My wife asked me a simple question in 2018.
“How much did we spend on eating out last month?”
I opened my HDFC bank statement. Scrolled through 47 transactions. Tried to mentally add up Swiggy, Zomato, restaurants, cafes.
Gave up after 10 minutes.
“Around 15,000 I think?” I guessed.
She wasn’t impressed. “You worked at tech startups for 15 years and can’t track basic expenses?”
Fair point. I had worked at places like HappyFox and Druva. Built marketing systems. Tracked every metric that mattered.
But my own money? Total blind spot.
That’s when I started looking for apps that actually helped track spending. Not just show transactions.
I found Niyo and Jupiter around 2020. Both promised smart expense tracking.
I’ve been using both for nearly four years now. My elder son uses Jupiter. I use Niyo for travel expenses.
After tracking over ₹40 lakh in expenses across both platforms, here’s what actually works.
What is Niyo for Expense Tracking?
Niyo started as a travel focused fintech in 2015. They built their reputation on zero forex cards.
But expense tracking? That came later. And honestly, it’s basic.
I got my Niyo Global card in 2019. Mainly for international travel to avoid forex charges.
The app shows your transactions. Categorizes them automatically. You can see spending by category.
That’s about it.
No deep insights. No spending trends. No alerts when you overspend.
It’s functional. Gets the job done. But nothing special.
I use Niyo primarily for one thing. Tracking my international spending separately from domestic.
When I travel, every transaction is on Niyo. When I come back, I know exactly what the trip cost. Clean separation.
Similar to how I manage money across countries, keeping travel expenses separate helps with budgeting.
Quick note: If expense tracking is your main priority, Niyo might disappoint you. It’s built for forex savings, not expense intelligence.
What is Jupiter for Expense Tracking?
Jupiter launched in 2020 with expense tracking as a core feature.
The founder, Jitendra Gupta, previously built Citrus Pay. He understood that people needed better spending visibility.
I opened my Jupiter account in early 2021. Took 8 minutes.
The expense tracking impressed me immediately.
Automatic categorization. Monthly spending reports. Comparisons with previous months. Alerts when you’re overspending.
My younger son got his first salary in 2023. Put it in Jupiter. Within a month, he knew exactly where his money was going.
“Dad, I’m spending 18% of my salary on food delivery. That’s crazy.”
He cut it down to 8% next month. The visibility alone changed behavior.
That’s the power of good expense tracking. It’s not just data. It’s actionable insights.
When you’re planning finances after moving back, understanding spending patterns is critical.
Head to Head Comparison
Let me show you what matters for actual expense tracking.
| Feature | Niyo | Jupiter |
|---|---|---|
| Automatic Categorization | Basic (10 categories) | Advanced (25+ categories) |
| Monthly Spending Reports | Yes, simple list | Yes, detailed with charts |
| Spending Trends | Not available | Shows month over month trends |
| Budget Setting | Not available | Available per category |
| Overspending Alerts | Not available | Yes, customizable |
| Transaction Search | Basic keyword search | Advanced filters (date, amount, merchant) |
| Merchant Recognition | Often misses merchant names | Accurate 90% of time |
| Split Expenses | Not available | Available with friends |
| Export Data | CSV download | CSV and PDF with charts |
| Visual Analytics | None | Pie charts, bar graphs, spending timeline |
Sources: Niyo app features, Jupiter app features, personal usage data
The table shows the gap clearly. Jupiter is built for expense intelligence. Niyo is built for transactions.
Last month I spent ₹42,000 through various cards and accounts. Wanted to see my complete picture.
Jupiter showed me I spent 32% on groceries. 18% on dining. 12% on fuel. 10% on subscriptions. Rest scattered.
Niyo? Just showed me the Niyo card transactions. About ₹8,000 total. No context. No insights.
What this means: If you want to actually understand your spending, Jupiter is in a different league.
Feature Breakdown for Tracking
Let me dive deeper into what actually helps track expenses daily.
