LemonWise
Simplifying How New-Grads Manage Their Finances
Type: Academic Course Project
My Contributions
Two user interviews
Led usability testing and synthesized results
Designed user flows, wireframes, and prototypes for the learning hub screen
Iterated screens based on user feedback and aligned them with the design system
Team
4 people
Tools
Figma, Figjam
Duration
3 months
"Yay, I graduated! 🎉 Earning my first paycheck feels amazing, until I realize... how do I manage my money now?! 😰"
Thats great! Life is giving you lemons…
make lemonade!
Context
Gen Z adults began investing at age 19 on average. This is significantly younger than Baby Boomers who began at an average age of 35 and Millennials at 25.
However… despite students and young adults investing at an all time high 📈 basic financial literacy remains globally low 📉
Solution
LemonWise is an app that helps new-grads find non-intimidating ways to invest early on, so they can build financial literacy and nurture healthy money habits for long-term success.
📊 Research Process
Interview Insights
Exploring the financial habits of new-grads
To confirm whether the problem was common, I interviewed 8 new-grads (aged 21-25) and found that...
⭐ AI helped explore alternative ways to phrase interview questions to reduce ambiguity and bias.
New-grads are saying…
“If there's a really clear document that explains things really well or suggestions on where to start, I would start investing.”
“I think I would need financial education to help me set realistic financial goals.”
Competitive Analysis
Assessing Financial Apps for Insights and Opportunities
While many of the financial apps we explored were well-made (e.g. YNAB and Buddy), we discovered several opportunities to incorporate unique features into our product that would distinguish it from the competition using user research.
Gaps
Helpful financial analytics
Security concerns
Lack of educational features
Persona
Empathizing with Users to Address Goals and Pain Points
Focusing on new-grads and their transition into financial independence provided a clearer understanding of the target audience.
Prioritization Matrix
Ranking Features for Impactful Design
After compiling user feedback based on the most frequently mentioned responses, I prioritized features using a 'Priority x Feasibility' framework. This allowed me to focus on features that were both highly requested and practical to implement, ensuring Lemonaid meets user needs effectively.
Top 3 features
Setting a financial goal
Actionable plans for investing
Clear visualization of spending data
Gathering Persona + Research Insights
Alice wants to…
💡 Solution Phase
Ideation
The 4 Pillars
Using the user persona and research insights, we came up with 4 features to address the 4 identified pain points directly.
Low-Fidelity Prototype
Designing a High-Level Task Flow
After some UI sketches, I created low-fidelity wireframes to map the user journey for returning users. Each screen displays a screen that represents each pillar.
Usability Testing
Testing the primary flow of setting up a financial goal
I conducted a "think-aloud" session and follow-up interview with 6 users, revealing 6 key themes that guided iterations on our high-fidelity prototype.
⭐ AI helped cluster similar observations during early affinity mapping, which I then refined manually.
Visual Design
Friendly, Modern, Playful
The design uses bright and vibrant colors, paired with bold, modern typography and playful illustrations, including lemons and cheerful emojis, to create an engaging and approachable aesthetic.
High Fidelity Mockups
Four Pillars Overview
Homepage
A one-stop-shop for all financial overviews using widget based summaries. Each section can be clicked on to redirect them to a more extensive section.
Feature 1: Spending Analytics
Spending patterns and analytics are designed to be non-threatening and easy to understand.
Feature 2: Goal Setting
Users are guided through an intuitive onboarding process to set long-term or short- term goals effortlessly.
Feature 3: Investment Integration
Rather than assuming users understand investment terms and setup, consistent onboarding is provided for all users. Product tours and tooltips highlight unfamiliar terms and features.
Feature 4: Learning Hub
Modules that adapt and grow in complexity as users enhance their financial literacy to ensure continuous learning.
When life gives you lemons, make it work for you!
Lessons Learned
Innovation is better with teamwork :)
Developing a unique feature in the financial space was challenging due to a crowded market and security concerns. Through frequent iteration and team discussions, we aligned feasibility, differentiation, and user value.
This experience reinforced the importance of collaboration when navigating ambiguity and showed that even in crowded markets, flexibility and creativity can uncover opportunities for improvement. Moving forward, I aim to communicate decision criteria and design rationale more clearly to streamline decision-making.
Simplicity > Gimmicks
In the ideation phase, my team and I explored a wide range of ideas for making a complex topic like finance engaging and motivating for users. We considered combining multiple features, such as a social component where friends could motivate each other to invest, Duolingo-style. However, after careful review, we decided against adding features that might not meaningfully solve user problems.
Ultimately, the focus was on highlighting the most important features without unnecessary complexity, so that users can easily understand and act on their financial goals.
Next Steps
Enhance tracking customization
Add a feature to connect with financial advisors
Enhance security (MFA)
Add a reward system