BUTWAL MULTIPLE CAMPUS

INSTITUTE OF SCIENCE AND TECHNOLOGY

TRIBHUVAN UNIVERSITY

A FINAL YEAR PROJECT REPORT

On

“PERSONAL FINANCE ASSISTANT”

Submitted By:

Bikash Khanal [T.U Exam Roll no.: 21893/075]

Rabin Pandey [T.U Exam Roll no.: 21917/075]

Shila Kandel [T.U Exam Roll no.: 21934/075]

Submitted To:

Department of Computer Science and Information Technology

BUTWAL MULTIPLE CAMPUS

In Partial Fulfillment of the Requirements for the Bachelor’s Degree of

COMPUTER SCIENCE AND INFORMATION TECHNOLOGY

April, 2023
 Supervisor Recommendation

I hereby recommend that this project report under my supervision by Mr. Bikash
Khanal, Mr. Rabin Pandey, and Miss. Shila Kandel entitled “Personal Finance
Assistant” in partial fulfillment of the requirement for Bachelor’s Degree in Computer
Science and Information Technology of Tribhuvan University be processed for the
evaluation.

…………………………………..
Signature of Supervisor
Mr. Madhav Kahar Goud
(Project Supervisor)
Butwal Multiple Campus
Butwal, Rupandehi, Nepal.
Date:
Seal:

i
 Letter of Approval

This is to certify that this project prepared by Mr. Bikash Khanal, Mr. Rabin Pandey
and Miss. Shila Kandel of BSc. CSIT students 2075 Batch, Butwal Multiple Campus
entitled “Personal Finance Assistant” is a web application that can be used in managing
Personal Finances. It is an original project carried out under my guidance and supervision
towards the partial fulfillment of Bachelor's degree of Computer Science and Information
Technology.

………………………. ………………………….
Mr. Sunil Kumar Yadav Mr. Madhav Kahar Goud
Program Coordinator Supervisor
Butwal Multiple Campus Butwal Multiple Campus

………………………. …………………………
Dr. Khimananda Neupane Mr.
Campus Chief External Examiner
Butwal Multiple Campus Tribhuvan University

ii
 Student’s Declaration

We the final year B.Sc. CSIT students (7th semester) of Butwal Multiple Campus, hereby
declare that, project report entitled “Personal Finance Assistant” submitted in partial
fulfillment of the requirement for Bachelor’s Degree in Computer Science and
Information Technology of Tribhuvan University. This system is carried out by us under
the guidance and supervision of Madhav K. Goud sir, of Butwal Multiple Campus. We
assure that this project is our original work and not submitted for the award of any other
degree, diploma, fellowship or any other similar title or prize.

………………………. ………………………. ……………………….

Mr. Bikash Khanal Mr. Rabin Pandey Miss. Shila Kandel
[21893/075] [21917/075] [21934/075]

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 Acknowledgement

We would like to express our sincere appreciation for the guidance and support provided
to our group during the completion of our college project. Your valuable insights,
constructive feedback, and unwavering support have been instrumental in enabling us to
produce a report that meets the high standards set by the college. We would like to extend
our gratitude to the faculty members of the BSc. CSIT for providing us with access to the
resources and facilities necessary for the successful completion of our project. Their
dedication to teaching and their willingness to assist us in our academic pursuits have
been invaluable.
Furthermore, we would like to acknowledge the leadership and support of the Head of the
department, Sunil Kumar Yadav, the Campus Chief, Dr. Khimananda Neupane, and
our supervisor, Madhav Kahar Goud , who provided us with guidance and
encouragement throughout the project. We also wish to express our appreciation to each
member of our group for their hard work, commitment, and cooperation throughout the
project. It was their combined efforts that made this project a success.
Finally, we would like to acknowledge the support of our family and friends, whose
encouragement and motivation have been the driving force behind our success. Thank
you once again for your invaluable contribution to our academic growth, and we look
forward to your continued guidance and support in our future endeavors.

iv
 ABSTRACT

This project is about “Personal Finance Assistant” for individuals to manage their
personal finances. Previously, tracking own finances was haphazard and individual finds
difficulty to manages their own daily living. However, as time goes own, everyone will
be able to manage their financial statement. As a result, here comes an “Personal
Finance Assistant”. In the past, managing Personal Finances was difficult because
organizing all of the Personal Finance activities, and other things was difficult. We have
implemented a web-application designed for Personal Finance management. This makes
it easier for all individual to organize Personal Finances and reduces the amount of
activity they must do to track the finance activity. We have a make application at the
level because it is hard for individual to do long processes to track their Personal
Finances, so using our system will make it easier for them to organize Personal Finances
online.

