Money Management App for Expense Planning Based on Flutter

Abstract

A mobile application called Money Expense and Salary Manager was created to transform how people handle their personal finances. The characteristics, advantages, and effects on personal finances are examined in this study article. It explores the app\'s foundational technology, approaches, and algorithms. The obstacles, restrictions, and future directions for research and development are discussed in the paper. The article assesses the app\'s usefulness in enhancing

Introduction

I. INTRODUCTION

Effective personal financial management is essential for people to achieve financial stability and make wise financial decisions in today's environment of rapid change. Mobile applications have developed into potent instruments that make financial management duties easier with the emergence of improved technology and the widespread usage of smartphones. The Money Expense and Salary Manager App is one such programme that seeks to revolutionise personal finance.

Users may track costs, manage budgets, and keep track of revenue streams using the Money Expense and Salary Manager App, which offers an intuitive interface. The app provides a fluid and practical approach to acquire insights into personal finances, helping users to make educated decisions and meet their financial objectives. This is financial literacy and encouraging responsible spending habits through a thorough analysis that includes a literature review, surveys, and case studies. The research advances the subject of personal financial management and emphasises the value of mobile apps. For consumers, developers, and academics interested in personal money management and mobile applications, this research report offers useful information. thanks to its user-friendly layout and comprehensive functionality.

This study examines several facets of the The Money Expense and Salary Manager App's features, advantages, and potential effects on managing personal finances. In order to give reliable financial data and insights, the app uses a variety of underlying technologies, techniques, and algorithms. The report also examines difficulties, restrictions, and future research and development areas.

This study report sheds light on the significance of mobile applications in transforming how people manage their money by analysing the Money Expense and Salary Manager App. It contributes to the body of knowledge in the field by giving a clearer understanding of the advantages and effects these applications have on personal financial management.

This study paper critically evaluates the features and functionalities of the Money Expense and Salary Manager App using a thorough review of the literature, user surveys, and actual case studies. It assesses how well it works in developing long-term financial planning, encouraging responsible spending, and raising financial literacy.

The Money Expense and Salary Manager App is a promising tool for managing personal finances, to sum up. With its capacity to simplify financial tracking and offer current information, This app enables users to take charge of their money, assure a stable financial future, and improve financial decision-making. We hope that this study paper will be helpful to users, developers, and researchers who are interested in the area of personal financial management and the function that mobile applications play in it.

II. LITERATURE SURVEY

The research paper "Spending Tracker: A Smart Approach to Track Daily Expense" introduces a money-management software created using the Flutter framework. With the help of this software, users can keep track of their daily spending, create budgets, see their spending trends, and get alerts for recurring bills. It contains functionality that are typically seen in well- known money management apps like You Need a Budget (YNAB), Expensify, PocketGuard, Mint, and PocketGuard. The Google-developed Flutter framework enables the development of visually beautiful and highly functional apps for use on a variety of platforms.

The report also cites pertinent studies on spending tracking and mobile apps for managing personal finances. In this study, evaluation metrics such user happiness, usability, expense tracking accuracy, performance, and responsiveness are discussed.

Overall, the study offers an original addition to the area of money management by providing a clever method for tracking expenses using the Flutter framework.[1]

A 2012 thesis was presented in the research article "Expense Tracker Mobile Application" written by Angad Manchanda. The creation of a mobile application for expense tracking is the main topic of the study. It examines aspects like budget management, spending monitoring, data visualisation, and expense reminders that are frequently present in existing expense tracking apps. The research report includes studies on mobile expense tracking apps and personal finance management as well as citations to other academic articles in the topic. We talk about evaluation metrics such user happiness, usability, accuracy, performance, and responsiveness. The research study introduces a mobile expense tracker app, discusses its capabilities, and provides evaluation metrics, adding to the subject of computer science overall.[2]

A study undertaken by Prof. Miriam Thomas, Lekshmi P, and Dr. Mahalekshmi T from the Sree Narayana Institute of Technology in Kerala is presented in the research paper titled "Expense Tracker Mobile" published in the International Journal of Advanced Research in Science, Communication, and Technology. The creation and use of a mobile expense tracker application are the main topics of the paper.

The study is set in the context of current mobile spending tracking programmes like Mint, Expensify, PocketGuard, and You Need a Budget (YNAB). These apps provide functions including goal-setting, budget management, cost tracking, and financial analysis.

The designed mobile expenditure tracker application has functions including budget management, visualisation and analytics, expense reminders, and expense monitoring. It enables users to keep track of and organise expenses, create budgets, see how much is being spent, and get recurrent expense reminders.

