Inspiration
Covid has caused a lot of inflation to various areas like grocery stores and restaurants, and people may not be aware of how much value they actually get for their money, or may want to know what things they should plan to spend their money on in the future to get the most out of their money. It's difficult to remember the last few years of every day goods' prices to see the trend of inflation. It would help to improve budgeting decisions if we could see what areas we might consider reallocating spending on.
What it does
It tracks the trend of inflation in four categories: food, healthcare like physician services, major purchases like housing and vehicles, and utilities like electricity and gas. A user can seek advice on how to spend their budget by asking our chatbot, explore coupons, and view inflation trends.
How we built it
Frontend was built with React, backend was built with Flask, Pandas, and Firebase, using data from the Bureau of Labor Statistics' API.
Challenges we ran into
We learned a lot, especially since it was the first hackathon for half our team. One first year had never touched React and made the coupons webpage, and our Firebase member ran into many issues trying to get the database to work due to the react hook useEffect being called multiple times. Our data analyst had a challenge running time series analysis on the data using the ARIMA model. We had one delay where one of our teammates had a screen time bug that no one expected for and it delayed her work.
Accomplishments that we're proud of
Learned a ton, had a great experience, first hackathon
What we learned
CSS, Javascript, react, Firestore, Flask, Python, Pandas, Matdotlib, ARMA,
What's next for All About Budget Management
We would have liked data to account for regional differences, but the Bureau of Labor Statistics' regional data had no way to map to the categorized data. The UI might use more designing as well.
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