A PFM or personal finance manager is a technological tool that helps people maintain healthy finances through different strategies. Among the benefits of using a PFM in personal finance management are:

• It organizes all finances automatically.
• It allows knowing how much money can be spent without affecting the budget.
• Helps create financial goals and save for recurring payments.
• Offers personalized alerts.
• Provides a clear view of overall financial health.

With a PFM you can take control of your money in a simple way and have an overview of your finances through easy-to-understand graphs. In addition, you can unify all your financial needs in one place, including external accounts. Automatic expense categorization that can be filtered, edited and divided into different expenses allows you to have control of expenses and savings through personalized budgets. You can also receive savings tips for each type of expense and plan and track goals.

PFMs have several benefits for both end users and financial institutions. Companies that implement this type of tool are likely to increase their sales by 4% to 25%. In addition, PFM users are more loyal with an average retention rate of 99%.