SYSTEM AND METHOD FOR COLLABORATIVE BUDGET TRACKING
To enable collaborative budget tracking, a budget tracker application can be downloaded and installed on a plurality of mobile devices that communicate on a peer-to-peer network. The budget tracker application comprises a master budget control module that enables a budget administrator to create a budget plan and advertise the budget plan to potential subscribers. The budget tracker application also includes an expense recording module that enables subscribers to enter expense data and submit the expense data to the master budget control module which records the expense data, updates the budget plan, and publishes any relevant updates to the subscriber devices.
1 . A method for managing a budget comprising:
executing a master budget control module in a first mobile device, executing the master budget control module comprising:
creating a budget plan;
receiving at least one expense record into the first device from at least one second mobile device; and
incorporating the at least one expense record into the budget plan.
2 . The method of claim 1 comprising receiving the at least one expense record through a peer-to-peer network.
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4 . The method of claim 1 comprising advertising the budget plan to the at least one second mobile device.
5 . The method of claim 4 comprising:
receiving an indication of the budget plan into the at least one second mobile device;
generating a subscription request in the at least one second mobile device; and
providing the subscription request from the at least one second mobile device to the first device.
6 . The method of claim 4 comprising receiving a subscription request from at least one second mobile device and subscribing the requesting device to the budget plan.
7 . The method of claim 6 comprising publishing one or more budget plan updates to one or more devices subscribed to the budget plan.
8 . The method of claim 7 wherein the one or more updates comprise at least one expenditure alert.
9 . The method of claim 1 comprising:
receiving an expenditure request from a requesting device into the master budget control module;
referencing the budget plan to determine an approval for the expenditure request; and
providing an indication of the approval to the requesting device.
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