Design edge final ppt
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  • jenni
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  • annie
  • Annie- we want to observe the method of payment and whether people spend on cash or credit cards more
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  • juliet
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Transcript

  • 1. Money managementhow to manage your money better
    Group 4: Annie Le. Jennifer Chang. Juliet Lam
    April 26th 2011. 8 AM
    Design At The Edge
  • 2. Problem
    Money Management
    How to manage your money better
    Lose track of what and where money is spent
    Dependant on credit/debit cards
    Needs vs. Wants
    Forget the value of money & how much is spent
    Problem
    Focus
    Methodology
    Proposal
  • 3. Target Market
    Problem
    Focus
    Methodology
    Proposal
    College students
    Young adults
    People who have a budget
  • 4. Field Observation
    Experiment: $40 A Week Challenge
    Interview
    Methodology
    Problem
    Focus
    Methodology
    Proposal
  • 5. Cash vs. Credit Card
    Field Observation
    Problem
    Focus
    Methodology
    Proposal
  • 6. Field Observation
    Problem
    Focus
    Methodology
    Proposal
    Union Square, St. Marks, Korea Town
    Sat in different restaurants for 2 hours
    Observe method of payment
    Determine how conscious people are when using credit/debit cards
  • 7. Field Observation Results
    Problem
    Focus
    Methodology
    Proposal
    St. Marks
    Korea Town
    Union Square
    Cash
    Credit/Debit Card
  • 8. Field Observation Analysis
    Majority of people used credit cards vs. cash
    Some people automatically paid using card
    Small pouch for only cards
    Cash only places: Some people came in and left due to lack of cash
    Problem
    Focus
    Methodology
    Proposal
  • 9. “Can You Survive with only $40 A Week” Challenge
    Experiment
  • 10. Experiment
    See if people could get by the week with a tight budget, without having to change their lifestyle or starving themselves
    Observe how people manage the $40 budget
    Physically
    Emotionally
    12 Participants
    Problem
    Focus
    Methodology
    Proposal
  • 11. Experiment Results
    Video
    Problem
    Focus
    Methodology
    Proposal
  • 12. Experiment Analysis
    Problem
    Focus
    Methodology
    Proposal
    Girls manage money better
    Unfortunate events; sickness
    Packing own lunch is a good strategy
    Different lifestyles; some eat more than others, stress and emotional factors
    Socializing with friends mostly translates to eating out; should find alternative ways to gather with friends
  • 13. Perception of Money
    Emotions
    Quotes
    Interview
    Problem
    Focus
    Methodology
    Proposal
  • 14. Interview Questions
    Students
    Young adults
    How much do you spend a week?
    What do you spend money on?
    What is your perception of cash/credit card
    How does money play a role in your life?
    Do you prefer to use cash or credit card more? Why?
    Do you have a budget?
    How did you learn it?
    Who:
    Questions:
  • 15. Interview Results
    Problem
    Focus
    Methodology
    Proposal
    Average $150
    Food, transport, social activities, school supplies
    Need money for social activities
    Cash
    “makes you understand the value of money more than credit cards.”
    “The best way of accounting for your money is to see it in front of you”
    Credit Card
    “I prefer using debit cards, it’s a pain in the ass to always carry around cash. Feels more secure using a debit card.”
    “It's useful but I don't like how I don't see my cash physically being exchanged”
    “more convenient, but I don’t realize how much I spent”
    Budget
    No…but I should. I don’t keep a budget because I am lazy”
    Girls try to keep a daily budget of how much they spend
    Why guys don’t like to plan short term…
    “its too complicated”
    “too time consuming and a hassle to set up”
    “there’s too many steps”
  • 16. Conclusion
    Problem
    Focus
    Methodology
    Proposal
    People are too dependant on credit/debit cards
    Girls were more successful in the challenge because they planned beforehand and had a strategy going into the challenge
    Even though people claim that they want to see their money physically exchanged, they prefer to use credit cards for convenience
    Guys prefer not to plan as it is too complicated and time consuming
  • 17. Get college students and young adults
    To be more aware of their spending habits and start to get in the routine of planning,
    By offering a “money management” system in online banking and text messaging service.
    Design Brief
    Problem
    Focus
    Methodology
    Proposal
  • 18. Text Message
    Online Banking Money Management System
    Design Solution
    Problem
    Focus
    Methodology
    Proposal
  • 19. Text Message
    Problem
    Focus
    Methodology
    Proposal
    • Receive a text message from your bank every time you use your credit card
    • 20. Make people aware of how much they are spending
    • 21. Constant reminder
  • Problem
    Focus
    Methodology
    Proposal
    Online Banking
    “Money Management” option
    Set up own budget
    View history of spending – month/week
    Compare spending habits
  • 22. Problem
    Focus
    Methodology
    Proposal
  • 23. Problem
    Focus
    Methodology
    Proposal
  • 24. Problem
    Focus
    Methodology
    Proposal
  • 25.
  • 26. Problem
    Focus
    Methodology
    Proposal
  • 27. Problem
    Focus
    Methodology
    Proposal
  • 28. Long Term Suggestions
    Problem
    Focus
    Methodology
    Proposal
    Focus marketing of “money management” service to male demographic, emphasizing:
    Easy to use
    Simple to navigate around system
    Possibly apply system to more applications
    Credit card machine
    Accessories
    iPhone application; able to swipe card on phone to see budget and spending history
  • 29. Thank You