Hey everyone it's Arpit. This is for educational purposes and not financial advice in any way here I will share personal finance apps/ websites which even Ankur warikoo uses. These apps helped me a lot in tracking my finances and in financial planning and management.
Apps for financial management
.jpeg "Best Apps used for Financial management (Also recommended from ANKUR WARIKOO)")
Tracking Earnings-
1) Razorpay -
Now, first of all, let me explain to you what I mean by the best payment gateway. So in my opinion, a good payment gateway has five things in it. First, it is very easy to sign up, register, or create a new account with this payment gateway or with this platform. So basically don't need new GST or tax information to create an account you can create an account without GST and without tax information.
Second, it is very easy to set up with your eCommerce store so it is very easy to link this payment gateway with your e-commerce website.
Thirdly, it offers many payment options like credit debit cards, net banking, different payment wallets, like phone pay, Mobikwik, etc., and also different UPI payments like Google Pay beam and more. So basically, you just have one single platform one single payment gateway, and it accepts all different types of payments from a card from net banking, from wallets from UPI payment, and all different types of payment are accepted in one single payment gateway.
Number four, it has very minimum failed transactions. So the percentage of or the number of failed transactions is very minimum in this payment gateway.
Finally, point number five, it provides very easy settlements. And this is very important. In fact, I think this is the most important part of any payment gateway.
So the first point that I mentioned as it is very easy to create a new account with this system. So you just have to go to this website razorpay.com and click on sign up. Now you just have to enter your email address and after that click on sign up if you want you can also sign up with Google both options are given to you now, I think there are only two things that are required over here to create a new account one is your PAN card and another one is your bank account. So you must have a bank account and you must have a PAN card. If you don't already have a GST number that is fine you can still you can create your you can create account without a GST number and later on after one year or whenever you want you can get a new GST number whenever it is required. But you can just create a new account without a GST certificate.
You will be redirected to this page your dashboard page. Now, this is the dashboard as you can see the very simple, very beautiful-looking dashboard is given to you and you can also see all the different options as you can see your payment volume and number of payments done within this month. And after that save card payments, and all the different options you can see all the different charts and graphs, and you can also see what is the most popular payment option on your website. So most of the payment on this website is done through UPI, then wallet, then card, and then net banking. Then when you scroll down, you can see some more options. For example, if there is any failed transaction, you can click on that transaction. And you can see some more details related to this. For example, you can see the email address of that person, and you can see that this person was trying to purchase some product on your website. And they were under Payment Method, they selected phone pay wallet, and they could not make the payment. So you have the order ID and everything, you can go to your website, and check in this order ID. And after that, you also have your customer's email address and phone number. So you can now contact them and do whatever you want. Like you can contact them and tell them to place an order again. Now you can also see settlements that are done.
2)Facebook ads-
It is used to track all your spending on Facebook, and Instagram ads.
3) Google ads-
It is used to track all your spending done to run your ads on google.
Apps for Investing
1) Small case -
You can invest in different sectors of India by small cases. You will get different portfolios made by experts of different sectors and types. Even you can make your own portfolio by adding stocks to your portfolio and buying all at the same time. You don't need to make a different account for a small case, you can use your Zerodha account for small cases. Your investment can be seen in the portfolio section of the small case app.
2) Kite-
A product of Zerodha which is used to trade (buy/sell) stocks. The best product to use for stocks.
- Mi-NNf10
- Capitalmind Momentum
FOR US MARKET
1) Vested Finance-
2) IND Money
So very first thing, now, I'm not a big as investor, especially when it comes to investing in foreign companies. It was last year when I was discussing with my financial advisor, he suggested that Hirsch, you should diversify your investment to foreign stocks. So the purpose of investment is to also have a good amount of diversification, like in real estate, in gold in Indian stocks in foreign stocks, so that you mitigate the risk plus, you also take advantage of opportunities, which are available throughout the globe. And thanks to globalization, now, we have multiple platforms, which allow you to invest in foreign stocks, including a lot of startups. So very first thing, which are the platforms that you can use for investing in foreign stocks. Well, there are plenty of them, including HDFC securities accounts, but two of them, I really like. And something that you might find very interesting, is vested, which is a company based out of Gujarat. And they basically partnered with another US-based company called Dr. Wealth. So it technically you'd be buying stocks from drivers and wasted is providing you the platform to buy and sell from India, and help you with all the taxation documents so that you don't have to speak to somebody in us for all this paperwork at the end of here.
