Financial management app Lista has unveiled a new tool to help all Filipinos get their finances in order. The new Personal Budgeting feature within the Lista app was created to empower people to become more proactive in reaching both personal financial targets and long-term value investments.
According to the latest data from Lista, motorbikes topped the list of things its users are saving app for this year, with an average target budget of P54,000. It is followed by new phones at P25,000, travel at P23,000, and Christmas celebration needs at P17,000.
“Being aware of how we spend is one of the best ways to utilize money. Through Personal Budgeting on Lista, we envision every Filipino to easily gain financial clarity through the help of technology,” said Aaron Villegas, co-founder of Lista. “With the holidays coming up, whether you’re planning to buy gifts or a spread for your Christmas celebration, Lista makes it easy to see where your hard-earned money goes, and helps you maximize your budget to help you give more to what’s most important in your life.”
The Personal Budgeting feature on Lista is easy to use and navigate. Users can set a budgeting cycle from weekly, semi-monthly, or monthly periods. Users then list their expenses and get reports on their spending plus additional insights and tips for better budgeting.
Three buckets of income
For users in need of a little more help when it comes to creating a budget, Lista can suggest one guided by the 70-20-10 principle that segregates income into three buckets:
- Needs (70%)
- Savings (20%)
- Wants (10%)
While this method can be ideal for people learning how to manage their income, a user’s budget can also be further personalized and adjusted at any time.
“Lista was created to help every Filipino raise their quality of life, one step at a time. Beyond the holidays, budgeting is a great way to gain control over your income, which is why we’ve made it easier for Filipinos to create a budget, stick to it, and use it as a tool to gain greater financial freedom,” said Khriztina Lim, co-founder of Lista PH.