International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 12 Issue: 10 | Oct 2025
p-ISSN: 2395-0072
www.irjet.net
BudgetBuddy- Digital Finance Assistant Prof. Kalpana Sonval1, Mr. Krushna Gore2, Mr. Prashant Jadhav3, Miss. Vishakha Kadus4, Mr. Shreetej Mohite5 1Assistant Professor, Department of Computer Engineering,
Zeal College of Engineering & Research, Narhe, Pune – 411041, Maharashtra, India 2345BE Final Year, Department of Computer Engineering, Zeal College of Engineering & Research, Narhe, Pune – 411041, Maharashtra, India ---------------------------------------------------------------------***---------------------------------------------------------------------
Abstract - Effective personal financial management is a
This gap creates a pressing need for intelligent, user-friendly tools that can simplify financial management and promote better financial decision-making.
critical skill in today’s digital era, yet many individuals struggle due to low financial literacy, reliance on manual methods, and lack of intelligent tools. This paper presents BudgetBuddy – Digital Finance Assistant, an AI-powered platform designed to automate and optimize expense tracking, budget planning, and savings management. The system leverages Next.js for responsive front-end development, Supabase for secure database and authentication management, Prisma ORM for scalable data handling, Optical Character Recognition (OCR) for automated receipt processing, and AI/ML models for intelligent expense categorization and personalized recommendations. Key features include automated receipt scanning, multi-account support, budget threshold alerts, and AI-driven financial reports. The methodology follows the Agile Software Development Life Cycle (SDLC) to ensure iterative development and continuous feedback. Experimental evaluation highlights advantages such as real-time insights, secure authentication, and intelligent recommendations, while limitations include dependency on internet connectivity and OCR accuracy. Future enhancements include mobile app integration, multi-currency support, advanced predictive analytics, and explainable AI for transparency and trust. This work demonstrates the potential of AI-driven solutions to bridge the gap between technology and financial literacy, thereby improving personal finance management, increasing user engagement, and promoting long-term financial discipline.
BudgetBuddy – Digital Finance Assistant is developed to address these challenges. It is an AI-powered platform designed to automate expense tracking, budget planning, and savings management while enhancing financial literacy. The system integrates advanced technologies, including Next.js for responsive front-end development, Supabase for secure database and authentication management, Prisma ORM for efficient and scalable data handling, Optical Character Recognition (OCR) for automated receipt processing, and AI/ML models for intelligent expense categorization and personalized financial recommendations. The primary goal of BudgetBuddy is to simplify money management by providing automated categorization of expenses, threshold-based budget alerts, multi-account support, and actionable recommendations tailored to individual users. Unlike existing applications that focus solely on tracking expenses, BudgetBuddy incorporates explainable AI, offering transparency in its recommendations and integrating educational guidance to improve financial literacy. By combining automation, intelligent insights, and educational support, the platform empowers users to monitor spending habits effectively, make informed financial decisions, and develop long-term financial discipline. Through BudgetBuddy, this research aims to demonstrate how AI-driven solutions can bridge the gap between technology and financial literacy, creating a practical, accessible, and intelligent approach to personal finance management.
Key Words: Artificial Intelligence (AI), Machine Learning (ML), Personal Finance Management, Expense Tracking, Budget Planning, Optical Character Recognition (OCR)
1. INTRODUCTION
1.1 Motivation
In today’s digital economy, effective personal finance management has become an essential skill. However, many individuals, particularly students and young professionals, struggle with budgeting, saving, and tracking their expenses due to low financial literacy, inconsistent record-keeping, and reliance on inefficient manual methods such as spreadsheets or notebooks. Traditional approaches are often time-consuming, error-prone, and unable to provide meaningful insights into spending habits or financial trends.
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Impact Factor value: 8.315
Low Financial Literacy: A significant number of individuals lack the necessary knowledge and tools to manage their personal finances effectively. This often leads to poor budgeting, insufficient savings, and uninformed financial decisions, particularly among students and young professionals.
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