SCHOOL OF COMPUTING AND INFORMATION TECHNOLOGY

Bachelor of Technology
in
COMPUTER SCIENCE AND INFORMATION
TECHNOLOGY

Major Project Phase-I Report

Expense Tracker App

By

Madineni Kavya - R21EJ063

Om Mishra A - R21EJ067

Sanjana B - R21EJ074

Kumar Chawan - R22EJ806

Under the supervision of

Prof. Kavitha Babalad

Dept. of Computing and Information Technology

Rukmini Knowledge Park, Kattigena-

halli,
Yelahanka, Bengaluru-560064
Rukmini Knowledge Park, Kattigenahalli, Yelahanka, Bengaluru-560064

www.reva.edu.in

2024-25
SCHOOL OF COMPUTING AND INFORMATION TECHNOLOGY
Rukmini Knowledge Park, Kattigenahalli, Yelahanka, Bengaluru-560064

CERTIFICATE

This is to certify that the Major Project Phase-1 work titled “Expense Tracker App” is carried out by Om Mishra A (R21EJ067), Madineni Kavya (R21EJ063),

Sanjana B(R21EJ074) and Kumar Chawan(R22EJ806) are bonafide students of Bachelor of Technology in CSIT at the School of Computing and Information

Technology, REVA University, Bangalore in partial fulfillment for the award of degree in Bachelor of Technology in CSIT, during the year 2024-2025.

Prof. Kavitha Babalad Dr. Lithin Kumble

HOD, CSIT/AIML/CSSE and ISE Head of Department

Professor School of Computing and Information Technology,
School of Computing and Information Technology, REVA University
REVA University Date:
Date:

Name of the Examiner Signature of Examiner

1.

2.
 DECLARATION

We, Madineni Kavya (R21EJ063), Om Mishra A (R21EJ067), Sanjana B (R21EJ074), Kumar Chawan (R22EJ806), are student’s of seventh semester B.Tech in
CSIT, at the School of Computing and Information Technology, REVA University, Bangalore, hereby declare that the Major Project Phase-1 titled “Expense Tracker
App” has been carried out by us and submitted in partial fulfilment for the award of degree in Bachelor of Technology in CSIT during the academic year 2024-2025.

Student Signature

Name1: Madineni Kavya

SRN : R21EJ063

Name2: Om Mishra A

SRN : R21EJ067

Name3: Sanjana B

SRN : R21EJ074

Name4: Kumar Chawan

SRN : R22EJ806

Place : Bangalore

Date :
 ACKNOWLEDGEMENT

It is a great pleasure for us to acknowledge the assistance and support of many individuals who have been responsible for the successful completion of this project work.

First, we take this opportunity to express our sincere gratitude to School of Computing and Information Technology, REVA University for providing us with a great

opportunity to pursue our bachelor’s degree in this institution.

A special thanks to our HOD Dr. Lithin Kumble, HOD, CSIT , for their continues support and providing the necessary facilities with guidance for carryout the project

work.

We would like to thank our guide Prof. Kavitha Babalad, School of Computing and Information Technology, REVA University, for sparing her valuable time to extend

help in every step of our project work, which paved the way for smooth progress and fruitful culmination of the project.

We are also grateful to our family and friends who provided us with every requirement throughout the course.

We would like to thank one and all who directly or indirectly helped us in the Project work.

Signature of Students

SRN :

Name:

TABLE OF CONTENTS
Page

LIST OF ABBREVIATIONS ................................................................................. v

LIST OF FIGURES ……….................................................................................... vi

LIST OF TABLES ………….................................................................................. vii

ABSTRACT ............................................................................................................ viii

