About
Pennywise, an innovative money-saving app, makes people's lives easier by enabling them to effortlessly track and manage their expenses while saving towards their future goals.
Project Overview
Time Line
4 Weeks
My Role
UX /UI Designer
Screens
+ 40
Problem
Solution
Users struggle to track expenses and save effectively, often leading to financial stress and missed goals.
PennyWise provides real-time expense tracking, goal-setting tools, and personalized insights to simplify financial management.
Empathize
User Research
Survey | 12 Questions | 23 Participants
Income and Expense Tracking Preference
About 37.5% of users track expenses monthly, 25% track them weekly,
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User Confidence in Budgeting
Graphic depiction
Employment Status Breakdown
Biggest Challenges
More than half of the users state that they are confident in their ability to create and stick to a budget.
43.8 % of users are full time employed, followed by 31.3% students
Tracking expenses, saving money &
budgeting are the biggest challenges.
Nearly 90% of users indicated that charts and graphs help their understanding.
Target Audience
The money budgeting app primarily targets individuals aged 18-45 who have a steady income and seek to effectively manage and secure their budget.
Interview Process
Interviewed users of budgeting apps to understand pain points.
I asked them several questions :
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Where do you record your income and expenses?
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How do You currently manage your finances?
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If using an app, what challenges did you encounter?
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What specific feature or functionality do you wanna see in the app?
Interview Insights
Customizable expense categories emerged as a key requirement for 4 out of 5 users
01
Integrated goal-setting features were requested by 3 of the users
03
4 out of 5 users mentioned that charts and graphs helps them understand their finances
02
Full spending reports by time/category were highly requested by 3 of the users.
04
Competitors
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Mint was identified as the best app for tracking, analysis, and insight.
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All competitors offered expense tracking and categorization.
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Only two out of the six competitors (Mint and Monarch) provided an overview of financial accounts and bill tracking with reminders.
Define
Affinity Diagram
Result
Based on the result of the affinity diagram, the necessary features are:
Simplified reconciliation, automatic expense categorization, all-in-one financial management capabilities, customizable spending limits and budget categories.
Persona
Bio
Brian struggles with overspending and needs a simple way to manage his finances, track expenses, and avoid financial stress.
Goals
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Stick to a budget
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Avoid overspending
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Track bill due dates
Challenges
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Limited time for manual tracking
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Difficulty managing multiple accounts
Motivation
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Saving for future goals
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Achieving financial stability
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Understanding spending habits
Preferred Features
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Automatic expense categorization
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Multiple accounts integration
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Customizable budgeting tools
User Journey
User Story
1- Brian struggles with budgeting. He decides to find an app to improve his money management.
2- He discovers Pennywise Finance app and downloads it.
3- He creates his account. Then goes through a tutorial to understand the features.
4- He sets up a reasonable budget limits for different categories
4- He sets up a reasonable budget limits for different categories.
6-He need to manage his bills more efficiently, exploring the bill management feature.
7- Brian discovers the goal-setting feature in the app and sets a savings goal.
8- Over time, Brian becomes more confident in managing his finances.
Develop
Sitemap
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Task Flow
Task 1: Reviewing Reports
User opens the Penny Wise app and logs in.
User selects the "Reports"
Chooses a specific time to view an overall summary.
User reviews the chart of their financial activities.
Selects months & see expenses of a specific card.
User see income and expenses of all cards.
Task 2: Checking and Adding Budget
User opens the Penny Wise app and logs in.
User goes to the "Budget" section.
User see overview of all categories selects an expense category.
User checks the current spending against the budget.
User selects edit budget for adding /updating expenses.
User add a new budget for another category.
Task 3: Checking and Adding Goals
User opens the Penny Wise app and logs in.
User navigates to the "Goals" section.
User views the existing goals and their progress.
User selects the "Add Goal" button.
User enters the details, such as name, target amount, and timeline.
User saves the new goal, and added it to the list.
User Flow
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Sketches
Wireframe
Style Guide
The app interface design started with the creation of UI assets and components for developing the app screens.
4 Test
Final Test Result
Unmoderated usability testing with participants who had prior experience of using a similar app. For more detailed report , click HERE.
Methodology
Unmoderated usability test
No. Participants
5 participants
No. Tasks
5 Tasks
Software
Google docs, sheets, notes
Iteration
Home Page
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5 Design
Interactive Mobile Prototype
Navigate through PennyWise mobile prototype
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Welcome & Onboarding
Sign up and link bank accounts for new users.
Setting Up Account
Sign up and link bank accounts for new users.
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App Homepage
Overview of user expenses based on category
Report Page
Report page offers valuable financial insights for informed decision-making and optimized savings strategies.
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Budget Page
Pennywise's budget page helps users set and track budgets, providing a clear overview of spending patterns to achieve financial goals.
Goal Page
Goal page allows users to define and track their financial objectives, by providing a clear roadmap towards achieving their goals.
Insights Page
Insights provides personalized financial analysis and recommendations for informed decision-making and improved financial well-being.
In Summary
Task
Developing a mobile money-saving app called Penny Wise for effortless expense tracking and management towards financial goals.
Approach
Conducting user research for mobile users, guiding design decisions for a seamless and intuitive experience.
Product
Penny Wise is a feature-rich app that tracks expenses, offers insights, and generates reports, helping users in achieving their financial objectives.
