How to Develop a Money Management App on Android?

You must spend money to make money (c)

Let’s face it, we all love money. We work hard to earn them and adore to spend them on the stuff we don’t always need or to make risky investments without any insurances. It’s really hard these days to manually keep track of our spendings and to calculate what we can and can’t afford at some point. That often results in the over-budgeting and unpleasant or unnecessary problems with banks. But... it’s not impossible, fortunately, ‘cuz there is an option that becoming more and more commonly used by all categories of people.

Ever thought about to develop an app for money management? We did! And would like to invite you on some expedition to explore the ideas and possibilities. Let the journey begin?

Money Management App Development for beginners

“An app for tracking spendings helps any person in the world to manage financial expenses and incomes, to make profitable investments and catch the most gainful sales”

Money management app for android or ios picture 5

Custom money management app development provides young and hungry mobile app makers with a wide range of digital tools and huge chances to build a product that would ensure one’s bright and rich future. But we have to warn you if you’re not skilled enough as a programmer, be careful while getting into this industry – when one must deal with other people's money tracking the level of data protection should be high as a mountain.

Money management app won’t be involved in financial transactions but gonna get an access to credit card information, so, the first and top priority task for you would be to ensure the security of the user’s personal information. No one would forgive you for a mistake of skipping this step in the development process. Besides, in addition to this, you must reinforce your application with notifications in case of customer’s identity theft.

As we wrote in our guide ‘How To Build a Mobile App in 7 Easy Steps’, one of the basic stages in mobile app making it’s to prepare for the coding process long before its start. First of all, when you already made up your mind about an idea and a concept for a startup, you should decide for which mobile platform you aim. iOS or Android?

If we’re talking about facts, half of the USA citizens prefer iPhones and iPads, therefore, iOS mobile platform. However, the other half and most of the European customers use smartphones which mean Android or Windows platforms. One more argument, Android apps are usually less expensive than iOS, so, if your budget is thin, it’s better to choose Android over iOS. Not to mention, the target audience numbers will be significantly higher.

Okay then, let’s see, what’s next?

Money management app for android or ios

How to Create a Money Management App for Android. Quick tips

“It’s not your salary that makes you rich,
it’s your spending habits”
Charles A. Jaffe (c)

Shortly after you chose the mobile platform, there is a decision to make about the development approach. Will your application be native or hybrid? All the pros and cons of each type you can explore in the article mentioned above. It would affect the app cost, yes, but the decision always depends on the functionality you need in the app. We don’t have a right to advise something before you make a list of the requirements for your business project. And now it’s time to take actions, yeah?

Tip #1. Market research

It’s inevitable part of any development process. You have to be aware of the threats and enemies. Luckily for you, there is a wide range of already existing mobile apps for money management that you can study totally free. Explore their features and check out the feedbacks from users – what they like and what they don’t, which expectations do they have and how can you ensure that your future product will meet them. As we all know, there is no result in anything without education. So, to help you do your homework, we prepared a short list of the hottest apps for tracking money flows.

Top 3 Free Android Tools for Money Management


Money management app for android or ios picture 1

One of the best money management apps that has an easy user interface and visual “Graph section” (with Excel and HTML exporting option) for comparing gathered information and expenses with each other. It allows recording all expenses on the daily, weekly or monthly basis. Users can see where their cash go and calculate budget to manage outcome and income as well. The app has manual data input and doesn’t connect with some online server, so the customers can use it offline which is a great advantage comparing to other apps.


Money management app for android or ios picture 2
Want to track your bills and expenses comfortably? The app helps to unite personal and corporate spendings to make the bills and recover some of the spent money. Besides an easy-to-use UI, there is a synchronization option to import bank & credit card and automatically put all your transactions into account. A business traveler or a freelancer can very ease generate expense reports about where the money went with the help of something like photos of categorized receipts, time and distance trackers. Then, one could print it out whenever it’s needed. The merchant’s name and a total amount of money spent could also be entered manually and then categorized.


Money management app for android or ios picture 3

With this famous app keeping track of the money flow becomes super easy. Just sync all your accounts by Mint to see where and how much do you spend each day. Create your own budget with settings to receive valuable tips about improving your economic skills. Mint can synchronize all of your devices to manage bank accounts, incomes and outcomes, credit cards, bills or investments. It can be used to plan a budget, but the main goal is giving a user some big financial status picture.

The app shows exactly how much do you spend in each different category of your expenses and monitors all transactions. There are features like spending habits, free credit score access, offline support, and financial goals planner. All your financial data will be kept in one place for your own comfort.

And believe us, these apps have huge numbers of users that are only growing with each day, thanks to their seamless work and earned trust. If you still have doubts whether or not to invest in money management application, check the financial section of the Google Play Store and see the top 10 other apps in this niche. They all are making money while tracking money of others. So, learn from them, gather your intel to build your own strong and steady marketing strategy.