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 Table of Contents
Supervisor Recommendation................................................................................................i

Letter of Approval................................................................................................................ii

Student’s Declaration..........................................................................................................iii

Acknowledgement..............................................................................................................iv

ABSTRACT.........................................................................................................................v

LIST OF ABBREVATIONS............................................................................................viii

List of Tables......................................................................................................................ix

List of Figures......................................................................................................................x

CHAPTER 1: INTRODUCTION........................................................................................1

Introduction......................................................................................................................1

1.2. Problem Statement.....................................................................................................2

1.3. Objectives..................................................................................................................3

1.4. Scope and Limitation.................................................................................................3

1.4.1 Scope....................................................................................................................3

1.4.2 Limitations...........................................................................................................3

1.5. Development Methodology.......................................................................................3

1.6. Report Organization..................................................................................................3

CHAPTER 2: BACKGROUND STUDYAND LITERATURE REVIEW.........................5

2.1. Background Study.....................................................................................................5

2.2. Literature Review......................................................................................................5

CHAPTER 3: SYSTEM AND ANALYSIS........................................................................7

3.1. System Analysis........................................................................................................7

3.1.1. Requirement Analysis............................................................................................7

3.1.2. Feasibility Analysis.............................................................................................7

3.1.3. Analysis..................................................................................................................9

CHAPTER 4: SYSREM DESIGN.....................................................................................11

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 4.1. Design......................................................................................................................11

CHAPTER 5: IMPLEMENTATION AND TESTING.....................................................13

5.1. Implementation........................................................................................................13

5.1.1. Tools Used........................................................................................................13

5.1.2. Implementation Details of Modules.................................................................13

5.2. Testing.....................................................................................................................15

5.2.1. Unit Testing......................................................................................................15

5.3. Result Analysis........................................................................................................17

CHAPTER 6: CONCLUSION AND FUTURE RECOMMENDATIONS.......................18

6.1. Conclusion...............................................................................................................18

6.2. Future Recommendations........................................................................................18

References..........................................................................................................................19

Appendix............................................................................................................................20

vii
 LIST OF ABBREVATIONS

BIT Binary Digit

CSS Cascading Style Sheet

DB Database

DFD Data Flow Diagram

ER Entity Relationship

GB Giga Byte

GUI Graphical User Interface

HTML Hyper Text Markup Language

SQL Structured Query Language

viii
 List of Tables
Table 4.1 Person Table.......................................................................................................11
Table 4.2 Database Table: Login Detail............................................................................11
Table 4.3 Database Table: Income....................................................................................11
Table 4.4 Database Table: Expense..................................................................................12
Table 4.5 Database Table: Category.................................................................................12
Table 5.1 Testing................................................................................................................14

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 List of Figures
Figure 3.1 Entity Relationship Diagram of Personal Finance Assistant.............................9
Figure 3.2 Level-0 Data Flow Diagram of Personal Finance Assistant.............................10
Figure 3.3 Level-1 Data Flow Diagram of Personal Finance Assistant............................10

