With Mint being bought by Intuit, and Intuit expressing interest in entering the Indian market and the plethora of personal finance software startups, personal finance solutions are becoming interesting area to watch out for in India. There are a whole bunch of online solutions available for consumers in US and Europe, but for India, the choices are very minimal. Mint, in particular has a pretty nice user interface, which is pretty much unmatched by the competition. Buxfer, even though it supports personal finance requirements, has way to go in making its UI better. In the indian space, TrackEveryCoin seems promising, but not launched yet. Personally, I have been searching for a personal finance solution which can suit my needs well. Here is a list of features which will get me to use one of the solutions.
Must have features:
- Automatically syncing all my bank and credit card account information
- Excellent portfolio support. A quick and intuitive way to show my net worth at a glance.
- Support for India stocks, mutual funds and insurance - Automatically fetch latest stock and NAV data and update my portfolio
- Provide ways to enter and track expenses
- Provide a desktop app for offline processing - But keep it in sync when online
- Provide a mobile client to enter expenses on the go
- Support for storing receipts - Click a snap from mobile and have it OCR-ed. Need a way to organize/browse through receipts as well
- Support for shared expenses
- Support for Income tax filing
- Allow me to work in multiple currencies
- Allow import/export of *all* data.
Nice to have features:
- Geo-tagging and analysis support
- Projecting expenses/incomes in intelligent ways
Irrespective of the number of features, usability will be the key here. Its easier said than done, though!
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