where users can see every activity or access various options.

Transaction history

To let the app users keep track of their transactions or spending. The feature can help them to manage money.
Apart from this, the other features you can add to a personal finance app are interactive search, online currency conversion, user authorization, and more.

Technologies that can be used to build a personal finance app

Top technologies developers are using to develop highly effective personal finance applications include:

  • Artificial intelligence
  • Blockchain
  • Big data

Top personal finance applications

These are the most popular finance applications

  • Personal capital
  • Money lover
  • Mint
  • YNAB (You Need a Budget)
  • Monefy
  • Wally
  • Acorns

How much does it cost to build a personal finance app?

Calculating the estimated cost of a personal finance app development depends on various factors. Some of them include:

  • Features of the app- A feature-rich application would cost you more than an MVP.
  • Platform- It includes choosing from Android, iOS, or any other platform to release your app on.
  • Complexity of the app
  • Design of the app
  • Tools and technologies to be used for backend and frontend development
  • Duration of the app development project
  • Location of the personal finance app development company or developers
  • Size of the development team- (business analysts, UX/UI designers, developers, testers, project managers, etc.)

After writing down your specific app requirements, you can reach out to a reliable and experienced Custom app development company to have a rough estimate of the cost. Considering the average cost of a personal finance app, you might need to pay $18000 to $30000. The price may vary depending on the other factors mentioned above.

Tips to create an effective personal finance app

  • Pay attention to the security part. Add features like two-factor authentication, session mode, data encryption, and more.
  • Make sure your app targets the right audience.
  • Your app should have a simple interface understandable by all users.
  • It should have a thoughtful and delightful UX.
  • Make sure your app offers round the clock customer support.
  • It should be accessible from multiple devices.


Building a personal finance app needs an individual to consider the cost of its development, features, type of the app, and various other factors in mind. We have covered them all in this article. If you want to know more about them or need to develop a personal finance app, then connect to a trustworthy and experienced mobile app development company


Jyoti Gupta
Jyoti Gupta is a digital marketing expert at Quytech, a well-known Mobile app, AI, Mobile Game, AR, VR App development company. She has been in the marketing industry for 9 years and carries a valuable experience in the respective industry, As a marketing expert in IT Services, she loves to write and share about new technological trends in the domains of mobile, AR, VR and AI.


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