Finance application, helping in managing money or encouraging to spend more?

A good finance application or fit to use application will a combination of the following features:

1.  Fit for purpose

2.  User friendly interface.

3.  Easy to understand and Adjust.

4.  Time saving 

5.  Finacially Prudent.  in this last point, it must be seen by management as an application of which value gained for acquiring it out-weighs its cost.  if management sees otherwise, then it is not helping it to manage money rather encouraging to spend more.

Thanks for invitation,

I do believe Both, it depends on the activities of the financial applications' owner and the main perpose of the application itself.

Basic purpose of a Finance application is to help in making ease to manage the Finance transactions that is managing money. Until the purpose is not achieved management will be enthusiastic more in search of that Finance application which fulfil that purpose. After the purpose is achieved encouragment in spending more money is i think not beneficial to the Shareholders, so after this spending more is waste of money and time. As the time is money.

Global downloads of finance apps hit3.4 billion in - that’s per cent more than three years ago, says Silicon Valley analytics company App Annie.

Their popularity is growing fastest in emerging-market countries, such as Brazil, India and Indonesia. And making it easier to send money to other people seems to be a major reason for their popularity in these countries.

The world’s three most downloaded money apps in – India’s Google Pay and PhonePe, and China’s Alipay – as well as China’s WeChat, all focus on money sending as a core function.

In the US, per cent of to-year-olds use finance apps, mostly to track spending and pay bills.

As personal debt levels continue to rise around the world, it seems money apps can cut both ways.

They can make us more aware of how much we’re spending and what on, helping us to stick to a budget, but the convenience of contactless payment could also be encouraging us to spend even more.