Development of mobile application for personal finance management with expense analysis

Abstract

Poor control of personal finances is a growing problem, aggravated by flaws in banking applications and low financial literacy. This project addressed this issue by developing the mobile application "MyPocket," which allows users to manage their personal finances in an automated way. A mixed methodological approach was used, combining qualitative and quantitative techniques. Surveys and interviews were conducted with potential users to identify their needs and expectations. The design and development were implemented using agile methodologies, with continuous iterations to ensure compliance with the objectives. An expense analysis system was implemented with algorithms to categorize transactions and generate interactive graphical visualizations. User feedback was collected through beta testing and focus groups to optimize the application. The key areas of personal finance management applications, user interface (UI) and user experience (UX), budgeting, expense analysis, and notifications were investigated. The UI was defined as the visual components with which the user interacts, and the UX as the overall perception of the user's interaction with the application. Budgeting was described as the planning and distribution of income to meet financial needs and goals. Expense analysis was defined as the evaluation of consumption patterns to identify trends and areas for improvement. Notifications were presented as real-time alerts about the user's financial situation. A functional mobile application was developed that allows users to record expenses, set budgets, and analyze consumption patterns. React Native was initially considered as a development tool,but was changed to FlutterFlow to speed up the process. An expense analysis system was implemented, and user feedback was collected to optimize the application. The project addressed a significant social problem and aligned with Sustainable Development Goal (SDG) 8. Technical skills were integrated with a social purpose, promoting technological innovation in financial management. The application represents an accessible and efficient solution, facilitating informed financial decision-making. The project met user expectations and reinforced the importance of technology to solve everyday challenges.