For Niyo:
What works:
Clean transaction list. Easy to scan through what you spent.
Foreign currency transactions show both the foreign amount and INR amount. Helpful for travel expense reports.
You can download statements as CSV. Good for tax filing or reimbursements.
What doesn’t work:
Categories are too broad. “Shopping” includes Amazon, grocery stores, and clothing. No way to separate.
No way to set budgets. You can’t tell the app “I want to spend maximum ₹10,000 on dining.”
Manual tagging isn’t possible. Sometimes I want to mark a transaction as “business expense” or “gift.” Can’t do it.
For Jupiter:
What works brilliantly:
The categorization is smart. It learns over time. Initially put some transactions in wrong categories. After a month, it was 95% accurate.
Spending insights appear as notifications. “You spent 25% more on entertainment this month.” Makes you aware in real time.
The Pots feature lets you set money aside for specific goals. I have pots for vacation, emergency fund, and gadgets. Helps with planned spending.
Bill reminders. Jupiter tracks your subscriptions. Reminds you before Netflix renews. Before broadband bill is due.
What could improve:
You can only track Jupiter transactions. Can’t link other bank accounts for complete visibility. INDmoney does this better.
No receipt storage. Some apps let you attach photos of bills. Jupiter doesn’t.
The insights are mobile only. No web dashboard for detailed analysis on a bigger screen.
Think of it like fitness tracking. A basic pedometer (Niyo) versus a Fitbit with heart rate, sleep tracking, and coaching (Jupiter).
“I check my Jupiter spending report every Sunday morning. Takes 2 minutes. Tells me if I’m on track or need to course correct for the week.”
My Real Usage Pattern
I use both apps. But for completely different reasons.
Niyo is my international spending tracker. Period.
Every international trip, I load money on Niyo. Use only that card abroad. Come back and download the statement.
Clean expense report for the trip. No mixing with domestic spending. Perfect for reimbursements if traveling for work.
I spent 12 days in the USA last year visiting my son. Total trip cost tracked perfectly on Niyo. ₹2.8 lakh. Every dollar accounted for.
Jupiter is my daily expense intelligence tool.
My salary account is still HDFC. But I transfer ₹50,000 to Jupiter every month for daily spending.
Groceries. Dining. Entertainment. Fuel. Everything goes through Jupiter.
End of month, I know exactly where that ₹50,000 went. No guessing. No spreadsheets.
My wife doesn’t use either app for tracking. She prefers her ICICI account and manually maintains an Excel sheet. Different generation. Different comfort levels.
My elder son uses only Jupiter. He’s 20. First job. Lives by the spending insights. Cut his unnecessary expenses by 30% in six months.
Think of it like email. You have different email accounts for different purposes. Personal. Work. Spam. Each serves a function.
Which One for Expense Tracking?
The honest answer is clear. Jupiter wins easily.
But let me break down when each makes sense.
Choose Niyo if:
You only want to track international spending separately.
You don’t care about insights or analytics.
You just need a clean transaction list for tax filing.
You already use another app for detailed expense tracking.
Your main priority is zero forex charges, not tracking.
Choose Jupiter if:
You want to genuinely understand where your money goes.
You want to set budgets and get alerts.
You need spending trends and month over month comparisons.
You want an app that helps you spend smarter.
You’re building financial discipline.
I recommend Jupiter to everyone who asks about expense tracking. No hesitation.
Use Niyo if you travel frequently and want to separate those expenses. But not as your main tracking tool.
My younger son recently asked which app to start with for his first job. I said Jupiter without thinking twice.
Quick summary:
Jupiter is purpose built for expense intelligence.
Niyo tracks transactions but offers minimal insights.
Your goal determines what you need.
For serious expense tracking, Jupiter is the clear winner.
Combining both gives you best of both worlds.
The Behavioral Change Factor
This is what most people miss. Good expense tracking changes behavior.
When I started using Jupiter in 2021, I thought I was spending about ₹15,000 monthly on food.
