5 Personal Finance Management App Success Stories [2024]

Pat Walls

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Updated: November 19th, 2023

Start A Personal Finance Management App

Here are some real life success stories of starting a personal finance management app:

1. Buxfer ($600K/year)

Shashank Pandit, the Founder and CEO of Buxfer, came up with the idea for the budgeting app while he was a grad student at Carnegie Mellon in Pittsburgh. He and his friends built a prototype to help students track and split expenses, which gained popularity on campus. After working at Facebook for five years, Shashank noticed that Buxfer had grown significantly and decided to turn it into a full-time job, revamping and modernizing the app. The company is now profitable with a 15-person team and aims to have a lasting impact in the budgeting app market by incorporating automated financial advice.

How much they make: $600K/year
How much did it cost to start: $50K
Current team size: 5

I Left My Job At Facebook To Go Full-Time On My Budgeting App [$600K/Year]

Bootstrapped budgeting app Buxfer, founded by Shashank Pandit, has grown organically to profitability with a 15-person team and $0 spent on marketing, targeting niche "finance power users" with strong connections to banks all over the world.

About

Shashank started Buxfer over 17 years ago

Revenue

Shashank grew the business to $50K/month

Costs

It cost Shashank $50000 to start the business

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Read by 3,797 founders

2. Well Kept Wallet ($1.2M/year)

How much they make: $1.2M/year
Current team size: 5

HOW DEACON HAYES BUILT A BLOG TO OVER A MILLION VISITORS AND $100,000 A MONTH

This case study showcases the success of a personal finance expert who has grown his business to make over $100,000 in revenue per month while helping individuals with financial assistance.

About

Deacon started Well Kept Wallet over 11 years ago

Revenue

Deacon grew the business to $100K/month

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Read by 750 founders

So... can you actually make money with a personal finance management app?

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