CHAPTER 1 INTRODUCTION………................................................................. 1

1.1. MOTIVATION 2

1.2. PROBLEM STATEMENT

1.3 OBJECTIVE OF THE PROJECT

1.4 SCOPE

1.5 PROJECT INTRODUCTION

CHAPTER 2 LITERATURE SURVEY ………..................................................... 5

CHAPTER 3 PROBLEM DEFINITION.................................................................. 5

CHAPTER 4 PROJECT DESCRIPTION.................................................................... 5

4.1. PROPOSED DESIGN ................................................................................. 5

4.2. ASSUMPTIONS AND DEPENDENCIES................................................... 5

CHAPTER 5 REQUIREMENTS ................................................................................ 6

5.1. FUNCTIONAL AND NON-FUNCTIONAL REQUIREMENTS ................. 6

5.2. HARDWARE REQUIREMENTS………………………………………… 6

5.3. SOFTWARE REQUIREMENTS………………………………………….

5.4 ARCHITECTURE

CHAPTER 6 METHODOLOGY............................................................................... 7

CHAPTER 7 DELIVERABLES …………………………………………………….. 8

REFERENCES... ....................................................................................................... 10

APPENDIX A ............................................................................................................ 11

ss

LIST OF ABBREVIATIONS

API Application Programming Interface

CC Counterfeit Medicines

CD Clinical Data
 CSV Comma-Separated Values

EMA European Medicines Agency

FDA Food and Drug Administration

GDPR General Data Protection Regulation

ML Machine Learning

MySQL Structured Query Language

Pharma Pharmaceuticals

QR Quick Response (code)

SaaS Software as a Service

UI User Interface

UX User Experience

WHO World Health Organization

LIST OF TABLES

Table no. Description of the table Page no.

01 Literature survey 02
 ABSTRACT

The Expense Tracker App is a comprehensive tool designed to help users manage personal finances by addressing challenges such as expense categorization, budgeting,

and financial goal-setting. In today’s inflationary environment, people are actively seeking ways to control their expenses and save money. Many existing apps lack ad -

vanced features, making it difficult for users to gain a complete understanding of their financial habits. This app fills that gap by using sophisticated algorithms for accurate

expense categorization and offering customizable budgeting and goal-setting tools, empowering users to better understand and manage their spending.

In addition to the basics, the app includes unique features like expense splitting, currency conversion, and donation tracking, making it more versatile than traditional fin-

ancial tools. It allows users to track expenses daily, monthly, or yearly and visualize spending trends in different budget categories, helping users stay on top of their finan -

cial situation with ease.

The user interface is designed to be intuitive and accessible to individuals with varying levels of financial knowledge. Security is a key focus, with robust data protection

ensuring users' financial information remains private and safe.

By consolidating essential financial functions into one platform, the Expense Tracker App aims to reduce financial stress while enhancing financial literacy. With clear visu -

alizations and insightful reports, it supports users, especially students and young adults, in building better financial habits, controlling expenses, and achieving their financial

goals confidently.

Chapter 1: INTRODUCTION

1.1 Motivation
The motivation behind this app stems from the increasing need for individuals to manage their finances efficiently in the face of rising inflation and economic uncertainty.

By offering an easy-to-use tool that tracks expenses, visualizes spending patterns, and helps with budgeting, users can take control of their financial health and future.

1.2 Problem Statement

The problem is that individuals struggle to manage their expenses and savings effectively in today's inflation-driven economy. They lack a simple, efficient tool to track

income, control spending, and visualize financial data. This leads to poor budgeting and difficulty in meeting financial goals for the future.

1.3 Objective of the Project

The objective of this app is to provide users with an efficient tool to track their income, expenses, and budgets. It offers customizable expense categories, visualizes financial

data through graphs, and helps users manage their spending and savings effectively across daily, weekly, monthly, and yearly periods.

1.4 Scope

The scope of this app includes tracking daily, weekly, monthly, and yearly income and expenses, providing customizable expense categories, and visualizing financial data

through graphs. It helps users manage their budgets efficiently, control spending, and achieve savings goals, all while ensuring their data remains private and secure.

1.5 Project Introduction

In today's fast-paced and inflation-driven world, managing personal finances has become a crucial aspect of maintaining financial stability. People are increasingly focused

on controlling their expenses and saving money for future needs, but many lack effective tools to do so. To address this, we are developing an Android application that helps

users track their income and expenses on a daily, weekly, monthly, and yearly basis. This app will offer customizable expense categories and visualize financial data in
graphical formats, making it easier to manage budgets and spending habits. With features like expense tracking, budget monitoring, and visual insights, users can take

control of their finances and work towards their savings goals. The app is designed to be user-friendly, secure, and efficient.

