A Budget Setting Design Intervention for Reducing Personal Expenses for Chinese Young Generation

Yuxiang Yan; Huaxin Wei; Jeffrey C. F. Ho; Analyn Yap

doi:10.1007/978-3-030-73426-8_25

A Budget Setting Design Intervention for Reducing Personal Expenses for Chinese Young Generation

Yuxiang Yan, Huaxin Wei, Jeffrey C. F. Ho, Analyn Yap

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

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.

Original language	English
Title of host publication	Interactivity and Game Creation
Subtitle of host publication	9th EAI International Conference, ArtsIT 2020, Aalborg, Denmark, December 10-11, 2020, Proceedings
Editors	Anthony Brooks, Eva Irene Brooks, Duckworth Jonathan
Place of Publication	Cham
Publisher	Springer
Pages	409-424
Number of pages	16
ISBN (Electronic)	978-3-030-73426-8
ISBN (Print)	978-3-030-73425-1
DOIs	https://doi.org/10.1007/978-3-030-73426-8_25
Publication status	Published - 10 Apr 2021

Publication series

Name	Lecture Notes of the Institute for Computer Sciences, Social-Informatics and Telecommunications Engineering, LNICST
Volume	367 LNICST
ISSN (Print)	1867-8211
ISSN (Electronic)	1867-822X

Keywords

Behavioral economics
Interaction design
Personal finance
Spending control

ASJC Scopus subject areas

Computer Networks and Communications

More information

10.1007/978-3-030-73426-8_25

Cite this

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 A. Brooks, E. I. Brooks, & D. Jonathan (Eds.), Interactivity and Game Creation : 9th EAI International Conference, ArtsIT 2020, Aalborg, Denmark, December 10-11, 2020, Proceedings (pp. 409-424). (Lecture Notes of the Institute for Computer Sciences, Social-Informatics and Telecommunications Engineering, LNICST; Vol. 367 LNICST). Springer. https://doi.org/10.1007/978-3-030-73426-8_25

Yan, Yuxiang ; Wei, Huaxin ; Ho, Jeffrey C. F. et al. / A Budget Setting Design Intervention for Reducing Personal Expenses for Chinese Young Generation. Interactivity and Game Creation : 9th EAI International Conference, ArtsIT 2020, Aalborg, Denmark, December 10-11, 2020, Proceedings. editor / Anthony Brooks ; Eva Irene Brooks ; Duckworth Jonathan. Cham : Springer, 2021. pp. 409-424 (Lecture Notes of the Institute for Computer Sciences, Social-Informatics and Telecommunications Engineering, LNICST).

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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{\textquoteright}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, JCF & Yap, A 2021, A Budget Setting Design Intervention for Reducing Personal Expenses for Chinese Young Generation. in A Brooks, EI Brooks & D Jonathan (eds), Interactivity and Game Creation : 9th EAI International Conference, ArtsIT 2020, Aalborg, Denmark, December 10-11, 2020, Proceedings. Lecture Notes of the Institute for Computer Sciences, Social-Informatics and Telecommunications Engineering, LNICST, vol. 367 LNICST, Springer, Cham, pp. 409-424. https://doi.org/10.1007/978-3-030-73426-8_25

A Budget Setting Design Intervention for Reducing Personal Expenses for Chinese Young Generation. / Yan, Yuxiang; Wei, Huaxin ; Ho, Jeffrey C. F. et al.

Interactivity and Game Creation : 9th EAI International Conference, ArtsIT 2020, Aalborg, Denmark, December 10-11, 2020, Proceedings. ed. / Anthony Brooks; Eva Irene Brooks; Duckworth Jonathan. Cham : Springer, 2021. p. 409-424 (Lecture Notes of the Institute for Computer Sciences, Social-Informatics and Telecommunications Engineering, LNICST; Vol. 367 LNICST).

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

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AB - 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 JCF, Yap A. A Budget Setting Design Intervention for Reducing Personal Expenses for Chinese Young Generation. In Brooks A, Brooks EI, Jonathan D, editors, Interactivity and Game Creation : 9th EAI International Conference, ArtsIT 2020, Aalborg, Denmark, December 10-11, 2020, Proceedings. Cham: Springer. 2021. p. 409-424. (Lecture Notes of the Institute for Computer Sciences, Social-Informatics and Telecommunications Engineering, LNICST). doi: 10.1007/978-3-030-73426-8_25

A Budget Setting Design Intervention for Reducing Personal Expenses for Chinese Young Generation

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