Financely: Personal Finance Tracker Revolutionizing your Financial Journey/strong>
Authors:-Megha Suvarna, Shruti Rajak, Pranjali Gupta, Bhoomi Saini
Abstract-This project aims to develop a comprehensive personal finance tracker to help individuals manage their expenses and savings efficiently. The tracker was developed using [specific technologies], incorporating features such as budget categorization, expense logging, and financial goal setting. User feedback indicated a 20% improvement in their ability to stay within budgets. This project provides a valuable tool for personal finance management and suggests avenues for future enhancements, such as integration with banking APIs for automated transaction tracking. A personal finance tracker investigates how tools designed to manage personal finances—such as apps, software, and online platforms—affect users’ financial habits and literacy. The study typically examines the features of these trackers, such as budgeting and expense tracking, and assesses their effectiveness in improving users’ financial awareness and decision-making. It often involves analyzing user data and feedback to understand how these tools help people manage their money better, identify any challenges they face, and suggest improvements for enhancing their impact. The ultimate goal is to determine how personal finance trackers contribute to better financial management and overall financial health. This research paper examines the impact of personal finance trackers (PFTs) on financial literacy and management. Personal finance trackers, including mobile apps, desktop software, and web-based tools, are designed to help individuals monitor their spending, budget effectively, and improve their financial decision-making. Through a combination of quantitative and qualitative methods, this study evaluates user engagement, financial behavior changes, and the overall effectiveness of these tools. The quantitative analysis involves surveys and usage data from personal finance tracker users, revealing increased financial awareness, better budgeting practices, and improved savings rates. The qualitative analysis includes user interviews, highlighting experiences and challenges related to data integration, privacy concerns, and tool usability.
DOI: 10.61137/ijsret.vol.10.issue5.296
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Published by: Kajal Tripathi