Chapter 2: LITERATURE SURVEY

S.No Year Author Name Title/Book Name Accuracy Model Used Research Gap

01 2008 Shuang-Cai Zhang; Yi The Budget Management 81% Balanced Scorecard No linkage between budget
Zhang Framework Based on and corporate strategy
Corporate Strategy

02 2021 A. Kumar, S. Gupta “AI in Financial 91% NLP for expense Limited support for dynamic
Management Apps” - categorization budget adjustments
IJCSIT

03 2023 Martin, R., Taylor, L. “Expense Tracker App 89% Decision Trees, Struggles with adapting to
Analysis” - Journal of Custom Algorithms users with irregular income
Financial Analytics and varied spending
patterns.

04 2020 Lin, J., & Wen, X. “AI-Enhanced Personal 92% Reinforcement Lacks compatibility with all
Budget Apps” - Financial Learning banking institutions, limiting
Tech Journal transaction syncing
capabilities.

05 2021 J. Smith, M. Lee “Automatic Categorization 88% Deep Learning Requires user intervention
in Expense Trackers” - (LSTM) for accurate expense
ACM Transactions categorization in multi-
currency scenarios.

06 2017 Edwin F. Boza; Cristina Reserved, on demand or 85% M(t)/M/* Queuing Lack of optimal cloud
L. Abad; Mónica serverless: Model-based Theory pricing strategies for varying
Villavicencio; Stephany workloads
simulations for cloud
Quimba; Juan Antonio
budget planning
Plaza
 07 2023 K. Verma, P. Roy “Next-Generation 89% Mixed Approach (AI & High infrastructure costs
Budgeting Tools” - Blockchain) restrict scalability and
International Financial affordability for individual
Journal users.

08 2022 He Liu Research on Financial 87% Particle Swarm Advantages over genetic
Budget Management Optimization algorithms for complex
System Based on Particle multi-peak problems
Swarm Optimization.

Summary of Research Gaps in Online Testing and Monitoring of Quality of Medicines and Consumables:
1. Lack of Real-Time Data Syncing:

Many expense tracker applications struggle with real-time data synchronization, particularly in regions with poor internet connectivity, resulting in delays and

inaccuracies in tracking expenses.

2. Scalability Issues:

Expense tracker applications often face challenges in scaling their features to accommodate larger user bases or more complex financial structures, making it

difficult to cater to diverse user needs.

3. Integration with Legacy Financial Systems:

Advanced features like automated categorization or AI-driven recommendations are difficult to integrate with existing financial management tools and banking

systems, hindering seamless user experience.

4. Data Availability and Completeness:

Machine learning models used in expense tracking can suffer from incomplete or insufficient datasets, particularly when users have varied spending habits,

which impacts the accuracy of insights and recommendations.

5. High Implementation Costs:

The costs associated with developing and maintaining sophisticated expense tracker applications, particularly those that incorporate AI or machine learning, can

be prohibitive for startups and small developers.

6. Accuracy of Budgeting and Forecasting:

Many expense tracking models struggle to provide accurate budgeting and forecasting, particularly when dealing with irregular income or sudden expenses,

leading to user dissatisfaction.

7. Complexity in User Interface Design:

While some applications offer advanced features, their complexity can deter users who prefer simple, intuitive interfaces, making it challenging to balance func-

tionality and usability.

8. Limited Data Collection in Underrepresented Demographics:

Expense tracking apps may not effectively cater to all demographic groups, especially in underrepresented or low-income populations, leading to biases in data

and analytics.

9. Sensor and Device Dependency:

Some expense tracker applications rely on smartphone sensors or devices for input, creating challenges in maintaining accurate and consistent data collection

across different user devices.

10. Insufficient Accuracy for Emerging Spending Trends: Current expense tracking models may struggle to adapt to emerging spending trends and behaviours,

necessitating continuous updates and refinements to maintain relevance and accuracy.