So I've invested about $17,000, which has given a return of $26,000. So far. So that's an unrealized profit of 50%, which is quite significant. And I think I started doing this almost one year back, and it is pretty amazing. Now, which kind of companies I buy, and how I buy them, I'll let you know in a moment.
Now the second platform, which is also pretty good, and works with the same partner in us, called Dr. Wealth is IND money. Now Ind money has been around for a few years. And they are becoming very popular people who are looking for Robo advisory. Now it's a SaaS platform, which means where you have to pay for a subscription, I think few of the services are free. I'm a paid user. And you can see it's for the paid user here. Now, I've started using Ind well after vestEd. And I'm hooked to this platform for all my needs, including investing in an alternate Investment Fund. Now you can invest in mutual funds, stocks, US stocks, EPF, PMS bonds, fixed deposits, and real estate, track your real estate investment, and also find AI of investment like zero the Rubicon and others. Now, I don't want to bombard you with lots of extra information. But in summary, if you want to invest in US stocks or ETF, you can use vested, or you can use Ind money. The difference is that sometimes you may not find certain stocks on a wasted platform that might be available on ind money and vice versa. For example, my recent purchase is sem rush, which is a company that I use for my SEO activity, and they recently got listed on NASDAQ. Now this company was not available on WestEd for a really long time, and they are available on Ind money. And that is one major difference that you would face when you're using either of these platforms. If you'd ask me How should which is the one platform that I should be using? Well, I'd like it more because of its simplicity. And if your purpose is only to invest in US stock, but if you're looking for an overall platform, and don't mind paying a subscription fee then Ind money could be better off shouldn't because it has everything on a single platform. And they also do help you in the tech session of your investment, which is pretty remarkable.
Now, the interesting part is how I started investing in US stocks. So as I said, my financial advisor suggested that you should diversify. And initially, I took the route of mutual funds. So there is Parag Parikh mutual fund, which invests 65% in US stocks, and I started using that route. But then I realized, you know, I understand tech companies quite well, there are many companies that I cover, talk about as my day-to-day activity companies like Cloudflare, companies like Fiverr, SEM, rush, similar web, so why not look into this companies book, and find out if I could invest in this company or not. And that's where a friend of mine needles helped me he's an analyst. And since I understand the fundamentals of a company, I understand how good their tech is, how good their software is, if they are growing, or if they're stagnant, or if they are going down, you know, like, at least, I could go watch that from the fundamental perspective. But I don't have that knowledge of reading books yet. So I take the help of this friend, and this friend, you know, takes about a day or two to read the financials of these companies. And that's how we started picking the companies that we like, and we invest our money in these companies.
