Budget alert display in an electronic device to prevent over-budget transactions

1 . An electronic device comprising:

a display;

a communication system by which the electronic device communicates, via a communication network, with one or more application computer systems;

a location sensor which senses a current location of the electronic device;

a memory having stored thereon a budget alert (BA) module for presenting budget alerts for at least one budget category, and applications comprising a banking application for accessing a banking application database; and

at least one processor communicatively coupled to the display, the communication system, the location sensor, and the memory, the at least one processor executing program code of the budget alert module, which configures the electronic device to:

detect a trigger indicative of an intended transaction that falls within a first budget category having a budgeted amount for at least one budget period, wherein the trigger comprises movement of the electronic device to a pre-identified transaction location among stored pre-identified transaction locations, and to detect the trigger, the at least one processor: monitors, via the location sensor, for changes in a current location of the electronic device; determines, in part via current location data received from the location sensor, location services of a navigation application, and the stored pre-identified transaction locations, if the electronic device has moved to the pre-identified transaction location;

in response to detecting the trigger, transmit, by the communication system over the communication network to a budget tracking repository, a request for budget data, the budget data including a corresponding first budget amount and first current spend amount associated with the first budget category for the at least one budget period, the budget tracking repository accessible, via the banking application of the electronic device, over the communication network;

receive, in response to the request for budget data, the budget data via the communication network from the budget tracking repository;

transmit, by the communication system over the communication network to a transaction data repository accessible via the communication network and different from the budget tracking repository, a request for transaction data associated with the intended transaction;

receive, in response to the request for transaction data, the transaction data from the transaction data repository via the communication network;

identify, by execution of the BA module, an over-budget condition by determining that a first sum of a first payment amount for the intended transaction and the first current spend amount is greater than the first budget amount; and

in response to identifying the over-budget condition, present a first budget alert on the display, the first budget alert indicating that the first budget amount will be exceeded if the intended transaction is completed within the at least one budget period.

2 . The electronic device of claim 1 , wherein the processor further enables the electronic device to:

identify the first payment amount for the intended transaction, by enabling the electronic device to:

access a current cost listing for the intended transaction from an online retailer of the intended transaction; and

identify lower priced alternatives for the intended transaction and present a notification that lower priced alternatives for the intended transaction are available.

3 . The electronic device of claim 1 , wherein to detect the trigger, the at least one processor:

detects initiation of at least one shopping application; and

initiates processes resulting in presentation of the first budget alert on the display, in response to detecting initiation of the at least one shopping.

4 . The electronic device of claim 1 , wherein the at least one processor:

identifies a first transaction type and the first payment amount for the intended transaction based on the transaction data; and

identifies, from among a plurality of budget categories, the first budget category corresponding to the first transaction type.

5 . The electronic device of claim 1 ,

wherein the at least one processor:

in response to determining the electronic device has moved to the pre-identified merchant location, initiates processing to determine whether the intended transaction, at the pre-identified merchant location, causes an over-budget condition that results in presentation of the first budget alert.

6 . The electronic device of claim 5 , wherein the at least one processor:

in response to determining the electronic device has moved to the pre-identified merchant location, retrieves a first average spend amount associated with previous transactions at the pre-identified merchant location;

determines if the first average spend amount, when added to the first current spend amount, is greater than the first budget amount; and

in response to determining that the first average spend amount, when added to the first current spending amount, is greater than the first budget amount, presents a second budget alert on the display, the second budget alert indicating that the electronic device is at the pre-identified merchant location where the first budget amount may be exceeded.

7 . The electronic device of claim 1 , wherein the at least one processor:

in response to transmitting the request for budget data, receives, from the budget tracking repository over the network, budget data of a plurality of budget categories including the first budget category, with corresponding budget amounts and current spend amounts for each of the plurality of budget categories for the at least one budget period;

combines budget amounts for each of the plurality of budget categories to provide an overall budget amount;

combines current spend amounts for each of the plurality of budget categories to provide an overall current spend amount;

determines if a second sum of the first payment amount and the overall current spend amount is greater than the overall budget amount; and

in response to determining the second sum is greater than the overall budget amount, initiates presentation of a second budget alert on the display, the second budget alert indicating that the overall budget amount will be exceeded if the intended transaction is completed within the at least one budget period.

