Assignment 14A - Halfway Reflection

Assignment 14A – Halfway Reflection

A.    Tenaciousness is a competency. What are the behaviors that you have used (or developed) to keep up with the requirements of this course?

a.      I have definitely used and developed my time management skills in ENT3003. In terms of workload, among all the classes I’m taking this semester, it is the heaviest, and it is also the most interactive since interviews are a core part of several of the assignments that are given to us. Another skill or behavior that I’ve started to develop is walking up to people and being able to talk to them even though they’re total strangers. As a complete introvert and someone who does not like talking to strangers unless they have to, I had to put my communicate skills to the test in this class, and it has helped me become better at talking to people.

B.    Tenaciousness is also about attitude. Talk about a moment or two when you felt like “giving up.” What pulled you through? Do you feel like you’ve developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?

a.      If there were any moments when I felt like “giving up,” it would always be around the assignments where I had to interview people. Looking up articles and writing about them and thinking of a product or service and its characteristics is not a problem for me, but going up to talk to people is because of my introverted nature. It really forced me out of my comfort zone, and doing those interviews is truly the hardest part about the class because you have to talk to people and you have to search for opportunities to talk to those people.

C.    Three tips. What are three tips you would offer next semester’s student about (1) fostering the skills that support tenacity and (2) developing the ‘tenacious mindset’?

a.      Time management is essential. We only have a certain set of hours given to us during the day, and it is up to us to spend those hours to the fullest, and that means to keep procrastination to a minimum because sudden events that can keep you off track are always a possibility, so keeping your mind focused on work is a big way to do this.

b.     Never underestimate the work you are given, especially at the very beginning of the semester. It’s the very beginning of the semester, so it makes sense that the workload isn’t as heavy as it would be in the middle of the semester, which means that you shouldn’t get used to the light workload and ease of assignments given to you at the beginning because you might get hit really hard when the semester goes on and the assignments become harder and require more effort.

c.      Practice delayed gratification. There will be times where you will want to be lazy and give in to the heavy workload that this class and other classes will give you. Practicing delayed gratification, waiting on giving yourself what you want so that you will feel more satisfied when you do get it, can help develop this tenacious mindset because it helps keeps you focused on a goal, that goal being the reward you will grant yourself when your work is done.

Assignment 13A - Reading Reflection No. 1

Assignment 13A – Reading Reflection No. 1

I read Ray Kroc’s Grinding it Out: The Making of McDonalds.

·        What surprised you the most?

o   I think the thing that surprised me the most was how the company’s first core corporate heads came to be hired into the company. All of them, especially June Martino, were hired by Ray Kroc based off his gut-feeling that had been built through years of experience as a salesperson. Nowadays, having a job in corporate, especially as head of a department, requires a very impressive work history, years of work within the company, and rounds of interviews. 

