Student Virtual Wallet: Guide for Personal Finance

It is a simple app designed for Freshman students inorder to learn how to manage your Personal Finance. Earn Points and become a mentor & help fellow mates on their struggle to financial management.

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Inspiration

As a freshman when I first enrolled in college and took my first step towards my personal freedom, little did I know the "financial blunder" that I would be leading towards. I took in a part time job but I was horrible at managing my money. I wish I knew about the 50:30:20 rule (split your earning in essentials:needs:savings), so that I could better manage my finances.

What it does

I used C++ to create a login or registration page ( you can check the video for a more detailed explanation on the features and coding complexity). Once you are a registered user, you can enter the Virtual Wallet platform where the page educates you about the 50:30:20 rule and also allows you to choose your own ratio (depending on your earning and preferences but ensures you allocate enough in each section). Once you enter your earning, the platform educates you how much you should spend for each section( necessity, needs and savings). It then also asks about your rent and mandatory bills and ensures whether the portion you are spending in each sector is close enough to the threshold according to 50:30:20. I also used python to assess the performance of each user. Theoretically each user is divided into two sections: Mentor( people who are good or excellent at managing their personal finance according to 50:30:20) and Learner ( people who are struggling with personal finance). After getting information from the user about their spending and savings they are calculated on a point basis. If the point is 3(perfect score) you are eligible to be a mentor for another app user who is struggling with personal finance( score is 1 or 2). Lastly, another python script is used to pair at random Learner and Mentor so that the mentor can provide guide and support to the learner. Detailed video extended to 9 minutes Video link https://youtu.be/MFmv7_EuhTw

How I built it

I used C++ for the registration page and the primary page to get user information about how much they should spend in each section. Python was basically used for the assessment and connecting the different users.

Challenges I ran into

I had trouble coming up with the basic of personal finance. I was not aware of 50:30:20 rule. I was also struggling on creating the login page and functions with C++ since it has been almost 2 years since I last coded. The mentor and learner pairing was also challenge because the remove function was giving trouble compiling. Constantly switching between C++ and python was also a struggle since each script has different syntax. My background is biomedical but I took two introductory classes in python and C++ a while back and I am glad that I still recall the basics.

Accomplishments that I'm proud of

Getting a progress in less than 24 hours. I guess the adrenaline and 4 cups of coffee did the trick. Once I had the firs set of codes written the idea just came pouring in.

What I learned

I was able to learn a lot about personal finance( since I had to do some digging and research myself). A little bit on business/marketing as my application is a bit niche and targeted to younger population dynamics. The coding as I had struck several times and had to review the syntax and try improving it. It taught me patience but the rush of adrenaline after the accomplishment is simply amazing.

What's next for Hackatron_2020

Try compiling all the different language platform (C++ and python) into a simple user interface (UI) for a mobile application ( since 24 hours is not enough). Built more application on it like tracking expenses.Reach out to a potential investor and get this platform out in the market for everybody struggling with financial management.

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