x
 CHAPTER 1: INTRODUCTION
Introduction
In the modern age of modern technology, human life has become so easier with the help
of smart technologies such as digital assistants. Almost everything is being automated and
replaced by technology. But, as far as the money management of an individual is
concerned, there are very few innovations in technology that plays a direct role in helping
people manage their hard-earned money. Although, there are a lot of apps, like Daraz,
Sastodeal, and many more to help them spend money easily. But there is no technology
or platform to manage their hard-earned money, give suggestions on the mobilization of
the money, and help them achieve their financial goal. So, to fill this gap, our group has
decided to make a personal finance assistant platform name Personal Finance Assistant.
Financial tracking, otherwise known as expense tracking, is the process of keeping tabs
on your income and spending, ideally on a daily basis. It’s achieved by recording receipts,
invoices, and business expenses into some form of the accounting ledger. It goes hand in
hand with budgeting and is a valuable way to keep tabs on your business finances.
Over time, financial tracking will give you a clear idea of incoming cash and outgoing
costs, enabling you to forecast your finances, find ways to slash costs, and identify
growth opportunities. It can also help you secure a loan, prevent you from scrambling at
tax time, and limit fraud.
Tracking finances may seem like a no-brainer, but for time-crunched small business
owners, it can easily be forgotten. That can be disastrous for your business both now and
in the future. Finance tracking not only gives you a complete picture of your business but
also reduces the time it takes to prepare for taxes and allows you to identify potential
issues quickly, which keeps employees honest. Financial tracking can be a vital way to
identify growth opportunities, exit businesses that aren’t performing well, and help
manage expenses

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1.2. Problem Statement
Many youths and adults, who are entering the stage of earning and dealing with money,
are overwhelmingly in chaos while managing their money. They don’t have any specific
idea or guidance to manage their cash flow in the right direction. Beginners to financial
planning need a way to be motivated to develop a positive habit of budget management as
it is currently discouraging and a hassle to track expenses. As a result, many people spend
all their money while they are earning and become broke very early. To solve this
problem, and to help an individual manage his/her finance by their own customized
financial goals.
Due to the lack of basic financial education, people have poor spending habits, and poor
control over finances. Every year thousands of people get purchasing power without
knowing the basics. PhonePe is looking for a way to extend their market by helping
young adults to build spending habits and monitor them as well to prepare them for a
financially independent lifestyle. The term personal financial statement refers to a
document or spreadsheet that outlines an individual's financial position at a given point in
time. The statement typically includes general information about the individual, such as
name and address, along with a breakdown of total assets and liabilities. The statement
can help individuals track their financial goals and wealth, and can be used when they
apply for credit. personal financial statement shows the individual's net worth—their
assets minus their liabilities—which reflects what that person has in cash if they sell all
their assets and pay off all their debts. If their liabilities are greater than their assets, the
financial statement indicates a negative net worth. If the individual has more assets than
liabilities, they end up with a positive net worth.
Most of the young people are not aware of how to build a financially independent
lifestyle for themselves. They are often misled by many factors to buy and spend on
things that are not important for their lifestyle. Adding a layer on the app to build and
improve their financial wealth will help them to use that feature and attain a financially
independent lifestyle.

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1.3. Objectives
The main objectives of this project Personal Finance Assistant are to
 To help an individual achieve his financial goal
 To help manage his finance with minimal effort and financial knowledge
 To help an individual to focus on another aspect of life leaving behind the burden of
managing his money to our system

1.4. Scope and Limitation

1.4.1 Scope
Personal Finance Assistant is designed to manage and track financial Transactions,
including income, expenses, and other financial Activities of individual. It records and
tracks all the financial transactions and provide accurate financial statements.

1.4.2 Limitations
Personal Finance Assistant have limitations that include dependence on accurate data
input, lack of human expertise, security risks. Bank accounts are not connected so there is
no payment system.

1.5. Development Methodology

To solve actual problem, Personal Finance Assistant involves organizing the development
process into short sprints, prioritizing supervisor feedback and collaboration, and
breaking down into manageable units. The team has worked collaboratively, with regular
communications and feedback, hold regular meetings and retrospectives to ensure that the
project is on track. By Prioritizing end user needs and supervisor feedback, the project is
developing a high quality that meets the end-user’s needs.

1.6. Report Organization

The report is organized into seven chapters. Chapter one includes description about
Personal Finance Assistant, problem statements, objectives, scopes and limitations.
Chapter two contains literature review about the previous work done in related fields.
Chapter three comprises of requirement analysis, feasibility analysis of the system.
The requirements analysis further consists of functional and non-functional
requirements economic, technical and operational feasibilities are listed. Chapter four
consists of system design which includes use ER-Diagram, DFD diagram, and

3
consists of methodology that consist of system architecture and algorithm used to
build the system. Chapter five includes implementation and testing of the system.
Testing further comprises of unit testing, system testing. And Chapter six includes
conclusion and future enhancement.