• What about the entrepreneur did you most admire? 
• I admired Kroc’s work ethic the most. Even though, personally, it was a bit much since it encroached on his personal life in terms of resulting in an unhealthy relationship with his first wife and daughter, his work ethic was one of the most impressive ones I’ve read or heard about. His determination and passion towards growing the McDonald’s business was also admirable. One can say he literally dedicated his entire life to McDonald’s. Through this book, I could see that he was meant to be a businessman, and he was a really good one who was willing to take the biggest of risks and remain headstrong whenever things never went as he planned.
• What about the entrepreneur did you least admire?
• The one thing about the entrepreneur that I didn’t like and did not admire was the way he handled the people in his personal life, more specifically his wives. I personally didn’t like the fact that he divorced his first wife, who he had developed a strained relationship with, because he found another woman he loved and had only known for a few days to two weeks and wanted to marry that second woman, only for her to make the decision to stay married to her current husband. I also didn’t like how he married another woman because he only grew fond of her after a few weeks and then divorced her as soon as he learned that the second woman he fell in love with decided to divorce her husband to marry him. At the very least, I did like the fact that he made sure that both his ex-wives were financially sound when he divorced them.
• Did the entrepreneur encounter adversity and failure? 
• Ray Kroc definitely encountered adversity and challenges, the first of these challenges coming from his previous job selling cups as a salesman under Lily Cup. However, it was because of this adversity and these challenges that started his journey on expanding the McDonald’s business. If he hadn’t quit as a salesman at then Lily Tulip Cup and went on to sell Multimixers, he wouldn’t have learned about the McDonald brothers and been inspired to expand their business. Even during the expansion process of McDonald’s, he ran into problems with constructing buildings to suit the setting and demographic of the place they were building restaurants in, finding ways to finance construction, and even talking with the McDonald brothers about approving the new building design because it was part of their contract. In the end, he did overcome all of these changes and made McDonald’s a very successful business.
• What competencies did you notice that the entrepreneur exhibited?
• I think his competencies lie in his exception salesman skills and his natural abilities as a businessman. Ray Kroc did not have a problem going up to people and talking to them, and his persuasive skills were also impressive, not to mention that whenever he did sell a product to a client, he was good at maintaining a good, stable relationship with them and have them trust him.
• Identify at least one part of the reading that was confusing to you. 
• I didn’t find much to be confusing about the book, but whenever something about finding funding for the company, especially in its early days, that was when I found myself to be most confused. It was when money started to be thrown around, especially really big amounts of money, that I became confused because I don’t yet understand transactions like that and how they operate.
• If you were able to ask two questions to the entrepreneur, what would you ask? Why? 
• If I were to ask two questions to the entrepreneur, the first would be how he maintained his personal life, because the majority of the book was about his work life. Before reading the book, I thought that I would’ve seen more about his personal life, but there was very little about it mentioned in the book other than when his wives were mentioned. I would also ask what it was that kept his determination going when he began to reach an age where it would be difficult for him to work and even to move around and walk.
• For fun: what do you think the entrepreneur's opinion was of hard work? 
• I think that Ray Kroc’s opinion of hard work was that it required a lot of risk in order to gain and maintain a high level of success. He also mentions that “happiness is not a tangible thing,” and that it is a “byproduct of achievement.” I do agree with this opinion of hard work, because a person could work hard to reach a goal, but that doesn’t guarantee that the goal can be reached. Hard work consists of rounds of failure before being successful. I also agree, to some extent, with what he said about happiness being a “byproduct of achievement,” because a person can’t be happy or be in a happy mindset all the time. It takes a lot of control over someone’s own thought-processes and emotions to make the most out of a bad situation, and that having that control or gaining that control takes a lot of practice and work.   

Assignmenet 12A - Figuring Out Buyer Behavior No. 1

Assignment 12A – Figuring Out Buyer Behavior No. 1

Choosing a segment: 

For this assignment, I chose a segment of college students with part-time jobs. All three of my interviews were with people who work part-time while also juggling the workload of a full-time college student. One, is a student at Santa Fe college and is looking to transfer to UF one day. He has a part-time job working as a dishwasher. Another, is a student at IU Bloomington who works a part-time job working at his cousin’s car shop. The third person, an undergrad student at UF, has a job where her work hours are flexible, but earning a good amount of money can be tough since it comes from commissions.

Interviews:

·       Interview 1:

o   My first interviewee did have a problem about being able to save up a decent amount of money for the future, but his worries lie more within keeping track of the money rather than the method he is using to save money. This interviewee learned from his parents about how to save his money and how to be careful with how much his purchases costs. As a person who prefers to save than spend, he doesn’t have much of a problem with sticking to his method of saving money. He also said he doesn’t make much at his job, so he can’t spend a lot of money anyway even if he wanted to. When I asked when his worries came to mind, he said that it only pops up whenever he’s considering buying something. When he’s not sure about something financially, he either goes to his parents or goes to Google and type in anything related to his worries, admitting that it would probably take him multiple searches before he finds what he’s looking for.

