Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

iReceipt

534 views

Published on

8:00 am Tuesdays

iReceipt
A Ra Cho
Daisey Blakney
Eun Hye Lee
Min Seon Park
Valerie Moloney

Published in: Design
  • Be the first to comment

  • Be the first to like this

iReceipt

  1. 1. Money Management iReceipt Daisy Blakney, Valerie Moloney, A Ra Cho, Min Seon Park, Eun Hye Lee
  2. 2. What’s Missing? <ul><li>Easy way to track spending </li></ul><ul><li>Visual Tool </li></ul><ul><li>Seamless interaction with spending, tracking, and managing </li></ul><ul><li>money with a smart phone </li></ul><ul><li>Way to utilize receipts </li></ul>
  3. 3. Research Objectives <ul><li>We want to know how consumers (specifically New Yorkers) currently track their money, what they spend it on, and how they feel about their ability to manage their money. </li></ul>
  4. 4. Research Methodology <ul><li>Conduct one on one interviews with twenty 20-30 year olds </li></ul><ul><li>Keep a journal and track where we spend, how much, on what, the method </li></ul><ul><li>we use to pay, and how we manage our receipts </li></ul><ul><li>Observe people’s immediate action after receiving/not receiving a receipt </li></ul><ul><li>Gain insight into what sort of application is missing in people’s financial lives </li></ul><ul><li>Explore already existing money management tools </li></ul>
  5. 5. Interview Questions <ul><li>Is there a way to study people’s interaction with money without asking </li></ul><ul><li>them directly? Could we gain information by just observing people at </li></ul><ul><li>registers? </li></ul><ul><li>How can we create a visual that is easy to read but gives you the information </li></ul><ul><li>you need to manage your money? </li></ul><ul><li>How do people already manage their money? </li></ul><ul><li>What percent of users uses online banking? How often? </li></ul><ul><li>How do people manage their money now? </li></ul><ul><li>Do people over spend often because they are not sure how much they </li></ul><ul><li>currently have? </li></ul><ul><li>What are most people buying? </li></ul><ul><li>How do most people pay for things? </li></ul><ul><li>Do people save receipts? </li></ul><ul><li>Do people budget monthly? Allowance? </li></ul>
  6. 6. Results from Interview <ul><li>How do people already manage their money? </li></ul><ul><ul><li>Online Banking 65% </li></ul></ul><ul><ul><li>Keep Receipts/Check Book 10% </li></ul></ul><ul><ul><li>Mental 25% </li></ul></ul><ul><li>How often do users check online bank accounts? </li></ul><ul><ul><li>Daily 15% </li></ul></ul><ul><ul><li>Every few day 45% </li></ul></ul><ul><ul><li>Weekly 40% </li></ul></ul><ul><li>How do you budget? </li></ul><ul><ul><li>Income 10% </li></ul></ul><ul><ul><li>Parental Allowance 75% </li></ul></ul><ul><ul><li>Both 15% </li></ul></ul><ul><li>Do people over spend or over draft often? </li></ul><ul><ul><li>Never 20 % </li></ul></ul><ul><ul><li>Only Once 70% </li></ul></ul><ul><ul><li>Monthly 10% </li></ul></ul><ul><li>What are most people buying? </li></ul><ul><ul><li>Food 45% </li></ul></ul><ul><ul><li>Travel 20% </li></ul></ul><ul><ul><li>Clothes 25% </li></ul></ul><ul><ul><li>Bills 10% </li></ul></ul><ul><ul><li>Gas X </li></ul></ul><ul><li>How do most people pay for things? </li></ul><ul><ul><li>Credit 10% </li></ul></ul><ul><ul><li>Debit 70% </li></ul></ul><ul><ul><li>Cash 20% </li></ul></ul><ul><ul><li>Check X </li></ul></ul><ul><li>Do people save receipts? </li></ul><ul><ul><li>Yes, always 40% </li></ul></ul><ul><ul><li>Yes, but I never look at them 45% </li></ul></ul><ul><ul><li>No 15 % </li></ul></ul>OUT OF 20 PEOPLE
  7. 7. Conclusions from Research <ul><li>Most of our target doesn't monitor their money on a daily basis. </li></ul><ul><li>When people use cash they don’t think of it as spending, because its already out of their account. </li></ul><ul><li>Online banking is very popular, but people don’t use it to control their spending. Its more of a safety check once the money is already spent. </li></ul><ul><li>90% of the time receipts are given after purchase. </li></ul><ul><li>Most of our target feels the necessity of managing their finances because they are soon-to-be earning their own income (currently they receive aid from parents) </li></ul><ul><li>Our target wants something that makes the concept of managing money with a monthly allowance easier to understand. </li></ul>
  8. 8. Conclusions from Journal Keep a journal for 2 weeks and track where we spend, how much, on what, the method we use to pay, and how we manage our receipts <ul><li>Habit of throwing away receipts: </li></ul><ul><ul><li>Clutter </li></ul></ul><ul><ul><li>Waste </li></ul></ul><ul><ul><li>Unorganized </li></ul></ul><ul><li>Tangible proof purchase is necessary for </li></ul><ul><li>exchange and returns </li></ul><ul><li>Efficient tool needed to record and manage </li></ul><ul><li>money expenditure </li></ul>
  9. 9. Conclusions from Observations <ul><li>Takes receipt after purchase </li></ul><ul><li>Throw away later or keep it in bag /wallet without looking </li></ul><ul><li>How can we maximize the lifecycle of a receipt and use on the information on it? </li></ul>
  10. 10. Solution: iReceipt
  11. 11. WHY SCAN? <ul><li>Through interview, we found our target only checks the available </li></ul><ul><li>balance through online/mobile banking. </li></ul><ul><li>How to make our target to: </li></ul><ul><ul><li>Read their statement </li></ul></ul><ul><ul><li>Set their budget by incorporating technology </li></ul></ul><ul><li>SOLUTION </li></ul><ul><li>Giving them a little burden by scanning the receipts with their </li></ul><ul><li>mobile phone, which eventually will make them aware how much </li></ul><ul><li>they spend </li></ul><ul><li>Using technology decreases the burden </li></ul>
  12. 12. iReceipt APP Features <ul><li>Scan your receipt </li></ul><ul><li>Translate relevant data into simple text by scanning </li></ul><ul><li>Breaks down spending information into category visually </li></ul><ul><li>History of expenditure by daily, monthly, and yearly </li></ul>
  13. 13. Questions?

×