SaveWise
A budgeting platform that tutor young adults to budget and save money.
My Role
UX/UI Designer
Scope
Website
Duration
05/2024 - 08/2024
Tools
Figma, Miro, Google Forms
Personalized Saving Goals: Provide users with the ability to set specific saving goals (e.g., saving for a vacation, emergency fund, etc.), track progress, and get advice based on their spending habits.
Project Overview
SaveWise is a budgeting platform that teaches young adults to budget and save money. The typical users are 19-30 years old, most of whom are college students or early-career professionals. The goal is to assist users in budgeting and saving money so that they can achieve their financial goals.
Problem
Existing budgeting platforms often have complicated interfaces, integration issues, and limited customization options. Most also lack a feature for setting up saving goals, which is crucial for young adults to achieve financial goals like paying rent, saving for a trip, purchasing a car, etc. For young adults managing their finances for the first time, learning to use these existing budgeting apps can be challenging."
How might we build an intuitive and seamless experience for young adults who are learning to manage their finances for the first time?
Solution
SaveWise is a simple, customized, and intuitive platform designed to meet people's basic needs in budgeting, managing their finances, receiving financial knowledge, and setting up saving goals.
Customizable Budgeting Feature: Users can customize the categories, spending limits, and transaction dates of their transactions and budgets.
- Understanding -
User Research
I conducted a survey using Google Forms. The respondents are young adults, aged 19-30. They are either college students or early-career professionals. The goals of the survey are:
To understand users' needs in a budgeting app
To identify users’ frustrations based on their experiences with existing budgeting apps.
Findings
45.5%
were likely to use a budgeting app to manage their finances.
72.7%
had used smartphones or laptops to manage their finances.
Useful Features
Candidates provided valuable insights on what features they find useful in existing budgeting apps, such as monthly budget feature, conditional formatting, pivot table, data visualization, the ability to set goals, etc.
Motivations
9 out of 11 chose saving for a specific goal, 7 out of 11 chose achieving financial independence, and 6 out of 11 chose providing for family or future family, investing for future wealth, and enjoying financial freedom and flexibility.
Opportunities to tutor
7 out of 11 feel least confident about understanding taxes and tax implications, 5 out of 11 chose understanding insurance, and 5 out of 11 chose understanding and navigating financial products and services (banking, loans, investments, etc.)
81.8%
agreed that a budgeting app must have a clean and intuitive interface.
Empathy Map
Complexity
Existing budgeting apps have complicated interfaces and features. Users find it difficult to navigate and use.
Missing Features
Existing budgeting apps lack of features like setting up saving goals - which is crucial for young adults to achieve financial objectives like paying rent, saving for a trip, purchasing a car, etc.
Pain Points
After conducting the survey and completing the empathy map, I identified the following main pain points:
Limited Customization
Existing budgeting apps have limited customization options. It’s hard for users to tailor to their specific needs and preferences. Users also feel restricted by the app's predefined categories and budgeting templates.
Desire for Financial Literacy
Many people recognize the importance of financial literacy but may not know where to start or how to improve their knowledge. Budgeting apps that offer educational resources and tools can help users develop better financial habits and understanding.
Personas
Using the information gathered from user research, I created representations to encapsulate major user types. Based on their primary needs and pain points, I developed the persona of Sara and Dylan.
Competitive Audits
Problem Statement:
Sara is a full-time accountant who needs a budgeting app with an appealing UI design and features such as customizable data, the ability to add new categories, and the option to change transaction dates. She wants to track her spending in each category and budget wisely.
Problem Statement:
Dylan is a full-time technician who needs an intuitive and easy-to-navigate budgeting app, as he has never used one before. He wants to set up a monthly spending goal and save for his next vacation.
- Information Architecture -
User Flow
I created user flows for primary tasks in SaveWise platform.
Setting up transactions
Setting up budgets
Setting up saving goals
Site Map
With the user research and user pain points in mind, I came up with a structure for SaveWise platform.
- Design -
Paper Wireframes
I sketched out several versions of the dashboard, budgeting homepage, and saving goals homepage, focusing on user needs. I incorporated all the core features I wanted to include and emphasize in the sketches.
dashboard (three versions)
setting up a saving goal
setting up a budget
Annotated Wireframes
After sketching the paper wireframes, I moved on to creating digital wireframes. First, I designed a UI kit for SaveWise platform.
Screen 1 - Dashboard
Screen 3 - Add a Budget
For the hi-fi design, I added a 'share' button in the top right corner of each goal, allowing users to share their progress on social media. I also removed the 'spending chart' and added a 'community' section, where users can view others' goals, compare progress, and stay motivated.
Screen 4 - Add a Saving Goal
Screen 2 - Add a Transaction
The original lo-fi design UI experience was not very appealing. I improved the UI design by using the primary color for the buttons, adding a light tone to the selected section on the left navigation panel, and giving all the panels rounded corners.
- Reflection -
Product Success
SaveWise achieved its goal of providing a straightforward and user-friendly budgeting experience tailored for young adults. Through careful design, I created a platform that addresses common issues in existing budgeting tools, like overly complex interfaces, poor integration, and limited customization.
SaveWise’s clean, intuitive interface makes budgeting accessible for users with varying levels of financial experience. Key features include personalized budgeting options, seamless integration with financial accounts, and the ability to create, track, and share savings goals.
Early feedback suggests that users find SaveWise easy to navigate and helpful in achieving financial goals, which indicates that the design effectively meets the needs of the target demographic.
What I Learned
End-to-End UX Process: Enhanced my ability to handle the complete design process individually, from research to final design.
User-Centered Design: Gained insights into young adults’ unique needs in budgeting and saving money, emphasizing simplicity, flexibility, and financial education.
Balancing Aesthetics & Functionality: Learned to combine an appealing UI with functional, user-centric features for an accessible experience.
Design for Social Good: Learned to use design to solve and tackle society’s challenges. This project helps young adults understand how to manage their finances, budget, and spend money wisely.
Next Step
Broader User Testing
Plan to conduct a usability test with a larger, diverse group for more comprehensive usability feedback.
Screen Size Variations
Develop a mobile app to optimize the seamless browsing experience across different device screen sizes.
Potential Partnerships
Explore collaborations with financial institutions or educational platforms to broaden the platform’s educational reach.
If you’d like to see more or would like to get in touch, do email me at szeng323@gmail.com
Thank you for reading!