·       Interview 2:

o   Answer: My second interviewee is worried about managing his money now, because he has now personal finance skills since he’s never taken a class on it or learned any from his parents, which leads him to feel more worried about how he’ll handle his money in the future. When I asked him in what situation he thinks about this, he told me it usually happens whenever he has a depressive episode, because he has depression. He also said it hurts him a little bit whenever he makes a purchase. He did tell me that he is less worried about how to go about saving a decent amount of money rather than where his money goes in terms of the purchases he makes. He did say he was open to the idea of purchasing an app that not only keeps track of his spending but also his spending habits, where he spends his money. If he had any worries about how to budget or save, he’d preferably want to seek out a personal financial advisor or go to his parents rather than search anything on Google or a group of friends. When I told him about my product idea, he did say he would be interested in purchasing it for how it helps him keep track of his money and the daily budgeting tips that it will give him because he thinks he “seriously needs help” with his personal finances.

·       Interview 3:

o   My third interviewee does have the problem of wanting to know how to budget better and how to save money; however, it’s not as urgent or one of her primary problems. She grew up in a family who was very frugal in nature, and she picked up the skill naturally, but she would still like to learn more about personal finances, especially since the good majority of the money she earns at her job goes towards paying for college expenses. She said that she keeps track of her spending and the money she earns and what it goes into in a spreadsheet that she made for herself, which takes up a lot of time since she has to input data manually. She also said that she doesn’t worry much about expenses for the most part, only when she’s keeping track of it to make sure she didn’t go over budget. When she does want to learn more about how to budget and save, she mostly goes to Google and searches for “budgeting and saving tips” as well as other things such as “what is a roth ira” and “what is a 401k.” When I told her about my product idea, she did express interest in purchasing it for the ease of keeping track of her spending and the budgeting tips and especially the articles that would be provided by the app since she wouldn’t have to spend time searching for it on Google.

What I learned: 

I learned that the demand for individuals to buy this product is rather high. Most of the people I interviewed, have worries about saving a decent amount of money in the future and handling their money in the present and even more so in the future. Though they all expressed interest in buying my product, they all wanted it for different reasons. My first interviewee was comfortable and confident in his solution to saving money and believed he could still utilize it in the future and wanted the app just for its money-tracking ability. My last two interviewees wanted the app for both its money-tracking ability and the daily budgeting and saving tips it gave; however, my third interviewee was the only one who expressed seriously interest in wanting to read the articles. They did all agree that a personal finance class should be taught to students starting in high school at the very latest, since students at that age are starting to want to look into getting a job. They also agree that having an app that helps you track your money and spending habits isn’t an efficient or effective substitute for a formal personal finance education.

When I asked how they would search for a solution to a problem, their answers varied also. They ranged from talking to parents, to searching for articles on Google, to even seeking out a personal finance advisor.

How I would describe this segment: 

I think that there are a lot of college students who have at least had the thought of handling and saving money cross their mind. It’s hard not to think about it once in a while since paying for college costs so much and the only ways to even come close to paying for it all with little to no debt are through scholarships, grants, loans, and having a job.

Assignment 11A - Idea Napking No. 1

Assignment 11A – Idea Napkin No. 1

1.     Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life.

a.      My name is Kaitlyn Legaspi, and I’m a freshman studying Business Management. I did a lot of volunteer work when I was in high school, especially at a local soup kitchen in the city, so I have experience working in a busy and fast-paced environment and working in a team setting. I have talked to friends and different people about heavy topics that cause a lot of pain. I love helping people out with problems or concerns they may have to the best of my ability. My aspirations in life include continuing to do what I love most, which is write stories, and ultimately travel and try new things along the way. If I were going to start this business concept, it would play a big role in my life because I would be responsible for driving its success and reliability for other people, which takes a lot of money and time.

