In today’s fast-paced world, finance management is one of the most important aspects of daily living. There are numerous ways to manage our money; from keeping track of expenses to making worthwhile investments. Of course, the world has gone digital, so everyone carries their finances around in their pockets, running things on the go with mobile apps.
However, with so many finance apps on the market, choosing one rightly suited to your needs can seem like a gargantuan task. In this article, we'll go over why you need to carefully select the right app, as well as how to cut through the clutter and find which finance app is right for you.
Why is choosing the right finance app important?
Everyone has different priorities, incomes, and expense categories. Thousands of apps cater to a wide range of needs and responsibilities. If care is not taken when choosing the app you need, you’ll end up with a cluster of apps that can barely cover your needs. That’ll only take up your space, waste your time and put your personal information at risk.
How to avoid that? We’ve curated some tips for you to help you select the best finance app for your needs. Keep reading to find out.
How to choose the right finance app
Let’s go over some tips you must consider when choosing an app to manage your finances.
Define your goals: The first step in choosing the best finance app is determining your financial objectives. Do you want to save money? Keep track of your spending? Invest your money? Or get out of debt? Different finance apps cater to various financial goals, and it is critical to select an app that aligns with your objectives.
For example, if you want to get out of debt, you’ll need an app that allows you to make regular payments, and possibly schedule them. Similarly, if you want to track your spending, look for an app that allows you to analyze your purchases. If you have family overseas, or you travel frequently, you’ll need an app that allows you to process cross-border transactions easily. Leatherback allows you to do all these, and more.
Consider the app's security features: Finance apps deal with sensitive financial information, so make sure your chosen app has strong security features. It is also critical to review the app's privacy policies and understand how your data is used and safeguarded. Being regulated is also a huge advantage. Leatherback is licensed and regulated across Nigeria, the UK, Canada, and Ethiopia. So you know your funds and your information are in safe hands.
Evaluate the app's user interface: A user-friendly interface is critical when it comes to finance apps. A complicated interface can make it challenging to navigate the app and access the features you need. Look for an app with a clean and intuitive interface that allows you to easily access the features you need. You should also look for an app that offers customization options, allowing you to tailor the app to your preferences.
Check the app's reviews: You also need to read user reviews before downloading any finance app. Look for reviews on both the app store and third-party review sites. Reviews can help you determine the app's strengths and weaknesses and help you decide if it is a good fit for you. Here’s a review of Leatherback published by a leading voice in the business and economy industries in Africa – Ventures Africa.
Consider the app's fees: While some finance apps are free, others may charge a fee for their services. It is crucial to understand the app's fee structure and evaluate whether it aligns with your financial goals. For instance, if you want to own some types of corporate accounts on Leatherback, you may need to pay a fee. However, if you want to get an individual account, you will not need to pay any fees.
Look for additional features: Some finance apps offer additional features to help you manage your finances more effectively. For instance, Leatherback offers budgeting tools that allow you to track your finances and study client-based analytics, which many of our corporate clients find very useful. Evaluate the additional features offered by the app and determine if they align with your financial goals.
Consider the app's compatibility: Compatibility is essential when it comes to finance apps. Look for apps that are compatible with your device's operating system. Some apps may only be available on iOS or Android, while others may be available on both platforms.
Want to get started?
Choosing the right finance app will do wonders in managing your finances, processing your transactions, and optimising your time. Study the tips, take your time, and weigh your options, you’ll come out with the perfect decision! If you already have your heart set on Leatherback, we’ll be delighted to have you as one of our nomads. Click here to begin your journey!
