kamalraj21 / FinanceTracker

FinanceTracker project files

FinanceTracker

This repository contains all the project files for the FinanceTracker app.

Project Scope

What the Finance Tracker Will Do:

1. Expense Tracking: Record daily, weekly, and monthly expenses in various categories (e.g., food, utilities, entertainment).
2. Income Recording: Log monthly income sources.
3. Investment Monitoring: Track investment details including types (stocks, bonds, etc.), amounts invested, and returns.
4. Savings Goal Management: Set and monitor progress toward savings goals.
5. Data Visualization: Present financial data through graphs and charts for easier understanding of spending patterns and investment performance.
6. Budgeting: Allow users to set monthly budgets for different expense categories and track adherence.
7. Financial Insights: Generate simple insights based on spending patterns, budget adherence, and investment performance.
8. Manual Data Entry: Users will manually enter all data for expenses, income, investments, and savings goals.

What the Finance Tracker Will Not Do:

1. Automated Data Sync: Will not automatically sync data from bank accounts or financial institutions.
2. Real-time Market Data: Will not provide real-time stock market or investment data.
3. Advanced Financial Advice: Will not offer advanced financial planning or investment advice.
4. Currency Conversion: Will not handle multiple currencies or perform currency conversion.
5. High-Level Security Features: As a basic tool, it won’t have advanced security features like a commercial finance app.

Break Down Tasks

Setup Excel/Google Sheets Template

• Create tabs for Income, Expenses, Investments, and Savings Goals.
• Design input formats for each category.

Develop Formulas for Calculations

• Formulas for summing up expenses and income.
• Calculation for monthly savings.
• Return on investment calculation.

Implement Data Visualization

• Develop graphs and charts for expense distribution, income vs. expenses, etc.

Script Writing for Automation (Advanced)

• Write scripts (Google Apps Script or VBA) for automated alerts or data processing.

Testing and Validation

• Test formulas and scripts for accuracy.
• Validate data visualization for clarity and usefulness.

Documentation

• Write a user manual in README.
• Document the purpose of each part of the spreadsheet.

Feedback and Iteration

• Gather user feedback.
• Iterate on the tool based on feedback.

Version Control and Updates

• Regularly commit changes to GitHub.
• Maintain a changelog.

Create Issues

On GitHub, create issues for each of the above tasks. For example:

Issue: Setup Expense Tracking Tab

• Description: Create a tab in the spreadsheet for entering and categorizing expenses. Include fields for date, amount, category, and description.

Issue: Develop Income Visualization Chart

• Description: Implement a bar graph to represent monthly income over time, highlighting various income sources.

Issue: Script for Monthly Savings Alert

• Description: Write a script that calculates monthly savings and alerts the user if the savings goal is not met.

Each issue will act as a task or feature request. This way, you can track the progress of your project, and collaborators can easily see what needs to be worked on.