Personal finance refers to the financial decisions which an individual or a family unit is required to make to obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.
Personal finance management is very important and useful in long term. Each individual should know about his or her spending habits as well as earning sources.
This application works as a small accounting software where we need to take input from the users, do some calculation inside and store these calculation and user input inside the database.
We need to design some forms to take input from the users. For ex. Form to take input of bills such as telephone, electricity or credit cards.
Once we take input, we will add all these values according to dates ( Weekly, Daily and Monthly Basis) and store them into our database.
We can add as many forms as user needs and store them accordingly. Sometime we need to use complex formula such as finding interest on amount or things like that , but that can be easily done using loops and variables.I am giving you some projects below from open source community which help you to understand this topic more.
Jgnash : jGnash is a cross platform personal finance application.It is a double entry system with support for multiple currencies.
Personal Finance Manager: Multi-user Personal Finance Manager web application. It helps you to manage and reconcile accounts and transactions; track income and expenses.It uses Jquery based ajax form submission to eliminate page reloads.
MyFina : MyFina(My Finance) is a web-based personal finance and budgeting program for managing accounts and expenses. The system aimed at those who have little or no financial background to gain control over their money.
PHP Finance System: phpfin is a well known finance manager. It gives you complete control over your finances from budgeting and scheduling transactions to email alerts.