This document summarizes research conducted to design tools to help different types of users with saving money. It identifies 6 persona types - resistant non-saver, confused non-saver, intermittent saver, nihilistic non-saver, desperate pay-backer, and fixed income scrimper. It analyzes their needs around safety, living, future, debt, and leisure. It identifies 3 needs clusters - a safety fund for unexpected expenses, living fund for big tickets items, and future fund for long-term goals. The document aims to conceptualize savings solutions tailored for each persona type and needs cluster.

1. Tools for Saving
Wk16: Final: Savings Toos

2. Tools for Saving
•Evidence-based design
•Primary user research, data gathering & analysis
•Interpretation
•User modeling
•Needs clustering
•Design conceptualization
•Solution modeling and presentation
interaction design

3. interaction design

4. Our users
36-60
(N=33)
older
savvies
older
strugglers
savers
non-savers
younger
savvies
younger
strugglers
18-35
“Needs clusters”, Alexis
interaction design

5. compiled key insights
• Saving is a learned behavior, a process of social, cultural conditioning
• Marriage and family responsibilities tend to engender saving
• Saving contributes to a sense of financial security
• Saving requires motivation
• Saving is often viewed as contingent on excess, i.e., balance of income
vs. expenses
• Conditions of lack engenders conservation of resources
• Fear of future lack engenders saving
• Desire for instant gratification inhibits saving
• Saving for long-term needs
• Failure to save is common among all ages
interaction design

6. Our Target Users
“Sheena”
resistant
non-saver
“Megan”
confused
non-saver
“Jack”
desperate
pay-backer
“Julie”
fixed income
scrimper
“Daniel”
intermittent
saver
“John”
nihilist
non-saver
interaction design

7. persona
“Julie” 42 yo, single parent
fixed income scrimper
1. Short description of the User Type:
On low, virtual poverty income. May have Social Security, alimony or small retirement savings. Minimal
opportunity to splurge
2. Brief Persona and use-case scenario:
Divorced with 2 kids, ages 15 & 10. Ten year old is autistic. Works as a customer service rep for a
humidifier manufacturer, in Kansas City, MO, earning $45,000/year. Owns a town house, bought through
a FHA loan. Owns a 15 year old car, frequently needing repair. Was born in Mexico, but has lived in this
country for the past 25 years. She is a U.S. citizen. She pays out of pocket for extra therapy/camps for
herautistic son. This cost can run $5,000/year or more.
3. Specific needs, savings tool requirements:
Julie is a hard worker and a smart lady. The only thing in life that has caught her off guard is a marriage
that didn’t workout, and the incredible costs of caring for a special needs child. These two events in her
life have her pinching every penny. She would like to think about the future and saving (even investing),
but she just doesn’t have the time or resources. She’s currently trying to decide if she should go into debt
to pay for some leadership classes that would help her advance in her job and possibly earn more money.
She would appreciate some advice from somebody that can empathize with her situation and give her
REAL advice for her situation.
interaction design

8. persona
“Jack” 33 yo, single male
desperate pay-backer
1. Short description of the User Type:
In debt or having lost savings. Trying to repay loan or credit card debt. Getting eaten up by interest.
Living paycheck to paycheck.
2. Brief Persona and use-case scenario:
Jack, age 33, engaged. Wedding delayed until debt paid down. Real estate broker. Owns a condo in
downtown Kansas City. Has debt on his credit cards from spending frivolously. Making payments on a
BMW that he totaled in an accident. Exceeded insurance limits. Paying off medical bills. Has credit and
legal issues due to the fact the car wreck was a DUI.
!
3. Specific needs, savings tool requirements:
Jack is swimming in financial troubles. Once he was prosperous and living a good life, but the down turn
in the economy, recent bad luck and poor decisions has him in over his head in debt. Jack doesn’t even
know where to begin with getting back on track,and feels trapped. If only there had been something like
the “phone budget tuner” a few years ago, maybe he would have controlled his spending on extra items,
and saved money for the unexpected.
interaction design

