Abstract:
Budgeting is a key factor in every individual’s fund management process. An in-depth understanding on the concept of budgeting enables a proper management of monthly income leading to a balanced monthly expenditure pattern.
Therefore calculation of monthly expenditure and balancing income against the expenditure plays a vital role in all individual’s life. Even though there are many reliable/ robust methods to manage monthly income and expenditures of individuals with and without financial knowledge/ understanding, it all serves the purpose in isolation.
iSmart strives to overcome the difficulties that are faced by individuals when calculating and managing the expenditures against the monthly income received. iSmart will predict the budgeted expenditure for specified key expenditures based on the expenditure pattern of the user. It would also notify the user in the event the user, exceeds the budgeted expenditure enabling the user to be vigilant over other expenditures.
