4 smart money management apps to help you invest in your future
- Planto, gini, Chloe and Mellow – the financial equivalent of fitness trackers – can act as digital financial advisers
- Survey shows 43 per cent of people born since the 1990s save less than 10 per cent of their monthly income, while one in four spend all of it
Society has become so concerned about achieving peak personal wellness that millions of us rely on technology to record the minutiae of our daily habits.
Money management apps can be the financial equivalent of fitness trackers. Beyond budget planning and setting savings goals – handy as such functions are for many people – these intuitive, artificial-intelligence (AI) -enabled apps can be a digital financial adviser helping the user to build their wealth.
Planto, an app developed by a Hong Kong start-up of the same name, can help graduates start planning their financial futures from their first monthly salary.
Ankit Suri, Planto’s co-founder and CEO, says the app was developed to help Asia’s 600 million millennials manage their money in an expensive city.
The bilingual app (in English and Cantonese), launched last October, already has 70,000 users – more than 3 per cent of the city’s millennial population.
The suspicion that many Hongkongers struggle to organise their personal finances is supported by a survey by fintech start-up, gini, which shows that 43 per cent of people born since the 1990s save less than 10 per cent of their monthly income, while one in four spend all of it by the end of every calendar month.
