Expense Tracker Wallet

-Hasan Kakal

People generally tend to withdraw cash from ATM rather than using cards

Most of the people , especially students use cash for their day to day transactions

Usually a person will remove a lump sum amount , say Rs.5000 and use it till it gets over and then again visit the ATM .

During this time , the person generally doesn’t keep a track of when and where he is spending the money and doesn’t realize when the money gets over.

A Wallet that can track your expenses

This gave me an idea of a wallet that can record the transactions and also tell me how much money I have with me

The Wallet can have different compartments for different currencies like below.

The user will insert the notes in their respective compartments.

Rs.50Rs.100 Rs.50

0

There will be a sensor

that will detect the number of

notes present in

that compartme

nt

Recording will be done on Mobile

The user will assign the currencies in each compartment.

-For eg Rs.50 in I, Rs.100 in II and Rs.500 in III and so on

The wallet will be connected to the users mobile via Bluetooth.

Whenever the user inserts a note or removes a note, the following will be recorded in the users mobile:

-Date of transaction

-Time of transaction

- Amount added or subtracted

-Location at the time of transaction ( GPS of the mobile phone will be used)

-Balance in wallet

It will be easy for the user to Recollect

o For eg. At the end of the day the following transactions are recorded on the users mobile.

22/10/13 12:00am Rs.300 Balance b/f

22/10/13 10:45am +Rs.5000 Electronic city Balance Rs 5300

22/10/13 01:30pm -Rs.250 Koramangala Balance Rs.5050

22/10/13 05:30pm -Rs.500 Mg Road Balance Rs.4550

So now at the end of the day when I see my transactions and the location it is easy for me to recollect on what I spent

Other features the Wallet can have

The mobile app can have a user set lower limit ,where when the money in the wallet is reached to that limit, the user is sent a notification that he is low on money and needs to add now.

The mobile app can have a pop up every time the user transacts asking him if he wants to manually record the expense description( For eg lunch/shopping, etc)

If the user is opting for that feature then at the the user can see a total of the expenditure made in different categories within the entered peroid.

Since the mobile is always going to be connected to the wallet, every time the wallet goes out of range, the mobile and the wallet both start beeping .

- This will help not only in notifying the user that the items are not connected but also help in notifying when the user forgets to carry either one of the two items.

Thank You