Flux Finance
Customized income tracking and trend analysis for fluctuating income and financial stability.
Customized income tracking and trend analysis for fluctuating income and financial stability.
Traditional personal finance advice favors salaried jobs where income is consistent and predictable. For those with fluctuating income (i.e. servers, bartenders, consultants, etc.) income is difficult to track and manage, leading to financial uncertainty and instability.
The goal of this project was to equip users to understand their fluctuating income through tracking and visual data representation.
UX Designer
User Research, Information Architecture, Visual Design, Prototyping + Testing
Summer 2020
Flux Finance is a financial stability tool for individuals with fluctuating income. Through account and income tracking, paired with curated data analytics, users are able to see past a single data point to the truth of their income.
Confidence in and control over your finances.
Financial stability is a system that facilitates and enhances economic growth, manages risk, and absorbs shocks and surprises.
Being financially stable provides freedom from money related stress. It is recommended for all people regardless of total annual income.
Income that is dependent on irregular variables (i.e. schedule, compensation).
Bartenders, Servers, Barbers, Stylists, Spa Workers, Drivers, Deliveries, Performers, etc.
Payable hours, tips/gratuity, seasonal highs and lows, payment day(s), pay method (cash, paycheck) , etc.
Writers, Designers, Programmers, Contractors, Cleaners, Landscapers, etc.
Number of clients/projects, project scale (price), project Investment (time), seasonal highs and lows, payment day(s), etc.
Sales (Insurance, Medical, Tech), Real Estate Agents and Brokers, Accountants, etc.
Number of opportunities, opportunity scale (price or % tier), opportunity, investment (time), seasonal highs and lows, etc.
Bankers, Businessman/woman, doctors/nurses, teachers, engineers, marketers, etc.
Fluctuating income is unpredictable and difficult to track. It is a common roadblock to financial stability.
"I want to stop living paycheck to paycheck."
"I want to be more responsible with my income."
"I want to make the most of my commission."
"I want to be more diligent in planning for my financial future"
"Great!
The first step to
financial stability is to build a budget."
"Your budget basics include:
income, expenses and savings."
"Let's start with your income..."
"Hmm, I can guess what my income is but I honestly don't know."
"Ok, I can approximate my income but it can vary month to month."
"Well, I know my base salary and I can try to predict my commission."
"Great, I have that information.
Let's get started!"
Understand the experience of a fluctuating income and its impact on personal finance.
Determine what financial insights would be beneficial to the user.
Develop an assistive tool to help people with fluctuating income become financially stable.
Participants were selected from a variety of fluctuating income jobs. The goal of these conversations was to understand their financial experiences.
Waitress
2 years
Part time
Primary User
Bartender
17 years
Full time
Primary User
Freelance Writer
3 years
Side hustle
Secondary User
Sales Agent
24 years
Full time
Tertiary User
Dog Walker
2 years
Side Hustle
Primary User
Physical Therapist
2 years
Full time
Secondary User
Photographer
8 years
Full time
Secondary User
Real Estate Agent
24 years
Full time
Tertiary User
"There's always the risk that a client could leave - which would dramatically impact my income."
"It's super unpredictable so I just roll with it month to month. Nothing I can do about it."
"My sales commission is steady. I don't have a lot of little sales to keep track of."
"I don't make enough to have savings. I'm just paying as I go!"
"I know I should record my tips but by the time I get home,
I forget."
"I try my best but honestly there's so much info out there... I don't know where to start."
Aarthi is a recent college graduate working as an intern at a start-up. She waits tables part time to cover her essential expenses.
Goals:
Frustrations:
Ava manages a variety of events with overlapping schedules. She typically is paid 50% upfront and 50% after the event.
Goals:
Frustrations:
John has been in sales for 20+ years. He makes a base salary with commission potential.
Goals:
Frustrations:
How Might We (HMW) is an exercise to identify potential problems and reframe them as opportunities
HMW Steps:
1. HMW Opportunities
(generated by Persona)
2. HMW Categories and Themes
(all step 1 opportunities)
3. HMW Priorities
Short term:
Long term:
Short term:
Long term:
Short term:
Long term:
People with fluctuating income that desire financial stability.
The primary user has high levels of income variability (i.e. service and gig professions) and therefore the most difficult income to track.
The variability of jobs with fluctuating income makes it difficult to track and/or understand personal earnings. Understanding your income is crucial in becoming financially stable.
The user needs assistance in tracking their earnings and understanding the patterns of their income.
1.
Assist the user in becoming financially stable through income tracking, data analytics and financial clarity.
2.
Provide insight that builds the user's confidence in their personal finances and knowledge of general financial concepts and terms.
3.
Develop a MVP to test and validate the adoption and effectiveness of this tool.