8 . The electronic device of claim 1 , wherein the at least one processor:

presents a first graphical user interface (GUI) on the display, the first GUI including the first budget alert and a first user-selectable option to cancel the first intended transaction; and

in response to detecting selection of the first user-selectable option, cancels the first intended transaction.

9 . The electronic device of claim 1 , wherein the at least one processor:

presents a first graphical user interface (GUI) on the display, the first GUI including the first budget alert and a second user-selectable option to continue the intended transaction; and

in response to detecting selection of the second user-selectable option:

triggers completion of the intended transaction;

calculates a second current spend amount of the first budget category by adding the first payment amount to the first current spend amount; and

stores the second current spend amount.

10 . The electronic device of claim 1 , wherein the at least one processor:

presents a first graphical user interface (GUI) on the display, the first GUI including the first budget alert and a third user-selectable option to schedule the intended transaction at a later time; and

in response to detecting selection of the third user-selectable option, identifies a second budget period and schedules the intended transaction for completion during the second budget period.

11 . The electronic device of claim 10 , wherein the at least one processor:

determines if a current budget period corresponds to the second budget period; and

in response to determining that the current budget period corresponds to the second budget period, automatically completes one of:

(i) execution of the scheduled intended transaction, with a notification that the scheduled intended transaction was completed; or

(ii) presentation of a second user interface including a notification that the intended transaction was scheduled to be completed in the second budget period, which is the current budget period, and a selectable option for completing the intended transaction or not completing the intended transaction during the second budget period.

12 . The electronic device of claim 1 , wherein the at least one processor:

presents a first graphical user interface (GUI) on the display, the first GUI including the first budget alert and a fourth user-selectable option to schedule installment payments for the intended transaction;

in response to detecting selection of the fourth user-selectable option, calculates installment payment amounts for a plurality of future budget periods for the intended transaction;

determines if the installment payment amounts for the plurality of future budget periods for the intended transaction are less than corresponding budgeted amounts for the future budget periods;

in response to determining that the installment payment amounts for the plurality of future budget periods for the intended transaction are less than corresponding budgeted amounts for the future budget periods, schedules the installment payments during the plurality of future budget periods; and

triggers completion of the intended transaction via installment payments during the plurality of future budget periods.

13 . A method comprising:

detecting, via at least one processor of an electronic device executing instructions of a budget alert (BA) module, a trigger indicative of an intended transaction that falls within a first budget category having a budgeted amount for at least one budget period, wherein the trigger comprises movement of the electronic device to a pre-identified transaction location among stored pre-identified transaction locations, and detecting the trigger comprises:

monitoring, via a location sensor of the electronic device, for changes in a current location of the electronic device; and determining, in part via current location data received from the location sensor, location services of a navigation application, and stored pre-identified transaction locations, if the electronic device has moved to the pre-identified transaction location;

in response to detecting the trigger, transmitting, via a communication system of the electronic device over a communication network to a budget tracking repository, a request for budget data, the budget data including a corresponding first budget amount and first current spend amount associated with the first budget category for the at least one budget period, the budget tracking repository accessible, via a banking application of the electronic device, over the communication network;

receiving, in response to the request for budget data, the budget data via the communication network from the budget tracking repository;

transmitting, by the communication system over the communication network to a transaction data repository accessible via the communication network and different from the budget tracking repository, a request for transaction data associated with the intended transaction;

receiving, in response to the request for transaction data, the transaction data from the transaction data repository via the communication network;

identifying, via further execution of the BA module, an over-budget condition by determining that a first sum of a first payment amount for the intended transaction and the first current spend amount is greater than the first budget amount; and

in response to identifying the over-budget condition, presenting a first budget alert on a display, the first budget alert indicating that the first budget amount will be exceeded if the intended transaction is completed within the at least one budget period.