2.     What are you offering to customers? Describe the product or service (in other words, how you’ll solve customer’s unmet needs).

a.      I am offering a product, an app, that helps keep track of finances and also gives tips and advice on how to budget their money in addition to keeping track of finances. This product is mainly for individuals who have trouble budgeting their money and also want a simple way of how to manage their money more efficiently. The app doesn’t only keep track of finances and shows where a person’s money is going (groceries, leisure, etc.), but it also gives daily tips on how a person can save money while also being able to pay for the daily to yearly things they pay for. The app is a means to keep track of money and a way people can learn personal finance skills.

3.     Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

a.      I am offering it to one large, general group with different subsets within it.

                                  i.     The first subset that I am offering it to are high school and college students who have jobs and are looking for a means to track their money and get easy tips on how to manage and save it. I specifically say students who have jobs because students who don’t have jobs are more likely to put off wanting to learn more about personal finances and keeping track of money until they are looking or until they actually have one. Their need for having these skills isn’t as immediate as those who are already working

                                ii.      The second subset I am offering it to is general. This subset consists of people who have already graduated from college and are part of the workforce. This includes people who are single, in a relationship, and parents who have one or more kids.

4.     Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.

a.      I believe that customers will pay me money to use my product because financial literacy and feeling financially stable is a big issue in the U.S. Most schools in America do not offer or have personal finance classes or a class that resembles a home economics class, where personal finance skills are taught. Schools that do have a class like this fall short on effectively teaching students since most teachers say they don’t feel qualified to teach such a class. A good majority of people in workforce do not feel financially stable, whether or not they live above or below the poverty line and whether or not they live paycheck to paycheck. This is especially true for people who have already graduated from college and have landed a job. They have more to keep track of in terms of money of personal finance. In addition to grocery and leisure expenses, they have to keep track of loans, paying off their house and car, and saving money for their kids to go to school if they have kids. They are more likely to want an efficient way of keeping track of finances and also more likely to be worried about where they stand financially, a worry that a great part of the population in the U.S. share.

5.     What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?

a.      There are many competitors in financial tracking, such as Mint, Wally, and Acorns. All are good apps to keep track of finances and save, but they do not actively give tips on how to better budget people’s money and save for the long term. They are apps who help keep track of money and save in the smallest of ways, but that isn’t a full, well-rounded substitute for personal finance skills that a person can be taught.

In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker/out-of-joint with the others.

·       I believe that these elements work well together, but there is a main part that I think is weaker than the rest. That is my lack of connections for the developing the app and those that can help with marketing and advertising the product. There is a possibility of me meeting these connections in the future, but as of now there isn’t anything that really sets me apart from everyone else. Other than this weakness, I do believe that my target audience is an appropriate one.

Assignment 9A - Testing the Hypothesis, Part 2

Assignment 9A – Testing the Hypothesis, Part 2

·       Who: Through my interviews, I found that there are multiple groups of people that fall outside of my market.

o   From what I learned from my first interviewee, the first group consists of people who have studied finance in college, have a job handling finances and accounting, and are already confident and comfortable with their current personal finance skills in their daily lives and have no need for an app to track their finances.

§  This group is basically their own personal finance resource and have the least need in looking up tips on how to budget and what to consider when making big purchases such as buying a house. They would also be most aware of where their money goes.

o   Another group of people that fall outside of my market is made up of people who have grown up being taught frugal habits by their parents and are simply frugal people in general, information I received from my third and fourth interviewees.

§  Much like the first group, this group of people are also more aware of where their money goes and are more careful in where they put their money, where they spend it, and what they spend it one. These people are more likely to buy what they need rather than what they want as well as stick to a budget that they have made for themselves.  

o   The last group of people who belong outside of my market is made up of those who don’t want to learn too deeply about the ins and outs of big purchases such as buying a house and will look up how to go about it when they get closer to the big purchase, something I learned from my second and fifth interviewees.

