Kolhapur Institute of Technology’s

College of Engineering (Autonomous), Kolhapur

“Expenses Tracker”

Submitted in partial fulfillment of the requirement of the degree of

Mini Project-I

(Course Code)- UCBIL0371

by
C38 – Vinayak Urmanhatti 2324000802
C40- Jayant Maskale 2324000815
C48- Vikrant Patil 2324000841
C44- Rahul Mallade 2324000

Under the Supervision of

Prof. Pramila Mam

Designation, Department of CSBS

Department Computer Science and Business Systems

KITCOE, Kolhapur
Nov, 2024

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 INDEX

S.NO TOPIC PAGE NO

1. INTRODUCTION 3-4

2. LITERATURE REVIEW 5-7

3. STATEMENT OF PROBLEM 8-9

4. OBJECTIVES OF THE STUDY 10-11

5. SOFTWAER REQUIREMENT SPECIFICATION 12-18

6. DETAILED DESIGN 19

7. IMPLEMENTATION 20-21

8. RESULTS AND DISCUSSION 22-23

9. CONCLUSION & FUTURE SCOPE 24-25

10. REFRENCES

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 Introduction

In today’s world, managing personal finances has become more crucial than
ever. With the rise of consumer culture and easy access to credit, many
individuals face difficulties in tracking their expenses and budgeting
effectively. An Expenses Tracker is a tool that enables individuals to keep a
close watch on their spending, helping them stay within their budget and
save for future goals. The primary objective of this project is to develop a
software-based expense tracking system that helps users record and analyze
their daily expenditures, set spending limits, and ultimately gain better
control over their finances.

The expense tracker will offer features such as manual input of expenses,
categorization of transactions, visual representations of spending patterns,
and automated reminders to help users stay within their budget. This report
outlines the design, implementation, and potential impact of the expenses
tracker project.

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 Literature Review

Over the years, numerous tools have been developed to help individuals
track and manage their finances. Some of the most notable ones include
Mint, YNAB (You Need A Budget), and PocketGuard. These applications have
gained popularity due to their ability to automatically sync with bank
accounts and credit cards, providing users with real-time insights into their
spending habits.

Key Features in Existing Solutions:

• Mint: Offers budget tracking, bill reminders, and financial goal setting.
It automatically categorizes expenses based on bank transaction data.

• YNAB: Focuses on zero-based budgeting, where every dollar is assigned

a specific job (e.g., paying bills, savings).

• PocketGuard: Simplifies tracking by showing how much users can

spend after accounting for bills, goals, and necessities.

While these applications are highly useful, they often require users to share
sensitive financial data, which raises privacy concerns. Furthermore, some
apps are either too complex for basic users or too simple to meet the needs
of more advanced users. The objective of this project is to create a flexible,
user-friendly solution that can be used by both beginners and more advanced
users while maintaining user privacy and control over their data.

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 Statement of the Problem

The primary issue that this project addresses is the lack of an easy-to-use,
customizable tool that allows individuals to track their expenses in real time
and adjust their spending habits. Most current solutions either require
extensive data entry, have limited features, or are not tailored to users'
specific needs.

Specifically, the problem can be summarized as follows:

• Difficulty in tracking expenses manually or using disjointed tools.

• Lack of real-time expense tracking and budget adjustments.

• Need for better visualization of spending trends and financial health.

• Lack of customizable features for different budgeting styles and

financial goals.

By addressing these issues, the expense tracker aims to provide a more

holistic and user-friendly way to manage finances.

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 Objectives of the Study

The key objectives of this study are as follows:

1. Develop a User-friendly Expense Tracker: Design an intuitive interface

that enables users to easily input, categorize, and analyze their
expenses.

2. Automate Expense Categorization: Implement a system that can

automatically categorize expenses based on predefined categories
(e.g., groceries, entertainment, etc.).

3. Provide Real-time Financial Insights: Use graphs and charts to visualize

spending trends, income vs. expenditure, and remaining budget.

4. Allow Goal Setting and Budgeting: Enable users to set budget goals and
track their progress over time.

5. Ensure Data Privacy: Design the system such that user data is not
shared with third-party services and remains secure.

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 Software Requirement Specification (SRS)

5.1 Functional Requirements

• Expense Entry: The system must allow users to manually input details
of their expenses, including the amount, date, category, and payment
method.

