Study on Expense Tracker using React.js

Study on Expense Tracker using React.js

Samarth kumar,

BCA -CTIS

Guide: Prof.Soma Joshi

Ajeenkya DY Patil University School of Management

Introduction

Personal finance management is a crucial aspect of modern life, and with the increasing complexity of financial transactions and the need for real-time tracking, expense tracking applications have become indispensable tools. These applications allow individuals to monitor their spending patterns, categorize expenses, and gain valuable insights into their financial behavior. However, despite the numerous expense tracking solutions available in the market, there is a need for a more comprehensive and user-friendly application that addresses the diverse needs of users while leveraging the latest technological advancements.

The proposed research aims to develop an intelligent expense tracking system that not only streamlines the process of recording and categorizing expenses but also provides personalized financial insights and recommendations. By incorporating cutting-edge technologies such as optical character recognition (OCR), machine learning, and natural language processing (NLP), the proposed system will automate the extraction of expense data from receipts and invoices, reducing the burden of manual entry and minimizing errors.

Additionally, the system will leverage geolocation services to provide location-based recommendations for merchants and services, enabling users to make informed decisions based on their spending patterns and preferences. The integration of voice recognition capabilities will further enhance the user experience, allowing for

hands-free expense tracking and seamless data entry.