The app showed me ₹28,000. Almost double.
I was shocked. Started paying attention. Cut unnecessary food delivery. Meal prepped more.
Three months later, down to ₹18,000. Saved ₹10,000 monthly. ₹1.2 lakh annually.
That’s the real value. Not just showing data. Driving action.
Niyo never did that for me. It’s passive. Shows what happened. Doesn’t prompt change.
Jupiter is active. Nudges you. Compares you to previous months. Gamifies good financial behavior.
My son earned “Saver” badges when he stayed under budget for three consecutive months. Silly? Maybe. Effective? Absolutely.
When you’re managing finances as a returning NRI, building good money habits matters more than just tracking.
What Others Are Saying
I asked in my BackToIndia Facebook group. Got 54 responses.
Jupiter users loved the insights. Common praise: “Finally understand where my money goes.”
Niyo users appreciated the simplicity. Common feedback: “Does basic tracking well. Perfect for travel.”
Several people mentioned they use Jupiter for daily tracking and Niyo just for international trips. Same as me.
One interesting pattern. People under 30 heavily favor Jupiter. People over 40 are split between wanting simplicity (Niyo) versus insights (Jupiter).
Age and tech comfort definitely play a role.
If you want more real experiences or have specific questions, ask in the BackToIndia Facebook group. Over 5,000 members sharing fintech experiences.
The Complete Picture Challenge
Here’s where both apps fall short.
Neither gives you a complete financial picture across all accounts.
I have money in HDFC. ICICI. Jupiter. Niyo. Vested for US stocks. Groww for mutual funds.
To see my complete expenses, I need to check multiple apps. Or use a portfolio aggregator like INDmoney.
Jupiter is working on linking external accounts. Not there yet as of November 2024.
Niyo has no plans for this. They’re focused on their core travel value proposition.
If you need complete visibility across all accounts, neither app solves that alone.
You’ll need to either consolidate everything into one platform or use an aggregator.
When planning your financial life after returning, this fragmentation is real. Plan for it.
My Honest Recommendation
Get Jupiter if expense tracking matters to you.
The app is free. Takes 10 minutes to set up. Start routing some expenses through it.
Use it for a month. See the insights. You’ll probably love it like I do.
Keep Niyo if you travel internationally often. The zero forex markup saves thousands. The basic transaction tracking is a bonus.
But don’t expect Niyo to give you spending intelligence. That’s not what it’s built for.
Together, they cover 80% of what most people need. Jupiter for daily awareness. Niyo for travel efficiency.
The remaining 20%? Use a spreadsheet or a dedicated budgeting app like Walnut or Money View.
I’ve tried being an expense tracking perfectionist. Downloaded every transaction. Categorized everything. Analyzed weekly.
Burned out after three months.
Now I keep it simple. Jupiter shows me what I need to know. That’s enough for good decisions.
TLDR
Niyo:
Basic transaction list with simple categories.
Good for separating international travel expenses.
Zero advanced tracking features.
No budgeting or alerts.
Built for forex savings, not expense intelligence.
Jupiter:
Advanced expense categorization and insights.
Monthly spending reports with trends.
Budget setting and overspending alerts.
Visual analytics with charts and graphs.
Built specifically for expense awareness.
Bottom line: Jupiter dominates for expense tracking. Niyo is basic but functional for simple needs.
My recommendation: Use Jupiter as your expense tracking tool. Use Niyo only if you travel internationally frequently and want to separate those expenses.
Real benefit: Good expense tracking via Jupiter can help you cut unnecessary spending by 15 to 30%. That’s real money saved.
Sources:
- Niyo Official Website
- Jupiter Official Website
- Reserve Bank of India Consumer Education
- Personal usage data from Niyo (2019 to 2024)
- Personal usage data from Jupiter (2021 to 2024)
- Family spending data tracked across both platforms
- User feedback from BackToIndia Facebook community
- Statista – Digital Banking in India 2024