Where's my money - Finschool

Inspiration

Ever felt a shock by thinking where did your monthly salary or pocket money go by the end of a month? When Did you spend it? Where did you spend all of it? and Why did you spend it? How to save and not make that same mistake again?

There has been endless progress and technical advancements in how we deal with day to day financial dealings be it through Apple Pay, PayPal, or now cryptocurrencies and also financial instruments that are crucial to create one’s wealth through investing in stocks, bonds, etc. But all of these amazing tools are catering to a very small demographic of people. 68% of the world population still stands to be financially illiterate. Most schools do not discuss personal finance in their curriculum. To enable these high end technologies to help reach a larger audience we need to work on the ground level and attack the fundamental blocks around finance in people’s mindset.

We want to use technology to elevate the world's consciousness around their personal finance.

What it does

Where’s my money, is an app that simply takes in financial jargon and simplifies it for you, giving you a taste of managing your money without affording real losses so that you can make wiser decisions in real life.

It is a financial literacy app that teaches you A-Z about managing and creating wealth in a layman's and gamified manner. You start as a person who earns $1000 dollars monthly, as you complete each module you are hit with a set of questions which makes you ponder about how you can deal with different situations. After completing each module you are rewarded with some bonus money which then can be used in our stock exchange simulator. You complete courses, earn money, and build virtual wealth.

Each quiz captures different data as to how your overview towards finance is. Is it inclining towards savings or more towards spending.

How we built it

The project was not simple at all, keeping in mind the various components of the app we first started by creating a fundamental architecture to as to how the our app would be functioning - shorturl.at/cdlxE Then we took it to Figma where we brainstormed and completed design flows for our prototype -

Then we started working on the App-

Frontend

React.

Backend

Authentication: Auth0
Storing user-data (courses completed by user, info of stocks purchased etc.): Firebase
Stock Price Changes: Based on Real time prices using a free tier API (Alpha vantage/Polygon

Challenges we ran into

The time constraint was our biggest challenge. The project was very backend-heavy and it was a big challenge to incorporate all the backend logic.

What we learned

We researched about the condition of financial literacy in people, which helped us to make a better product. We also learnt about APIs like Alpha Vantage that provide real-time stock data.

What's next for Where’s my money?

We are looking to complete the backend of the app to make it fully functional. Also looking forward to adding more course modules for more topics like crypto, taxes, insurance, mutual funds etc.

Domain Name: learnfinancewitheaseusing.tech (Learn-finance-with-ease-using-tech)