Asset Tracking Design¶

Status: 🟡 Draft Created: 2025-12-20 Author: FRacker Team

Overview¶

Expand FRacker to track all personal assets beyond bank accounts and retirement funds, providing a comprehensive net worth view.

Goals¶

Track physical assets (home, vehicles, etc.)
Monitor asset values over time
Calculate total net worth
Visualize asset allocation
Support both appreciating and depreciating assets

Asset Categories¶

Real Estate¶

Primary residence
Rental properties
Vacation homes
Land

Vehicles¶

Cars, trucks, motorcycles
Boats, RVs
Depreciation tracking

Valuables¶

Jewelry
Art and collectibles
Electronics

Other Assets¶

Cash (physical)
Precious metals
Business ownership

Requirements¶

Functional Requirements¶

Asset Management
Add/edit/delete assets
Categorize by asset type
Record purchase date and original cost
Track current estimated value
Value Updates
Manual value updates
Historical value tracking
Notes for valuation changes
Depreciation
Automatic depreciation calculations (vehicles)
Custom depreciation rates
Override with manual values
Reporting
Net worth summary
Asset allocation pie chart
Value trend charts
Asset category breakdowns

Non-Functional Requirements¶

Fast loading (<2s for asset list)
Mobile-responsive interface
Privacy: all data stays local
Family-scoped: shared assets visible to all family members

Database Schema¶

New Table: `asset`¶

CREATE TABLE asset (
    id INT AUTO_INCREMENT PRIMARY KEY,
    family_id INT NOT NULL,
    name VARCHAR(255) NOT NULL,
    asset_type ENUM('real_estate', 'vehicle', 'investment', 'valuable', 'other') NOT NULL,
    purchase_date DATE,
    purchase_price DECIMAL(15, 2),
    current_value DECIMAL(15, 2) NOT NULL,
    depreciation_rate DECIMAL(5, 2),  -- Annual percentage
    last_updated DATE NOT NULL,
    notes TEXT,
    created_at TIMESTAMP DEFAULT CURRENT_TIMESTAMP,
    updated_at TIMESTAMP DEFAULT CURRENT_TIMESTAMP ON UPDATE CURRENT_TIMESTAMP,
    FOREIGN KEY (family_id) REFERENCES family(id),
    INDEX idx_family_type (family_id, asset_type)
);

New Table: `asset_value_history`¶

CREATE TABLE asset_value_history (
    id INT AUTO_INCREMENT PRIMARY KEY,
    asset_id INT NOT NULL,
    value DECIMAL(15, 2) NOT NULL,
    as_of_date DATE NOT NULL,
    notes TEXT,
    created_at TIMESTAMP DEFAULT CURRENT_TIMESTAMP,
    FOREIGN KEY (asset_id) REFERENCES asset(id) ON DELETE CASCADE,
    UNIQUE KEY unique_asset_date (asset_id, as_of_date),
    INDEX idx_asset_date (asset_id, as_of_date)
);

User Interface¶

Assets Dashboard (`/assets`)¶

Assets Overview
---------------
Total Net Worth: $425,300.50

[+ Add Asset]

Real Estate                     $350,000.00  (82%)
├─ Primary Residence           $350,000.00

Vehicles                        $45,000.00   (11%)
├─ 2022 Honda Accord           $28,000.00
└─ 2019 Toyota Camry           $17,000.00

Valuables                       $30,300.50   (7%)
├─ Jewelry Collection          $20,000.00
└─ Camera Equipment            $10,300.50

[View Historical Values] [Net Worth Report]

Add/Edit Asset Form¶

Add Asset
---------
Name: [________________]
Type: [Real Estate ▼]
Purchase Date: [YYYY-MM-DD]
Purchase Price: [$_________]
Current Value: [$_________]
Depreciation Rate: [____%] (optional, for vehicles)
Notes: [________________]

[Save] [Cancel]

Value History View¶

Asset Value History: 2022 Honda Accord
---------------------------------------
[Update Value]

Date         Value        Change    Notes
2025-12-20  $28,000.00   -$1,500   Estimated depreciation
2025-06-15  $29,500.00   -$2,000   Kelly Blue Book
2024-12-10  $31,500.00   -$2,500   Annual update
2024-06-01  $34,000.00   N/A       Initial value

[Chart: Value over time]

Implementation Plan¶

Phase 1: Basic Asset Tracking¶

Database schema and models
Asset CRUD operations
Simple asset list page
Manual value entry

Phase 2: Value History¶

Asset value history tracking
Historical value charts
Value update form

Phase 3: Net Worth Dashboard¶

Combined view of all accounts + assets
Net worth calculation
Asset allocation charts
Trend analysis

Phase 4: Advanced Features¶

Depreciation calculations
Asset categories customization
Bulk import for historical data
Mobile optimization

Technical Considerations¶

Depreciation Calculation¶

For vehicles, implement straight-line depreciation:

def calculate_depreciated_value(asset):
    years_owned = (date.today() - asset.purchase_date).days / 365.25
    total_depreciation = asset.purchase_price * (asset.depreciation_rate / 100) * years_owned
    estimated_value = asset.purchase_price - total_depreciation
    return max(estimated_value, 0)  # Never go below zero

Net Worth Calculation¶

def calculate_net_worth(family_id):
    # Bank accounts (from transactions)
    checking_balance = sum_account_balances(family_id, account_type='checking')
    savings_balance = sum_account_balances(family_id, account_type='savings')

    # Retirement accounts (from retirement_balance)
    retirement_total = sum_retirement_balances(family_id)

    # Assets
    assets_total = sum_asset_values(family_id)

    # Liabilities (future: track debts/loans)
    liabilities = 0

    return (checking_balance + savings_balance + retirement_total +
            assets_total - liabilities)

Open Questions¶

Should we track liabilities (debts)?
Mortgages, car loans, credit card debt
Answer: Yes, but separate feature
Automatic depreciation vs manual updates?
Auto-depreciate vehicles based on rates?
Answer: Support both, default to auto but allow manual override
Integration with existing retirement tracking?
Show retirement accounts in asset view?
Answer: Yes, unified net worth dashboard
Photo uploads for assets?
Store photos of valuables for insurance?
Answer: Nice to have, defer to v2
Asset sharing between families?
Joint ownership scenarios?
Answer: Not initially, assume single family ownership

Alternatives Considered¶

Option 1: External Service Integration¶

Approach: Integrate with Zillow for home values, KBB for vehicles Pros: Automated, accurate Cons: External dependencies, privacy, API costs Decision: Defer - manual entry sufficient for v1

Option 2: Combine with Transaction System¶

Approach: Treat asset purchases as special transactions Pros: Reuse existing code Cons: Assets aren't transactions, confusing UX Decision: Rejected - separate system needed

Next Steps¶

Review and approve design
Create database migrations
Implement models and services
Build UI components
Testing and refinement
Documentation

This feature will significantly expand FRacker's utility, transforming it from a transaction tracker to a comprehensive personal finance management system.