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Showing posts from June, 2018


What is a budget? Wikipedia gives the following answer: "A budget is a financial plan for a defined period of time." So, it is a financial plan . Basically this is a list of incomes, expenses etc. However, most of the personal finance apps track "budget" as a set of limits. Like:  - how much may I spend on food  - how much may I pay for fuel and so on. Such limits are usually set per month. Setting limits is good approach, it can help control the spendings when user sees he is close to limit, but the month is in its middle. However, this is not sufficient for The Finance Planner. We think of budget as a list of planned transactions. In fact, this is a small difference: if you plan to spend $300/month on fuel, you just schedule monthly transactions. And when you buy fuel, you cut (split) the planned transactions. For instance, if you spent $20 on fuel today, you cut the planned transaction and get two:   - $20 - committed (paid)   - $280 - still planned.

Finance Planner Birth

Basic Financial Questions -           Where is my money gone? -           How much did I earn in the past? -           How much do I have right now? -           What can/should I spend less on? These basic financial questions can be answered only by 39% adults in the US ( Business Insider ). 61% do not track their spending. The ability to answer these is the first step of financial literacy. There are many tools on the market that help track earnings and expenses. Advanced Questions -           What should I pay this month? Tomorrow? -           How much money will I have in 8 months? In a year? -           Is it worth to take a bank credit to start a new business/project? -           When can I buy a new house/car? -           Will it be possible for me to pay the mortgage for the new apartment? These advanced questions for personal/family finance management is that our team wanted to help  answers. We took up a challenge to create a finance management