Expense Tracker

Inspiration

Growing up in a country with diverse cultures, we observed that when it comes to making informed choices about money, there is another diverse pattern among diverse groups. Statistical analysis showed that these differences in financial planning basics correlate to differences in gender, qualification, location (rural, urban, or metro), employment, technology savvy, and current debt.

In most Indian families, we are taught about the value and importance of saving money. Even an ING survey found that Indians ranked number 2 in 10 leading countries assessed on financial literacy levels. But going into the data it was found that this was linked to the basic Indian ethos to save and invest in real estate and gold.

However, with changing lifestyles, more dependency on credit cards and access to a variety of personal loans as well as a heavy EMI burden are affecting the success of the financial plan of the salaried classes.

When we moved out for college and started living alone, managing expenses, budgeting our lifestyle and student debts, and planning for studying abroad, all this was not an easy task.

Thinking about the exact reason behind this problem, we realized that no one ever taught us about money matters. Whether it be schools or families, there is no curriculum or conversations on money management.

With one of our teammates suffering hard since the wake of the pandemic, as her father lost his job, and she had to support her family and fund her education alongside, we felt we should do something about this issue.

If her family would have been more informed and aware of financial backups, it would have been easier for him.

Hence, we came up with the idea to build something to solve this issue.