Tip #2. Hardcore technical terms

The point is, if you want to develop an application yourself you’ll have to dive into the basics of programming. For example, to create a source code on Android platform you must learn the Java programming language and be familiar with SQLite database storage to read and write structured data. Also, to help you in this journey there are handy Software Development Kits (SDK) available on the Web.

For the money management app development, you should look ready-made SDKs on the GitHub. And don’t be surprised, when you hear a term like a backend connection. As we mentioned earlier, your mobile product has to protect the personal data of the users, therefore, a secure transport protocol and data encryption aren’t enough. You should not store any valuable information in the app itself. For this purpose, there are third-party services called REST API.

And this is just the bottom of a mountain. But don’t let it stop you! The adventure is still ahead.   

Tip #3. Type of the money management app

“The goal isn’t more money.
The goal is living life on your terms”
Chris Brogan (c)

Based on our analysis of the existing apps in this sector, we can separate next types of them that may help you to decide which one would you like:

  • Simple apps for tracking expenses and savings;
  • For the calculation of budget for a given period of time;
  • Credit accounts organizers that divide your spendings into categories (type, month, location);
  • Bill payment trackers or reminders;
  • Those for planning and achieving financial goals;
  • Budget planners for travelers;
  • Apps for investors with useful tips;
  • Spending habits analyzers with recommendations for reducing the expenses in the most profitable way;
  • All-in-one financial organizers which protect credit information from fraud and identity theft;
  • Money management applications with manual credit data input or not.

Define which type suits your project idea the most and move on to the next tip.

Content and design of money management app

Tip #4. User Interface & User experience

Colors, fonts, buttons’ design etc. And be careful with annoying ads, the less the better. This is a huge part of the future success of your product. A great engaging UI/UX design together with seamless screenflow of your app is a must-do for you! What we mean, is that your users should be pleased with easy-to-use and catchy UI as long as with memorable name and icon to ensure that they will stay and won’t uninstall the app.

The harder UI will be to understand the lower will be numbers of your customers, just a small warning here. So, make it simple but bright and convenient – interactive and appealing UI should represent the main goal of the app. Nothing unneeded, only strictly organized content. Every little detail matter and can make your app a winner as fast as could destroy its reputation. Pay attention when you’re choosing colors, fonts, buttons' design etc. And be careful with annoying ads, the less the better.

Tip #5. Features & Functions

What do you do when you plan to build a money management app? Of course, the first thing in mind – what the application will offer to users? What unique or super handy features are you gonna implement to complete the main task? We shall see, we guess, ‘cuz a list of some of them are right here for you.

  • Filter for transactions based on types, time of making and locations
  • Cash flow real-time tracker for all kinds of investments
  • Server backend (REST API) & Offline backup & Data Restore option
  • Multi-device synchronization & Dropbox and Google Drive sync
  • Password/passcode protection
  • Calendar & Clock & Distance tracker
  • Multi-accounts handling (including more than one credit card tracking)
  • Financial calculator for tracking income and outcome
  • Pay bills tracker with notifications/reminders
  • Ability to set up a budget limit for a certain period of time to protect user from spending more than was earned
  • Statistics for expenses should show where a customer spends most and how to reduce it
  • In-app analytic tools must provide some analysis of user’s spending habits
  • For interactive money management statistics, there should be widgets and animated graphics or diagrams
  • In-app purchasing for premium features.

And the list goes on and on... To ease this step we recommend you to write down all the features you want and then range them from most important for the app’s purpose down to the ones that would be a nice bonus for customers. Most importantly, if we may, it’s in your interests to prototype these key features and build an MVP of your app before launching or promoting it.

Why should you consider this option? Well, suffice to say, it will save you a lot of time, money and efforts while giving an opportunity to hear first feedbacks regarding your product. Those could help to further plan a marketing strategy and decide whether you need small improvements or concept changings.

Must have features in money management app

And how much will it cost to make a mobile money management app?

If you don’t mind, let us tell you that when it comes to creating such application for Android, the price highly depends on:

  • Specialists you hire for your team – location and number of developers involved in the project (their hourly rate);
  • MVP & Prototyping
  • Post-production maintenance.
  • Features and the core functionality of the future product;
  • Made right from scratch app or adapted existing solution;
  • Server backend & Third-party services integration;
  • Security & Data Protection;
  • Admin panel with powerful analytic tools;
  • Geolocation option;
  • UX/UI Design;
  • Approach to app development – native or hybrid.

To see some details about the price assessment, please, check out our post How Much Does it Cost to Develop a Dating App Like OkCupid?


As the mobile app development company, we know some useful tricks and we can put our knowledge to your service when you decide to hire us. So, please don’t hesitate to contact us right away, we’re here for you and will look forward to hearing your thoughts regarding the Money Management Applications.

You have an idea? We’ll find a solution! Feel free to get in touch and we will gladly discuss this topic further.

Kindly awaiting for your feedback!
Sincerely, TecSynt Team

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