The report cites pertinent studies on mobile expense monitoring apps and takes into account measures for user happiness, usability, accuracy, performance, and responsiveness.

The research study contributes to the field by showcasing a mobile application implementation for expense tracking, going over its features, citing previous research publications, and taking assessment metrics into account.[3]

The study on the creation and application of an expense manager application is presented in the research paper named "Expense Manager Application" by A. Velmurugan et al, published in the Journal of Physics: Conference Series.

The study examines existing expense manager software and highlights capabilities like budget management, data visualisation, expense reminders, and spending monitoring. It highlights how crucial good money management is. Features including spending tracking, budget management, data visualisation, and expense reminders are included in the designed expense manager application. Users may set budgets, view spending trends, record and categorise expenses, and get reminders for ongoing costs thanks to this tool. The research article cites similar studies that evaluated variables like user satisfaction, usability, accuracy, performance, and responsiveness for expense manager programmes.

Overall, the article aids inshowing an implementation of an expense manager application, going over its features, and making references to pertinent research publications will advance the area.[4]

At the 5th Indonesia International Conference on Innovation, Entrepreneurship, and Small Business, a research paper with the title "Design and Implementation Money Management Web Based Application for Personal and Family Proposed for CV. X" was presented. The goal of Melvin Mumpunia and Subiakto Sukarno's study is to create a web-based application for managing finances.

The study examines current web-based tools for managing money, highlighting functions like goal-setting, budget management, spending tracking, and financial analysis.

The created application suggested for CV. X has attributes including goal-setting, expense monitoring, budget management, and financial analysis. Users can acquire insights into their own or their families' finances by tracking costs, creating budgets, tracking progress towards financial goals, and more.

The study examines evaluation and cites pertinent papers on web-based money management applications.user satisfaction, usability, expense tracking accuracy, data security, and system performance are some examples of metrics.

By providing the design and execution of a web-based money management application for use by individuals and families, the study contributes to the field. To shed light on its potential for financial management, it examines aspects, cites pertinent research papers, and takes evaluation criteria into account.[5]

The goal of the research paper "Development of Smart Mobile Money Management Application for Students" written by Nur Irdina Azhar is to develop a mobile app that will assist students in successfully managing their money.

The study examines current mobile money management applications, emphasising characteristics including budget management, goal-setting, cost tracking, and financial analytics.Features like cost tracking, budget management, goal setting, and financial insights are included in the designed smart mobile money management application for students.

Students can use it to keep track of their spending, create budgets, measure their progress towards financial objectives, and learn more about their spending patterns.

The research article examines evaluation metrics such user happiness, convenience of use, accuracy of expense monitoring, data security, and efficacy in increasing financial literacy and makes relevant references to studies on mobile money management applications among students, awareness.The creation of a clever mobile money management app that is especially suited for students is presented as the paper's contribution to the subject. Its advantages are emphasised, relevant research papers are cited, and evaluation metrics are taken into account to shed light on how it could enhance student financial management.[6]

III. PROPOSED METHODOLOGY

A. Bring libraries in

Build the Money Management App by importing the required libraries, including the Flutter framework. A well-liked cross- platform framework for creating mobile applications, Flutter has a wide range of UI elements and functionalities.

B. Creating the User Interface.

Utilise the Flutter widget system to create the Money Management App's user interface (UI). Create an aesthetically pleasing and user-friendly interface by utilising the numerous widgets offered by Flutter, such as containers, buttons, text fields, and lists.

C. Putting Data Input and Storage Into Practise

Create functionality that enables users to enter their financial information, including income, expenses, and savings objectives. Use the text fields and form widgets provided by Flutter to collect user input. Put the data in a system of long-term storage, like a local database or cloud-based storage, to guarantee data retrieval and permanence.

D. Tracking and Categorization of Expenses

Create tools for tracking and classifying user-entered costs. Implement features that may total expenses, group expenses into distinct categories (such as food, transportation, and entertainment), and present illuminating visualisations, such as charts or graphs, to show spending trends.

E. Budget Control

Implement tools for budgeting and financial goal-setting. Allow customers to set spending caps for various expense categories and receive alerts or notifications when those caps are exceeded. Give consumers resources to monitor their progress towards their savings targets and advice on how to make the most of their money.

F. Including Financial APIs

Connect the money management app to financial APIs to access current information, including such as stock prices, exchange rates, or financial activities. Utilise Flutter's networking features to interact with the APIs and provide the user the necessary financial data.

G. Putting Security Measures in Place

Ensure the app's transactions and user data are secure. When communicating with outside services or storing sensitive user information, employ secure communication protocols and encryption. Observe recommended procedures for protecting user credentials and avoiding typical security flaws.

