Salary cuts and job losses have aggravated their concerns. For instance, 46 percent of millennials in the survey reported stress regarding their long-term financial future.
Wealth tracker app drivers#
Amounts owed can be settled between those concerned in a streamlined manner, mitigating the awkwardness that is otherwise experienced.Ī Deloitte report suggests that the pandemic has added to many stress drivers for young people. The tracking is automated thereby making it instantly easier. Money Management apps can be used to split expenses between friends, colleagues and roommates. The conversations involved in settling dues could also be awkward. These individuals share expenses, which are often hard to track manually. Students and working professionals in cities share flats with co-workers and friends to save on rent. A timely notification on the app goes a long way in reminding customers.įrom car-pooling to rent sharing, young Indians are utilising the benefits of living in a close community. Customers that frequently use credit cards may have experienced the steep costs involved in making delayed payments. Customers are notified of bill payments, such as electricity or credit card bills, preventing the incurrence of late payment fees. Money management apps also provide for monthly bill tracking. This helps in inculcating an attitude of savings in the customer’s mind and encourages a perspective of financial discipline. Corrective decisions can be taken on the go to avoid unnecessary spending and ensure adherence to budgetary limits.
Customers can set monthly budgets to help them reach their financial goals. Since these apps offer visibility on income and expenditure, they can help the customer easily execute budgeting. PhonePe Beat of Progress Powered by Moneycontrol.Pharma Industry Conclave Unlocking opportunities in Metal and Mining.The Challengers Life Insurance Made Simple.Interview Series Business In The Week Ahead.
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