MUMBAI, India, July 13 -- Intellectual Property India has published a patent application (202621059483 A) filed by Dr. D. Y. Patil Institute Of Technology, Pimpri, Pune - on May 11, 2026, for Budgeting Pft: Financial & Time Intelligence.
Inventors include Prof. Sharad Adsure; Mr. Soham Sadakal; Mr. Prasad Kedari; Mr. Kaushal Pokarne; Mr. Parth Pakhare; and Mrs. Vasudha Phaltankar.
The application for the patent was published on July 10, 2026, under issue no. 28/2026.
Abstract: Managing personal finances efficiently is important for financial stability and better planning. This project aims to develop a personal finance tracker website that helps users keep track of their income, expenses, and savings while also providing budgeting and expense prediction features. The website will allow users to record their transactions, categorize expenses, and analyze spending habits through visual charts. A budgeting feature will enable users to set monthly spending limits and receive alerts when the spending trend points towards fund insufficiency. Many individuals struggle to effectively manage their personal finances due to a lack of organization, tracking tools, and financial awareness. As a result, people often face challenges such as overspending, failing to save, and not being able to set or meet financial goals. Existing manual methods or scattered tools like spreadsheets or paper budgeting often lead to errors, inefficiency, and a lack of real-time financial insight. Additionally, many people lack an automated and streamlined way to track income, categorize expenses, and stay within budget. This leads to financial mismanagement, missed savings opportunities, and an inability to forecast future expenses. As financial decisions become more complex and financial literacy continues to be a struggle, there is a need for a system that alerts users when they exceed their budget and provides a clearer understanding of their financial status. The project will also include an expense prediction feature that uses past spending data to estimate future expenses, helping users plan accordingly. The website will be built using Python with Flask, FastAPI, or Django for the backend based on upcoming needs, while the frontend will be developed using HTML, CSS, and JavaScript. Front- end libraries like React may be used if necessary. Data will be stored using SQLite or PostgreSQL, and financial trends will be displayed using Chart.js, Matplotlib, or Plotly. Further, sending the data to an external service like Power BI. In the future, features like user authentication, cloud storage, and AI- driven financial recommendations could be added as a part of budgeting. This project will help users become more aware of their spending patterns and develop better financial habits. It is a useful tool for students and working professionals who want to track and manage their expenses without relying on complex financial software. The aim is to create a simple and engaging platform that makes financial tracking easy and accessible for everyone. The uniqueness of the project lies in its unique feature called "Time Skill Valuation." This will automatically help users, especially students, to value their time by displaying the estimated cost of the time they could have spent on learning employable skills. Thus, motivating them to remain consistent in skill building.
Disclaimer: Curated by HT Syndication.
