Project Context
My Role: UX Research & Design
Timeframe: 12 weeks
Tools Used: Figma, Miro, Photoshop, and Illustrator.
UX Methods: Literature Analysis, Interviews, Online Surveys, Optimal Workshop, Persona Generation, Journey Maps, Usability Testing
Objective
Everyone needs expert help sometimes, but it can be hard to know when to ask for help with your finances. The goal was to build a platform that can connect anyone with a financial tutor and facilitate self-learning personal finance topics.
The Problem
Education in America fails to teach personal finance
As an adult managing my own finances, I’ve noticed how hard it is to converse about money with my peers. According to the Milken Institute, only 57% percent of adults in the US are financially literate. I asked myself – how did this problem arise, and what can I do for the other 43%?
The Process
Using the Double Diamond method
Research & Empathy
- White Paper Research
- Competitive Analysis
- User Surveys & Interviews
- Empathy Mapping
Define
- Affinity Mapping
- Personas
- User Flows
- User Journey Maps
Ideate & Prototype
- Site Map
- Lo-Fi Wireframes
- Prototyping
- Iterations
Validation & Delivery
- Usability Testing
- Data Analysis
- Further Iterations
- Style Guide
White Paper Research
Financial education must come first to achieve financial literacy
I began investigating financial literacy, education, and advisors starting with white paper research. I understood that there was a lack of trust when hiring advisors. I discovered that most people who did consult with advisors already had a solid understanding of their finances. Those who needed help the most were the least likely to reach out.
“Trends in the United States show that financial literacy among individuals is declining, with only 34% of respondents correctly answering at least four out of five questions posed by FINRA on the topic.”
– Kristina Zucchi of Investopedia
“Financial literacy and financial advice are compliments rather than substitutes.”
User Surveys and Interviews
My participants wanted a way to learn on their own
My research showed a market gap for personal finance education, and I looked to qualify this gap by speaking to my target audience. I collected survey data from 45 participants before deciding what to ask in my qualitative interviews.
Research Questions:
1. How comfortable are you talking about your finances with others?
2. Tell me how your family discussed financial matters with you growing up?
3. How often do you think about your finances?
4. Do you have any financial goals? If so, what are they, and what are you doing to reach those goals? If not, why not?
5. Have you ever hired or considered hiring the help of a financial advisor? Why or why not?
View research
What I Learned From the Research
People need the tools to create a financial plan with their own knowledge
Based on the trends in my affinity map, I noticed that people sought information when they needed to accomplish a goal (i.e., to pay down student debt or begin investing).
Privacy
People want to keep their personal financial information private and may find it embarrassing to speak about their spending habits.
Lack of Trust
People want to feel like an advisor has their best interests at heart but are unsure how to know if this is true or what value they provide.
Confidence
People often hesitate to reach out to a professional when they don’t feel confident in their understanding. Users don’t know what they don’t know.
The Recent Graduate Persona
Graduates need guidance paying off their student loans
I distilled my user research into two primary personas. Because many of my interview participants reported their struggles with paying down student debt, I decided to prioritize my user flows to target the needs of Shannon, the recent graduate.
View persona research
Design
Jobs-to-be-done and why Shannon should “hire” Sprout
Equipped with an empathetic understanding of my target audience and their pain points, I used a jobs-to-be-done framework to decide what flows to design first. For Shannon, I knew I needed to account for the following main jobs:
1. Gain an understanding of essential personal finances
Functionally, Shannon needs a system to learn and, from there, create a plan. Emotionally, Shannon needs to feel purpose and avoid feeling aimless in her pursuits.
First flow built = a way to enroll in courses that can guide Shannon through the learning process
2. Set up a plan to pay off loans and employ an accountability mechanism
Functionally, once Shannon understands her financial situation and goals, she will be ready to create a plan to accomplish those goals. Emotionally, Shannon will need to feel reassured that her plan will work.
Second flow built = consultations with experts to provide goal & plan building assistance
View wireframes & ideation process
II. Lo-fi Prototypes
Prototyping and Iterating
Usability testing revealed three major areas for improvement
Once I had a working prototype, I performed two rounds of usability testing with 6 participants in each round.
View usability testing reports
1. Reducing Visual Complexity
Early versions of the Sprout app lacked a clear visual hierarchy in the copy and UI elements. To fix this, I standardized the type family, face, and size – adding more contrast between headings and body.
I focused on removing extraneous details and simplifying the language for UI elements and content.
2. Revising Site Map & Information Architecture
Almost all participants had difficulty with the “My Learning” tab. The first version of the app contained both tutor sessions and courses.
I renamed the “Counselors” tab to “My Tutor” and placed the booking process and the upcoming session information here. I validated these revisions via a second round of usability testing.
3. Optimizing UX Writing
Designing for Accessibility
Finalizing the design
Once I finished my usability revisions to my prototype and began implementing UI, I reviewed the accessibility standards set by the Web Content Accessibility Guidelines.
Peer Reviews
Conducting peer reviews proved invaluable. During these sessions, participants explained that I was likely not in compliance with WCAG.
Color Contrast Adjustments
It was challenging to keep the UI’s original tone as I focused on meeting an AA rating.
Other Revisions Not Shown
Additionally, I constructed error states for text fields and planned for error correction. I adapted text fields to display their labels as the user completed them.
The Solution
Self-paced courses and 1-1 sessions with vetted financial experts
1
Expert-written finance courses
- Leveled courses to enable learning at all levels
- Guided curriculums to facilitate subject understanding
- Free access to beginner-level courses
2
Trust-worthy tutors
- Tutor profiles with ratings and certifications
- Vetted professionals to offer 1-1 lessons
- Increase course understanding and build a plan to implement in daily life
3
Personal guidance and planning
- Create personal plans for things like paying off loans or diversifying investments
- Help understanding complex topics (i.e., compounding interest)
- Set up a check-in schedule with your tutor to keep on track with your goals
Clickable Prototype
Style Guide
Retrospective
My Three Biggest Take-Aways
Think Big, Act Small
A project of this scale can be overwhelming initially, and I found myself getting caught up in the bigger picture. It was vital for me to break this project into several sections comprised of small, manageable tasks. In taking the time to organize how I was going to allocate my time within each phase, I was able to focus on what I needed to complete each day to successfully reach my larger goal.
Prioritize Accessibility
Accessibility in design has the power to benefit all. To ensure I was designing inclusively, I picked articles about accessibility, listened to podcasts on the topic, and began familiarizing myself with accessibility principles and practices during this project. I learned how to comply with the Web Content Accessibility Guidelines (WCAG) international standards early in the design process.
Document Decisions
I learned that it was crucial to keep a project log to stay organized. In addition to keeping me on task, having a working document to record design decisions along the way made it easy to refer to when I lost sight of the big picture. Taking the time to ensure I recorded project milestones not only helped me, but also made it easier to communicate my work with others.