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 CHAPTER 2: BACKGROUND STUDYAND LITERATURE
REVIEW

2.1. Background Study

Personal Finance Assistant, proper analysis of the system is crucial. The system must be
designed with a good understanding of both the backend and frontend to ensure they work
seamlessly together. Additionally, it is essential to have a well-designed database that can
meet the needs of the system. The system should have a user-friendly GUI for users to
easily navigate and use the application. Many people struggle with managing their
personal finances, especially when they have multiple accounts and expenses to track.
The personal finance assistant provides a sophisticated tool to store and retrieve financial
data, making it easier for users to manage their finances effectively. By using this tool,
users can monitor their expenses, track their incomes, expenses, saving and summarized
data of all which makes easier to manage their budgets. Overall developing a Personal
Finance Assistant requires a well-thought-out plan that consider the needs of end users.
By analyzing the system and designing a user- friendly interface, developers can create a
sophisticated tool that helps users manage their personal finances effectively. [1]

2.2. Literature Review

During the research of our project, we found that there is some FinTech apps with a
certain specific niche. Some of the popular apps in the market are Moneymitra,
Khatapana app, Karobar app. Moneymitra is a personal finance management app
developed by Ideapreneur Nepal. This app allows users to track their expenses and
incomes, set budgets and monitor their savings goals. It also provides a feature to link all
the banks accounts and credit/debit cards to provide a consolidated view of all financial
transactions in one place, according to users’ reviews, the app is user- friendly and
provides accurate information about their finances. However, there have been some
concerns regarding the security of the app and privacy of user data. Khatapana is a
FinTech initiative from Finnove Technologies to empower every Nepali household to
keep their paisakohisabkitab and guide them on a path of financial literacy and prosperity.
With Khatapana, anyone can keep record of the money flow (inward and outward) i.e. all
financial transactions for themselves and also for their business! Yes, you read it right. It
is for solopreneur, small business, partnership firm, freelancer or have just started your

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venture, then which can manage the money for our business separately using the same
application which is completely FREE! Khatapana which aims to add joy to our life with
each transaction Karobar app is a Nepali business app from where one can manage their
business accounting & inventory easily from their mobile app. Any small businesses can
use Karobar to manage their business accounting & inventory from our app. Karobar app
empowers all Nepali businesses. Karobar app is 100% free for Nepali businesses and you
can manage your business accounting & inventory for free. With this, we aim to help
1Lacs+ Nepali businesses go digital with Karobar app
“A systematic review of personal finance applications management” by Chauhan Et al.
(2019) it shows that the article focuses on mobile applications for personal finance
management, the authors evaluate the usability, functionality, and effectiveness of various
mobile apps and provide recommendations for users. [2]
Behavioral finance argues that some financial phenomena can plausibly be understood
using models in which some agents are not fully rational. The field has two building
blocks: limits to arbitrage, which argues that it can be difficult for rational traders to undo
the dislocations caused by less rational traders; and psychology, which catalogues the
kinds of deviations from full rationality we might expect to see. We discuss these two
topics, and then present a number of behavioral finance applications: to the aggregate
stock market, to the cross-section of average returns, to individual trading behavior, and
to corporate finance. We close by assessing progress in the field and speculating about its
future course. [3]
The objectives of studying this literature review are to create web-based application,
which serves people with all functionalities and makes end users to understand their
daily activities on expenses, incomes and saving which encourages savings and
making their financial status strong.

