Personal Finance Assistant With AI

Abstract

In today's digitally driven and fast-paced
world, effectively managing personal finances has
become increasingly complex due to diverse income
streams, fluctuating expenses, and the need for
informed financial planning. This project proposes
the development of an AI-powered Personal
Finance Assistant that empowers users to take full
control of their financial well-being by intelligently
tracking expenditures, managing budgets, setting
savings goals, and offering personalized investment
insights. Leveraging the capabilities of Natural
Language Processing (NLP) and Machine Learning
(ML), the system analyzes financial transaction data
from various sources—including bank accounts,
credit cards, and digital wallets—to automatically
categorize expenses, identify spending patterns, and
generate tailored financial advice. It offers
comprehensive budget tracking, monitors savings
progress, and provides users with real-time,
personalized alerts on overspending, investment
opportunities, and credit utilization. A key feature of
the assistant is its ability to deliver predictive
analytics, such as forecasting future expenditures
and recommending optimal saving and investment
strategies based on the user's unique financial
profile. The system ensures a holistic view of
financial health by aggregating data and providing
actionable insights that evolve with the user's
financial behavior over time. The platform includes
an intuitive mobile and web interface, allowing
users to visualize financial summaries, configure
goals, and interact with AI-driven guidance. By
delivering data-driven, personalized, and proactive
financial support, this project aims to foster smarter
money management habits and enhance users' longterm
financial stability.