Project Overview: Money Magnet
Money Magnet is a personal budgeting platform designed to help users take control of their finances effortlessly. In a world where managing money can be stressful and time-consuming, this app focuses on simplifying financial planning with a user-friendly interface and smart automation. The goal of Money Magnet is to not just track spending but to empower users to build healthier financial habits.
Problem Statement
Many users find traditional budgeting apps overwhelming with overly complicated features and unclear financial data. The aim of Money Magnet was to simplify the budgeting process by focusing on usability, personalization, and automation, turning financial management into a rewarding experience rather than a daunting task.
Research
I started by conducting a series of user interviews with individuals across different financial backgrounds, from students to working professionals. The key insights revealed that most users wanted:
Simplicity: They were frustrated with apps that required too much manual input.
Personalization: Users wanted their budgeting experience tailored to their goals and spending habits.
Automation: Many users were looking for features like automatic categorization of expenses and budget recommendations.
Competitive analysis of popular budgeting apps also revealed gaps in offering clear and actionable insights, often burdening users with raw data rather than simplified steps toward improving their financial health.
Ideation
Started with creating low-fidelity wireframes to map out the key features: income tracking, expense categorization, and goal setting. The main dashboard needed to be intuitive, showing a user’s financial health at a glance without being cluttered. I focused on creating an easy-to-follow user flow, from setting up a budget to tracking progress.
High-fidelity prototypes were created in Figma, where I experimented with interactive charts and visual progress indicators. This allowed users to see not just numbers, but visual representations of their progress toward financial freedom, which enhanced engagement.
Designing Money Magnet taught me the importance of balancing simplicity with powerful functionality. Creating a budgeting platform that feels empowering rather than overwhelming was a rewarding challenge. In the next phase, I plan to integrate more advanced features, like peer-to-peer money challenges and community support, to motivate users further.
Final Design
Results & Reflection
Money Magnet is more than just a budgeting tool; it's a financial companion that guides users toward smarter money habits and financial independence. By focusing on ease of use and personalization, this platform transforms financial management from a burden into an engaging, goal-oriented experience.
