Pigbud

Helping Gen Z with Smart Budgeting

Context

Why this project?

  • Passion for Fintech Products: I love working on fintech products.

  • Personal Experience with Budget Challenges: Currently, as a student who left my full-time job, I'm facing budget issues.

  • Desire to Help Others: I want to help others secure their financial futures.

  • Building an Effective Business: My goal is to address this issue by building an effective business around it.


Problem

Students and early professionals struggle to manage finances effectively because current budgeting apps fail to provide actionable guidance and decision-making support.


User goals

The goal of PigBud is to provide practical financial tools and insights that help users manage their finances effectively and alleviate financial stress.

Role

Human interface Deisgner

Visual designer

UX designer

Prototyping

Duration

Mar - Jun 2023

Team

Devadhathan M D

Tools

Figma

Google docs

Cracking the Code: Insights into Student and Early Professional Financial Struggles

Digging the problem further

Digging into the problem reveals that truly understanding financial struggles requires more than surface-level analysis. Using the 'Five Whys' technique, I delve deep into why students struggle with budgeting, exploring each layer of their challenges to uncover root causes.

Digging the problem further

Digging into the problem reveals that truly understanding financial struggles requires more than surface-level analysis. Using the 'Five Whys' technique, I delve deep into why students struggle with budgeting, exploring each layer of their challenges to uncover root causes.

Digging the problem further

Digging into the problem reveals that truly understanding financial struggles requires more than surface-level analysis. Using the 'Five Whys' technique, I delve deep into why students struggle with budgeting, exploring each layer of their challenges to uncover root causes.

Deep dive into user challenges

With a clear understanding of the problem, I embarked on extensive user research to delve into the real challenges faced by students and early professionals. I interviewed 10 students from various universities to explore how these financial issues affect them.

To address their needs, we created detailed personas—Sarah an early professional, and Aarav a student.

Deep dive into user challenges

With a clear understanding of the problem, I embarked on extensive user research to delve into the real challenges faced by students and early professionals. I interviewed 10 students from various universities to explore how these financial issues affect them.

To address their needs, we created detailed personas—Sarah an early professional, and Aarav a student.

Deep dive into user challenges

With a clear understanding of the problem, I embarked on extensive user research to delve into the real challenges faced by students and early professionals. I interviewed 10 students from various universities to explore how these financial issues affect them.

To address their needs, we created detailed personas—Sarah an early professional, and Aarav a student.

Aarav

Aarav is a Masters student who is currently in a University. And he lives in university accommodation. He receives a monthly allowance from his parents, but he struggles with overspending and often finds himself running out of money before the end of the month. He is interested in finding a budgeting solution that can help him track his expenses and avoid overspending.

Goals

  • To have a budgeting app that automatically tracks his income and expenses

  • To be able to see where his money is going and identify areas to cut back on spending

Current Behaviour

  • Uses a notepad and manually enters expenses

Pain point and frustrations

  • Not having a clear understanding of his income and expenses

  • Overspending and not knowing where his money goes

Sarah

Background: Sarah is a Gen Z working professional who has recently started her career. She earns a decent salary, but she finds it difficult to manage her expenses and often ends up overspending. She wants to become more financially responsible and start saving money for her future.

Goals

  • To have a simple and easy-to-use budgeting app that reminds him to not overspend and motivates her to save more money

  • To feel in control of her finances and be able to achieve her financial goals

Current behaviour

  • Uses Color Notes and a personal WhatsApp group to manually track expenses, but not consistently

  • Occasionally uses a budgeting app when spending money on something

Pain point and frustrations

  • Overspending when there's low money in his account

  • Lack of motivation to stick to a budget

Key secondary research insights

Secondary research revealed that students and early professionals face distinct financial challenges. Many share costs with others and struggle to consistently track their spending.

Key secondary research insights

Secondary research revealed that students and early professionals face distinct financial challenges. Many share costs with others and struggle to consistently track their spending.

Key secondary research insights

Secondary research revealed that students and early professionals face distinct financial challenges. Many share costs with others and struggle to consistently track their spending.

3/6

Users divide or distribute costs with their friends and families.

22%

Gen Z adopts budgeting tools at lower rates, compared to 42% of Millennials (survey).

5/6

Most users try to track their spending but fail to stick with it.

95%

Students prefer interacting with chatbots for quick and easy information.

Breaking Down User stories: Priortizing the solutions by moscow method

User stories

To better understand the diverse needs of our users, I created detailed user stories. These stories illustrate the different scenarios in which students and early professionals interact with financial tools, highlighting their specific goals, challenges, and desired outcomes.

To prioritize the respective features I have done Moscow method.


