WealthWhiz
Personal Finance Management App
Project by Hriday Checker
Objective
Introduction
Young adults aged 18-24 often struggle with financial independence due to limited personal finance education. This leads to difficulties in managing finances, paying off debts, and planning for the future. To address this, a personal finance management project has been developed to offer resources and guidance, helping them build a strong financial foundation and navigate personal finance with confidence.
My Role
Type - Academic Project (Semester 4)
Mentor - Mr. Rakesh Ahirwar
Duration - 3 weeks
Role - UX Researcher and Designer
Our Process
Research
Literature Review
Interviews
User Stories & Journey Mapping
User & Task Flows
Activity, Sequence and Use Case Diagram
Information Architecture & Wireframes
High Fidelity
Prototyping
User Testing
Introduction
Financial independence can be challenging for young adults aged 18-24 due to limited personal finance education. Many struggle with managing finances, paying off debts, and preparing for the future. To address this, I developed a personal finance management project aimed at helping young adults build a solid financial foundation. By interviewing peers about their financial challenges and goals, I designed a solution that provides essential resources and guidance to navigate personal finance with confidence and ease.
Insights
Needs Identified
Education and Guidance
Personalised Advice
Debt Management
Investing Education
Credit Score Management
Financial Planning
Behaviour
Lack of Awareness
Informal Tracking
Setting Financial Objectives
Mixed feelings on tools
No Saving or Emergency fund
No Investing
No Professional Financial Counsel
Practices
Inconsistent Income
Peer Influence
Manual Tracking
Spreadsheets
Mental tracking
Inconsistent budgeting
No savings
Lack of investment knowledge
No emergency funds
Overdependence on parents
Worrying about making financial decisions
Frustration & Pain Points
Tracking Methods
Budget Management
Financial Goal
Savings Practice
Debt Management
Investment Interest
Financial Challenges
Financial Independence
Expert Guidance
Credit Score Management
Financial Planning Difficulties
Debt Repayment
Scenario
Rohit Singh, a 19-year-old high school graduate, works tirelessly at a retail store in Mumbai, earning INR 30,000 per month to support himself after financial constraints ended his education. Determined to achieve financial stability, he has set clear goals: save INR 2,000 monthly for an emergency fund, clear his credit card debt within a year, and begin investing for the future.
Living frugally, Rohit navigates Mumbai's markets, sticks to a strict budget, and avoids taking on new debt. He prefers cash transactions for better control over spending but remains disconnected from digital financial tools that could aid him. His reliance on friends and family for financial advice leaves him without the expertise he needs to manage his debt effectively.
Rohit’s credit card debt weighs heavily on him, but his lack of understanding of debt management strategies makes progress challenging. Despite these obstacles, his resilience and determination drive him to pursue his dreams of financial freedom, seeking the knowledge and resources to turn his vision into reality.
Persona
Rohit Singh
Background
Rohit belongs to a low-income family in Mumbai. Due to financial constraints, he had to discontinue his education after completing high school and began working in a retail store. Rohit grapples with managing his personal finances and has limited exposure to affordable financial products and services.
Goals
Save INR 2,000/month for emergency fund
Eliminate credit card debt in 1 year
Create modest long-term investment portfolio
Behaviour
Frugal lifestyle, strict budget
Avoids extra debt
Prefers cash over digital payments
Seeks finance advice from family, friends
Device
Most used apps
Frustration
Limited financial knowledge
Scarce affordable credit options
Difficulty saving with low income, high expenses
Uncertainty in choosing investments
Job
Retail Job
Age
19
Income
30,000 Rs per month
Satus
Single
Location
Mumbai
Priya Patel
Background
Priya comes from an upper-middle-class family in Bangalore. She recently graduated with a degree in Commerce and is exploring various career options. As a digital native, she spends a significant amount of time online, particularly on social media platforms.
Goals
Flexible budget for lifestyle and savings
Diversified investment portfolio
Increase income via freelance, side hustles, full-time opportunities
Behaviour
Prefers digital payments
Uses social media for recommendations, networking
Seeks freelance work online
Invests in high-risk assets, including cryptocurrencies
Consults online sources for financial advice
Device
Frustration
Limited financial knowledge, decision-making uncertainty
Occasional overspending on non-essentials
Difficulty finding trustworthy online financial advice
Job
Freelancer
Age
22
Income
40,000 Rs per month
Satus
Single
Location
Bangalore
Most used apps
User Journey Mapping
Final Designs
Information Architecture
Task Flow
Signup
Payment and Savings
Wireframes
High Fidelity
THANK YOU
If there’s any question please kindly to ask me. Let’s Discuss
waffledesigns12@gmail.com or +91 96991 82986
Thank you
Check out my other Projects