Iteration 6 | Final Iteration
Last week I received feedback on the first attempt at integrating the following three features:
- Provide a snapshot of finances and their trends
- Allow analysis of any specific transaction in any account to see if it is historically anomalous in the context of all your spending. (Did not change from last week)
- Provide a drop-dead simple “what if” modeling system based on “playing with” your recurring payments amounts, so you can see how changes in monthly spending impact your account.
The main feedback I received about the solution I proposed allowed people to visually see what they were spending but it wouldn’t provoke them to change their behaviors. Most budgeting systems use pie charts….they look great but don’t do much for the user as far as changing their spending patterns. So this week I explored alerts notifying them approaching the amount the allotted on their budget for a particular category.
I failed to write out a siccient senario last week so this week I started from scratched and created a narritive in which a user owuld use this particular function.
Abby’s car has been acting up and the mechanic tells her she will probably need a new car in the next three months. She realizes she needs to save an extra $100 a month for a car payment. She logs into her banking app to view her balance and spending habits. She realizes she has been spending a big portion of her finances towards eating out and could save $100 a month if she ate out 10x less a month. She sets an alert and receives a notification when she spends $150 on eating out reminding her keep her goal of eating out no more than $200.
I made edits and went to test this iteration.
This is the feedback I received:
“Wait, this actually exists in the Chase app now? Because I have chase and that would be awesome!” – Ben
Ben proceded to tell me his current hack of taking out cash for what he is allowed to spend on food and drinks each month. He is not allowed to use his card for any of his purchases regarding food or drink. Once the money alotted for food and drink is gone for the month he’s not allowed to spend anymore. On a future iteration I would have loved to explore solutions that would replicate a similar system.
“Oh I was trying to figure out how to do this on my banking app and I couldn’t, this cool.”- Sam
“A spending habits button is so conveniently placed, would you look at that? I’ve never seen that before” – Mike
If I were to move forward with this design my next iteration would focus on building out how the “what if” modeling would work. Currently, the budgeting systems incorporated hardly recognizes all transactions correctly so there needs to be an option to move things from one category to another. The user tester’s reaction this week towards “spending habits” seems positive but I would be curious to know who well it would work over time. Would it actually change people’s spending habits and enable them to save more?
Click the following links to see how the app has progressed over the last 8 weeks.
Check out Iteration 5 for a full PDF of the other flows explored previous weeks.