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Hi /biz/
I've been given an assignment for my Economics class to develop a concept for an app that would analyse your Finance Management and Money Distribution and help you improve it (more on a personal day to day basis, not on the stock market or anything).
Since I'm not experienced in finance (studying Design lol) and what AI is able to do I'm struggling to find things in your behavior, that the app could pick up and analyse.
The only things I found was, spending to much on things, or spending more and more on one category of things..
If you have ideas, it would really help me out.
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>>1727152
Link to your bank account like many accounting/ financial planning software does. Even acorns does it. Then recognize transactions and sort in to useable data like Xero and Class Super do. Done.
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>>1727160
Okay, i will look into These, i think that i have to explain how these work though
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Concept:
An app that tells you how much to spend on various categories based on your income.
Income: $3000 a month
>food $300
>insurance $100
>car payment $250
>electricity $100
etc etc etc
It also shows a compound interest table that shows them on a daily basis, how just spending an extra $10 on lunch can diminish their compounding interest value by how much.
So people will see in real time, after every transaction, how much money they're potentially loosing out on, because of not investing it.
idk if you get it or not, ill try to explain a little better if you need it
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>>1727349
Okay, that's a good point. My concept has the idea of a budget built into it, with warnings if you reach your budget for a month. Also I thought of implementing a saving plan. It's similar to your idea, but it doesnt tell you, how much you're not investing right now, but how much you could save on categories like food or health based on an average value of other people of the same income.
My biggest problem is, I want this to be automated, so the user really does profit from the AI and can advance his finance management easily..
I'm searching for more useful ways to help the consumer and user with his finances.
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>>1727349
This does have weight to it tbf... would use!
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>>1727524
Yeah, i think so too, but it's not a full app concept I think
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OP again, anyone have more input?
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Gonna bump one last desperate time here
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>>1727152
you could add deadlines for bills
let them add investment categories
let them ask the app if it's viable to spend x amount of money
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>>1728715
the deadline thing is really good, I implemented that now. Thanks for the other suggestions too, even though, ordinary people dont invest too much i guess
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