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Design Choices

This is a document that I use to keep track of all the design choices I made, and I hope this also helps contributors to gain insight on how and why things are done in the way they are, and please feel free to challenge those design decisions as certainly they are not perfect :)

What I want to achieve with Fijoy

A great semi-auto net worth tracking experience.

What do I mean by semi-auto?

Manual

Transactions such as

  • making a purchase
  • receiving a paycheck
  • transfer between accounts
  • buy/sell shares of a given stock

will be logged manually.

I have no interest at the moment to use data aggregators like Plaid or Flink to automate these as they are quite unreliable and not easy to maintain with myself alone.

And most importantly, I think the habit of logging your transactions down manually gives you a better sense of your own financial situation.

Auto

Once Fijoy knows how much shares of a given stock you own, the total value of your portfolio can be calculated automatically by fetching the latest price.

We will also handle all your foreign currency account and display your net worth in the default currency you set.

TLDR: everything related to asset price and foreign exchange rate will be handled automatically. You will just make sure to manually log your transactions down!

Accounts

In the account object, there are a couple fields worth mentioning:

  • symbol: For cash accounts, this symbol is the currency symbol, for investment accounts, this is the ticker symbol.
  • symbol_type: This tells us whether the symbol is a currency or stock or crypto, this influences where we will go fetch the price of the symbol.
  • amount: The unit of money or share in the account.
  • value: How much each unit is worth. For money and crypto, it will always be 1. For stocks, it will be how much the ticker is worth.
  • fx_rate: In case this is a foreign currency account, this is the exchange rate to the base currency.
  • balance: The displayed balance of the account, this is calculated by amount * value * fx_rate.

When creating an account, we will first insert an empty account with the correct value and fx_rate. Then based on the initial data provided, we will insert a transaction to record the initial amount.

Transactions

In the transaction object, there are a couple fields worth mentioning:

  • amount: The amount of money or share this transaction added or removed
  • value: This field is only used for investment, this is essentially the price

Every time we create a transaction, we will also update the account balance.