PROBLEM
Children can have a hard time to comprehend financial management and the worth of money
During a casual chat with my 5-year-old niece, I discovered that children often assume money is readily available and doesn't need to be earned - an insight that concerned me. This sparked the question - what can I do to help her understand the significance of finances?
PROBLEM
Children can have a hard time to comprehend financial management and the worth of money
During a casual chat with my 5-year-old niece, I discovered that children often assume money is readily available and doesn't need to be earned - an insight that concerned me. This sparked the question - what can I do to help her understand the significance of finances?
SOLUTION
Learning about finances should feel simple and intuitive
WHITE PAPER RESEARCH
Commencing with white paper research, I delved into research articles which covered topics like goal-setting, early age finance concepts, and kid's sense of responsibility. During this exploration, I stumbled upon a fascinating observation from Michigan University
"…children as young as five already had distinct emotional reactions to spending and saving money, and that these translated into actual, real-life spending behaviors."
COMPETITIVE ANALYSIS + THE GAP
The competitions were overly complex in their utilization
Taking into account the provided statistics, I analyzed the leading 4 Canadian apps sharing a common goal. I observed that several of these apps were rather crowded, attempting to accomplish numerous tasks. While some offered enjoyable activities, they lacked educational content. Additionally, though they portrayed real-life scenarios, their usability for young users was somewhat challenging
COMPETITVE ANALYSIS + THE GAP
The competitions were overly complex in their utilization
Taking into account the provided statistics, I analyzed the leading 4 Canadian apps sharing a common goal. I observed that several of these apps were rather crowded, attempting to accomplish numerous tasks. While some offered enjoyable activities, they lacked educational content. Additionally, though they portrayed real-life scenarios, their usability for young users was somewhat challenging
USER INTERVIEWS
My interviewees reported a significant improvement in their app experience when it focused on 1 or 2 core functions. They believed this streamlined approach enhanced their ability to engage with the app effectively
During research, I recognized the importance of creating a simple yet intuitive app with task-based features and educational value. To better comprehend user needs, I conducted four interviews with parents and kids, posing the following questions to uncover their expectations for app usage. Gathered data was organized through affinity mapping.
RESEARCH QUESTIONS FOR PARENTS/GUARDIANS:
How do you perceive the importance of teaching kids about finances?
What methods do you employ to educate your children about finances?
What challenges or inconveniences do you face when teaching kids about finances?
What are the key factors you consider when educating your children about finances?
What factors might motivate kids to initiate chores?
RESEARCH QUESTIONS FOR KIDS:
How do you view money and savings? Do you consider them important?
What is your understanding of earning and spending money? Where did you acquire this knowledge?
How do you typically spend the money you receive?
MAIN INSIGHTS
Parents struggled to instill the value of money and work ethic in their
children due to the overwhelming nature of multifunctional apps.
Kids expressed that having motivational factors would make it easier for them to grasp the significance of money
USER INTERVIEWS
My interviewees reported a significant improvement in their app experience when it focused on 1 or 2 core functions. They believed this streamlined approach enhanced their ability to engage with the app effectively.
During research, I recognized the importance of creating a simple yet intuitive app with task-based features and educational value. To better comprehend user needs, I conducted four interviews with parents and kids, posing the following questions to uncover their expectations for app usage. Gathered data was organized through affinity mapping.
RESEARCH QUESTIONS FOR PARENTS/GUARDIANS:
How do you perceive the importance of teaching kids about finances?
What methods do you employ to educate your children about finances?
What challenges or inconveniences do you face when teaching kids about finances?
What are the key factors you consider when educating your children about finances?
What factors might motivate kids to initiate chores?
RESEARCH QUESTIONS FOR KIDS:
How do you view money and savings? Do you consider them important?
What is your understanding of earning and spending money? Where did you acquire this knowledge?
How do you typically spend the money you receive?
MAIN INSIGHTS
Parents struggled to instill the value of money and work ethic in their children due to the overwhelming nature of multifunctional apps.
Kids expressed that having motivational factors would make it easier for them to grasp the significance of money
DESIGN EXPLORATION
Initial Challenges and Concept Formation
At first, I envisioned a Virtual Reality app centred around establishing a "kids bank" to impart financial literacy to children. I also contemplated a multifunctional app featuring biweekly salary structures, friend progress tracking, and gamification. However, upon careful consideration, I recognized that the essence of my product was simplifying financial education and instilling money value. I realized that the complex nature of incorporating virtual reality might outweigh its benefits. To achieve my goal effectively, I opted for a smartphone app with an intuitive interface, aligning with my aim of facilitating financial understanding
TESTING AND ENHANCEMENT
Three Key Design Refinements
Leveraging insights from feedback gathered from six peers and mentor input, I embarked on a four-week journey of iterative design enhancements. Throughout this process, I focused on three core areas of improvement to elevate the user experience
DESIGN EXPLORATION
Initial Challenges and Concept Formation
At first, I envisioned a Virtual Reality app centred around establishing a "kids bank" to impart financial literacy to children. I also contemplated a multifunctional app featuring biweekly salary structures, friend progress tracking, and gamification. However, upon careful consideration, I recognized that the essence of my product was simplifying financial education and instilling money value. I realized that the complex nature of incorporating virtual reality might outweigh its benefits. To achieve my goal effectively, I opted for a smartphone app with an intuitive interface, aligning with my aim of facilitating financial understanding
USER INTERVIEWS
My interviewees reported a significant improvement in their app experience when it focused on 1 or 2 core functions. They believed this streamlined approach enhanced their ability to engage with the app effectively.
During research, I recognized the importance of creating a simple yet intuitive app with task-based features and educational value. To better comprehend user needs, I conducted four interviews with parents and kids, posing the following questions to uncover their expectations for app usage. Gathered data was organized through affinity mapping.
RESEARCH QUESTIONS FOR PARENTS/GUARDIANS:
How do you perceive the importance of teaching kids about finances?
What methods do you employ to educate your children about finances?
What challenges or inconveniences do you face when teaching kids about finances?
What are the key factors you consider when educating your children about finances?
What factors might motivate kids to initiate chores?
RESEARCH QUESTIONS FOR KIDS:
How do you view money and savings? Do you consider them important?
What is your understanding of earning and spending money? Where did you acquire this knowledge?
How do you typically spend the money you receive?
MAIN INSIGHTS
Parents struggled to instill the value of money and work ethic in their children due to the overwhelming nature of multifunctional apps.
Kids expressed that having motivational factors would make it easier for them to grasp the significance of money
TESTING AND ENHANCEMENT
Three Key Design Refinements
Leveraging insights from feedback gathered from six peers and mentor input, I embarked on a four-week journey of iterative design enhancements. Throughout this process, I focused on three core areas of improvement to elevate the user experience
CONCLUSION
Reflecting on my Journey of building the app
This project marks the culmination of my final portfolio project (Yay!! or maybe phew!! ?) and beyond the tangible output, I'm truly grateful and proud to have experienced the entire UX process. Here are some valuable takeaways from this exciting journey.
Embrace the Ideation and Iteration : In the initial stages, I was swiftly trying to find the perfect solution. Yet, as I delved deeper into ideas, I realised the importance of refining concepts. Although I had to restart multiple times :( , it became clear the designing with intent was key.
Prioritize Insights over Process : If I aimed to showcase all my UX knowledge through this project it would have been a 100 page case study. However, I understood that it's more discerning how each piece fits into the larger puzzle.
All in all this journey has been both enlightening and rewarding✨
