Lista, a money management tool for small business owners, freelancers and individuals, has launched the Ipon Challenge, a time-limited activity that encourages every Filipino to set savings goals.
“Lista wants to encourage every Filipino to set savings goals for the things they dream of, whether they start small or go big with a down payment on the car. With the help of our partners, we look forward to seeing everyone complete their Ipon challenge and helping them progress towards the goal of understanding their finances and empowering them to make better buying decisions.” , said Lista co-founder Khriz Lim.
The Ipon Challenge aims to empower Filipinos to reach their savings goals or set financial goals for the things they want to buy using their two main new features.
The savings feature allows the user to track their savings for their next dream item, whether it’s a phone, car, or vacation. The sales target feature allows business owners to set a profit target for their business. Users will be able to customize their target time frame and amount using the feature.
Due to uncertainties caused by the COVID-19 pandemic, a survey by Hong Kong-based AIA Group Limited found that more Filipinos are saving more money without careful preparation.
While Filipinos seem to have a more disciplined attitude towards saving, a quarter of respondents simply save the money they have after spending without adopting a proactive savings strategy, and 22% have put aside a specific aggregate amount. Only 29% of people make a list of their savings goals and set aside money to reach them.
Lista intends to make financial planning and literacy more accessible to millions of Filipinos, helping entrepreneurs manage their digital cash, standardizing debt collection, and helping them manage their personal budget and grow their businesses through savings and goal setting.
With the new features, every user can start small, with a goal as low as P500, or go big, with a car deposit. The Lista app includes features like hosting “ipon challenges” and tracking users’ progress so they can stay on track with their goals.
“Lista is here to help Filipinos manage their finances, from saving to managing debt to increasing or achieving target profits for businesses and businesses,” Lim said.
The Ipon Challenge was created to officially launch the two new features which the founders hope will help more Filipinos get into the habit of proactive saving. The campaign hopes to encourage new and existing users to explore the feature and participate in the savings challenge, which aims to help users learn how to set and stick to financial goals, both short and long term.
Anyone with the Lista mobile app can participate in the Ipon challenge for a chance to win Lista grand prizes as well as weekly minor prizes. Interested participants can download the Lista app, register with their mobile number and then create a savings challenge using the “savings” icon.
Participants are required to enter their savings at least twice a week, depending on their daily or weekly savings amount. The deadline to reach their goal is before May 30, 2022.
Once participants reach their savings goal, they will receive a savings badge. To be eligible for the raffle, participants must share a screenshot of their savings badge on Facebook with the hashtag #IponChallenge and tag the Lista.
Each savings challenge is equivalent to one entry into the raffle. Prizes include a new motorbike, Macbook, mobile phone, Ikea gift voucher worth P10,000 and a summer getaway package for two. The winners will be announced on the Lista PH Facebook page.
Lista has partnered with SariSuki, a community shopping platform that delivers fresh groceries right to her doorstep, which will offer P10,000 worth of Kabuhayan Package.
Financial services company Sun Life Philippines, in partnership with e-commerce platform Lazada, will also be giving away weekly vouchers that will entitle winners to one year of free Life Armor Insurance coverage.
Lista is a free accounting app for Filipino MSMEs that aims to help them digitize their cash and credit transactions and gain visibility into cash flow, which can help them increase their profits.
Lista not only tracks business transactions, but also provides a simple invoice generator, especially beneficial for freelancers, an easy way to collect debts with free text reminders and a savings challenge to help people save for their Goals.
Since its launch early last year, Lista has received 600,000 downloads.