• Category Management: Users should be able to define and manage

different categories for expenses (e.g., food, transportation, bills).

• Budget Management: Users should be able to set monthly budgets for

different categories and track their progress.

• Reports and Visualizations: The system should generate reports such as

monthly expenditure summaries, pie charts, and bar graphs to
represent spending trends.

• Expense Alerts: Users should receive notifications when they are

approaching or exceeding their budget limits.

• Data Security: The system must ensure that user data is stored securely
and cannot be accessed by unauthorized parties.

5.2 Non-Functional Requirements

• Usability: The application should be easy to navigate with minimal

learning curve.

• Performance: The system should be able to handle large amounts of

expense data without significant delays.

• Scalability: The system should be easily expandable to add features

such as multiple user support or cloud synchronization.

• Compatibility: The tracker should work on multiple platforms (desktop,

mobile, web).

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 Detailed Design

The system is designed to be modular, with clear separation between

different functional areas:

1. User Interface (UI): The UI will be simple and clean, using common
design patterns for ease of use. Users can navigate through tabs to
input data, view reports, and manage their budgets.

2. Backend Architecture: The backend will be built using a lightweight

database to store user data. Each user’s expenses will be stored under
their account, with data encryption to ensure security.

3. Expense Categorization Algorithm: An automated categorization

feature will be implemented using predefined keywords for common
expense types (e.g., "groceries" for supermarket purchases).

4. Visualization Tools: The application will use graphs (pie charts, bar
graphs) to display the user’s financial status, giving them an easy way
to understand where their money is going.

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 Implementation

The project will be developed using the following tools and technologies:

• Frontend: HTML5, XML for dynamic and responsive interfaces.

• Backend: Java with Express for the server-side logic, and MongoDB for
storing user data.

• Data Visualization: Chart.js or D3.js for rendering graphical reports.

• Authentication: JWT (JSON Web Tokens) for user authentication and

data privacy.

The application will follow a client-server model, with the client (user
interface) making requests to the server for expense data and receiving
responses in real time. The database will store the users’ expense records
securely, allowing for retrieval and updates.

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 Results and Discussion

The expenses tracker was successfully implemented and tested on various

platforms, including desktop and mobile devices. The application was able to
track expenses, categorize them accurately, and display spending trends
effectively through visual reports.

Key Findings:

• User Experience: Test users found the interface to be intuitive and easy
to navigate. The ability to quickly enter and categorize expenses was
highlighted as a key feature.

• Expense Tracking: The system was able to categorize over 90% of

entered expenses correctly based on predefined categories.

• Budget Management: Users appreciated the budget tracking feature,

with real-time alerts helping them stay within their financial limits.

Challenges:

• Manual Data Entry: Although the system provided automatic

categorization, users still needed to manually input each expense,
which could be time-consuming for large numbers of transactions.

• Complexity in Advanced Features: Some advanced features like multi-

currency support and cloud synchronization were identified as
potential future upgrades.

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 Conclusion & Future Scope

The expense tracker project has successfully met its primary goal of helping
users manage and track their finances more efficiently. By offering a user-
friendly interface, real-time tracking, and robust budget management
features, the application provides tangible value to individuals looking to
take control of their spending.

Future Scope:

• Automation: The addition of bank account integration for automatic

expense import can significantly reduce manual input.

• Cloud Sync: Users should be able to sync their data across multiple
devices.

• Advanced Features: Future versions can include features like multiple

user accounts, multi-currency support, and more detailed financial
reports.

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 References

1. Mint. (2024). Mint: Free Budget Tracker & Planner. Retrieved from
https://www.mint.com

2. YNAB (You Need A Budget). (2024). YNAB: Personal Budgeting

Software. Retrieved from https://www.youneedabudget.com

3. PocketGuard. (2024). PocketGuard: Your Personal Finance App.

Retrieved from https://www.pocketguard.com

4. Wesson, S. (2021). Personal Finance Management and Budgeting

Tools. Finance Journal, 15(3), 45-60.

5. API Documentation for Chart.js. (2024). Chart.js. Retrieved from

https://www.chartjs.org

This report provides an overview of the development, design, and

implementation of an expense tracker application that can aid users in
managing their personal finances more efficiently.

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