Oliver 9 0 0 5 min to read

Improved financial management abilities during the pandemic

Cebuano Cebuano English English Filipino Filipino


Budgeting is a goal for both individuals and families, but when the pandemic struck and many people lost their sources of income, it became more important than ever to take it seriously.

Lista, a Filipino-owned financial management software, has 1.4 million downloads worldwide, according to co-founder Aaron Villegas, who started the company in November 2021.

The program offers users goal-driven financial management tools for both personal and corporate use, including sales targets, inventory, and savings, the latter of which is reinforced by a savings challenge to inspire more users to practice sound money management.

In an interview, Villegas stated that they did not anticipate an immediate increase in the number of app downloads but did point out that this was partially due to users who created Facebook groups to promote Lista and share money management tips.

“The reason is that it’s challenging to raise your wage after you reach a certain level. You just prefer to learn how to handle and enhance what you already have, he remarked.

Villegas claimed, based on data, that 30 to 40 percent of people who use the app participate in the savings challenge, which was introduced in September.

Many of our users utilize it to save money for things like education, a home, and motorcycles, he claimed.

Villegas is hopeful that more individuals would take up the savings challenge because, according to user comments on Facebook groups, some people have succeeded in achieving their objectives.

The app’s budgeting tool was introduced by Lista on Tuesday. According to Villegas, this feature is meant to motivate users to further improve their financial situation.

The program offers advice like the 70-20-10 rule, which states that 70% of income should go toward meeting necessities, 20% should be saved, and 10% should be spent on wants.

During the same event, Lista co-founder Khriztina Lim revealed the findings of their survey on the items that Filipinos expect to save money for and spend money on over the holidays.

The top item on the list is a motorcycle, with a target price of about PHP54,000. Next are mobile phones ($24), travel ($23), and Christmas celebration expenses ($17,000).

Lista, according to Lim, was created to assist Filipinos in “raising their quality of life, one step at a time.”

“Budgeting is a terrific method to take control over your money, beyond the holidays, which is why we’ve made it easier for Filipinos to make a budget, stick to it, and utilize it as a tool to achieve greater financial freedom,” she said.

With a USD5.8 million investment from local investors, including Openspace Ventures, Saison Capital, Monde Nissin, and 1982 Ventures, Lista is a Series A start-up company.

Villegas claimed that there are attempts to raise investments even further and that investors are being contacted.

We anticipate performing another cycle, but I am unable to provide specifics regarding the time.


Cebuano Cebuano English English Filipino Filipino


***
We appreciate your reading. You may also consider sharing it with others.
Please comment below if you found this post interesting.
Be one of our DONOR / SPONSOR to support NextGenDay news website.
***
Please follow and like us:
error2
fb-share-icon
Tweet 2k
fb-share-icon20
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
error

Enjoy this blog? Please spread the word :)

0
Would love your thoughts, please comment.x
()
x