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 CHAPTER 3: SYSTEM AND ANALYSIS

3.1. System Analysis

This chapter gives a detailed outline of the software development methodology used in
this project. The strength and weaknesses of the chosen methodology have been outlined.
Further, the functional and non-functional requirements of the system are explained in
detail and the use cases which are a list of steps, typically defining interactions between a
role and a system, to achieve a goal. Systems analysis is the process by which an
individual’s studies a system such that an information system can be analyzed, modeled,
and a logical alternative can be chosen. Systems analysis projects are initiated for three
reasons: problems, opportunities, and directives. Systems analysis is the process by which
an individual’s studies a system such that an information system can be analyzed,
modeled, and a logical alternative can be chosen. Systems analysis projects are initiated
for three reasons: problems, opportunities, and directives.

3.1.1. Requirement Analysis

After analyzing all the apps and systems in the FinTech niche in Nepal, we saw a huge
scope for this Personal Finance Assistant. Almost all the FinTech Apps in Nepal are
limited to mobile top-ups, balance transfers, ticketing, and withdrawal only. But we did
not find an app that can help an individual achieve their financial goal without any
detailed knowledge of finance and money. Making for feasible, secure, and more
convenient for the user’s life and adding valuable assistance to their life. So, we
concluded that this is the current requirement for today’s youth. Hence, decide to make
Personal Finance Assistant. [4]

3.1.2. Feasibility Analysis

The feasibility analysis analyzes whether the software meets its requirements and whether
it can be implemented using the current technology and within specified budget and
schedule. It guides the project team in determining whether to proceed with the project
and it identifies the important risks associated with the project that must be managed if
the project is approved.

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i. Technical Feasibility
Our team is strongly made up of members with a variety of technical skills required for
the project. One member is very good with the backend in .NET and T-SQL and the other
two have a strong base in front-end development. This leads to good technical feasibility
for our project.

ii. Operational Feasibility

From the perspective of the users, our UI will be user-friendly and easy to navigate
processes. This will allow any simple users to use Personal Finance Assistant easily. As
far as our system’s operational feasibility is concerned, the more the user base will be the
more we will be operating efficiently. So, we see great operational feasibility for this
project.

iii. Economic Feasibility

This finance assistant is economically feasible for us to develop. Since the main cost of
this project is the deployment cost. The other technology we will be using is all open
source. Since the deployment cost can be managed by our team, we concluded this project
to be economically feasible too.

8
3.1.3. Analysis
Requirement analysis which is also known as requirement engineering is the process of
determining the belief of a user to carry out the process of creating a new or modified
application. It involves the process of studying all the task conducted to identify the needs
of different stakeholders with their goals and purposes of creating systems and procedures
that will achieve them in an efficient way.

 Data modeling using ER Diagrams:

Figure 1 Entity Relationship Diagram of Personal Finance Assistant

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 User

User
Income/Expense Management System

Income Management System

Personal Finance DB

Expense Management System

Personal Finance DB

 Process modeling using DFD:

Figure 2 Level-0 Data Flow Diagram of Personal Finance Assistant

Figure 3 Level-1 Data Flow Diagram of Personal Finance Assistant

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 CHAPTER 4: SYSREM DESIGN
4.1. Design
 Database Design:
Table 1 Person Table
Key Attribute Data Types
PK PersonId INT
Key FirstName VARCHAR
Key MiddleNam VARCHAR
e
Key LastName VARCHAR
Key Mobile VARCHAR
Key Gender VARCHAR
Key InsertDate SMALLDATETIME

Table 2 Database Table: Login Detail

Key Attribute Data Types
FK PersonId INT
Key Mobile VARCHAR
Key Password VARCHAR
Key InsertDat SMALLDATETIME
e

Table 3 Database Table: Income

Ke Attribute Data Types
y
PK IncomeId INT
FK IncomeCategoryId INT
Key Amount MONEY
Key ReceivedDate SMALLDATETIME
Key PayingParty VARCHAR
Key InsertDate SMALLDATETIME

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Table 4 Database Table: Expense
Ke Attribute Data Types
y
PK ExpenseId INT
FK ExpenseCategoryId INT
Key ReceivingParty VARCHAR
Key Amount MONEY
Key SpentDate SMALLDATETIME
Key Gender VARCHAR
Key InsertDate SMALLDATETIME

