How to Create an App and Make Money
Tags: finance, developing, technologies
Published: 2021-03-26 14:05:23

# Creating a Financial App: How to Develop a Popular Product and Make Money
Technological progress allows people to delegate more and more responsibilities to devices. Started from physical labor, it spread to management, calculations, and other time-consuming tasks. Do you want to earn on this tendency? Try to create your application - now nearly half of users prefer their gadgets to computers. Smartphone programs are a wide sphere you still can make money on. 
Whether you create an [instant loan app](https://play.google.com/store/apps/details?id=com.cash.advance.payday.loan), video game, or educational service, there are common rules and principles to follow. Get to know what programs become extremely popular this year, and how to make one on your own. 
How to Develop It By Yourself
Having the same terms and schedule with large developers, you still won’t achieve their opportunities - working independently is much more difficult. 
However, if you’re ready for difficulties, maintain this guide: 
1.Decide On An Idea 
At first, organize a brainstorm and decide the main concept. What will your product do? What problems and tasks can it solve? Is it an entertaining project or work assistant? Write down all thoughts and come to a conclusion. 
2.Do Research
Learn the sphere and your rivals - can you make something really new? Then, determine your target audience to realize what they need. 
3.Plan the Work and Delegate Duties 
Establish a strict plan of what you’ll need and find experts. It may be a designer, IT-specialist, copywriter, even a psychologist. However, if you cannot afford a team, there’s always an opportunity to manage the project independently. 
4.Work on Your Own? Use App Builders 
If you never tried developing before, use special programs. Builders allow ordinary people to understand all mechanisms and create a simple product. 
5.Design 
Pay attention either to UI and UX aspects - the first one determines colors, graphic elements, and other visual moments. UX means “user experience” - here you work with the interface and make it comfortable for customers. 
6.Test and Release 
Examine all parts and try to use the service before releasing it. Check all buttons and functions and make sure it works properly. 
##What About Financial Software 
Payday loan apps, personal finance software, and other devices facilitate cash management among users. More and more Americans prefer to use smartphones to get financial help instead of going to the traditional bank.
Due to this payday affiliate programs have become so popular. And making an app that will generate leads is a profitable idea and a good business start.
Searching for [bad credit loans](https://personalmoneyservice.com/bad-credit-loans/) customers often use their smartphones - it’s faster and easier than websites on the desktop. And your app can be a useful tool for these people. Moreover, you can turn to the financial educational sphere, or help people in keeping the budget. Just identify what topic is the most suitable and interesting for you, evaluate all pros and cons, count an expected income, and choice is up to you.
##Programs on Financial Literacy 
While the loan app only gives money, educational platforms are made to teach people and make them treat their budgets smartly. 
[Surveys show](https://gflec.org/wp-content/uploads/2015/11/3313-Finlit_Report_FINAL-5.11.16.pdf), even highly developed countries like the US, the Scandinavian region, and Australia cannot boast a 100% of financially literate society. We still need support in learning finances.

*Why not use technologies for that?*

You can develop a collection of useful materials, provide new articles, or gather economists to consult the users in daily issues. How to turn it into the source of income? Use ads or provide free and paid plans: premium tariffs usually give the access to the most useful materials or personal consultations. 
##Loan Services
If you want to earn some cash, a loan app can be a great decision. 
Each year, [more than 12 million Americans take payday credits](https://www.mycreditsummit.com/payday-loan-debt-statistics/). The demands have especially risen during the crisis, and the number of companies is increasing almost every month. The problem is, how can an inexperienced person choose the right service? 
A developer serves as a mediator here: 
* The service gathers several private lenders through the Internet and cuts the agreement with them. 
* Looking for a loan, the user downloads the app and uses it as a search engine: enter the data and the needed amount of money.
* The algorithm finds the right lender for their case, and helps the borrower and creditor contact each other. 
As a mediator, you’ll earn the commission. Each successful deal will give you a small amount of money - imagine how profitable it can be with massive traffic. 

##Budget Tracking Service

*“Technology changes quickly, and so do user’s expectations of how their software should work,”
— Ron Novak, executive vice president for Segue Technologies Inc.*

In 2021, the digital sphere tends to facilitate people’s lives. Busy with their problems, users delegate their duties to the programs. As an example, services for budget tracking help to monitor cash flows and assist in loan management. 
Unlike money loan apps, these services don’t manage people’s finances but give them a picture of expenses and savings. Talking about the development, this variant is the hardest. You’ll need access to customers’ cards, credit history and score, and other papers.
Another issue is to build trusting relations - the user won’t give private info to an unknown program. 
Here you can earn on ads, or offer special functions as a premium version. Usually, they include:
* Stock market forecasts;
* Information on investments;
* Educational materials; 
* Saving programs.

Creating a new app isn’t a piece of cake. The market is overwhelmed with new programs and formats of financial support - don’t expect easy money. If you still want to put your hand in this sphere, define what type of service you need. Discover how to make it work. Only after that, discover how to monetize your work and make it a passive source of income.