9. persona
“Daniel” 27 yo, married parent
intermittent saver
1. Short description of the User Type:
Little discipline for saving. Saves for some immediate needs, but has no long-term plan. May contribute to
retirement account, but little to no liquid savings cushion
2. Brief Persona and use-case scenario:
Daniel minimal savings knowledge or experience. He is a police officer with the US military now back in
the US living with his wife and newborn. He was able to save some money for a new pickup trick when he
was serving over seas, but now that he’s home it seems like all his salary goes toward household bills,
house payments and entertainment. He thinks that just get everything paid-off will set him up for the
future. He could be saving, but does not really care about it. “$100 in my hand today is no different than
$100 tomorrow”.
3. Specific needs, savings tool requirements:
Daniel needs to understand the implications of savings and the consequences of not saving. He needs
to realize the importance of planning for the future, and how financial discipline and skills of
planning can benefit him down the road. Learning skills of financial discipline. He needs tools comes
to help in managing two areas: appropriate long-term investment, and short-term liquidity. Daniel
has a good deal of cash on hand, some of which could easily be moved into a 401K program or other
long-term investments.
interaction design

10. persona
“Sheena” 24 yo, single female
resistant non-saver
1. Short description of the User Type:
Can’t muster the will or discipline to budget or save. May have limited 401K but doesn’t contribute much.
Likes having cash in hand. Lives paycheck to paycheck
2. Brief Persona and use-case scenario:
Sheena is a 24 year old licensed practical nurse (LPN) from Nashville, TN. She is a recent graduate
of Vanderbilt and is staying in the area to work. She has a lot of student loan debt and understands
the importance of saving, but has no practical experience actually doing it. She is keeping current
on her monthly bills and has recently started putting some money away for smal purchases, such as
a birthday gift for her brother. But most of her goes toward bills, groceries, personal items and gifts,
and is long gone before she gets her next paycheck.
3. Specific needs, savings tool requirements:
Needs education to put together a budget and savings plan that will cover her financial needs, long-term
and short-term.
interaction design

11. persona
“John” 26 yo, single male
nihilist non-saver
1. Short description of the User Type:
Rejects, opts out of saving. Disillusioned, disbelieving in saving’s value. Little or no future perspective.
May be masking fear or denial
2. Brief Persona and use-case scenario:
John is a single full time sue-chef working in an upscale restaurant. He dropped out of college and since
then has worked in restaurants, where he feels the pace of the work suits. He likes it better than the
construction work he did out of high school. His late father was a building contractor of modest means.
John has a bank account, but no savings or money market account. Neither has he gotten around to
opening up 401. Overall he tends to live paycheck to paycheck. Large or unexpected purchases are made
on credit, and debts are piling up.
3. Specific needs, savings tool requirements:
John specifically needs a savings plan to pay off credit card debt, build up a small cash reserve, and set up
a retirement account.
interaction design

12. persona
“Megan” 23 yo, single female
confused non-saver
1. Short description of the User Type:
Limited or no awareness of savings options or techniques. No savings or retirement plan. Has no mentor
or example. Hasn’t sought professional advice
2. Brief Persona and use-case scenario:
Megan is a senior in college. She grew up with a single mother of three children. Megan is a C+ student
majoring in communications. She has a part time job and likes to party weekends. Her rent, tuition, and
other expenses are currently paid by student loans. She knows that's coming to an end, and hopes to find
a good paying job upon graduation. But has no thought yet of saving for any future.
3. Specific needs, savings tool requirements:
Megan’s immediate needs are to put away funds for ready cash and living needs in this transition period.
She needs a simple tool to create a basic budget. Retirement plans can wait a few years after she gets a
real job.
interaction design

13. Salient User Needs
safety
living
future
debts
leisure
interaction design

14. !
priority
need
1
description
unexpected expenses, emergencies
safety
occasional big-ticket costs, e.g., car, appliance,
investment
2
living
3
practical long-term needs, e.g, education, retirement
future
3
payback credit card, loans
debts
5
vacation, splurges
leisure
* saving intent, i.e., what are people trying to achieve by saving?
interaction design

15. User Modes & Requirements Matrix
resistant
non-saver
safety
living
future
debt
leisure
confused
non-saver
intermittent
saver
nihilistic
non-saver
desperate
pay-backer
fixed income
scrimper
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
interaction design

16. Needs Clusters
resistant
non-saver
safety
living
future
debt
leisure
confused
non-saver
intermittent
saver
nihilistic
non-saver
desperate
pay-backer
fixed income
scrimper
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
A. Safety Fund: tool to create and maintain a savings fund for small unexpected
expenses, e.g., repairs, emergencies
B. Living Fund: tool to create and maintain savings fund for occasional big-ticket
expenses, e.g., car, appliance, real estate, business start-up
C. Future Fund: tool to create and maintain savings fund
for large, long-term expenses, e.g., education, retirement
interaction design

17. tools
for
saving
http://www.youtube.com/watch?v=EHuOyyp0ZW4

18. http://www.youtube.com/watch?v=EHuOyyp0ZW4
interaction design