Designing an Expert System for Personal Financial Management

The significance of financial planning in individuals’ lives cannot be understated. People are transitioning from traditionally paper-based or tangible methods of tracking their finances to more digital-based approaches. However, recent studies indicate that the study on personal financial management systems is limited, and the traditional software did not meet the users’ needs. The current software lacks the ability to offer practical recommendations to users and direct them towards achieving their financial objectives. This study aims to design a personal financial management software that implements artificial intelligence techniques. A rule-based expert system technique was adopted to provide practical recommendations and support users in achieving their financial goals. Besides that, a prototype of the proposed system will be developed and evaluated by domain experts using a user perception survey. The results reveal that the respondents are satisfied with the design of the proposed system. The outcome of this study could provide practical recommendations that users can use to make informed financial decisions and accomplish their financial objectives.