FINANCIAL PLANNING TOOL
First Claim
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1. An apparatus comprising:
- a memory comprising information regarding a plurality of financial transactions made by a person over a period of time in the past; and
a processor communicably coupled to the memory and configured to determine from the information stored in the memory which of the person'"'"'s financial transactions are regular and which of the person'"'"'s financial transactions are ad hoc.
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Abstract
Embodiment of the invention provide tools that take a person'"'"'s financial data (accumulated from one or multiple sources and financial institutions) and determines which transactions are regular and which are ad hoc and then projects future cash flow. In one embodiment, the tool is configured to use this projected cash flow data to make automatic recommendations on how the user can save money in the future based on known offers and/or transactions made by others.
209 Citations
27 Claims
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1. An apparatus comprising:
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a memory comprising information regarding a plurality of financial transactions made by a person over a period of time in the past; and a processor communicably coupled to the memory and configured to determine from the information stored in the memory which of the person'"'"'s financial transactions are regular and which of the person'"'"'s financial transactions are ad hoc. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. An apparatus comprising:
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a memory comprising information about a plurality of financial transactions made by a plurality of persons; a communication interface configured to communicate with a first person of the plurality of persons; and a processor communicably coupled to the memory and the communication interface, wherein the processor is configured to; identify a first financial transaction made by the first person, identify a second financial transaction made by a second person of the plurality of persons, wherein the second financial transaction is similar to the first transaction, compare the first financial transaction with the second transaction, and use the communication interface to inform the first person about an alternative to the first transaction, the alternative based as least partially on the comparison between the first financial transaction and the second financial transaction. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21)
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22. An apparatus comprising:
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a communication interface configured to receive information about a plurality of financial transactions made by a plurality of people; a memory; and a processor communicably coupled to the communication interface and the memory and configured to use the information about the plurality of financial transactions to develop a database in the memory, the database comprising a plurality of products and, for each product, information about a location where the product has been purchased and the average purchase price at the location. - View Dependent Claims (23, 24)
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25. A method comprising:
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receiving electronic communications comprising information about a plurality of financial transactions made by a plurality of persons; identifying a first financial transaction made or to be made by a first person; using a processor to identify a second financial transaction made by a second person of the plurality of persons, wherein the second financial transaction is similar to the first transaction; using a processor to compare the first financial transaction with the second transaction; and using a communication interface to inform the first person about an alternative to the first transaction, the alternative based as least partially on the comparison between the first financial transaction and the second financial transaction. - View Dependent Claims (26, 27)
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Specification