Abstract
In China, the young generation faces the problem of low savings, partially due to their lack of self-control in monetary spending. This paper would like to provide a design solution to reduce this demographic’s spending based on a literature review covering such behavioral economics theories as mental accounting and prospect theory. A quantitative research method consisting of surveys and experiments were conducted to collect design insights from users. Our proposed design is a budget setting and spending tracking system in the form of a mobile application and a smartphone case. This system uses a relational display of value and cost to primarily help users reduce spending by setting up a limited budget and facilitate the recording of transactions. Based on user evaluation of the initial prototype, we reflect and summarize a set of strategies for future design for personal finance .
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Yan, Y., Wei, H., Ho, J.C.F., Yap, A. (2021). A Budget Setting Design Intervention for Reducing Personal Expenses for Chinese Young Generation. In: Brooks, A., Brooks, E.I., Jonathan, D. (eds) Interactivity and Game Creation. ArtsIT 2020. Lecture Notes of the Institute for Computer Sciences, Social Informatics and Telecommunications Engineering, vol 367. Springer, Cham. https://doi.org/10.1007/978-3-030-73426-8_25
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DOI: https://doi.org/10.1007/978-3-030-73426-8_25
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