This is our Course Project
eWallet developed to help people by monitoring their cash flow and by giving financial advices. in eWallet we have four sections:
- Income - the money which you take in certain period of time, usually in one month.
- Outcome - the money which you spend in certain period of time, usually in one month.
- Assets - it's your other ways to make a money without spending your time for job. Example: your actions, bonds and business.
- Liabilities - it's you'r depth, credit or other thing which take your money.
Cash flow - it is your profit wich remains after spending your outcome. Cash flow = income - outcome.
Capital is a term for financial assets or their financial value (such as funds held in deposit accounts), as well as the tangible factors of production including equipment used in environments such as factories and other manufacturing facilities
The main and usefull financial strategies are:
- to increase income
- to decrease outcome
- don't spend your profit for non-necessary thing, spend your profit to assets, which give you additional profit.
- don't use creadit, don't increase your liabilities, you may use debt in situation when you very well analized market, you have a plan and necessary knowladge about you niche.
The problems which you may meet:
- The main problem is that people don't understand the difference between assets and liabilities.
- People want's to take and then give, investers give and then take
- People don't things about assets, their cash flow bounded between income and outcome.
- don't scare to lose, winners are people which win their fear to lose money. Because, if people scare to lose, they never have a risk.