Personal Finance Manager

BudgetMaster is a simple, easy-to-use personal finance management tool designed to help users manage their income, expenses, savings, and spending goals. It allows users to track their financial progress, set budget limits, and monitor their financial goals effectively.

Table of Contents

• Introduction
• Objectives
• Features
• How to Use
• Installation
• Contribution

Contributors

1. Ameen Siddiqui
2. Johann
3. Omar Abdulla Alzaabi

Introduction

BudgetMaster™ is a Java-based command-line application that acts as a personal finance manager. Whether you want to log transactions, set budget limits, or track your progress toward financial goals, BudgetMaster™ provides a simple interface to help you manage your finances in an organized way.

Objectives

The primary objectives of BudgetMaster™ are:

• Transaction Management: Allow users to log income, expenses, and investments, along with details like date, category, and notes.
• Budget Tracking: Help users set and monitor budget limits for various spending categories.
• Financial Goal Management: Enable users to define savings and spending goals and track their progress towards these goals.
• Progress Monitoring: Provide feedback on the user's financial health by comparing their spending and savings against set goals.
• Financial Reporting: Generate simple financial reports to summarize logged transactions and goals.

Features

• Transaction Logging: Log and manage different types of financial transactions (Income, Expense, Investment).
• Set Budget Limits: Define and update your budget for various financial categories.
• Track Savings and Spendings Goals: Set personal savings and spending goals and track your progress.
• Progress Tracking: Monitor whether you are on track with your goals and budgets.
• Financial Reports: Generate a report of your financial activities based on logged transactions.

How to Use

Once you launch the BudgetMaster™, you will be presented with a menu of options, including:

1. Log a New Transaction – Add a new transaction like an income, expense, or investment.
2. Update Transaction – Modify an existing transaction’s details.
3. Set or Update Budget Limits – Define the spending limits for various categories.
4. Track Financial Progress – Monitor your current status against your set budget and goals.
5. Generate Financial Reports – Generate a summary report based on your financial transactions.
6. Set Savings Goal – Set a savings goal and track your progress towards it.
7. Set Spendings Goal – Set a limit for spending and track your adherence to the target.
8. Exit – Exit the program.

Example Workflow:

1. Start by setting a budget limit.
2. Log your daily expenses, incomes, or investments.
3. Set savings and spending goals based on your financial targets.
4. Track your progress over time and adjust your budget and goals as needed.