Simplifying personal finances for young adults

The Problem

Lack of personal finance management tailored for young adults

Young adults are a particular audience with different financial needs than average adults. These needs are often overlooked or they go unnoticed when you consider other such budgeting apps. At WalletWize, we want to bring their needs to the forefront and create an experience specifically for young adults.

Why Is It Important To Solve This Problem?

A unique business opportunity & gap in the FinTech market

Over the last year, nearly 37% of Gen Z say they’ve experienced a financial setback – such as decreased savings or additional debt

Based on a survey by Bank of America, Gen Z is struggling with their finances due to inflation. This indicates that Gen Z could use some help with managing their finances - a gap in the market. Further, taking a look at the competitors, it became clear that while Mint and others are successful, they are not tailored to young adults’ needs. Hence, a viable business opportunity presented itself.

The Goals

A simple, delightful UX that helps young adults manage their finances & encourages them to achieve their goals

> Help young adults manage finances & achieve financial goals

> Design an effective, intuitive, and simple UX

> Create a cohesive brand, product & visual identity

How Do We Stand Out?

Competitive Analysis & Strategy

Given the highly saturated market of finance management apps, it is crucial that WalletWize stands out and addresses the biggest problems plaguing these apps. For that reason, I decided to do a competitive analysis to see what they get right- and wrong. Here are some of my findings after analyzing Mint (before it was discontinued), Buddy & NerdWallet: