Optimizing Financial Knowledge through Finovest: A Web-Based Finance Management System with Ai-Powered Multilingual Support

Abstract—Financial knowledge plays a crucial role in personal financial management, yet many individuals struggle with effective budgeting, saving, and expense tracking. Finovest, a web-based financial management system, is designed to enhance financial knowledge using the 6-Jar Concept, an income segregation method that promotes disciplined spending and saving. The system incorporates key functionalities such as income-expense tracking, budget allocation, goal-based savings, and interactive financial insights. Developed using an object-oriented approach, Finovest ensures modularity, scalability, and ease of use. The methodology follows the Object-Oriented Life Cycle Model, starting with requirement analysis to identify user needs, followed by system structuring using object-oriented analysis (OOA). The system’s core components—User, Income, Expense, Budget, Jar Allocation, and Reports—are mapped to ensure a seamless user experience. Object-oriented design principles such as encapsulation and inheritance enhance system efficiency, while PHP, MySQL, HTML, CSS, and JavaScript form the foundation of development. An AI-powered Google Translate NLP module is integrated to provide multilingual support, improving accessibility and inclusivity for users from diverse linguistic backgrounds. Testing methodologies, including unit testing, integration testing, and user acceptance testing, ensure the system’s reliability and security. Finovest’s implementation provides users with a simplified yet powerful interface for managing finances. The automated budgeting system, coupled with visual tools like pie charts and income distribution graphs, enhances financial decision-making. By offering goal-based savings, Finovest encourages users to set and achieve financial milestones effectively. The system's user-friendly design and language adaptability ensure accessibility for students, professionals, and business owners alike. Through its structured and AI-enhanced approach, Finovest significantly improves financial awareness and discipline, making money management more efficient and goal-oriented for users worldwide.