Executive Summary:
We all spend money and use cards to make transactions. All of
us would like an easy method to track our transactions to understand spending
patterns and make wise financial decisions. I personally do all my transactions
through my debit card and my checking account and I currently track my spending
history manually. I wanted to have a system where I can create a budget and
track my spending to understand my spending patterns.
Hence, I have created a workbook that will let me create a
budget, divide my spending transactions into specific categories and provide a
report of my spending pattern based on my transactions in my Wells Fargo
Account.
The “WellsFargo_BudgetPlanner_Reporter” workbook allows the
user to do the following things.
1)
It
allows the user to login and download the transaction information for the user
specified time period/month from their Wells Fargo Account.
2)
It allows the user to add/remove and classify
categories such as Rent, Food etc. to categorize the transactions.
3)
It allows the user to allocate Budget to added
categories.
4)
It
allows the user to provide categories for List of frequently Used Vendors /
Transactions and automatically categorize those transactions.
5)
It
also provides a user form to manually categorize other transactions.
6)
It summarizes
the budgeted and actual spending of the user and also provides deviances
between the two. It also provides a graphical chart of the above results and
the Actual spending breakout.
This kind of analysis will help me keep a track of my budget,
understand my budget patterns and provide insights about my spending and would
put me in a better position to plan and spend money.
Implementation:
All
these activities could be performed by the forms under the customized “Budget”
ribbon. The “Login and Download Statement” form lets you login and download
your transactions. The “Add or Remove Category” form lets you add or remove
categories for your transactions. The “Add Budget” form lets you add your
budget for the categories. The “Automatically Categories” form lets you add
list of frequently used vendors with their categories and also automatically
categorizes your transactions. The “Manually Categorize Data” form lets you to
manually categorize your data. The “See Budget Results” form lets you to see
the summarized budgeted and actual spending data with variances. It also
provides a bar chart of the spending breakout and a column chart of the Budget
results.
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