Develop An Expense Tracking System using Python

Published on 19 May 2022. Written by Athulya Menon

Being an adult is about being able to manage your finances properly. You don’t want a situation wherein you are only half-way into your month and already out of cash. Most of us millennials have a habit of overspending if we have too much money with us. Also, with so much exposure to online media and shopping, it doesn’t surprise me that most people can’t seem to make it to the end of the month without going broke! What if I told you there’s a simple way to put your love for coding to some good use! Use your Python knowledge to create a handy expense tracker to make sure you end the month with enough money in your wallet.

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Here’s a look at a simple Python project that will help you keep your finances in check.

Project Description

A daily Expense Tracker is a tool that allows users to keep track of their spending to ensure that they stick to a budget and don’t go overboard. Such a system will incorporate several modules to provide an intuitive and user-friendly interface. Users should be given the option to input expenses and also add credits, salaries, refunds, and bonuses. They should also get notified whenever they seem to be going off-track. Including the option of setting a daily budget or spending limit can also help users as then they can monitor how much they are spending on a daily basis. Such a tool will prove to be beneficial to all kinds of people, including home-makers who are on a strict budget and college going students who have to get by with monthly pocket-money! Analyzing the inputs made to this tool will help users understand what they spend the most money on so that they can devise ways to cut back on spending on that particular item.

Concepts Used

• Python Programming
• Logic Control and Algorithm Fundamentals
• Database Management
• Cyber Security
• Data entry and processing
• Data Analytics

Hardware and Software Used

1. A suitable OS such as Windows/Linux/Mac
2. A desktop or laptop with enough Disc storage
3. Enough RAM to run the program
4. Python 2 and upwards pre-installed in the system
5. Visual Studio
6. SQL
7. Dual Core Processor
8. Libraries: Mercurial and Matplotlib

Modules Required:

• User Registration Module
• User Login Module
• Expense addition Module
• Income addition Module
• Generation of Income-Expense Graph
• Savings Module
• Carryover Module
• Recurring Expense Module

Features

1. Store income-expense information in a database
2. Encrypt the information to maintain user privacy and prevent pilferage
3. Maintain a record of all transactions and expenses
4. Create basic reports and plot expenses

Project Implementation

• Create a simple, yet intuitive interface using PySimpleGUI. This will help in creating a user-friendly interface that is adaptable and customizable.
• Next, import Python libraries such as pandas and matplotlib.
• pandas will help with data analytics, whereas matplotlib will help the application plot graphs.
• Create a database on SQLite to store the data related to expenses and income.
• Every time, the user inputs an expense or credit, the input must be docked into this database.
• Create a registration portal that will create a user profile within the application.
• Next, code and design a login page which will use a simple password initiation or authentication process to allow users enter into their profiles. These graphs will give a visual representation of the user’s expenses which helps users gain valuable insight into their spending patterns.
• Including a reminder and intimation functionality will also greatly benefit the user. This reminder function requires the application to gain access to a device’s UI.
• For advanced users, they can try adapting a CRUD web app using API technology which will automate credit card and debit card expenses.
• Zapier can receive forwarded emails from Gmail or any other email service provider and then read it out onto Google sheets as an HTTP Post.

Kit required to develop Develop An Expense Tracking System using Python:

• No kit required

Technologies you will learn by working on Develop An Expense Tracking System using Python:

• Python
• C Programming

Any Questions?