GestApp

Executive summary:

« Money » even the sound of it captures attention. Money has, and is still a powerful tool for commercial exchanges and taking it lightly would be a grave mistake.

As a foreign student since 4 years, I experienced a lot of stress due to money management issues. It has become an almost daily struggle to make a budget, let alone to stick to it.

In that train of thought, I decided to make a tool to help me structure my budget, this tool is also here to help anyone in an identical or similar situation.

That tool is a software (GestAPP, GAPP) made to automatize the process of sticking to a budget, with simple steps for the user to follow. I must emphasize on the fact that, the tool is not intended to make a budget for the user: the user still has to make a monthly budget that the software will help him stick on.

This here report is made to show to readers the process and research work I have gone through to make a tool from a necessity.

The report will be divided in 8 main parts and a conclusion:

This report is an updated version of the report we did by the end of 2018, I added information regarding the new features and tests I performed to render gestApp commercially viable, namely the MVP section.

I also updated the market section and the context segment.

Problem:

The main problem that I spotted when it comes to managing money is knowing the amount spent in “unpredictable expenses”(UE), those expenses are comprised of real emergencies, unconscious spending[1] (i.e. coffee, chewing gum, etc.) and impulsive spending. Moreover, the problem is not only knowing the amount of UE (Unpredictable Expenses) but also to adapt your budget accordingly when they happenThe problem that “Gapp” is solving is in general, the lack of control over one’s money, monitoring and
control over a budget allows the user to:

• Take in account his actual financial situation before making a financial decision (purchase, lend money, …)
• Reduce the amount of unforeseen expenses

In particular, “Gapp” solves the problem of knowing how much money one should spend on a daily basis:

Having a clear amount of money that a person can spend daily simplifies the process of managing a budget over a month, and ultimately over a year. That amount is computed based on a monthly amount that a user wishes not to exceed.

Solution:

The solution as stated in the problem section is to generate a daily amount of money the user is allowed to spend computed on the basis of a monthly amount calculated beforehand by the user(again, the software does not compute the money the user can spend, it is for him to figure that money) :

That monthly amount is the money the user is able to spend on a month, the “free to consume” money that the application will help him not exceed by proposing a daily planning for his money consumption.

The details will be explained further in the “technical aspect” section.

GestApp Added Value :

The features that makes me believe in the success of gestApp:

– Not intrusive:

GestApp needs from the client, only the amount that stays after paying recurrent fees such as the rent, tha money is generally money that we don’t have plans for. I believe that dividing that money equitably on the month helps creating balance and not over consuming in the beginning of the month when the finances seem to be healthy.

– The daily Free To Use Money :
No one Is immune to over consume from time to time, due to emergencies or even for leisure , that is why I believe The daily updates on how much a user can consume is an essential feature : it helps refocus on our finances, even if we over consumed on a given period, being aware of how it affects the overall monthly makes it easier to repair the damage.

Team:

MAHORO Dan Freeman