Our Original Aim
Millennials disproportionately face high debt and low savings compared to older generations.
Millennials disproportionately face high debt and low savings compared to older generations.
But after talking to people,
we found that the problem was a little less about generational wealth, and more about
how we talk and learn about money.
This brings us to our problem,
Personal finance education isn’t easily accessible or available from a reliable source, especially for students who are learning to build wealth.
Personal finance education isn’t easily accessible or available from a reliable source, especially for students who are learning to build wealth.
Who did we meet and what did they say?
We each spoke to participants who were willing to share with us about their experiences in making decisions about loans, investments, debt, and their experience in learning about financial literacy.
We predominantly spoke to students and young adults. Our participants were primarily worried about loans and the idea of being beholden to paying someone back for something or being taken advantage of. Those same participants had varied approaches to investing, whether they opted for basic retirement plans or felt comfortable investing in the stock market, and how they made those decisions.
There was also no single source of truth or information for our participants to utilize: when asked where they found information about making these kinds of decisions, the responses spanned from “friends and family” to “the internet,” – specifically reddit! Financial awareness didn’t translate into a reference, and we saw a place where we could step in to help users gain clarity and grow confidence.
We each spoke to participants who were willing to share with us about their experiences in making decisions about loans, investments, debt, and their experience in learning about financial literacy.
We predominantly spoke to students and young adults. Our participants were primarily worried about loans and the idea of being beholden to paying someone back for something or being taken advantage of. Those same participants had varied approaches to investing, whether they opted for basic retirement plans or felt comfortable investing in the stock market, and how they made those decisions.
There was also no single source of truth or information for our participants to utilize: when asked where they found information about making these kinds of decisions, the responses spanned from “friends and family” to “the internet,” – specifically reddit! Financial awareness didn’t translate into a reference, and we saw a place where we could step in to help users gain clarity and grow confidence.
The Problem Statement
Dave, a graduate student who wants to financially secure himself for the future, needs a way to understand how to approach financial decision making because he wants to know more but everybody around him talks about different approaches.
Design System
We decided on a visual style guide, created a design system, had multiple rounds of iterations followed by a back and forth loop between testing and prototyping.
Color System
We went ahead with a blue and dark blue primary theme to give the application is calming yet professional appearance to make sure that people who enter the platform are not dropping off due to trust factor which comes with money concepts.
We went ahead with a blue and dark blue primary theme to give the application is calming yet professional appearance to make sure that people who enter the platform are not dropping off due to trust factor which comes with money concepts.
The font we used was Lato and here are the various types that were used across the platform.
The font we used was Lato and here are the various types that were used across the platform.
Second Design Screens
Based on the feedback around the ideas and the design system we created our first set of high-fidelity screens.
Onboarding
The onboarding was kept simple and playful to explain the user about the features while also not over-burdening them with too much information about the platform before we know about them. We followed this up with questions to learn about the user and to cater the experience towards them based on those learnings.
The platform and it's homepage was made keeping in mind it merges all the aspects of the platform so it has to be easy to understand, and the profile was built keeping in mind the platform would be statistics based which could help people compare their progress with others.
The platform and it's homepage was made keeping in mind it merges all the aspects of the platform so it has to be easy to understand, and the profile was built keeping in mind the platform would be statistics based which could help people compare their progress with others.
The learning flow is the most important aspect of the solution and had to be made with the most meticulous understanding of what the users want. It was created with three major actions in it:
1. Learning
2. Answering
3. Feedback
While learning and answering it was a quiz but the feedback was made in a way that they could see the aspects they need to focus on while also cheering them on for what they did well in.
The learning flow is the most important aspect of the solution and had to be made with the most meticulous understanding of what the users want. It was created with three major actions in it:
1. Learning
2. Answering
3. Feedback
While learning and answering it was a quiz but the feedback was made in a way that they could see the aspects they need to focus on while also cheering them on for what they did well in.
