Insight 1
Excel Ecosystem
Which insight was the Prototype based on?
Primary Research Findings
Scheduling my finances
improves my financial behaviour
Continuous prompts
improve my financial behaviour
agree
(93.7%)
disagree
(6.3%)
agree
(81.1%)
disagree
(18.9%)
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"Tools that can help you plan and track your expenses would be good" - Yu Cheng
Insight #1:
Youths understand the importance of managing their finances. However, they have yet to take proper action in planning and monitoring it.
Secondary Research Findings
Existing excel tools by IFL are dull and complex
- Creating disinterest
- Complexity of financial planning
- Financial behaviors can be improved through scheduled finances and prompts on their financials.
- Potential opportunity: Existing excel tools
by IFL is uninteresting for youths
What is our Prototype ?
Excel
Ecosystem
How will we achieve this?
1
Using Excel dashboard & hyperlink functions
to centralise learning content provided by IFL
Such As:
Financial Planner
Spreadsheets
Infographics
E-Learning
videos
2
Utilising Excel VBA coding to perform two functions:
a) Modify financial planning sheets to provide automated financial reminders and advice in situations where:
Upon Entering
day 5 spendings
Youths exceed their expected budget for
their spendings and savings for the month
Financial prompt pops up automatically
b) but also gamifying financial education learning
experiences to spark interests in financial education for youths
3
e.g. Creation of interactive Quizlets
(Test your knowledge!)
May Cover Topics Such As:
Investments
Retirement
Planning
long-term
Financial Planning
4
and spreading awareness of IFL via the platform as
to boost IFL following and gain social exposure amongst youths
Promotion of Social Channels
38
145
2.12k
4.53k
(extracted from ifl.org.sg)
In a nutshell, an ecosystem is created via Excel as existing and
future content developed by IFL can be easily integrated
5
Cost Structure:
How is this a Long-Term Solution?
"Long-term behaviors are cultivated through consistent practice"
which also enables
Excel allows for users to track and record
Savings & Expenditures
deviation from expected savings and expenditures budget for the month
Pop-up Notifications
financial
reminders
financial
advice
Youths Receive:
Learning content from IFL funneled into platform
Gamified learning experiences
enabled by Excel VBA coding
Increased engagement, unlikelihood of relapse!
"Conclusion"
Consistent practice of financial knowledge
Development of positive long-term financial behavior
Repetitive documentation of finances and adjustments to wrongful financial behavior
Opportunities presented by our Prototype
Opportunity:
"Money in Excel" - Exclusive Add-On
Allows users to import transactions and account information from
bank
Credit
Investment
Loan
Into Excel, creating personal finance spreadsheets within seconds
Our targeted audience are able to visualise financial distance between goals