A personal financial management application with spending monitoring

Ang, Jia Pei (2025) A personal financial management application with spending monitoring. Final Year Project, UTAR.

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Abstract

This project introduces an advanced personal financial management application with spending monitoring capabilities by tracking and monitoring their financial activities. The field of study for this project encompasses financial technology (fintech), mobile application development, and personal finance management. There are services such as effective budgeting, expense tracking, and financial decision-making tools provided to users by using mobile platforms. Nowadays, many people facing some challenges to keep track of their daily expenses due to busy schedules. Additionally, numerous payment methods have been introduced in the market, including e-wallet platforms such as TNG eWallet, GrabPay, ShopeePay, and embedded wallets within some mobile applications to ease customer payments. However, this variety has further complicated expense tracking, as individuals must keep track of multiple transactions across different platforms and navigate several apps to review their spending history. Consequently, the process of documenting daily expenses has become more difficult and time-consuming. To address this, there are various expense recording applications have appeared in the market, offering features such as receipt or transaction scanning through Optical Character Recognition (OCR). However, many expense tracking apps still fall short in delivering an app that meet the user requirement. To illustrate, the lack of automatic categorization of expenses into different categories accurately and unable to extract the correct amount of expenses. This project able to solve these limitations, by automatically categorizing expenses and allowing users to correct the result, which enhance the flexibility. Further, some rewarding system had been applied in this mobile application which aim to motivate the users to manage their expenses wisely. Additionally, AI-driven savings tips have been introduced to provide users with personalized financial guidance. The main objective of this project is to offer customers a user-friendly interface that simplifies their daily lives and reduce the effort required from users to record their expenses. Users will be able to check their expenses or financial reports anytime such as daily and monthly, helping them achieve their financial goals as well as making better financial planning decisions.

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