Smart Budget planner
?Smart Budget Planner? will be designed to organize user?s income and expenses. User can add their money transactions by date and category and then review the results in reports and charts. System will recommend a suitable budget plan for the user by learning from their daily behavior. The pla
Project Title
Smart Budget planner
Project Area of Specialization
Project Summary
Introduction
“Smart Budget Planner” will be designed to organize user’s income and expenses. User can add their money transactions by date and category and then review the results in reports and charts. System will recommend a suitable budget plan for the user by learning from their daily behavior. The plan will be recommended in such a way that user can achieve the goal in a minimum period of time.
Motivation
Usually people face problems in managing their monthly budgets and exceed the amount of their total income due to which they have to seek some financial help to fulfill their needs. They generate a manual plan to save money for their desired things. They maintain a log of their income and their expenses and estimate a time to achieve their goal manually.
Purpose
Generally People have different goals and purposes like going on a vacation trip, buying expensive things or for special occasion. But with less income they cannot fulfill the expenses like these, so they have to save money for months depending upon the price of that goal. On saving money, one of the major issues they face is making a proper budget with which they could fulfill their objective in a limited period of time but ends up with wrong management of money and time. Smart Budget planner will help user in making the budget and saving money for their goals in minimum possible time.
Product Scope
Main scope of this project is to save money by recommending the budget by learning the behavior of user. Our app will not be limited to a single person but also for the people with families, by giving them a variety of expense categories. Our application involves following features:
a) Income Categories
b) Expense Categories
c) Recommend Budget Plan
d) Auditing of Budget
e) Estimated Time for goal to be achieved
f) Connection with Debit/credit card
g) Location Based Pop up
h) Synchronization with religious based calendar
Project Objectives
Objectives
By acquiring data from different people and using techniques, we will help the
user in recommending a budget suitable for them.
Acquire credible data from people having different income and family members
Apply different Algorithms to find out patterns in our dataset on the basis of different attributes
Recommending
In our project we are covering some features to facilitate our people to manage their daily expenses. The features are given below.
Recommend Budget plan
Description
Recommending a budget plan is the main feature of our Smart Budget plan application. In this feature the budget plan is recommend on the basis of then income and spending behavior of user. Spending of the user is entered by the user at the end of each day as well as at the end of each month. This audits helps the user to learn the spending behavior of user and recommend the budget plan according to his/her previous record of spending.
Estimated time for the Goal to be achieved
Description
This feature calculates the remaining time in which the user will achieve saving amount goal set by the user. It varies every time the amount is added or subtracted from the goal and gives user the new time.
Location based Pop-ups
Description
This feature will get the location of user and if the user is at any restaurant or shopping mall where expense can be made, then the application will generate a notification popup to check whether the user have spent any money if yes then asks the user to add that expense in its specific category.
Connection with Debit/Credit Card
Description
This feature will automatically read the message sent from the bank of user whenever the user pay for something from the debit/credit card and ask the user to specify the category of expense to add that expense amount.
Project Implementation Method
Methodology
Techniques
Following techniques will be used in order to complete this application
Machine Learning
The system learns the expenditure behavior of user by their previous records and data which are also audited by them. It then recommends budget plan which is smarter and cost efficient for the user.
Data Mining
At first, the budget will be generated from the data sets of families and their monthly expenses through data mining then it will start learning from the personal data of user.
Benefits of the Project
Benefits
To facilitate people, we have taken an initiative to create an application that can recommend a budget plan to achieve their saving goal in a particular time. Our system will provide a smart budget for the user by learning from their records and data which will help them in saving time and money and get motivation to complete their goal.
Technical Details of Final Deliverable
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High Level Use Cases
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High level essential use case is a brief description of the main processes used to accomplish the system function. [2]
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Use Case 01- Sign Up
This table describe the use case named as Sign up
| Use Case: | Sign Up |
| Actors: | User |
| Type: | Primary |
| Description: | User will create an account providing the name, Income, Family members, Religion to use the application. |
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Use Case 02- Recommend Budget
This table describe the use case named as Recommend Budget.
| Use Case: | Recommend Budget |
| Actors: | System |
| Description: | System will recommend user a budget plan based on the income and family member, the user entered and his previous expense Behavior |
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Use Case 03- Set Goal
This table describe the use case named as Set Goal.
| Use Case: | Set Goal |
| Actors: | User |
| Type: | Primary |
| Description: | User will set a goal amount to be saved. |
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Use Case 04- Audit
This table describe the use case named as Audit.
| Use Case: | Audit |
| Actors: | User |
| Type: | Primary |
| Description: | User have to do audit at the end of the day and also at the end of month to maintain a log on which system will learn user’s behavior. |
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Use Case 05- Generate Expense Statistics
This table describe the use case named as Generate Expense Graph.
| Use Case: | Generate Expense Graph |
| Actors: | System |
| Description: | System will generate the statics of expenses and saving in the form of graphs. |
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Use Case 06- Generate Notification
This table describe the use case named as Generate Notification.
| Use Case: | Generate Notification |
| Actors: | System |
| Description: | The System generate notifications to inform the respective user. |
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Use Case 07- Calendar Synchronization
This table describe the use case named as Calendar Synchronization.
| Use Case: | Calendar Synchronization |
| Actors: | System |
| Description: | The System will be synced with the religious calendar of user. |
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Use Case 08 – Update Expenses Categories
This table describe the use case named as Update Expenses Categories
| Use Case: | Update Expenses Categories |
| Actors: | User |
| Type: | Primary |
| Description: | The user add the expenses to its specific expense category. |
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Use Case 09 – Add Personal Information
This table describe the use case named as Add Personal Information
| Use Case: | Add Personal Information |
| Actors: | User |
| Type: | Primary |
| Description: | The user Add his income, family members and religion. |
6.2.10. Use Case 10 – Calculate Estimated time
This table describe the use case named as Calculate Estimated time
| Use Case: | Calculate Estimated time |
| Actors: | System |
| Type: | Secondary |
| Description: | System will generate the estimated remaining time for the saving goal to be achieved |
6.2.11. Use Case 11 – Update through Credit/Debit Card
This table describe the use case named as Update through Credit/Debit Card
&l| Use Case: | Update through Credit/Debit Card |
| Actors: | System |
| Type: | User |
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Final Deliverable of the Project
Type of Industry
Technologies
Sustainable Development Goals
Required Resources
| Use Case: | Recommend Budget |
| Actors: | System |
| Description: | System will recommend user a budget plan based on the income and family member, the user entered and his previous expense Behavior |
If you need this project, please contact me on contact@adikhanofficial.com
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