Top 5 Personal Finance Apps in Australia Q4 2020: A Sensor Tower Analysis

As we wrap up the fourth quarter of 2020, Sensor Tower provides a clear picture of how personal finance applications have performed on a unified platform in Australia. Here's an overview of the top five budgeting and planning apps that have made their mark during this period.

Splitwise, a popular tool for splitting expenses, saw a consistent trend in weekly active users, growing from 15K in late September to nearly 20K by the end of December. Downloads followed a similar upward trajectory, peaking at approximately 5K in the last week of December. Revenue for the app fluctuated throughout the quarter, with notable spikes in mid-November and late December, reaching highs of over $1K.

WeMoney: Pay off debt faster focused on helping users tackle debt, and although it did not generate revenue during this period, the app experienced a steady increase in downloads. Starting at under 1K downloads in the last week of September, the app surged to over 2K downloads by the year's end.

MoneyBrilliant, an Australian-based app, showed a remarkable revenue climb from $2K to $3K in the last week of December. The download count for MoneyBrilliant also saw a significant rise, jumping from around 2K in late September to over 2K by the end of the quarter.

Pocketbook - Expense Tracker remained a steady contender in the market, with weekly active users starting at approximately 14K and slightly increasing to over 14K by December's end. The app's downloads saw a notable increase in the latter part of the quarter, reaching close to 2K in the final week.

WiseList, despite not generating revenue, saw a dramatic jump in downloads from around 1K in September to nearly 3K by the end of December.

For more detailed insights and data, Sensor Tower's platform provides an in-depth analysis of the app market performance. These top five apps have shown resilience and growth in the Australian personal finance sector, with clear trends in user engagement and downloads as we move into the new year.