Ideaz

Real-World Problem:

Many students face difficulty managing their finances due to limited allowances, pocket money, or part-time income. Overspending on food, outings, subscriptions, and online shopping is common, leaving little for essentials or savings. Traditional budgeting apps are often complex, designed for working adults, and not suited to student lifestyles. As a result, students struggle with poor financial discipline, which impacts both daily life and future money management habits.

Gaps in Current Solutions:

Most existing finance apps focus on advanced features like investments, loans, or detailed tax tracking, which are unnecessary for students. The few simple expense trackers lack intelligent budgeting tools or personalized guidance. There is currently no widely available platform tailored to the needs of students learning to manage small budgets effectively.

Proposed Solution:

Pockit is a student-focused budgeting companion that helps track spending, control overspending, and build saving habits. The app will automatically categorize expenses into common student needs like food, travel, entertainment, and shopping. Students can set monthly or weekly budgets, and the app will send alerts when spending is close to the limit. Pockit will also suggest small saving practices, such as reducing unnecessary subscriptions or setting aside small amounts for goals like trips, gadgets, or books. By keeping the interface simple and student-friendly, Pockit ensures that financial management becomes easy and motivating rather than stressful.

Beneficiaries:

• Students – learn money discipline, avoid overspending, and start saving.

• Parents – gain confidence that their children are managing allowances responsibly.

• Community – builds financially aware young adults who are better prepared for future responsibilities.

Why This Matters to Me:

As a student, I have often seen my friends (and myself) run out of money before the end of the month, mostly because of untracked spending on food or outings. This made me realize that money management is a skill students need just as much as academic knowledge. Pockit matters to me because it offers a simple, practical solution that I wish I had – a tool that teaches financial discipline in small steps and makes students confident in handling their own finances.

Technical Details:

The app can be built with UPI and wallet integration for auto-tracking transactions, AI-based categorization of expenses, and smart budget alerts. Gamification elements like streaks for saving and rewards for staying within budget can be added to make money management engaging.