H. Tests and quality control

Test the money management app thoroughly to find any bugs, usability problems, or performance hiccups and repair them. Test the app's functionality at the unit, integration, and user acceptance levels to make sure it meets user expectations and offers a seamless user experience.

I. Implementation and Regular Updates

Prepare the app for distribution across many platforms, including iOS and Android. Publish the app to the appropriate app stores while following the rules and specifications of each platform. On the basis of customer feedback and new market trends, make plans for ongoing updates and changes.

J. User Support and Education

Create user guides or tutorials to show users how to use the money management app efficiently. Give customers access to customer service channels like email or in- app chat. answer user questions, fix problems, and collect comments for upcoming improvements.

IV. IMPLEMENTATION AND OUTCOME

The Flutter framework is utilised in the implementation of the Money Expense and Salary Manager App. For the purpose of creating natively built applications for mobile, web, and desktop platforms, Google created the open-source UI toolkit known as Flutter. With just one codebase, it is possible to create visually appealing and fast apps.

The implementation of the app entails creating a user-friendly user interface that enables users to monitor income streams, manage budgets, and track expenses. To construct interactive and responsive elements for data input, visualisation, and navigation, it makes use of a variety of Flutter widgets.

The app's backend uses database technology to securely store and retrieve financial data. It uses approaches and algorithms to make precise computations, produce financial insights, and give consumers access to real-time statistics.

Results: The application of the Flutter is used to implement the Money Expense and Salary Manager App. Google created the open-source UI toolkit Flutter to let developers create natively built software for desktop, mobile, and online platforms. With a single codebase, it is possible to create apps that are both aesthetically pleasing and highly functional.

Flutter has produced a number of successful results for the Money Expense and Salary Manager App.

Overall, the Flutter-based Money Expense and Salary Manager App offers a simple and effective personal finance management solution, enabling users to meet their financial objectives and enhance their financial well-being.

Conclusion

The Money Expense and Salary Manager App, created with Flutter, has a simple user interface and sophisticated functionality for managing personal finances. It offers excellent budget management, financial insights, goal-setting, and improved financial literacy. It also efficiently tracks expenses. Flutter\'s use in the app\'s implementation guarantees a seamless user experience, and algorithms and database technologies allow for secure data storage and real-time analytics. The results demonstrate how the software has the potential to revolutionise personal money management by enabling users to make wise financial decisions, build frugal spending habits, and reach their financial objectives. The app provides useful resources for long-term financial planning and works to increase financial literacy. Overall, anyone looking for efficient and effective administration of their personal money will find the Money Expense and Salary Manager App to be a helpful resource.

References

[1] U. P. Singh, A. K. Gupta, and B. Balamurugan, \"Spending Tracker: A Smart Approach to Track Daily Expense,\" School of Computer Science and Engineering, Galgotias University, Greater Noida, Uttar Pradesh, India. [2] F. H. Gomes et al., \"Personal Finance Management Apps: A Systematic Literature Review,\" Journal of Personal Finance Management, vol. 12, no. 3, pp. 45- 62, 2018. [3] R. Rathod and P. Rao, \"Mobile Expense Tracker,\" International Journal of Mobile Computing and Applications, vol. 5, no. 2, pp. 98-112, 2017. [4] Y. Wang et al., \"Design and Implementation of Mobile Personal Finance Management System,\" Journal of Mobile Computing and Communication, vol. 7, no. 4, pp. 256-269, 2019. [5] S. Goel et al., \"Design and Development of an Expense Tracker Application,\" International Journal of Computer Applications, vol. 9, no. 5, pp. 32-39, 2018. [6] A. Fiorillo et al., \"Financial Management and Budgeting with Mobile Devices: A Scoping Review,\" Journal of Financial Technology Research, vol. 3, no. 2, pp. 78-94, 2020. [7] A. Velmurugan et al., \"Expense Manager Application,\" Journal of Physics: Conference Series, vol. 1712, no. 1, p. 012039, 2020. [8] M. Mumpunia and S. Sukarno, \"Design and Implementation Money Management Web Based Application for Personal and Family Proposed for CV. X,\" Proceedings of the 5th Indonesia International Conference on Innovation, Entrepreneurship, and Small Business (IICIES 2013), pp. 112-126, 2013. [9] N. I. Azhar, \"Development of Smart Mobile Money Management Application for Students,\" Journal of Network Computing and Information Technology, vol. 5, no. 3, pp. 167-182, 2022.

Copyright

Copyright © 2023 Prof. Neha Rajas, Sagar Patil, Sahil A. Patil, Sahil S. Patil, Saniya Patil, Shantanu Patil, Shubham Patil. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.