WalletWise: the smart application to secure your financial future / Abdul Rasyid Mu’az Abdul Khalid ... [et al.]

The Star had reported that there were over 10,000 youth who filed for bankruptcy in 2020. This surprising figure could have a devastating impact on the person's financial future like difficult to obtain loans, employment opportunities and others. One of the factors being bankruptcy is the rising cost of living. The cost of housing, education, living expenditure, medical and so on has all increased in recent years, making it difficult for people to make ends meet. Studies proved that majority of youth do not have adequate financial knowledge they need to manage their money effectively has make the issue even worse. This where WalletWise come aiming to help youth with financial planning education, budgeting, and debt management to reduce the risk of bankruptcies among youth. For achieving the objective, WalletWise which is a user-friendly and easily accessible applicationis introduced. WalletWise is developed to assists its user from being financially distress and at the same time providing information about financial resources like government’s assistance program and credit counselling services. These features are useful to help someone deep in depth to get into their feet back. WalletWise comes with such features as zakat calculator, tax calculator, cash budget planner, financial library and community forum which make it more comprehensive as compared to existing similar application in market; for the youth to use it to do financial decision and to face any financial challenge ahead. With the feature of cash budget planner, it helps people to track their monthly budget and achieve their savings target. As other gains of WalletWise, not only it is a valuable tool for effective financial management, but also help those who are struggling with debt or are at risk of bankruptcy with proper channel of assistance.