Pocket-Saver

Pocket-Saver

Analyzes your past expenditures and predicts today's expense. Plans your whole budget beforehand and rewards you if you spend less than expected. It talks about the future which is in your hand :)

The problem Pocket-Saver solves

Many individuals use expense-tracking apps but struggle to meet their budget goals due to human error and laziness. Traditional expense tracking apps only record expenses as inputted by the user, leaving it up to the individual to improve their spending habits. Pocket-Saver, however, utilizes past data to predict an individual's maximum daily budget and reminds the user to stay within that limit.
Pocket-Saver is a smart money management app that uses machine learning (ML) to predict future expenses. It analyzes past expenditures to predict today's expenses and plans the user's budget beforehand. The app also rewards users for spending less than expected. Most expenses have a pattern, for example, if someone buys vegetables today, they may need to buy them again in 2 days. Similarly, daily necessities such as milk can also be predicted. This allows users to manage their money more efficiently, rather than simply recording past data.

The app features a number of useful tools to help users manage their finances. It has a voice-enabled expenditure record, so users can easily record expenses without typing. It also has a bill scan feature, which allows users to scan their shopping bills and have the expenses automatically recorded. The app also records the expenses in the correct category, whether they are recorded manually or via the bill scan feature.

The app also has a dashboard with an expense graph, which allows users to analyze their monthly expenses. There is also a small box that shows a predicted versus spent table for today. The app has several categories for expenses, such as food, travel, bills, clothes, groceries, and extra.

Challenges we ran into

As our app was an app-based solution hence we chose React Native to develop that. But due to lack of time and a lot of errors in react native most of the time went into resolving bugs. React Native is a relatively new technology and it is still being developed and improved upon, which means there may be bugs that have not yet been discovered or addressed. Additionally, React Native uses a bridge to communicate between the JavaScript code and the native code, which can introduce potential errors and inconsistencies. The reliance on third-party libraries can also introduce potential errors and compatibility issues. React Native is a cross-platform framework, which can create additional complexity and potential errors when trying to ensure compatibility across multiple platforms. However, it is worth noting that many of these issues have been addressed and the React Native community is continuously working on improving the stability and reliability of the framework.

Although we tried our level best to integrate most of the APIs as backend was fully complete and hosted.

Tracks Applied (3)

Open Source

A solution can never be enough to solve a problem. There can be multiple features that can be added to pocket saver to e...Read More

Fintech

This project deals with money management for users which can be used by common man and fintech industry people. For the...Read More

Overall Hackathon

As the project is a valid submission and overall hack only demand for that, hence the project qualifies for overall hack...Read More

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