Insight 1
User Journey Map
I shall follow IFL on instagram to keep updated and use their tools as well!
After attending an IFL workshop to improve her financial literacy, Clara was eager to put her newfound knowledge into practice and set her first long term financial goal.
Wow! If I keep this up, I would certainly reach my goal sooner than expected
Determined
One day, she was boarding the MRT to school and she saw an advertisement on Shopee's 11.11 sale.
Pain point: Fear of missing out on the latest deals and trends.
Opportunity: A tool which is always near things she uses daily to ensure she makes more informed financial decisions.
Proud
However, being a foodie and student. She incurs many small expenses from eating out with her friends daily and spends most of her income on food, using paywave as to pay.
Pain point: Convenience of seamless payments resulted in her spending more than her original intention
I want to save up $10.000 in 2 years time to pay for my further education to ease my parents burden.
Enriched
In 1 years time, after the workshop, she successfully integrated what she learned and felt proud about saving 50% of the goal she had set was confident she could stay on track and achieve her goal.
Tempted
Heading home, Clara browsed her social media feed, and saw her favourite handbag on sale. She continued staying true to her disciplined approach and did not buy it.
Guilty
Pain point: She stuck to that mindset and eventually relapsed from her good habits, resulting in her continuously making unnecessary purchases.
Opportunity: Consistent prompts within the sheet to ensure she keeps on track and practice good financial behaviour.
Over time, Clara started finding it a hassle to constantly update her budget sheet with the small expenses incurred throughout the day and stops doing so as she felt smaller expenses would not affect her long term goal since she was so close to it.
"Wah... sian. I'm so lazy to keep tracking these small expenses, never mind lah, I'm sure I will reach the $10K mark anyways."
"Wah, there's a discount, it's so cheap. Buy only lah!"
With the constant advertisements of one time deals and vouchers from Shopee and Lazada, along with peer to peer pressure to purchase items. She kept spending on unnecessary items.
3 months later, her debit card was suddenly declined when buying food. She checked her bank account and saw that not only was there no balance, but she had exceeded her budget, with the sheet showing a negative amount.
""Oh no…, I am so much further from my planned goal than where I was originally at. Will I ever be able to manage my finances well?”
Feeling distressed, a pop notification showed up on Clara's instagram and she saw IFL’s latest post about their new solution and decided to try it out for herself.
This tool is amazing! It helps me to make more financially sound decisions and practice good financial behaviour!
The proposed solution worked out great for Clara and she found the functions relevant and useful in helping to maintain her financial discipline. She recommended it to her friends and is already back on track towards her long term goals.
Unmotivated
Fear of Missing Out
Anxious
Hopeful
Satisfied
