Budget-Manager

Overview

Budget Manager is a collaborative project developed during an IBM summer training program. It leverages machine learning to help users make informed financial decisions by analyzing spending patterns and providing insights into potential savings opportunities.

By comparing user-inputted expenses with similar transactions in the same category, Budget Manager empowers users to:

• Identify areas where they can optimize spending.
• Track their budget more effectively.
• Make smarter, financially responsible choices.

Features

• Machine Learning-Powered Insights: Uses a Random Forest Classifier to predict expenses based on historical transaction data.
• Category-wise Expenditure Analysis: Provides average spending benchmarks for different expense categories.
• Budget Tracking & Optimization: Identifies expenses exceeding predefined limits and suggests savings.
• User-Friendly Interface: Built with Streamlit, allowing users to log transactions effortlessly.
• Detailed Transaction Logging: Users can input:
  • Date, Category, Subcategory
  • Remarks, Amount, Income/Expense Type
  • Currency (INR)

Technologies Used

• Machine Learning: Random Forest Classifier
• Frontend: Streamlit (Python-based UI framework)
• Backend & Data Processing: Python, Pandas
• Database: CSV-based storage (expandable to SQL-based solutions)

Installation

Prerequisites

• Python 3.7 or higher
• Pip (Python package manager)

Steps

1. Clone the Repository:

   git clone https://github.com/Shriya-Guptaa/Budget-Manager
   cd Budget-Manager
   

2. Install Dependencies:

   pip install -r requirements.txt

3. Run the Application:

    streamlit run app.py

4. Access the Web App: Open your browser and visit http://localhost:8501 to start using the Budget Manager.

Usage

• Log Your Transactions: Enter details such as date, category, subcategory, and amount.
• Analyze Spending Trends: View average spending insights for different categories.
• Receive Budget Optimization Suggestions: Get alerts when expenses exceed recommended limits.
• Improve Financial Planning: Utilize AI-driven insights to refine your budgeting strategies.

License

This project is licensed under the MIT License.