Dashboard
Account
Income
Dashboard
Account
Income
Dashboard
Account
Income
Dashboard
Account
Income
Dashboard
Account
Income
Dashboard
Account
Income
Category Progress
Month Trends (+/-)
Annual Trend Comp
Itemized Income
Annual Category Comp
Target Progress
Zero Sum Budget
Paycheck Reminder
Monthly Category Comp
Category Comp (%)
Income Trend Line
Income Spectrum
Main Pages and Visual Data Concepts
Many users in our target demographic have little to no experience with finance apps.
The main goal of this prototype was to be able to conduct user testing and interviews with a tangible solution before heading down the wrong path.
Income totals for all accounts listed by week, month, and year.
A collection of charts, graphs, etc to communicate income trends and promote financial insight.
Accounts are listed on the Dashboard and provide access to view a specific account.
Consistent with the Dashboard, each account has its own collection of charts and graphs.
Income can be added from the Dashboard or from an account.
To add an account, simply provide the job name, your title, and the source of payment.
Psychology consultant
(1.5 yrs; 20 hr/wk)
varies by client
Secondary User
Server at Downtown restaurant
(6 yrs, 20 hr/wk)
hourly + tips
Primary User
Freelance Designer
(5 yrs; varies)
varies by client
Secondary User
Server at local resort
(1.5 yrs, 25 hr/wk)
hourly + tips
Primary User
Kitchen Expo
(2 yrs; 30 hr/wk)
hourly + tips
Primary User
Hospitality Sales
(15 yrs; 30 hr/wk)
salary + commission
Tertiary User
Users noted that they hadn't seen their money put into a big picture context before and that this would be helpful to their lives.
All tasks were easily completed without further explanation.
Users felt that the app was clean, understandable, and easy to use.
The wants, needs and preferences of each user varied greatly. Data that's useful to a waitress may not be useful to a salesman.
By giving every user the same data set, the information wasn't personal enough to be wholly practical. If a chunk of the data isn't useful, it's easy to zone out.
Currently, the UI is a bit too bland to be delightful.
Creating a personal, custom data set is the next step to addressing our interview findings (i.e. one size does not fit all; zombie scrolling).
Before sketching or creating wireframes, a sitemap was created to define the functional layout of the app and areas of customization.
With the decision to take a more curated approach, the previous UI was no longer cohesive with the app's functionality.
The revised app will be inspired by the minimalism and refinement of other curated brands and experiences.
The new style guide is clean and minimal, removing the abundance of color from the previous iteration.
The linear nature of the icons and body text will be a guiding principle in further wireframe ideation.
TYPOGRAPHY
TITLE
Body
DIN 2014 - 400 Regular - 14pt
COLOR PALETTE
ICONS
We are not starting over. The notable changes are the addition of data customization and new UI. But the general flow of the app remains the same.
The wireframe sketches and lo-fi prototype are primarily about addressing these changes before creating a final prototype.
Dashboard
Account
Customize
+ Income
Flux Finance is a financially stability tool for individuals with fluctuating income. Through account and income tracking, paired with curated data analytics, users are able to see past a single data point to the truth of their income.
view adobe xd prototype
The Dashboard opens with an overview of your weekly, monthly, and yearly income to date.
If you have multiple accounts or jobs, comparative data is available via the Dashboard.
Comparing accounts is valuable for multiple jobs and crucial for users seeking to compare numerous clients and their respective ROIs.
Personally curated data provides income clarity through trend analysis and detail recollection.
Income can be filtered by week, month or year.
The minimal aesthetic of the app prevents the data from being overwhelming.
Financial stable requires an understanding of your income.
Learning the language will boost the user's financial confidence.
Each data set has an explanation of what is being represented and how it is applicable.
Providing this information makes it easy for the user to learn and feel taken care of.
We all have different financial goals and needs. Customize your data to include only what is useful for you.
A library of data options are available and organized into categories and filtered by "Visual Content" or "Text Content".
Data that is personal and practical, instead of one-size-fits-all, mitigates "zombie scrolling".
Data customization allows the app to evolve and grow by targeting specific needs.
Data requiring a passage of time (i.e. year over year comparisons) could be made available when applicable.
Niche data (job or goal specific) and complex data modeling could be added to the app at an additional charge.
New ways to process your income keeps the app fresh and encourages continuous user participation.
Add account basics in under a minute.
Adding an account is initiated from the Dashboard.
During prototype testing, some users preferred to keep things as quick and simple as possible.
When creating an account, additional content is available to create a more detailed narrative of the job.
This customization allows the user to include specific details about their job at their discretion.
During prototype testing, some users required more details. Account customization allows the app to meet the needs of numerous industries and job titles.
Add income basics in under a minute.
Adding income is initiated from an Account.
During prototype testing, some users preferred to keep things as quick and simple as possible.
When adding income, additional content is available to create a more detailed narrative of the income.
This customization allows the user to include specific details about their income at their discretion.
During prototype testing, some users required more details. Income customization allows the app to meet a variety of analytical needs.
