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Payzwise / Smart Money App for Young

ABOUT PAYZWISE

PayzWise is a smart and accessible app for managing budgets and payments. It separates fixed charges from flexible spending, provides reminders for upcoming payments, enables direct payments through the app, and offers a clear real-time overview of your personal budget. It also includes a simple Save button, making it easy to live comfortably while saving money effortlessly.

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Gain a clear understanding of how much money is truly available for non-essential spending.
Save money in a smart, manageable way without feeling overly restricted.
Stay on top of upcoming payments and avoid missing due dates.
Improve financial awareness and control over time.

GOALS

PAIN POINTS

Difficulty tracking income and expenses clearly
Confusion between fixed and flexible expenses
Uncertainty about how much money is safe to spend
Misses payment deadlines, leads to fees and frustration
Struggles to save consistently over time
Feels financially out of control despite a decent income.

Details

Monthly salary: ₪10,000
Lives in Tel Aviv with a roommate
Wants to save and invest, but struggles to stick to a budget
Frustrated that despite earning a decent salary, he feels like he’s living paycheck to paycheck

Daniel, Tel Aviv, 28
Junior Developer at a Startup

Frustrations

Feels like he earns well, but doesn’t know where his money goes.
Has a hard time tracking irregular or spontaneous expenses.
Wants to save for a big goal (like an apartment or a major trip) but struggles to consistently put money aside.
Often tries to “reset” his financial habits, but quickly slips back into old patterns after a couple of weeks.

Needs

Better control over non-fixed (flexible) spending.
A simple, non-punishing way to plan and stick to savings.
A clear overview of how much money is left each month after all essential expenses are deducted.

User Persona

MARKET COMPETITORS

GoodBudget

Personalization: Users can create custom envelopes based on their individual needs, allowing for flexible and personalized budget planning.

Shared Budgeting: The app allows users to manage a joint budget with partners or roommates, enabling transparency and shared control over expenses.

No bank account synchronization: Every income or expense must be entered manually, which can lead to errors or gaps in real-time tracking.

Requires ongoing and precise maintenance: The manual tracking process can discourage younger or busier users, especially when used daily.

PROBLEM → SOLUTION

Problem 1

Difficulty distinguishing between expense types.

Solution

Clear visual separation between fixed charges and flexible spending.

Problem 2

Confusion and missed payments.

Solution

Centralized view of all bills with real-time notifications.

Problem 3

Tendency to overspend.

Solution

Budget bar that shows available funds after essential expenses.

Problem 4

Inability to save money.

Solution

Dedicated smart savings button with personalized goals.

Rise Up

Friendly and human-centered interface: The app begins with goal-based questions, uses relaxed and simple language, and offers personal support when needed, which helps reduce financial anxiety for beginners.

Real-time synchronization: Automatically connects to bank accounts and credit cards, updating financial data without requiring manual input, which increases accuracy and encourages consistent use.

Requires sharing sensitive financial data: Full functionality depends on access to bank accounts and personal financial information, which might deter users concerned about data security.