§  The people in this group is simply not interested in learning more about personal finance or feel no immediate need or urgency in learning about it until they know they will be doing something financially big, such as buying a new car or a house.

·       What: Budgeting is different for everyone depending on whether or not they’re single, in a relationship, or have a family. This also depends on each individual’s income and also whether or not they think their budgeting could be better, so an individual’s need to better their personal finance skills is subjective.

·       Why: I think the need differs between individuals who have studied finance and those who haven’t, but other than that, I believe the need is there, and the only difference is the sense of urgency an individual has to better their personal finance skills.

	Inside the Boundary	Outside the Boundary
Who	High school and college students who are worried about how well they’ll be able to budget their money in the future Older undergrad or graduate students who will or already have a job Adults who have a hard time budgeting and would like to learn more about personal finance	Those who have studied finance in college or have jobs in finance and accounting People who were taught good financial habits as children or are characteristically frugal people People who don’t feel an urgent need to learn how to budget better or learn more into what goes into big purchases
What	To learn how to budget better via tips and advice To learn how to go about big purchases To keep track of finances	Not to teach a whole class on personal finance Not a substitute for personal finance skills
Why	People may not have been taught personal finance skills in school People’s parents may not have taught them how to manage their money Their family’s financial situation may not have left room for learning how to save money

Assignment 8A - Solving the Problem

Assignment 8A – Solving the Problem

·       My product is for those who want an easy way to keep track of their finances and spending while also learning ways on how to better budget and save their money.

·       There are apps out there like Mint and Dollarbird that help people keep track of their money, but there are those out there who would like to learn or receive tips on how to better budget and save their money. While these apps do help them keep track of their expenses, they don’t necessarily give these tips to the people who use them. The product I have in mind assists people in keeping track of their money while also providing blurbs of information and facts of how they can budget better.

·       I have a few ideas of how this can be accomplished while also catering to each consumer’s money-tracking needs.

1.     The product is offered on both mobile devices and PCs, so users can either utilize one form or both if they so choose since their newly made account, whether or not it was made using a computer or a phone, is automatically linked to the other format.

a.      For example, if someone were to make their account on the mobile app, they would also be able to access that account through the website form of the app, and all activity done on the mobile app can be accessed by using the website and vice versa.

2.     In addition, the app is free, and if the users ever want access to more of its features, they will have to subscribe, which will be described in more detail further down.

3.     At the start of the use of the app, the user will have the choice of linking the app to an existing bank account or not.

a.      Those who choose to link their app to an existing bank account would be those who would prefer the tracking of their spending to be automatic for them to check at their own leisure.

                                                              i.     While inputting their bank and personal information, between each page of needed info, users will see a brief page of a budgeting or money-saving tip.

                                                            ii.     When creating the account, the user will also be asked to create a number of categories their bank account activity can be divided into. They can be named anything, such as groceries, leisure, deposit, withdrawal, etc.

1.     The user will further categorize these into the “taking money” category or “putting in money” category

                                                          iii.     For every bank account activity that is automatically kept track of, the user gets to place it into the categories they previously made. With each categorization of the activity, a small tip or finance fact will pop up on the screen for them to read depending on the category they placed the activity in.

1.     The product will already have a set of possible names these categories could have and relative facts linked to each possible category.

                                                          iv.     If the user ever wants to see where they spend their money among the categories they have made, they can view a pie chart of their “taking money” category with the percentages of money spent in each category

1.     This is done so they will learn and keep track of their own spending habits

                                                            v.     Users of this category will have the choice of linking more than one bank account if they so choose.

b.     Those who choose to not link their app to the bank account would be those who would prefer to keep track of their spending manually.

                                                              i.     Manual trackers will be keeping track of their finances via a spreadsheet-like format. They will be able to make their own categories similarly to the ones mentioned previously, only they have to put their bank account activity in themselves.

1.     These categories will also be placed into either “taking money out” or “putting money in.”

2.     The spreadsheets can also be divided by time, such as weekly, monthly, or yearly depending on the user’s preference.