User stories

To better understand the diverse needs of our users, I created detailed user stories. These stories illustrate the different scenarios in which students and early professionals interact with financial tools, highlighting their specific goals, challenges, and desired outcomes.

To prioritize the respective features I have done Moscow method.


User stories

To better understand the diverse needs of our users, I created detailed user stories. These stories illustrate the different scenarios in which students and early professionals interact with financial tools, highlighting their specific goals, challenges, and desired outcomes.

To prioritize the respective features I have done Moscow method.


How might we engage users to help improve budgeting skills and reduce financial hardship?

How might we engage users to help improve budgeting skills and reduce financial hardship?

Solutions and sketching
  • AI-driven Budgeting Assistant: Develop a chatbot that can provide personalized budgeting advice, answer questions, and help users stick to their financial plans.


  • Smart Budgeting Recommendations: Use AI to analyze users' spending habits and offer tailored budgeting suggestions and alerts.


  • Interactive Budgeting App: Develop or recommend an app designed specifically for students and early professionals. It should feature user-friendly interfaces, step-by-step guidance, and customizable budget categories.


  • Gamified Learning: Incorporate gamification elements, such as challenges, rewards, and progress tracking, to make budgeting more engaging and less daunting.


  • Peer Mentorship Programs: Pair students or early professionals with mentors who can guide them through the budgeting process and share personal experiences.


  • Budgeting Communities: Create online communities or forums where individuals can share tips, ask questions, and hold each other accountable

Solutions and sketching
  • AI-driven Budgeting Assistant: Develop a chatbot that can provide personalized budgeting advice, answer questions, and help users stick to their financial plans.


  • Smart Budgeting Recommendations: Use AI to analyze users' spending habits and offer tailored budgeting suggestions and alerts.


  • Interactive Budgeting App: Develop or recommend an app designed specifically for students and early professionals. It should feature user-friendly interfaces, step-by-step guidance, and customizable budget categories.


  • Gamified Learning: Incorporate gamification elements, such as challenges, rewards, and progress tracking, to make budgeting more engaging and less daunting.


  • Peer Mentorship Programs: Pair students or early professionals with mentors who can guide them through the budgeting process and share personal experiences.


  • Budgeting Communities: Create online communities or forums where individuals can share tips, ask questions, and hold each other accountable

Solutions and sketching
  • AI-driven Budgeting Assistant: Develop a chatbot that can provide personalized budgeting advice, answer questions, and help users stick to their financial plans.


  • Smart Budgeting Recommendations: Use AI to analyze users' spending habits and offer tailored budgeting suggestions and alerts.


  • Interactive Budgeting App: Develop or recommend an app designed specifically for students and early professionals. It should feature user-friendly interfaces, step-by-step guidance, and customizable budget categories.


  • Gamified Learning: Incorporate gamification elements, such as challenges, rewards, and progress tracking, to make budgeting more engaging and less daunting.


  • Peer Mentorship Programs: Pair students or early professionals with mentors who can guide them through the budgeting process and share personal experiences.


  • Budgeting Communities: Create online communities or forums where individuals can share tips, ask questions, and hold each other accountable

Why AI is a Solution?

The AI chatbot solution was selected for several reasons:

  • It's easy to implement and add data.

  • It provides a wide range of information about budgeting.

  • It allows for user personalization.


After understanding and experimenting with the basic features of competitor apps, I sought inspiration from popular apps and created a MoSCoW method to prioritize the features.

Why AI is a Solution?

The AI chatbot solution was selected for several reasons:

  • It's easy to implement and add data.

  • It provides a wide range of information about budgeting.

  • It allows for user personalization.


After understanding and experimenting with the basic features of competitor apps, I sought inspiration from popular apps and created a MoSCoW method to prioritize the features.

Why AI is a Solution?

The AI chatbot solution was selected for several reasons:

  • It's easy to implement and add data.

  • It provides a wide range of information about budgeting.

  • It allows for user personalization.


After understanding and experimenting with the basic features of competitor apps, I sought inspiration from popular apps and created a MoSCoW method to prioritize the features.

Style Guide

Style Guide

Style Guide

Iterations

Iterations

Iterations

Testing the app under various conditions to ensure reliability and responsiveness.

Testing the app under various conditions to ensure reliability and responsiveness.

Two approaches

I integrated the ChatGPT API with Flutterflow and tested the prototype with six participants. I compared two different approaches for the AI feature using the System Usability Scale (SUS). Hypothesis 2, which involved predefined prompts, received the highest usability score.

