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Discussion on: I'm working on an Expense Tracking App and I need your feedback

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ktxxt profile image
Darko Riđić • Edited

From a financial standpoint you should have 5 budgets which your income divides into.

  1. Long term savings Savings - 10% Never touch it unless an accident, car fix, ...
  2. Self-investing - 10% Courses, knowledge, books, ...
  3. Fun - 10% Clothes, drinks, sweets, ...
  4. Financial Freedom - 10% Crypto, stocks, ...
  5. Necessities - 55% Gas, Bills, Food, ...

And live only from 5th budget

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pavelkeyzik profile image
Pavel Keyzik

I was thinking about making pages with the same page as Home, but let's say first will be "Personal" and second will be "My Startup". The idea to split income in budgets seems to be pretty great and I think I might think how to implement this v2, as for the first version I'd like to have something simple. Thank you for your comment, it's really really great idea 👍

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ktxxt profile image
Darko Riđić

When you implement it, ping me here. I'd like to use it since I've been tracking my finances trough Google Excel in the mentioned way with budgets.

Nice work so far! :D

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pavelkeyzik profile image
Pavel Keyzik

Thank you 😊

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hyggedev profile image
Chris Hansen

Great advice

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Hamid • Edited

Long term savings Savings - 5% Never touch it unless an accident, car fix, ...
Self-investing - 10% Courses, knowledge, books, ...
Fun - 5% Clothes, drinks, sweets, ...
Financial Freedom - 5% Crypto, stocks, ...
charity - 15% be a giver to needy person, relatives and helping someone...
Necessities - 50% Gas, Bills, Food, ...
And live only from 5th budget

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ktxxt profile image
Darko Riđić

Yeah, that's a lot better for sure. However, the whole point is to be financially aware of one's spendings, and trough out two-three months, one can master his finances and short-term cravings.

As it is very human to help others, the "Charity" budget should be low in beginning and grow as you grow your wealth. Depending on the situation.

Poor people exist because of many reasons. Some don't know how to manage their money, some become poor because of unfortunate accidents, etc. In my opinion, you should invest as much as possible, and later on help people with the accumulated money. And most importantly, after helping them, teach them how to manage it, grow their own vegetables, etc.