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In this digital era, managing a personal budget can be easily facilitated by an established tracking system. One viable and effective option to actualize this managerial prowess is through employing SQL, a standardized programming language maneuverable for database management. This blog post is set to guide you towards developing a personal budget planning and tracking system with SQL using examples of SQL code.
SQL Tables for Personal Budget Planning
The first step you would need to take in creating such a system is to define your tables. In this particular scenario, at least three tables will be necessary: one for income, one for expenses and a third to track monthly totals.
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CREATE TABLE Income( ID INT PRIMARY KEY, Date DATE, Amount DECIMAL(7,2), Source VARCHAR(100) ); CREATE TABLE Expenses( ID INT PRIMARY KEY, Date DATE, Amount DECIMAL(7,2), Category VARCHAR(50), Description VARCHAR(100) ); CREATE TABLE MonthlyTotals( Month DATE PRIMARY KEY, IncomeTotal DECIMAL(7,2), ExpensesTotal DECIMAL(7,2), NetIncome DECIMAL(7,2) ); |
SQL Queries for Personal Budget Planning
In SQL, the SELECT statement is central to extracting information from the database. As such, we will use it to keep tabs on our income, expenses and net income every month in our budget tracking system.
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INSERT INTO Income (ID, Date, Amount, Source) VALUES (1, '2021-06-25', 5000, 'Salary'); INSERT INTO Expenses(ID, Date, Amount, Category, Description) VALUES (1, '2021-06-26', 50, 'Groceries', 'Grocery shopping'); INSERT INTO MonthlyTotals(Month, IncomeTotal, ExpensesTotal, NetIncome) VALUES ('2021-06-01', 5000, 50, 4950); |
Tracking Your Budget with SQL
Finally, you’ll want to know how your budget management is faring. You can achieve this through executing a SQL query that computes your overall net income.
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SELECT Month, IncomeTotal, ExpensesTotal, (IncomeTotal - ExpensesTotal) AS NetIncome FROM MonthlyTotals ORDER BY Month; |
Conclusion
A personal budget planning and tracking system is essentially a valuable and intriguing application of SQL. As clear-cut from the SQL codes in our examples, developing such a system is no difficult task, provided one takes their time to learn SQL and understand its primary operations for effective database management.