Budget Planner




0 members


Budget Planner for variable income usersmobile commerce application

Fruit sellers, Vegetable vendors, Shopkeepers etc are all into seasonal businesses. Their dailyincome fluctuates as it depends on variable factors like weather conditions, availability ofstock in the market, time of the year etc. However, their fixed monthly expenses like theelectricity bill; house rent, food etc remain constant & need to be paid by the end of themonth. They even need to save for their short term goals like buying a sari for mother onDiwali, repair cycle puncture etc as well as long term goals like renovating the house, buyinga scooter etc.With a fluctuating source of income, these variable low income group users find it verydifficult to achieve their financial goals within a stipulated time period. This project exploresthe concept of a Budget planner to help these users take informed decisions at any given time& eventually save money. However, saving does not just imply the cutting down of expenses.But its about living life to the fullest & making the right payment decision. These informedpayment decisions can be achieved by identifying ones Discretionary income at any givenpoint of time. Also m-commerce needs to evolve from just a mobile payment mode to anenriching all-in-one experience.To help variable low income group users save, it is important to help them plan their budget.This can be ensured if they are able to comprehend their discretionary expenses at any giventime. Discretionary income is also made up of various components. In order to take aninformed payment decision, the user should be aware of the following amounts1. Current balance available in hand2. Current monthly savings3. Fixed expenses to be paid at the end of month4. His current saving trend (his capacity to save)