Table 5 Database Table: Category

Ke Attribute Data Types
y
PK CategoryId INT
Key Category VARCHAR
FK InsertBy INT

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 CHAPTER 5: IMPLEMENTATION AND TESTING
5.1. Implementation
5.1.1. Tools Used
Programming languages: C#, TypeScript, HTML, CSS

Frameworks: ASP.NET Core, Angular, Material UI, Google Charts, Bootstrap

Database platform: SQL Server

5.1.2. Implementation Details of Modules

Stored Procedures:
1. SpLogin:
This is the stored procedure of SQL Server. This handles the authorization and
authentication process of any login attempt in the system. When mobile number and
password are passed in JSON format to this stored procedure, it will return the
person’s user id and other essential information to display on Sidenav.

2. SpSignUp
This stored procedure is called by the Register API in the backend. It is used to create
a new user with the given information in JSON format. If the registration is
successful, it returns the success message.

3. SpIncomeIns
This stored procedure inserts the income data of the user. The data, sent from the Add
Income Form in the UI, is received by this stored procedure to insert the income.
Besides adding in the Income table, it also tags this transaction with the user id.

4. SpIncomeUpd
SpIncomUpd updates the data. Its main purpose is to achieve the functionality of
editing income data by the user.

5. SpExpenseIns
This is similar to that of SpIncomeIns. Its main purpose is to achieve the functionality
of adding Expenses by the user and tagging the transaction to that specific user’s id.

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6. SpExpenseUpd
SpExpenseUpd is similar to that of SpIncomeUpd. This edits the expense data of the
user.

7. SpIncomeExpenseSel
SpIncomeExpenseSel is the retrieval procedure. Its main purpose is to provide all data
required to display in the transaction router. It returns all the income and expense data
of the user.

8. SpTransactionCountGet
This stored procedure aims to give brief insights into users’ financial activity over the
period. It returns the total transaction count of the user in four categories i.e.
dailyExpenseCount, weeeklyTransactionCount, monthlyTransactionCount, and
yearlyTransactionCount.

9. SpDashboardDataGet
This is the one and only stored procedure for the dashboard controller. It generates
summary data for the visual representation of users’ financial activities over the
period. It returns the Income, Expense, and Saving summary which is displayed in the
line chart of the dashboard. Similarly, it gives monthly expense summaries on the
basis of expense categories. This data is visually represented in the pie chart in the
dashboard.

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5.2. Testing
5.2.1. Unit Testing
Table 6 Testing
« Test Unit Test Description Test Input Expected Actual Result
Result
1 Register This unit registersFirstName: Bikash A snack bar Snackbar with
a new user who MiddleName: with a success success
has not created an LastName: Khanal message message
account in our Mobile: should be displayed
system 98765443210 displayed
Gender: Male
New Password:
asdf123
2 Login This unit allows Mobile: A snack bar Snackbar with
existing users to 9876543210 with the the message
access the system Password: asdf123 message ‘Login
‘Login Successful’
Successful’ displayed
should be
displayed. The user’s
The user’s Full Name
Full Name and mobile
and mobile number
number displayed on
should be the side nav
displayed on of the app
the side nav
of the app
3 Add Income This unit allows Amount: 3400 Snack bar Snack bar
us to add our ReceivedDate: with the with the
incomes in order 4/10/2023 message message
to track our IncomeCategory: “Income “Income
income/expense Business Added Added
ReceivedFrom: Successfully” Successfully”
XYZ Company should be shown
shown
4 Add This unit allows Amount: 1100 Snack bar Snackbar with
Expense us to add our SpentDate: with the the message
expenses in order 04/10/2023 message “Income
to track our ExpenseCategory: “Income Added
income/expenses Entertainment Added Successfully”
PaidTo: Dairy Successfully” shown
should be
shown
5 Edit Income This unit allows Amount: 3450 A snack bar Snackbar with
us to edit the ReceivedDate: with the the message
already added 4/10/2023 message “Income
incomes. ReceivedFrom: “Income Updated
ABC Company Updated Successfully”
Successfully” shown
should be
shown
6 Edit This unit allows Amount: 1200 Snack bar Snackbar with

