Fintech app focused on budgeting and saving for professional women
Budgeting for women
Pantsuit Professionals (PSP) is a women's lifestyle brand with a focus on empowering younger working women. They seek to provide resources to increase financial literacy.
PSP wanted to design an app aimed at their target demographic to simplify budgeting & saving.
I was co-project manager as well as the UX Designer for the home feed section of the app on a team of five.
The project duration was three months.
Focus #1: User Research & Strategy
To understand our primary user & their needs, we conducted five user interviews (I conducted one personally) and sent out a survey on our social media with 239 results. From there we wanted to encapsulate who our user was through a persona.
“Managing money is stressful and I avoid looking at it sometimes.”
“I don't really know where to start with my money."
28% of survey respondents used money management apps to both budget and save
Users felt intimidated by budgeting and 54% of survey respondents identified as beginners
4/5 users interviewed value simplified overviews of their money
5/5 users connect feeling about their self worth with their money/progress on money goals
Main User Findings
Skylar is a recent graduate who is working in NYC. She is looking for help with budgeting and saving for some short term goals. She needs to feel guided through the budgeting process and reassured by building trust.
To accomplish this she should be shown clear information about her finances and an easy to understand and utilize budgeting method.
Understanding budgeting methods
Key Problem Statement: How might we simplify budgeting and saving methods to make them more approachable to beginners?
I researched different methods of budgeting, looking for one to meet Skylar's needs of being easy to understand and showing a clear overview of how she spends her money. The method I found that best suited the user was called The Monthly Nut.
A simple visual of monthly spending
Skylar can view how much money she has left to spend to stay within her spending limit. This is calculated by linking financial accounts using the Plaid API
This is the amount that all her purchases are subtracted from to get her Spending Money
It can be manually or automatically set
Skylar can look at The Bubble to see an estimated proportion of how much Spending Money she has left
Color changes as she reaches her limit
Green=<80% of Spending Limit has been spent
Yellow=80%-99% of Spending Limit has been spent
Red=100% or more of Spending Limit has been spent
Focus #2: Home Feed Design
After deciding on the budgeting method, I wanted to design a home feed card that was a simple visual of how much of the spending limit Skylar had left.
Skylar can view her monthly spending based on category
Clicking on the card allows her to view a transaction by category breakdown
She is also able to view different months
Skylar can view her spending over a year
She is able to view different years
Skylar can view her progress on her current short term saving goals
Clicking on this feed card brings her to the Saving section
Skylar can view a weekly Money tip
Skylar can favorite money tips to view later
Clicking on this card brings her to the Money Tips section
Home Feed Cards
Users valued simplified overviews of their money, therefore I designed additional feed cards for quick overviews
Key Takeaway 1
Understand your user: When designing an app from the beginning understanding your primary user really informs the functions and features you design and prioritize.
Key Takeaway 2
Work with your developers: Throughout the process I had access to developers to ask about the feasibility of design choices, this was very beneficial in understanding limitations.
Key Takeaway 3
Document, document, document: There was a period where my team was asked to change projects mid-project and then we returned to this project. Having documentation made picking up my work and process much easier.
My team worked closely with developers through out the design process. We needed to design with feasibility in mind and used this collaboration to inform our designs.