                                                            ii.     For every activity inputted, depending on the category, a budgeting or personal finance blurb will pop up on the screen similar to how it works for the automatic tracker.

                                                          iii.     If the user ever wants to see where they spend their money among the categories they have made, they can view a pie chart of their “taking money” category with the percentages of money spent in each category

1.     This is done so they will learn and keep track of their own spending habits.

                                                          iv.     Users of this category will have the choice of making more than one spreadsheet if they so choose.

1.     This would be if they would want to keep track of more than one bank account using the product.

c.      If users wish for the app to solely be for tracking and not for giving tips and advice, there is an option once the account has been made to turn off these advice pop-ups

d.     In each budgeting tip or personal finance fact pop-up there will be a Learn More link that the user can tap on, and it will send them to an article telling them the relevance of the tip, why it is important, and how it can be better utilized.

                                                              i.     This access would only be provided through a low-price subscription to the app.

                                                            ii.     If already subscribed, the user will have access to a tab for finance articles on the app that they can read at their leisure. These articles are searchable so that users will be able to find the article they need most without scrolling through every one.

1.     For example, if the user wanted to know more about what goes into buying a house, they would search that and the appropriate articles would come up.

·        This product is limited to those who have a smartphone and/or a laptop at their convenience, meaning that people who don’t have either would not be able to access it, but I believe most people in the U.S. at least have a smartphone and/or a laptop, so I would think that access to the app or website would be fairly easy for most people.

Assignment 7A - Testing the Hypothesis Part 1

Assignment 7A – Testing the Hypothesis Part 1

Educating Students on Personal Finance Skills

• Opportunity:

• It’s getting harder for students in high school and college to be educated on how to handle their personal finances since classes such as the home economics class are continuing to be removed from school curriculums and parents being a possible unreliable resource for learning such skills.

• The who: High school and college students
• The what: They are less likely to know how to handle their personal finances and make sound financial decisions in the future.
• The why: Schools are not focused on teaching students the practical skill of how to manage finances, and students’ parents may not be reliable resources to learn from.
• Testing the who: The “who” would be more focused on students since they are more likely to not have had a job yet or at least a job that would help sustain them on their own financially. However, the need may not be limited to students as there are adults who have graduated from college and have their own jobs who have not been educated or taught practical personal finance skills. The need becomes more critical as a person gets older and becomes closer to being a permanent part of the workforce. While some high school students may not find personal finances necessary, college students who are looking for jobs and adults who already have jobs may consider the skill crucial to have.
• Testing the what: There are classes in school that have a form of financial education, the obvious ones being the finance classes offered to finance majors in colleges. In this way, financial education, even personal finance education, is limited to a small number of students. In addition, the issue of giving students a financial education could be an issue on a state government level. For example, in the 2018 Survey of the States, in 2018, it was found that only one third of states required a personal finance class in order for high school students to graduate. (https://www.councilforeconed.org/policy-and-advocacy/survey-of-the-states-2/)
• Testing the why: Primarily, schools don’t offer classes that teach students practical daily skills such as managing their own finances, and parents are automatically the next best resources to go to for a student to learn those skills because they’re conveniently close and are managing their own finances already. However, students’ parents may not have had any personal finance education either, or they might not be the best at making financial decisions, making them hesitant to teach their kid how to handle their money. There are online software and mobile apps that help people track their money and spending, but students may not be aware of them because they haven’t been exposed to advertisements or because they haven’t looked for these resources because they don’t have a job yet.
• Interview #1:
• This interview was done with a female undergrad student who never received any formal education about how to manage her personal finances, but she has received advice and tips as well as good frugal habits from her parents. Though she isn’t worried about handling her money now, she is worried about how she will handle money in the future because she has little understanding of how more important things such as taxes, mortgages on a house, and bank loans work, things she believes she will encounter when she gets a job after graduation. After asking her a few questions about them, I learned she has never heard of online software and mobile apps that help keep track of people’s finances and spending. She believes that ultimately, they will help on a day-to-day basis, but she would also like to accommodate that with actual personal finance education either in a class setting or a credited online class that isn’t too expensive to pay for.
• Interview #2:
• This interview was done with a male undergrad student who has not received any formal education on personal finances or tips and advice from his parents on how to handle his money. Just like my first interviewee, he isn’t so worried about how to handle his money now, but he is worried about financial decisions he’ll make in the future. He didn’t know about already existing online software and mobile apps that help people track their finances and spending. He would maybe use them in the future, but he would rather receive an actual education on how to handle his money because he believes the apps are just supplements to the financial knowledge people already own. If he were to receive the education, he would want to receive it in the form of an online class, but he’s not sure if he’d pay for it if it wasn’t free. 
• Interview #3:
• This interview was done with a grad student studying psychology who hasn’t received any formal education concerning personal finances or tips from her parents. She believes that people have trouble with personal finances because it isn’t focused on and school and wonders if someone’s economic status affects their budgeting skills. She is aware of a few mobile apps that keep track of finances and spending, but she doesn’t use them because they require her to connect them to her bank account. She also thinks that the software programs and mobile apps would only be good as a supplement because they only help keep track of your money and not how to really budget. When asked how she would like to learn personal finance skills, she said she would like to do a face-to-face personal consultation or group consultation with someone who will teach her the skills and then have her practice them on her own before coming back and learning a new skill. She thinks that if it were offered as an online video, people may not feel motivated to watch the video on their own since it’s not like a formal appointment like a consultation session. She would only pay for a service like this if it were reasonable, individualized, and she were meeting the person teaching her multiple times.
• Interview #4:

