Figma Showcase - Empowering Financial Independence in Teens: A Product Management Journey

Hello everyone!

As a seasoned product manager, I often find myself tackling a multitude of challenges in my day-to-day work. Yet, it's the projects I take on outside of my regular job that often excite me the most due to the novelty they offer. Today, I'd like to share my journey with a product I'm designing that aims to balance the financial independence of teenagers and the monitoring needs of their parents.

1. Identifying the Customer Segments:

The first step in any product management journey involves identifying the customer segments. For this product, two clear customer segments emerged: the teenagers who seek financial autonomy and their parents who aim to oversee their children's spending habits. Teenagers yearn for a platform where they can manage their finances without constant parental supervision, while parents desire to instill responsible spending habits in their kids.

2. Creating Personas:

Once the customer segments were clear, the next step was creating user personas. I utilized Figma, a collaborative interface design tool, to craft detailed personas for each of our primary users - a teenager and a parent.

For the teenager, "Rohan Sharma", a 16-year-old high school student, I focused on his desires for financial independence and his frustration with having to ask his parents for money every time.

For the parent, "Meena Gupta", a 47-year-old high school teacher, the emphasis was on her needs to track her child's spending and teach him financial responsibility.

3. Low-Fidelity Wireframes:

With the personas ready, it was time to focus on the product itself. I began with sketching out low-fidelity wireframes for the product. The wireframes were simple and focused more on the functionality of the product, showcasing the customer journey from both the perspectives - a teenager user and a parent user. View Low-Fidelity Wireframe

4. High-Fidelity Wireframes:

After feedback and iterations on the low-fidelity wireframes, I moved to create high-fidelity wireframes. These included more detailed elements, such as the design, navigation flows, and visuals. The wireframes provided a more accurate representation of what the final product would look like.

View High-Fidelity Wireframe

5. Prototyping and User Testing:

With the high-fidelity wireframes in place, the next stage involved prototyping and user testing. Using Figma, I created an interactive prototype that allowed me to test the product's flow, identify possible pain points, and observe the product's usability. The testing phase is crucial, as it often reveals insights that might have been missed during the design and wireframing phases.

View Prototype in Figma

As I continue with this project, the next steps will be refining the product based on feedback from the user testing and iterating on the design. The ultimate aim is to create a product that can meet the needs of both teenagers and their parents, promoting financial literacy and responsibility while providing the desired independence and oversight.

This project has been an exciting journey, offering the opportunity to delve into an interesting segment of financial tech and bring valuable solutions to real-life situations. As with all product management ventures, the key lies in understanding our users deeply, validating our assumptions continuously, and being agile and open to change.

Stay tuned for more updates on this project! Feel free to drop any questions or suggestions in the comments section below.