Personal Finance Industry

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Personal Finance is the element of finance and it’s an individual ability to take monetary decision. It is all about budgeting, saving and spent money over a period of time considering the fact of financial risk and future events.
Income, savings, loans, investments, tax management, retirement plans benefits and etc. are all the mechanism of personal financing, therefore the need of personal finance management increasing and due to the increase in demand the industry is also growing.

Personal finance is all about self-management and setting up goals. There’s never been a shortage of temptations but sticking up to the budget is more important that’s why the personal finance industry is evolving every day from free to use applications to free finance software.
Due to the rise in technology and startups investment in fin-tech sector is increasing, technology based companies are taking over the old tradition method of financing and budgeting. Mobile apps are one of the key elements which are making lives easier. According to Statista USD267, 106M transactions value has been recorded in the personal finance sector, the highest value of transaction is being recorded in China which is around USD143, 409M. Moreover investment in fin-tech sector rise up to $4 billion in the third quarter of 2017. PwC report data shows that fin-tech startups funding has increased at a compound rate of 41% in the last four years and secured over $40 billion in investments.

Personal finance management is the key concern nowadays but thanks to technological solutions which helps people to manage their finances more easily. These tech gadgets is not going to make any one rich though it is all about managing the one’s money in a most effective and appropriate manner and having the knowledge of each and every transaction in order to educate people more about money management and set up goals according to their needs.

Top Personal Finance Apps

There are number of apps in the market which make it easy for the people to manage their finance set goals, track expenses and save money. These are the top personal finance apps 2015 by Business Insider.
1. Mint by Intuit is one of the top personal finance applications available in the market. It is a real time app it updates all your account in real time as long as you are connected to the internet, the app also automatically categorizes all your transactions, notify about bills and budget. Mint is also available on Web. Available on Android/iPhone.

2. Level Money is the mobile money meter, the app helps individuals about their daily spending and how much they can spend in a day, it provides day to day solutions to those who have very complicated structure of finance. The app mostly focuses on those who live on daily wages. Available on Android/iPhone.

3. Digit is a saving app which helps users to automatically save money. The app automatically scans person spending and transfer a small amount to savings account. An app is for those who really want to save but can’t save. Available on Android/iPhone.

4. Good Budget a time tested budgeting app which allow users to create different books into each categories and define budget for each book. The overall allocated budget can be tracked easily that how much the user is spending from each book in each category. Good budget is simple and easy to use application. Available on Android/iPhone.

5. Wally an app to track all your expenditure in a timely manner you can view your transaction on daily, weekly and monthly basis. The specialty of Wally is that it automatically input all the details from the purchase receipt all you have to do to scan the receipt. It is an app to easily balance your income and expenses. Available on Android/iPhone.

Due to hundreds of startups happening all around the world, like rest of the countries Pakistan is also in that race of startups and competing in international forums. Just like the rest of the world Pakistan also investing in the fin-tech sector and the increase number in mobile subscribers have made possible for the startups to grow. There are plenty of startups in Pakistan who have the potential to dig out the big market share not just even in Pakistan but overall in ASEAN sector.
There are multiple startups which are trying to bring change in the society making lives easier for people and providing value in their product. Businesses in Pakistan are also focusing in the area of fin-tech in order to provide much better and reliable financial services to the community likewise many Technology firm aims to focus on personal finance management from spreading financial literacy to spending patterns.

Hysab Kytab

Jaffer Business Systems (Pvt) Ltd. is one of the leading and reputable technology companies in Pakistan providing high tech solutions to its customers and solving challenges in a creative way. The company also focused on promoting the startup culture and brings latest technologies and products into the market.
Hysab Kytab is one of the personal finance management application developed by JBS. It is a smart budgeting app which allows its users to smartly manage all of their personal finance in one place. The app lets its users to set up a budget in different categories, track their expenses on daily basis, view spending pattern with different breakdown categories, analyze spending patterns through interactive charts. Apart from the categories the overall budget can also be tracked easily plus it also automatically alerts the user when the budget exceeded.

App Features:

  • Set and track monthly budgets
  • Add day to day expenses and supervise it accordingly
  • Create savings goals

Hysab Kytab is a perfect money manager application available in the market. It is a tool which sets you free from all those money management hectic and save your time. Now your whole budget is at your fingertips.

By : adminTags: budget expense hysabkytab personalfinance save

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How to set a budget?
To set budget to pfm, tap on budgets then tap on ‘’create new’’ budget button. You can choose category and allocate amount for budget.
How to add a new transaction?
To add new transaction, you can tap on plus button (bottom), select transaction type, add amount, select category, select account, to add detail (optional) you can add description, tags, location, receipt etc. In case of recurring transaction set time interval.
How to filter out past transactions?
Tap on filter icon to filter out / sort transactions by category, amount and transaction type.
How to set saving goal?
To set saving goals with hysabkytab tap on create new option, name your goal, add amount, set target date, add tags (optional), choose icon (optional), tap on create saving goal option.
how does tag work in hysabkytab?
Tags work just like a sub-category in hysabkytab. For example, you added an expense transaction for rs.350, category (transport), account (cash) and you added a tag name (uber). Now you can search through your tag. To search, tap on history, tap on search bar, type your tag name (uber)
How to change personal accounts into income and expense accounts?
New hysabkytab has person account only for lending and borrowing. You can change your previous personal account into income and expense accounts. For that create a new cash account with same name, but don’t enter balance, then make a transaction of transfer (from old account to new account with initial balance).
Why hysab kytab asks for camera access?
Certain features in hysab kytab requires access to your camera/gallery for example if you want to attach receipts with transaction, or you want to post sale alerts, in those scenarios you are required to give access to your camera/ gallery.
Why hysab kytab asks for my location?
When you try using the feature of adding place to your transactions, the app requests your permission to give access to location services. If you allow the app to access these location services, you will be able to see what places you are spending your money at.
How to change a currency format?
You can adjust decimal according to your need, to change currency format, tap on left drawer (top left), tap on setting, tap on currency format (change by scrolling down)
How does reminders work in hysabkytab?
You can set reminder for any type of transaction. To set reminder, tap on left drawer, tap on reminder, tap on add button, set type, title, time, interval, date.
How to change time interval?
To change time interval, tap on money, tap on calendar icon (top right), change interval according to your choice002e
How to set 4-digit passcode?
To add extra layer of security, you can set 4-digit passcode on your hysabkytab app, to set 4-digit code, tap on left drawer, tap on setting, tap on security, set 4-digit pin.
How to create a backup on hysabkytab?
To take backup, tap on left drawer, tap on setting, tap on backup, you can either take backup on your device or google cloud.
After changing phones, how do i transfer my data from one phone to another?
you will have to create a backup on your google cloud from your old phone. If you are logged with the same google account in your new phone, you can restore the data from your google drive. Once restored, all your data will be retrieved automatically.
Cross platform backup
Hysabkytab does not support cross platform backup, you can only restore android backup to another android device only.