Financial goals on MMEX

Discuss New Feature Requests and Enhancements to MMEX

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MlinMMEX
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Financial goals on MMEX

Post by MlinMMEX »

Hello,
Not urgent, but would it be interesting to have a feature of "financial goals", as a list of amount and dates to be set?

Let's open a forum discussion... ;) Regards. :idea:
frankieorabona
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Re: Financial goals on MMEX

Post by frankieorabona »

I understand your point, financial goals can be very subjective and vary from person to person. Some might want to save for a trip, others for a car or an emergency fund. However, more than just a simple list of amounts and dates, I have always found a detailed expense analysis with smart suggestions much more useful.

For example, MMEX could provide a deeper insight into our expenses and suggest strategies to save money.

💡 Example:
  • "You have spent too much on non-essential expenses"
    ➜ The system could suggest reducing expenses on streaming subscriptions (e.g., Netflix, Disney+, Paramount) by keeping only one active at a time.
  • "Your restaurant expenses are increasing"
    ➜ It could warn you that in the last 3 months, you have spent more than usual on restaurants and suggest reducing by 20%.
In short, a function that not only shows your expenses but also helps you make better financial decisions.

Maybe this is where our approach to saving differs 😆. I try to trim expenses as much as possible because I have limited funds, while I hope you are so wealthy that you only think about accumulating money for some luxurious financial goals! 😜

These would still be two great features to see implemented… the financial goals feature might be easier to achieve, while the second one, in my opinion, would require something capable of recognizing expenses. Maybe a GPL chat module or an artificial intelligence that analyzes data more intelligently.

What do you think?
MlinMMEX
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Re: Financial goals on MMEX

Post by MlinMMEX »

These could be goals for personal finance... Some of them may be related to the process, others, the motivations and reasons to get richer...
(taken from MS Money adver...)

BOLD = Supported with MMEX, IMHO.

KEEP YOUR FINANCES IN SHAPE
Balance your checkbook
Cash Flow Insights give you a glance at spending
Automatically categorize spending

Bills Insights show upcoming and overdue bills
Know which bills are paid and due
Enhanced background banking keeps information up-to-date

IMPROVE YOUR FINANCIAL PICTURE
Create and manage a budget
Link to statements, checks, or images from a transaction
Stay on top of credit and debt
Spending insights help you stay on top of spending

Plan for retirement, college, and other goals

MANAGE TAXES
Export to tax preparation software
Estimate taxes and find hidden deductions
Minimize capital gains taxes

MANAGE INVESTMENTS
Analyze your portfolio, manage 401(k) and IRA
Track U.S. markets, commodities, currencies, and more
Make tax-smart investment choices

MANAGE YOUR SMALL BUSINESS
Create estimates and invoices
View business reports and graphs
Do your payroll online
Monigot invoices and receivables
Track Schedule C items