During the pandemic, we came up with an idea for a financial monitoring app. At that time,
many people were unemployed and barely making ends meet every day. The US is the number 1
developed country in the world; however, lots of people are living in poverty. Many of them do
not have saving in banks and even do not have emergency funds. We realize the importance of
financial education is critical as people must budget wisely, utilize emergency funds and save to
survive. However, the lack of a way to track spending makes this extremely difficult. Because
many adults (including teenagers and young adults) alike use credit cards, there is no guaranteed
way to track one’s spending, causing many people great trouble, and to lose track of their income
and their spending. Also, many people do not pay off credit cards on time and the credit card
debt increased significantly. When we learned about this, we immediately started thinking about
how we could help people understand their spending and income. With this app, we successfully
solved this problem. With just one click, the app generates financial reports including Balance
Sheets and Income Statements based on different categories such as gas, vacations, food, and
more. Now that people have a way to track their financial position, income they earn and
expenses they incur. They can monitor their financials anytime and anywhere to reach their goals
or keep track of their budget. Also, it can help people to start having the saving habit.