Fin-Literate: Financial Literacy App Powered by LLMs

Problem:

Financial illiteracy is a widespread problem, with many people lacking the knowledge and skills to manage their money effectively. This can lead to poor financial decisions, debt accumulation, and difficulty achieving financial goals.

Solution:

A financial literacy app powered by LLMs can address this problem by providing personalized, accessible, and engaging financial education.

Key Features:

1. Personalized Financial Coach: The LLM acts as a virtual financial coach, understanding the user's financial situation, goals, and learning style. It can provide tailored advice on budgeting, saving, investing, debt management, and other financial topics.

2. Interactive Financial Learning: The app offers interactive learning experiences, such as quizzes, simulations, and games, to make financial education fun and engaging. The LLM can generate questions, provide feedback, and adapt the learning experience based on the user's progress.

Next Iteration Features:

1. Natural Language Interface: Users can interact with the app through natural language, asking questions about financial concepts, seeking advice, or receiving explanations in simple, easy-to-understand terms.

2. Financial News and Insights: The app can use LLMs to curate and summarize relevant financial news articles, providing users with timely and actionable insights.

3. Community Forum: The app can include a community forum where users can connect with others, share experiences, and ask questions. The LLM can moderate the forum, answer questions, and provide additional support.

Benefits:

• Increased Financial Literacy: The app can significantly improve users' financial literacy, empowering them to make informed financial decisions.
• Improved Financial Well-being: By providing personalized guidance and support, the app can help users achieve their financial goals and improve their overall financial well-being.
• Increased Engagement: The interactive and personalized nature of the app can make financial education more engaging and accessible, leading to increased user participation and retention.
• Reduced Financial Anxiety: The app can help reduce financial anxiety by providing users with the knowledge and tools they need to manage their finances effectively.

Target Audience(Usefulness):

This app would be beneficial for a wide range of users, including:

• Young adults who are just starting to manage their finances.
• Individuals with limited financial knowledge or experience.
• Those who are struggling with debt or other financial challenges.
• Anyone looking to improve their financial literacy and well-being.
• Partnerships with Financial Institutions: The app can partner with banks and other financial institutions to offer their products and services to users.

By leveraging the power of LLMs, this financial literacy app can revolutionize the way people learn about and manage their finances, leading to a more financially literate and empowered society.

Running Instructions:

Install dependencies

• pip install -r requirements.txt

Run the app

1. Input your API key (Manage your keys here) to access Gemini flash(line #31 in FinLiterate/app.py)
2. python app.py
3. Input a financial query which you want to be answered or just enter to be set to a default one
4. The suggestions will appear in text and the quiz will get launched. Click the public URL to access the same