Teen Money Management
App Design
Teen Money Management
App Design
Fintech | B2C
Designing A Teen Financial Literacy App
Creating a comprehensive financial education product for teens, fostering responsible financial behaviors early with essential knowledge
Role
UX Research, User Interviews, Visual Design, User Flows, Prototyping, Usability Testing
Timeline
4 Months, 2024
Company
Capstone Project
Project Type
UX Research, Fintech, Mobile App Design
Tools
Figma, Notion, Miro
Designing A Teen Financial Literacy App
Creating a comprehensive financial education product for teens, fostering responsible financial behaviors early with essential knowledge.
Role
UX Research, User Interviews, Visual Design, User Flows, Prototyping, Usability Testing
Timeline
4 Months, 2024
Company
Capstone Project
Project Type
UX Research, Fintech, Mobile App Design
Tools
Figma, Notion, Miro
Designing A Teen Financial Literacy App
Creating a comprehensive financial education product for teens, fostering responsible financial behaviors early with essential knowledge.
Role
UX Research, User Interviews, Visual Design, User Flows, Prototyping, Usability Testing
Timeline
4 Months, 2024
Company
Capstone Project
Project Type
UX Research, Fintech, Mobile App Design
Tools
Figma, Notion, Miro
What was the Problem?
What was the Problem?
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⏳
⏳
Financial Illiteracy
Among Teens
Financial Illiteracy Among Teens
Limited understanding of basic financial concepts, such as budgeting, saving, and investing.
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Inadequate Preparation for Adulthood
Without adequate preparation, teenagers may face financial struggles and challenges when they enter adulthood.
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😉
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Difficulty in Navigating Financial Institutions
Lack of understanding about financial products and services can hinder teenagers from making informed financial decisions.
My role throughout the project was...
My role throughout the project was...
My role throughout the project was...
As a Capstone project, my role as a product designer was to address financial literacy issues among Toronto teenagers aged 13 to 17. I conducted primary research to assess their understanding of financial concepts. From this research, I found moderate financial literacy levels, with peer influence and parental guidance playing significant roles. Challenges included recruiting enough participants and accessing emergency funds.
I created "How Might We" statements to simplify financial education and developed a value proposition: "An app empowering teenagers with money management skills, connected to major banks in Canada for parental supervision and rewards for chores." I created user personas, conducted project breakdowns, developed information architecture, and designed low-fidelity wireframes, followed by usability testing.
My aim was to create a comprehensive financial education product for teens, fostering responsible financial behaviors early.
As a Capstone project, my role as a product designer was to address financial literacy issues among Toronto teenagers aged 13 to 17. I conducted primary research to assess their understanding of financial concepts. From this research, I found moderate financial literacy levels, with peer influence and parental guidance playing significant roles. Challenges included recruiting enough participants and accessing emergency funds.
I created "How Might We" statements to simplify financial education and developed a value proposition: "An app empowering teenagers with money management skills, connected to major banks in Canada for parental supervision and rewards for chores." I created user personas, conducted project breakdowns, developed information architecture, and designed low-fidelity wireframes, followed by usability testing.
My aim was to create a comprehensive financial education product for teens, fostering responsible financial behaviors early.
As a Capstone project, my role as a product designer was to address financial literacy issues among Toronto teenagers aged 13 to 17. I conducted primary research to assess their understanding of financial concepts. From this research, I found moderate financial literacy levels, with peer influence and parental guidance playing significant roles. Challenges included recruiting enough participants and accessing emergency funds.
I created "How Might We" statements to simplify financial education and developed a value proposition: "An app empowering teenagers with money management skills, connected to major banks in Canada for parental supervision and rewards for chores." I created user personas, conducted project breakdowns, developed information architecture, and designed low-fidelity wireframes, followed by usability testing.
My aim was to create a comprehensive financial education product for teens, fostering responsible financial behaviors early.
Research phase
Research phase
Three highlights from our research phase during the 'Junior' App.