·        This interview was done with a female undergrad student who didn’t receive education on personal finance in school but did used to read books about it and received tips and advice from her parents. She believes that people have trouble handling their money because of their lack of exposure to the concept as children. She did say that she was aware of a few mobile apps that keep track of people’s spending, but she prefers to use programs like Excel to keep track of her expenses. In addition, she believes that they are only a supplement to what she already knows. Unlike my previous interviewees, she prefers to read books and articles on how to handle her finances, and she’d pay for the service if the price was reasonable in her opinion.

• Interview #5:
• This interview was done with a man in his thirties with a job who grew up on a farm that his parents involved him in, especially in terms of finances, so he’s familiar with basic budgeting and also what goes into bigger purchases, such as buying a house or a car. He believes that the reason why people have a hard time handling their personal finances is because they might not be earning more than what is necessary to pay their bills rather than the lack of education. He has tried using apps to help keep track of his money, but because he is so exposed and familiar with finances, he’s felt no need for them in his personal life. He also thinks that they’d only be good as a supplement since what they do is track money and not teach people about personal finance. He suggested the idea of an app that both keeps track of people’s finances and spending while also giving them skills of how to save money and what goes into making big purchases such as buying a house in addition to daily personal finance facts on a daily basis.
• Given your interviews, what do you know about the opportunity that you didn't know before? 
• The interviewees all gave me different forms from which people who are looking to learn about personal finances can learn, two of which are forms I had never thought of before: the group consultation, and the app that keeps track of spending while also giving the user little blurbs of daily knowledge.
• I also learned about another group who may have this need for personal finance education, and this group comprises of people who only earn enough to pay their bills and are unable to save much money if any at all, making it hard for them to go to available outside resources even if they wished to because they may not have the means to pay for said resources.
• Given all of their reasons why they think people have trouble budgeting their money and the forms in which they would be willing to receive their education made me put a lot of thought into what the good or service would be and how this knowledge could be given.
• I was surprised at how casual they were in talking to me about this topic. This shows that this need really does apply to everyone and anyone. Everyone can learn or improve on their budgeting skills and the knowledge they have on finances. I think it also shows that it’s a worry that everyone shares.