2020 is an ideal time for service-based app development. With the pandemic keeping people at home and having a major financial impact on so much of the population, everyone is looking for ways to automate their everyday tasks and manage their money more effectively with less effort.
A great personal finance app can help with both. But how do you get started?
Unless you are experienced in the world of app development, it is likely that, while you have a great idea for an app, you are not sure how to build a personal finance app, but the steps below should help you get started.
What Do Personal Finance Apps Do?
The primary function of most personal finance apps is to help the user manage their budget. Most of these apps have the following features:
- Track user expenses and income
- Easily plan a budget and check savings balance anytime
- Make payments to service providers
- Save or make money
Before you do anything, you want to really think about what features you want your app to have – you can always add to this later, but it will make your job easier if you have a basic framework in your head before you get started.
Before you can start on the actual app development, there are a few things you need to do.
First, be sure that your app idea will solve the current problem that other personal finance apps are missing. If you want your app to be successful, it should have a unique feature that sets it apart from the competition. Write or type a brief summary; this helps solidify your idea.
Second, you need to do some serious research! You need to know as much as you can about the other personal finance apps on the market – this means both testing the apps yourself and reading as much customer feedback as you can find. What features do other personal finance apps offer? What do their customers have to say about them? What does their layout look like? How is the user experience?
It is recommended that you keep track of the answers to these questions so you can look back on this information when you start the design phase.
Once you have a basic plan for your personal financial app, and you have done your research, it is time to start sketching out a basic design and layout. If you are not comfortable doing this step yourself, it may be time to consider partnering with an app development team that knows how to build a personal finance app.
For the first-time app creator, partnering with an app development team is probably going to yield better results than hiring a single app coder. An experienced development team should be able to assist with everything from design to launch and provide ongoing support as needed. Just be sure the team you choose has experience developing the type of app you are creating.
This should be enough information to get you started on the road to turning your personal finance app concept into a reality. Remember, the planning and research stage is just as important as the app development itself, so take the time to get it right. Good luck!