Financial Management Android Apps See 46% User Growth in H1 2022

Apps that let you manage your money by investing it into various assets have become immensely popular in the wake of the pandemic because of the fact that this is the sort of thing that could potentially end up helping people keep their savings intact amidst inflation and economic woes. However, apps that focus on budgeting and managing expenses are seeing even more popularity given the rising costs of goods and services in markets around the world.

With all of that having been said and now out of the way, it is important to note that apps that are built for financial management services have seen a 46% spike in users in the first half of 2022. This information comes from an analysis that was conducted by App Radar, and it reveals that many more Android users are downloading money management apps in 2022 than they were in the year prior.

A total of 6 million new users have downloaded such Android apps in the first half of 2022 with all things having been considered and taken into account. That represents a healthy 7% year on year growth rate when compared to the second quarter of 2021, and it suggests that hard financial times are forcing many consumers to use technological solutions to get ahold of their money matters.

Many apps that offer money management to users have seen their lifetime downloads double in this year alone. Chase UK has a grand total of a little over 436,000 lifetime downloads, with just under 402,000 occurring in 2022 alone.

Even well established apps like Revolut have seen incredible growth. Over 18% of Revolut’s nearly 21 million downloads came from the previous six months, and this trend holds true for every other app in this sector with absolutely none of them seeing a downward trend.

Apps related to finance and investments are on the rise, and that bodes well for the future since it suggests that people will be able to become more responsible with their money. That might help ease the economic burden that so many are under.

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