15
 Expense us to edit the SpentDate: with the the message
already-added 04/10/2023 message “Expense
expenses PaidTo: Dairy “Expense Updated
Updated Successfully”
Successfully” shown
should be
shown
7 Summary This unit displays No Inputs Four cards Four cards are
Transaction our total should be displayed on
transaction count displayed on top of the
on a daily, top of the transaction
weekly, monthly, transaction route
and yearly basis route
8 Dashboard This unit shows No Inputs Summary data Summary data
all the summary should be is displayed
data of the user’s displayed with Line
financial activity with Line Chart, Pie
through the year, Chart, Pie Chart, and
month, week, or a Chart, and Table Chart in
day Table Chart in the dashboard
the dashboard route
route

5.2.2. System Testing

Under system testing, the system as a whole was tested to ensure that the system is
functioning correctly and efficiently after all the required modules were developed and
integrated and to make sure it meets all the requirements. In this testing, the whole
application was tested to check the errors. The system was tested by the data supplied by
users. System testing reveals errors and omissions in the system requirement definition
because the real data exercise the system in different ways from the data presented during
the testing phase. From the user’s perspective, the system testing was done testing by first
registering the user. Alter valid registration, the user was able to log in to their account
using valid credentials.

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5.3. Result Analysis
During the testing of our Personal Finance Assistant, we got a satisfying result as was
expected during the project planning. All the test cases are successfully passed in API
testing, unit testing, and system testing. The final application is running efficiently
without any performance deficiency. All the functionality of the application is running
well. Thus, after analysis of results achieved from different testing phases, the project is
finalized and ready for submission.

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 CHAPTER 6: CONCLUSION AND FUTURE
RECOMMENDATIONS
6.1. Conclusion
Personal Finance is the niche in the software industry which yet to be explored in
comparison to other niches. As youth around the globe are aspiring to be financially
independent very early, there are very few applications developed that can help them to
track their finance effectively. Thus, our project Personal Finance Assistant is expected
to be a good help to those people. It has the essential functionality of tracking income,
expense, and savings. The functionality of showing summary insights on the user’s
financial behavior is very helpful to the user.

6.2. Future Recommendations

The Personal Finance Management System is a huge project with a high scope in the
market. This project can also be enhanced in the future with a lot of additional features
and modules. Some of the popular and demanding modules in this project are Budget
Planner, Digital Financial Coach, Investment Recommendation System, and many more.
Budget Planner is the module that automatically plans the expense plan for the user based
on their income sources and expense behavior. Likewise, Digital Financial Coach can
help newbies in the finance field learn the basics of financing based on their educational
level. An investment Recommendation System can analyze the share market’s trend and
recommend the users accordingly. All these modules can be of great value if implemented
with data mining and machine learning concepts.

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 References
[1] C. e. a. Clapp, ""Tracking climate finance: what and how?," International media of
Singapore, 2012.

[2] M. J. Price, C# 8.0 and .NET Core 3.0 – Modern Cross-Platform Development:
Build applications with C#, .NET Core, Entity Framework Core, ASP.NET Core,
and ML.NET using Visual Studio Code, 4th Edition 4th Edition, Kindle Edition.

[3] M. Housel, The Psychology of Money.

[4] M. Wesseling, "An EU Terrorist Finance Tracking System," ondon: Royal United
Services Institute for Defence and Security Studies, london, 2016.

[5] A. Freeman, Pro Angular 6 - Third Edition.

[6] "Building Your Own Personal Finance Tracker." The Balance, 2021,.

[7] "How to Build Your Own Personal Finance System." Lifehacker, 2019,
lifehacker.com/how-to-build-your-own-personal-finance-system-1656094110...

[8] "The Ultimate Guide to Personal Finance Software." The Simple Dollar, 2021,
www.thesimpledollar.com/financial-wellness/personal-finance-software.

[9] ""How to Make a Budget: A Step-by-Step Guide." NerdWallet, 2021,

www.nerdwallet.com/article/finance/how-to-make-a-budget".

[10] ""Best Personal Finance Apps and Tools for 2021." Money Under 30, 2021,
www.moneyunder30.com/best-personal-finance-apps".

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Appendix

20
21
22