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20 Survey Participants
The findings revealed moderate financial literacy levels, with peer influence and parental guidance playing significant roles. Challenges included recruiting a sufficient number of participants in the targeted age group.
The findings revealed moderate financial literacy levels, with peer influence and parental guidance playing significant roles. Challenges included recruiting a sufficient number of participants in the targeted age group.
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5+ In depth interviews
Findings from interviews: GTA teens are financially dependent on parents, learning money management by observation. Giving older children more financial responsibility fosters lifelong skills. Challenges: lack of emergency funds, limited financial term awareness. Under 18: joint accounts or none.
Findings from interviews: GTA teens are financially dependent on parents, learning money management by observation. Giving older children more financial responsibility fosters lifelong skills. Challenges: lack of emergency funds, limited financial term awareness. Under 18: joint accounts or none.
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5+ Usability testings
Usability testing feedback: App simplifies money management for 13-17 year-olds, providing financial independence under parental supervision.
Usability testing feedback: App simplifies money management for 13-17 year-olds, providing financial independence under parental supervision.
What is the result?
What is the result?
I have designed a teen banking app where users have:.
I have designed a teen banking app where users can achieve::.
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Financial Independence for Teens under Parental Supervision
Financial Independence for Teens under Parental Supervision
Financial Independence for Teens under Parental Supervision
Empowering teenagers with money management skills connected to major banks in Canada for parental supervision and rewards for chores was positively received.
Empowering teenagers with money management skills connected to major banks in Canada for parental supervision and rewards for chores was positively received.
Empowering teenagers with money management skills connected to major banks in Canada for parental supervision and rewards for chores was positively received.
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Digital Banking experience without opening a bank account
Digital Banking experience without opening a bank account
Digital Banking experience without opening a bank account
No need to open a bank account. Teens phone number is their account number. The app, connected with the parent's banking app, allows for a digital account without the hassle of dealing with bank documents.
No need to open a bank account. Teens phone number is their account number. The app, connected with the parent's banking app, allows for a digital account without the hassle of dealing with bank documents.
No need to open a bank account. Teens phone number is their account number. The app, connected with the parent's banking app, allows for a digital account without the hassle of dealing with bank documents.
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Tracking Expenses, Budgeting, Savings and Spendings features
Tracking Expenses, Budgeting, Savings and Spendings features
Tracking Expenses, Budgeting, Savings and Spendings features
Empowering teens by easily tracking their spending, savings, budget, and expenses within the app. Helping them take control of their finances effortlessly, ensuring financial responsibility and empowerment.
Empowering teens by easily tracking their spending, savings, budget, and expenses within the app. Helping them take control of their finances effortlessly, ensuring financial responsibility and empowerment.
Empowering teens by easily tracking their spending, savings, budget, and expenses within the app. Helping them take control of their finances effortlessly, ensuring financial responsibility and empowerment.
Final thoughts and takeaways
Final thoughts and takeaways
Final thoughts and takeaways
As the product designer, it was rewarding to create an app empowering teens to develop essential money management skills with parental supervision. Simplifying financial management for 13-17 year-olds and providing a user-friendly interface for tracking spending, saving, and budgeting without the need for a bank account was key. The final takeaway is the creation of a comprehensive financial education platform, fostering responsible financial behaviors early on, ensuring teenagers have the tools they need to take control of their finances.
As the product designer, it was rewarding to create an app empowering teens to develop essential money management skills with parental supervision. Simplifying financial management for 13-17 year-olds and providing a user-friendly interface for tracking spending, saving, and budgeting without the need for a bank account was key. The final takeaway is the creation of a comprehensive financial education platform, fostering responsible financial behaviors early on, ensuring teenagers have the tools they need to take control of their finances.
As the product designer, it was rewarding to create an app empowering teens to develop essential money management skills with parental supervision. Simplifying financial management for 13-17 year-olds and providing a user-friendly interface for tracking spending, saving, and budgeting without the need for a bank account was key. The final takeaway is the creation of a comprehensive financial education platform, fostering responsible financial behaviors early on, ensuring teenagers have the tools they need to take control of their finances.
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