Based on the data from the interviews, we made a Flow Model and a Cultural Model. We concluded that none of the intervewees have a defined budget, and simply check their balance from time to time in the bank app. One of of the interviewees keeps track of their expenses on a spreadsheet, but doesn’t do anything with that data, because it’s too cumbersome and tedious. Two of them recognize they have little financial literacy, while the third one considers themselves to be above average, but all of them are interested in learning more about the subject, being basic budgeting and savings, to more complex stuff like investments. In regards of a possible financial application, the requirement of the app accessing sensitive data from their bank account to counter the tedious aspect of manually tracking expenses, brings out safety concerns. In regard to AI integration, like chatbots for example, the main concern was the reliability of the currently available technology, which still makes a considerable amount of mistakes, on a matter that requires extra carefulness as financial planning.
🙍♂️ Demographic profile:
🧭 Description:
Filipe Gonçalo is an introverted student in his first year of his Master’s degree. He currently still lives with his parents in Campo de Ourique so when it comes to budgeting he doesn't focus a lot on how much money he needs to spend on rent, electricity, water, etc. He doesn't really budget his spending other than checking his bank account but would like an app or chat-bot that would allow him to track his spending and teach him more about how to save and invest his earnings. Filipe fears his biggest issue is due to unexpected spending, for instance, since he is an avid gamer he likes to set aside some money when he knows a new game he will like is going to come out. He would like an app that helps him track his average spending per day and tells him how much money on average he spends every month so he can control his spending in a more efficient way. He feels like a chat-bot would be the most useful for him since he could start learning more about his finances without depending on actual people.
💭 Quotes:
“If I had something that I could track easily my expenses, what I expect to spend, what I expect to save per month, what I want to buy and how much I have, I'll definitely invest my time in it.”
🚨 Needs:
🔑 Key messages:
Overall, his main focus was to be able to learn how to budget his money. He is really keen on having some sort of platform that could help him have an accurate understanding of his spending, allowing him to know how much money he spends on average a month so he can save it more efficiently.