How much does it cost to build a budgeting app for the finance sector?

Standard price for a budgeting app for the finance sector: $37,500

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What is a budgeting app for the finance sector?

A budgeting app for the finance sector helps individuals or small business owners monitor their financial data in one place. Budgeting apps are designed with an easy-to-use interface so users can quickly see where they are spending money and how to manage their finances better.

Budgeting apps are similar to expense tracking apps, money management apps, and checkbook register apps. Some popular budgeting applications include Mint, Personal Capital, and Money Management Pro.

Here are some recent budgeting app for the finance sector examples built with Crowdbotics:

  • A budgeting web app with three different user types with varying permissions built for the finance industry that allows someone to see their annual salary at the beginning of the year, watch that balance reduce as they make purchases throughout the year, and see projections for what upcoming months will look like in terms of budget and salary. It also allows users to manage their retirement account, bank accounts, life insurance, care insurance, and credit score.

  • A subscription-based financial calculator and recommendation app built for the finance industry that helps users keep track of their checking and savings. Using a QuickBooks integration, it provides an algorithm that takes into account how much a user makes and spends and then recommends how much they should transfer to their savings account.

  • A neobank app for teenagers based in Indonesia that that allows parents to assign chores and review their child's account and allows child users to see the chores they've been assigned and mark them as "complete", set savings goals and budget their money, and manually enter purchases to track.

What is the typical cost to build a budgeting app for the finance sector?

A budgeting app for the finance sector usually costs $37,500 to build. However, the total cost can be as low as $25,000 or as high as $50,000. A budgeting app for the finance sector with a low number of features (also known as a "minimum viable product", or MVP) will be more affordable than an app that includes all intended functionality.

For example, here are some recent price quotes for a budgeting app for the finance sector from Crowdbotics:

  • $48,175

  • $10,000

  • $20,000

How long does it take to build a budgeting app for the finance sector?

A budgeting app for the finance sector usually takes 347 hours to build. However, a budgeting app for the finance sector can be built in as few as 67 hours, or in as many as 964 hours. The exact timeline mostly depends on how complicated your app is. As a general rule, it will take longer if you require highly custom designs, niche features, or non-standard release platforms.

For example, Crowdbotics produced the following recent hourly estimates for a budgeting app for the finance sector:

  • 642

  • 133

  • 267

How to successfully grow your budgeting app for the finance sector

Organizations within the finance sector are often looking for budgeting apps that can help workers streamline their finances. A budgeting app is likely to attract users who are already using other financial apps, but it may also attract users who have never used any financial apps before. A budgeting app needs to be easy to use and provide value to both new and existing users. Features that might increase a budgeting app's adoption among finance professionals include real-time notifications, customized trading algorithms, and intelligent portfolio analysis.

Risks and challenges of building a budgeting app for the finance sector

A budgeting app for the finance sector needs to ensure that it meets capitalization standards appropriate for the behavior of sophisticated traders, and it is often recommended to leverage secure third-party payment processing APIs for transferring money. The most important risks for a budgeting app are the potential violation of consumer protection laws and the mishandling of sensitive financial data.

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Some of the descriptions on this page were completed with AI assistance. Learn more here.