14 . The method of claim 13 , wherein to identify the first payment amount for the intended transaction, the method further comprises at least one of:

retrieving historical data for purchase of a similar item as the intended transaction;

accessing a current cost listing for the intended transaction from an online retailer of the intended transaction; and

identifying lower priced alternatives for the intended transaction and presenting a notification that lower priced alternatives for the intended transaction are available.

15 . The method of claim 13 , wherein to detect the trigger, the method further comprises:

detecting initiation of (i) at least one shopping application or (ii) at least one payment; and

initiating processes resulting in presentation of the first budget alert, in response to detecting initiation of either (i) at least one shopping application or (ii) at least one payment, which is evaluated to potentially cause an over-budget condition.

16 . The method of claim 13 , further comprising:

identifying a first transaction type and the first payment amount for the intended transaction based on the transaction data; and

identifying, from among a plurality of budget categories, the first budget category corresponding to the first transaction type.

17 . The method of claim 13 , wherein the method further comprises:

in response to determining the electronic device has moved to the pre-identified merchant location, initiating processing to determine whether the intended transaction, at the pre-identified merchant location, causes an over-budget condition that results in presentation of the first budget alert.

18 . The method of claim 17 , further comprising:

in response to determining the electronic device has moved to the pre-identified merchant location, retrieving a first average spend amount associated with previous transactions at the pre-identified merchant location;

determining if the first average spend amount, when added to the first current spend amount, is greater than the first budget amount; and

in response to determining that the first average spend amount, when added to the first current spending amount, is greater than the first budget amount, presenting a second budget alert on the display, the second budget alert indicating that the electronic device is at the pre-identified merchant location where the first budget amount may be exceeded.

19 . The method of claim 13 , further comprising:

in response to transmitting the request for budget data, receiving, via the communication system from the budget tracking repository over the network, budget data of a plurality of budget categories including the first budget category, with corresponding budget amounts and current spend amounts for each of the plurality of budget categories for the at least one budget period;

combining budget amounts for each of the plurality of budget categories to provide an overall budget amount;

combining current spend amounts for each of the plurality of budget categories to provide an overall current spend amount;

determining if a second sum of the first payment amount and the overall current spend amount is greater than the overall budget amount; and

in response to determining the second sum is greater than the overall budget amount, initiating presentation of a second budget alert on the display, the second budget alert indicating that the overall budget amount will be exceeded if the intended transaction is completed within the at least one budget period.

20 . A computer program product comprising:

a non-transitory computer readable storage device having stored thereon program instructions of a budget alert (BA) module which, when executed by at least one processor of an electronic device having a display, a communication system, and a memory, configures the electronic device to complete functionality comprising:

detecting a trigger indicative of an intended transaction that falls within a first budget category having a budgeted amount for at least one budget period, wherein the trigger comprises movement of the electronic device to a pre-identified transaction location among stored pre-identified transaction locations, and detecting the trigger comprises:

monitoring, via a location sensor of the electronic device, for changes in a current location of the electronic device; and determining, in part via current location data received from the location sensor, location services of a navigation application, and stored pre-identified transaction locations, if the electronic device has moved to the pre-identified transaction location;

in response to detecting the trigger, transmitting, by the communication system over a communication network to a budget tracking repository, a request for budget data, the budget data including a corresponding first budget amount and first current spend amount associated with the first budget category for the at least one budget period, the budget tracking repository accessible, via a banking application of the electronic device, over the communication network;

receiving, in response to the request for budget data, the budget data via the communication network from the budget tracking repository;

transmitting, by the communication system over the communication network to a transaction data repository accessible via the communication network and different from the budget tracking repository, a request for transaction data associated with the intended transaction;

receiving, in response to the request for transaction data, the transaction data from the transaction data repository via the communication network;

identifying, via further execution of the BA module, an over-budget condition by determining that a first sum of a first payment amount for the intended transaction and the first current spend amount is greater than the first budget amount; and

in response to identifying the over-budget condition, presenting a first budget alert on the display, the first budget alert indicating that the first budget amount will be exceeded if the intended transaction is completed within the at least one budget period.