Two approaches

I integrated the ChatGPT API with Flutterflow and tested the prototype with six participants. I compared two different approaches for the AI feature using the System Usability Scale (SUS). Hypothesis 2, which involved predefined prompts, received the highest usability score.

Two approaches

I integrated the ChatGPT API with Flutterflow and tested the prototype with six participants. I compared two different approaches for the AI feature using the System Usability Scale (SUS). Hypothesis 2, which involved predefined prompts, received the highest usability score.

Hypothesis 1 - Customized focus areas):

Users exposed to customized focus areas will have more effective budgeting conversations with AI compared to those without.

Hypothesis 2 - Predefined prompts):

Users utilizing predefined prompts will have more effective budgeting conversations with AI compared to those without.

Onboarding user flow

Onboarding user flow

The onboarding flow is crafted to quickly immerse new users into the PigBud experience. It kicks off with a straightforward phone number input and verification to ensure a secure and personalized start.

Seamlessly Connecting Bank Account

Seamlessly Connecting Bank Account

The first step to financial empowerment starts with securely linking your bank account to Pigbud. This flow ensures a smooth connection process, guiding you through each step with clear instructions.


Once connected, you unlock the full potential of Pigbud's budgeting tools, AI assistance, and real-time financial insights.

Effortless Expense Splitting

Effortless Expense Splitting

Splitting expenses with friends or family is now hassle-free. This feature allows you to divide costs evenly or customize splits according to individual contributions, ensuring everyone pays their fair share without the awkwardness of manual calculations.

Streamlined Expense Tracking & Rewards

Streamlined Expense Tracking & Rewards

Adding expenses is quick and easy, helping you stay on top of your spending with minimal effort. To make budgeting even more rewarding, Pigbud offers incentives for maintaining good financial habits. The more you save and stick to your budget, the closer you get to earning exciting rewards each month.

Your Financial Hub: Main Screen & Budgeting

Your Financial Hub: Main Screen & Budgeting

The main screen serves as your financial dashboard for budgeting, offering an at-a-glance view of your budget, spending, and savings goals. The budgeting tool is designed to be intuitive, helping you track your finances effortlessly. Here, the AI also plays a crucial role in offering personalized advice, keeping you on track toward financial success.

Enhancing User Experience: AI Assistance, Alerts, and Gamification

AI chat bot

AI chat bot

The AI Chatbot delivers intuitive financial advice through a user-friendly interface, simplifying personal finance management with direct AI support.

Spending notifications

Spending notifications

The Spending Notifications feature keeps users informed about their financial activity. It sends timely alerts on transactions, budget limits, and unusual spending patterns, helping users stay on top of their finances and make informed decisions.

Gamification and Animation

Gamification and Animation

To boost engagement, I added mascot animations inspired by Duolingo using rive for streaks. Users can earn rewards by maintaining a spending streak each month, turning budget management into a more engaging and motivating experience.

To boost engagement, I added mascot animations inspired by Duolingo using rive for streaks. Users can earn rewards by maintaining a spending streak each month, turning budget management into a more engaging and motivating experience.

Metrics/KPIS

I have put everything together, iterated the flows, and arranged the design file. Ideally, I will hand off the design to developers along with detailed documentation.

Metrics/KPIS

I have put everything together, iterated the flows, and arranged the design file. Ideally, I will hand off the design to developers along with detailed documentation.

Metrics/KPIS

I have put everything together, iterated the flows, and arranged the design file. Ideally, I will hand off the design to developers along with detailed documentation.

User Engagement

User Engagement

MAU tells you how many unique users are interacting with your app each month. This helps you understand how engaging your app is and whether users find value in it over time.

User Retention

User Retention

Tracking MAU alongside other metrics like Daily Active Users (DAU) can give insights into user retention. High retention rates indicate that users continue to find your app useful, while low retention might signal a need for improvements.

What did I learn?

I developed a solution but recognized that real-world effectiveness requires thorough testing. This experience taught me the value of collaborative brainstorming. I realized that involving teammates in the early stages could have enhanced the impact of my solution by incorporating diverse perspectives and insights.

What did I learn?

I developed a solution but recognized that real-world effectiveness requires thorough testing. This experience taught me the value of collaborative brainstorming. I realized that involving teammates in the early stages could have enhanced the impact of my solution by incorporating diverse perspectives and insights.

What did I learn?

I developed a solution but recognized that real-world effectiveness requires thorough testing. This experience taught me the value of collaborative brainstorming. I realized that involving teammates in the early stages could have enhanced the impact of my solution by incorporating diverse perspectives and insights.

Made by devadhathan © Copyright 2024. All Rights Reserved.

Made by devadhathan © Copyright 2024. All Rights Reserved.