Technology: 4 apps for the smart investor
Apps that'll help you manage your expenses wisely, learn about bulls and bears and stay in sync with the latest summersaults in stocks
Track your wealth
A key ingredient for smart savings or wealth management is keeping an eye on your expenses. Unlike other expense managers, Gullak analyses your text messages automatically for all transactions, including withdrawals, deposits, shopping, pending bills and payments, etc, to make an expense report.
Its big draw is that it can differentiate between transactions originating from different accounts/cards, listing them accordingly. The UI is easy to follow, and it offers complete freedom to edit/create new categories of expenses as well as add cash transactions manually. The only concern is the privacy and security of users in giving away details about financial transactions to an app, especially when it will be sharing information to third-party apps and businesses. Still, it comes handy.
Log on to: Gullak.co
Available on: Android OS, Blackberry, Windows, iOS and as web service
>> Worried about your privacy on Gullak, try GNUCash, a free expense manager. But one is required to manually update each transaction.
>> If you are sharing an apartment, try Splitwise to keep a track of your expenses and split them with roomies.
Learn about finance
Learn how to predict currency rates using the new game, ForexHero. Developed with a goal to impart training on currencies, the factors that affect them, and explain the technical terms associated with it, ForexHero is a great app for beginners to gain some insight on foreign exchange trading.
You start with online schooling, learning the basics of foreign exchange trading. The app covers most of the topics that you need to begin trading along with a simulator (a trend predictor) where you practise your skills. Also, offered are details about institutions and people to follow to make informed decisions, and the common mistakes that people make during currency trading. Though most of the text is written keeping the European Union in mind, even Indian investors will benefit from the game.
Log on to: Gullak.co
Available on: Android, iOS
Log on to: ForexHero.eu
>> Investopedia (break through the jargon of the financial word, and understand various instruments of finance via this special website)
>> SparkProfit (to learn how to predict the behaviour of financial markets such as currencies, commodities, stock indices and Bitcoin in a simulator. And if you do it right, you can predict correctly, and earn some actual cash too)
Invest from your phone
If you have FundsIndia account, you can download the app from Play store, and start investing right from your phone. The app offers a personal dashboard to help you select from Mutual Funds, stocks, fixed deposits as well as gold purchases under the FundsIndia app.
Available on: Android and as a
Log on to: Fundsindia.com
>> Investmenz.com (allows you to track markets across sectors including metal indices and currencies)
>> Depending on your fund manager or broker you have already subscribed to, official app of the fund manager can be very useful.
Follow the market
Whether you are newbie at Dalal Street, or a seasoned stock player, you’ll love the live feed offered by Investing.co, now available on app.
Follow international stock exchanges, market news, indices and stock prices across categories right on your phone using the app. Also, make your own portfolio by adding your favourite stocks, equities and more and keep a close eye on your investments. You can also read about market analysis, comment and views from the top analysts to make informed decisions.
Cost: Free (with ads)
Available on: Android, iOS and as a Web service
Log on to: Investing.com
>> Equity Master for news, views, analysis and comments on the Indian stock market across sectors. You can also add your favourite stocks and track them separately using the app.
>> Apps like BSEIndia, NSEMobile and Yahoo Finance help track the latest changes and trends in stock prices. You can also create your portfolio of stocks and follow their performance.
App review: Master the stock exchange (Read more)