Teach And Encourage Your Kids To Save Money With The Help Of This Free And Easy To Use App

Saving money is one of the most important financial habits you need to master to build wealth effectively. While the concept of putting aside money is easy to grasp, saving is actually one of those things that can be easier said than done.

Read also: How To Teach Kids Financial Literacy

Many reasons can derail us from growing our savings. Among them are the failure to effectively track our finances and setting unrealistic savings goals.

These savings roadblocks are what Lista, a bookkeeping mobile app, intends to address as it recently launched its own #IponChallenge along with two new features, Savings and Sales Target.

Why Tracking Is Important In Achieving Savings Goals

Keeping a record of your finances or listing down how your money is being earned and spent is important to guide you in making informed financial decisions. This is what the Lista app aims to do.

When it was launched in 2021, Lista was initially to help "Filipino MSMEs digitize their cash and credit transactions, get cash flow visibility, and help them grow their profits faster."

With Lista's new Savings feature, users are encouraged to create short or long-term savings goals. 

Users will input on the app how much they want to save and set a target date to hit that amount. It has an 'auto-compute' feature that will tell the user how much money they need to set aside daily, weekly, or monthly, to achieve that goal.

From there, Lista hopes to be a trusty motivator to remind users or keep them on track of their progress so they won't miss hitting the target.

The best part is you can download it on the Google Play for free and it can still be used even without an internet connection. Its simple and user-friendly interface is also perfect for those who might find using excel softwares intimidating.

Since it's easy to use, Lista also believes that it can be a helpful tool for parents to introduce and instill the habit of saving in their kids.

Read also: List Of Financial Experts To Follow Online

Lista wants Filipinos to realize the power of saving, and to know that it's actually doable. "Kaya namin ginawa 'yung #IponChallenge para ma-realize ng mga fellow Filipinos natin na 'Ah! Kaya ko palang mag-save,'" Khriz Lim, one of the founders of Lista says during their press launch attended by Smart Parenting.

To make saving more enticing, Lista offers users a chance to win prizes for those who will take on their #IponChallenge. It will be giving away various prizes for users who will successfully complete their savings goal by May 30, 2022. Among the prizes to be given away are brand new motorcycle,  gadgets, business puhunan, and travel getaway! Who knew saving could be this rewarding? 

Watch below (starting with the 24:20-mark) for the full mechanics of #IponChallenge:

Click here to read more tips on how to introduce habit of saving to your kids.