 Chapter 3: PROBLEM DEFINITION

The Expense Tracker App will feature an intuitive design that caters to users of all financial literacy levels. The app will implement algorithms that accurately categorize ex-

penses, allowing users to track and understand their spending patterns in detail. Users will also be able to set financial goals and personalized budgets, making it easier to ad -

here to their financial plans. To accommodate a variety of financial needs, the app includes functions such as expense splitting, currency conversion, and a donation tracking

system, ensuring that users have the flexibility to manage shared expenses or foreign transactions as necessary. Security will be a key focus, with robust data encryption and

secure login protocols to protect user data. Additionally, the app will provide real-time notifications and alerts to keep users informed of their spending activity and budget

status, promoting proactive financial management. By combining these features, the Expense Tracker App aims to provide a holistic and customizable financial management

experience.
 Chapter 4: PROBLEM DESCRIPTION

Managing personal finances is becoming increasingly difficult due to the growing complexity of expenses, financial goals, and external factors like inflation. Individuals and

organizations often struggle to track and categorize expenses, manage budgets, and ensure alignment between financial activities and strategic goals. Many existing financial

tools fail to offer advanced features that allow users to comprehensively understand their financial habits, such as real-time analytics, goal setting, and secure financial data

tracking. This results in ineffective budgeting and poor financial planning, hindering users from achieving their financial objectives.

4.1 Proposed design

The solution is a comprehensive Expense Tracker App that helps users manage their finances effectively by providing real-time insights, tracking expenses, and enabling

personalized budgeting. The app leverages advanced algorithms and machine learning techniques to offer the following key functionalities:

1. Expense Categorization: The app uses machine learning algorithms to analyze users' financial data, accurately categorize their expenses, and identify patterns

in their spending habits.

2. Goal Setting and Budgeting: Users can set financial goals and create personalized budgets. The app tracks progress and provides notifications when users ap-

proach their spending limits.

3. Expense Splitting, Currency Conversion, and Donation Tracking: The app offers features that are often missing in traditional financial tools, including

splitting shared expenses, converting currencies for international transactions, and tracking charitable donations.

4. Real-Time Analytics: The system provides users with real-time financial insights and analytics, helping them make more informed financial decisions.

5. User-Friendly Interface: Designed for users of all financial literacy levels, the app offers intuitive navigation and accessible visualizations of spending and

budget data.

6. Security: The app includes robust data security protocols, such as encryption and secure authentication, to ensure the privacy and safety of users’ financial in-

formation.

4.2 Assumptions and Dependencies

  Assumes that users will have access to stable internet connections for real-time financial tracking and secure data synchronization.

 Relies on integration with secure financial data sources, such as bank APIs, for automated transaction categorization and analysis.

 Assumes that the app will comply with relevant data protection laws and privacy standards, such as GDPR, to ensure users’ information remains

confidential.

 The project depends on user adoption of the app’s financial goal-setting and categorization features for optimal usage and effectiveness.

 Stable Internet Connection: The app requires a stable internet connection to ensure real-time financial tracking and secure synchronization of

data across devices.

 Integration with Secure Financial Data Sources: The system relies on integrations with bank APIs and other secure financial data sources for

automated transaction categorization and accurate financial analysis.

 Compliance with Privacy Standards: The app is expected to comply with global data protection laws, such as GDPR, to ensure the

confidentiality and security of user data.

 User Adoption: The effectiveness of the app depends on users adopting features such as financial goal-setting, categorization tools, and real-time

tracking for optimized usage and results.

Chapter 5: REQUIREMENTS
5.1 Function and non-functional requirements

Requirement’s analysis is very critical process that enables the success of a system or software project to be assessed. Requirements are generally split into two types:

Functional and non-functional requirements.

Functional Requirements: These are the requirements that the end user specifically demands as basic facilities that the system should offer. All these functionalities need to

be necessarily incorporated into the system as a part of the contract. These are represented or stated in the form of input to be given to the system, the operation performed

and the output expected. They are basically the requirements stated by the user which one can see directly in the final product, unlike the non-functional requirements.
Examples of functional requirements:

1) Authentication of user whenever he/she logs into the system

2) System shutdown in case of a cyber-attack

Non-functional requirements: These are basically the quality constraints that the system must satisfy according to the project contract. The priority or extent to which these

factors are implemented varies from one project to other. They are also called non-behavioral requirements.

