SafetyNet

Inspiration

Unexpected layoffs or financial emergencies can have a significant impact on people's lives, and having a safety net in place can help provide some peace of mind during difficult times.

The inspiration for the safety net app is to provide users with a tool to help them calculate their financial safety net and prepare for potential financial hardships. By empowering users with the information they need to make informed financial decisions, the app aims to help individuals and families protect their financial future and achieve greater financial security.

What it does

This hack aims to develop a tool that helps people calculate their financial safety net in case of unexpected events such as layoffs, illness, or natural disasters. The tool will use income information to provide personalized recommendations for how to build and maintain a safety net.

Purpose

Encouraging people to take proactive steps to build their safety net and prepare for the possibility of financial hardship Helping people feel more financially secure in the face of unexpected events Increasing financial literacy and understanding of how income and expenses affect the overall financial health Potentially reducing reliance on government assistance programs by empowering people to better manage their finances

How we built it

We developed the front-end using React/Javascript and developed the end points using Flask and python. We were able to host end points using Heroku to allow the front end to access necessary data calculations.

Challenges we ran into

Integrating with existing financial planning software or apps Ensuring the tool accurately calculates the safety net based on user inputs

Accomplishments that we're proud of

Completed basic functionality of our application. Learned new languages/frameworks and learned more about development.

What we learned

What's next for SafetyNet

Overall, the Financial SafetyNet could have a significant impact on people's financial well-being by helping them prepare for a range of unexpected events. It could be developed as a standalone tool or integrated into existing financial planning software or apps.