And so far, it has worked out pretty solid, we pick companies like Fiverr Cloudflare, and we also let go of a few companies that did not match our criteria for investing. Now, the recent company, which is of course not financial advice, not investment advice, is sem rush, which is recently listed on NASDAQ. But again, you need to do your own research, you need to look into both finance and fundamentals, it's good to have a companion, probably somebody who can help you by looking at the fundamentals if you know, the finances, or somebody who can help you look at the finances, if you don't have those, you can find somebody online who can help you who can be your companion, maybe you both of you can brainstorm together, or maybe you can pay the guy for looking at the finances and updating you about the company growth, or company books, I know it's a long shot. But if you really want to make that life-changing money, you need to take that route. And that is how it's going to turn into a good investment. Now at the same time, of course, I'm not going to take all the credits, because the last one or two years after the COVID, things have been pretty crazy. All over the world, especially at the stock market, the market is rallying after the initial dip. So a lot of credit goes to that. And of course, at no point,
I'm not claiming that I'm a great investor. I mean, it's just been a few years since I started investing, but I am learning, and the reason I'm writing this blog is so that you could also learn a few things and you could start investing. So here are a few of my portfolio companies that have invested in, of course, not all of them are giving great results. But Fiverr has given a significant return of about 392%, which is amazing. Net is Cloudflare a company that I feel is very good for the long term given a return of one cent 5%. Shopify, I believe you all know, Shopify, which is the fastest growing drop shipping eCommerce platform, which is what I'm accumulating zoom has accumulated a bit not much as I like. And here's a message that a friend of mine actually asked me harshly once you have a conviction about a company, why don't you go all in. And I'm actually started implementing this idea. And that's how now the company that I picked based on all fundamental research and finances, I tried putting in more money than usually I used to do in the past. And something that you should be asking yourself if you truly believe in this company, rather than having 20 or 30 Different shares, why not go big on five or seven shares, which you truly believe in, it will also help you in tracking better and can help you make a great return that also it's a decent amount of diversification.
Now one very important thing you can spend about $250,000 in a year outside India for investment purposes, and this is something that you want to keep in mind. Now there are a few tips and tricks that you should know about when you're sending money to Dr. Wealth's account for investing in us stocks you have a detailed review but if you have not invested any time in US stocks this blog is going to help you get started. And you can find the link to both below if you have any questions feel free to ask me in the comment section below
FOR CRYPTOCURRENCY
1) Binance -
It is the number one international exchange for cryptocurrency. It is easy to use and just needs your pan and aadhar card to complete its KYC. Customer support is good. You will find all the top cryptocurrencies listed here. You have to use the dollar as the basic currency to trade on this platform. As of now, cryptocurrency is not fully adopted by India but you are free to trade under certain laws.
Official app link - click here
2) Wazirx -
As Binance wazirx is also a cryptocurrency exchange. But it is an Indian platform so you can trade with INR directly on this platform. As cryptocurrency is not a single nation digital asset so you will find all famous cryptocurrencies on every platform.
Official app link - click here
BUDGETING
1) Excel- You can directly use an excel sheet for your budgeting if you want to know how and why you can check my post where I have covered it in detail and provided you a free excel budgeting sheet which you can download for free
2) Goodbudget.com- It is a website that will help you to make a budget.
FOR SECURITY
1) Google Authenticator -
Google authenticator is 2-factor security used for security purposes in any application like finance apps, Facebook, Instagram, etc. It generates a code every 30 sec which you can use at the time of login to the app.
Official app link - https://play.google.com/store/apps/details?id=com.google.android.apps.authenticator2&hl=en_IN&gl=US
FOR DIGITAL PAYMENTS
1) Paytm
A basic digital payment method to transfer money digitally.
Click here for paytm app
2) Google Pay
Click here for google pay app
FOR CREDIT CARD USES
1) CRED
I am going to share my review on the credit app how you can take maximum use of this app, what this app is about, and other frequently asked questions about credit. So do like this blog and share it with your friends who likes and loves credit card. Also, let me know in the comment section how many credit card you have.
So I have more than 5-6 credit cards. And I'm using them very frequently for the last two, or three years. So cred came as a very helpful tool to me because it helps me to pay all my credit card bills at one place. So the main benefit or the main USP of credit is that it helps you to pay your credit card bill through one single app, you can have an access credit card, a credit card, you can have an SBI credit card, you can have three access credit card, you will get all the credit card at one place. And you can see what is the payable amount, like the minimum amount due and what is the due date. So it's become very easy for you to remember the due date because if you don't remember your credit card bills' due date, and you miss the date, then the benefit you get from a credit card gets wiped out. And it's even worse like you have to pay more the fines, GST and like like interest on that so it's become very difficult for people who are having more credit card to manage their credit card if they don't have credit with the credit you can easily like have the access of all your credit card in one place that is the first benefit.