They basically deal with issues like:

• Portability

• Security

• Maintainability

• Reliability

• Scalability

• Performance

• Reusability

• Flexibility

Examples of non-functional requirements:

1) Emails should be sent with a latency of no greater than 12 hours from such an activity.

2) The processing of each request should be done within 10 seconds

3) The site should load in 3 seconds whenever of simultaneous users are > 10000

5.2 Hardware Requirements

 Processor - I3/Intel Processor

 RAM - 8 GB

 Hard Disk - 1TB

5.3 Software Requirements

 Operating System - Windows 10

 JDK - java

 Plugin - Kotlin

 SDK - Android

 IDE - Android studio

 Database` - Firebase
5.4 Architecture

Chapter 6: MOTIVATION

 Reduce Financial Stress: Many people experience anxiety due to poor financial management, difficulty in tracking expenses, and challenges in sticking to
budgets. By offering an intuitive platform that simplifies daily financial management, this app reduces financial stress and empowers users to control their fin-
ances more effectively.
 Promote Financial Literacy: One of the key goals of this app is to enhance financial literacy. Through real-time insights, spending habit analysis, and budget-
ing tools, users are educated on how to manage their finances wisely. It fosters better understanding and enables individuals to make informed decisions that
contribute to long-term financial stability.
 Bridge the Gaps in Existing Apps: Current financial management tools often fall short in providing accurate expense categorization, advanced budgeting fea-
tures, and real-time insights. The proposed app fills these gaps by offering cutting-edge algorithms, machine learning, and comprehensive functionalities that
address diverse user needs—from expense splitting to currency conversion.
 Simplify Financial Management: Effective financial management often involves using multiple apps for different purposes, such as tracking expenses,
budgeting, and managing shared finances. The proposed Expense Tracker App consolidates these features into one platform, providing users with a single tool
to handle various aspects of their financial lives with ease.
 Encourage Financial Discipline and Long-Term Health: By integrating goal-setting and budget monitoring, the app helps users cultivate better financial dis-
cipline. It guides them toward avoiding unnecessary spending, sticking to their budget, and achieving long-term financial goals. This contributes to improved
financial health and sustainable money habits.
 Enhance Security and Trust in Financial Management: With rising concerns over data security, this app offers encrypted data handling and secure authen-
tication. By ensuring users’ sensitive financial information is protected, the app promotes trust and confidence, encouraging people to adopt it as their go-to fin-
ancial management tool.

Chapter 7: DELIVERABLES

 Advanced Expense Tracking Platform: A fully developed digital platform that uses algorithms to accurately categorize and track user expenses, providing a

detailed view of spending patterns in real time.

 Real-Time Notifications and Budget Alerts: A feature that provides instant notifications and alerts to users about spending, budget limits, and financial goals,

enabling them to take timely actions to manage finances effectively.

 User-Friendly Financial Dashboard: An intuitive dashboard that visualizes key insights, spending trends, budget adherence, and goal progress, helping users

understand their financial behaviour at a glance.

 Comprehensive Analytics and Reporting Tools: Tools that generate detailed reports on spending patterns, budget adherence, and financial goal progress, of-

fering users a deeper understanding of their finances.

 Pilot Testing and User Feedback Analysis: Results and findings from testing the platform with real-world users, including case studies on its effectiveness in

improving financial management and helping users achieve their financial goals.
 Fully Functional Expense Tracker App:

A digital platform that uses machine learning to accurately track and categorize expenses, offering real-time insights into spending patterns and financial man-

agement.
 REFERENCES

 Shuang-Cai Zhang; Yi Zhang || The Budget Management Framework Based on Corporate Strategy || 12-14 October 2008.
 Li Xiaojun; Shuai Zhaoqian || The Design and Implementation of Comprehensive Budget Management System || 25-27 December 2009.
 He Liu || Research on Financial Budget Management System Based on Particle Swarm Optimization || 26-27 December 2022.
 Edwin F. Boza; Cristina L. Abad; Mónica Villavicencio; Stephany Quimba; Juan Antonio Plaza || Reserved, on demand or serverless: Model-based simulations
for cloud budget planning || 16-20 October 2017