Managing finances is a challenge for both individuals and families. Many people struggle with tracking expenses, setting budgets, and managing shared family finances. Existing solutions often:
- Require manual data entry, making them time-consuming and prone to errors.
- Lack AI-powered insights, preventing users from understanding their spending habits.
- Do not offer real-time collaboration, making family finance tracking difficult.
- Pose security risks by requiring direct bank connections.
- Automating transaction analysis using AI from uploaded PDFs.
- Providing real-time family finance tracking for multiple users.
- Offering AI-powered insights to help users budget smarter.
- Ensuring security by allowing only PDF uploads instead of direct bank linking.
This project is a full-stack MERN web application designed to help individuals and families manage their finances in real time using AI-powered transaction analysis.
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- AI-Powered PDF Processing – Automatically extracts and categorizes transactions.
- Real-Time Family Finance Management – Multiple users can track shared expenses.
- Smart Budgeting & Expense Tracking – Interactive dashboards with insights.
- Secure & Private – No direct bank linking, only PDF uploads for security.
- Set up MERN stack environment (MongoDB, Express.js, React, Node.js).
- Design wireframes for key pages (Dashboard, Upload, Budgeting, Family Finance).
- Define database schema for users, transactions, budgets, and family management.
- Implement user authentication (JWT-based login/signup).
- Set up Multer for handling PDF uploads.
- Configure MongoDB models for transactions and users.
- Use Tesseract OCR & NLP to extract transaction details from PDF.
- Send extracted data to the MongoDB database.
- Develop Dashboard UI (display balance, spending trends, AI insights).
- Implement real-time transaction display using WebSockets.
- Integrate charts and graphs for better data visualization.
- Build a family finance management system (add members, shared budgets).
- Implement role-based access for different family members.
- Set up family transaction tracking.
- Add budget management features (set limits, track spending).
- Implement real-time notifications for overspending and upcoming bills.
- Integrate AI-powered insights and recommendations.
- Optimize backend and AI processing for performance.
- Deploy project on Vercel (Frontend) and Render (Backend).
- Frontend: React, Redux, Tailwind CSS
- Backend: Node.js, Express.js
- Database: MongoDB
- AI & OCR: AI Api
- Real-Time Updates: WebSockets
To create an AI-powered financial planning tool that simplifies expense tracking, budgeting, and family finance management in a real-time, user-friendly, and secure manner.