The second benefit that you get is a credit card when you pay your credit card bill through credit you get credit points. So if you pay 1000 rupees credit card bill you will get 1000 credit coins so that Trade Coin can be used for cashback discounts, jackpots, and products, I'll explain to you all this one by one, so cashback how works. So, if you have one like say if you have paid a credit card bill of say 4000 rupees, you will get one correct burn of 1000 rupees. So, up to 1000 rupees, you can get cash back so, but generally, you get cash back in the range of five rupees to 10 rupees. So, you have to go and burn that you will get the option once you burn it you will get that cash back of like five rupees 10 rupees it can save up to 1000 rupees some people get, but I have never got 1000 rupees cash back and in there, there are different different types like if you pay a credit card bill of more than 5000 rupees but up till 15,000 There are different slabs. So, you get different credit one.
The second thing where you can use is you can get a discount on the products. This is generally where you can buy a voucher or discount or buy a product at a discount. In the starting when credit came. They had this offer where I can burn my credit coin to get tatacliq Voucher. So I got tatacliq Voucher of 1000 I guess 1000 rupees, I'll add the video in the eye button where you can see that video where I've mentioned how I got this bank for like 1200 or 1300 I got this so I got a tatacliq voucher of 1000 rupees approx. And the rest amount I paid with my card and this is the way you can get a discount on the product. Now the discount has reduced now it's of another type say suppose the brand is directly offering a product at 1000 rupees. If you burn a certain amount of say 10,000 5000 credit coin, you will get it at 800 rupees 700 rupees, it's not that throw away rate but prices are comparatively lower. Also apart from that if there is some destinations where like where you can plan your vacation and you'll get at it a compelling lower price with credit. Also, you can get membership like money control membership,
Coming to the jackpot thing where like you have to just press that button like you get five times or 10 times certain amount of credit coin will be born and if the like whatever condition is that that jackpot if it comes you will get that product for free or you will get a certain amount of discount or like that voucher. Also, I have already discussed the product so the credit burn is where you get the cashback and it is the best thing for credit Providing and also you can use that for the product as well, you can get your free credit card report, you have to burn your credit coin, I guess it's 5000 or 3000 red coin, where you can get your credit card report, like Sybil report which we generally say credit score, what is your credit score, you can get it for experience and curves. So that is also very wonderful, you get your credit score free of course.
Also, one point I will want to add is that if you have a credit score less than 750 I'm talking about experience code, you might be waitlisted which means if your credit score is below 750 For experience credit might not allowed you to become a credit member. So in that case, you might get a message that you are waitlisted. So apart from that credit also gives you James so like if you download this app from my referral link, you will be getting 10 gems so when you pay your credit card bill for the first time, and then you can burn these 10 gems for a cashback right now I guess they are providing minimum 500 rupees cashback maximum is 1000 rupees and 2% of the bill. This cashback ratio for the first time keeps on changing from time to time. So at the time of signup, you can check what is the cashback ratio at that time and what is the maximum capping. Also, you can check like with the help of credit if there are any hidden charges on your credit card statement, it makes you aware last month there were charges for annual fees on my American Express card credit made me aware of that charges. So if I want to talk to the bank about that charges like for waiver and if there is some interest or some other hidden charges, you can have a word with your bank. Also, credit had brought this feature where you can pay your credit card bill through credit card. So that gives you two advantages. One is you get a 30 days extra period.
Second is you get additional rewards so if you pay your rent directly to your owner or through your bank account, you're not getting any reward but if you pay your credit card bill through credit, you will get a certain amount of reward like there are different offer going on different time they have some offer with access bank. So based from time to time, they keep coming up with an offer for rent payment that helps you to get an additional grace period on additional rewards. So overall cred has been very helpful for me in managing my credit card.
Official app link - https://play.google.com/store/apps/details?id=com.dreamplug.androidapp&hl=en_IN&gl=US
