Insight 1
IFL Excel Ecosystem
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Focus Point
Making use of prompts within excel to ensure that youths maintain good financial discipline with warnings and encouragement
What are the key features?
1. Constant Reminders
2. Inspirational + Dynamic Quotes
3. Youth Centric + Personalised Sheets
How does the main functions work?
1. Homepage
Excel prompts the user for their name
User enters their name
Homepage is customised to their name
2. Budgeting Sheet
Upon clicking the budget sheet, users will be prompted to key in their monthly cash inflow
1. Allowance
2. Extra Income From Full / Part Time Jobs
3. Bursary/Award Money
Users will key in their daily expenditures in the daily tracker located below
If they spend over the limit a warning prompt will appear
3. Savings
Users will input savings related numbers from the prompts
1. Current Savings
2. Amount To Save Monthly
3. Savings Goal
Users who save more than their target will be encouraged
Another motivational prompt will pop up when they achieve their target goal
Users can either track how much they want to save and how long they want to save
4. Short Financial Quiz
What about the other functions?
Investment Sheet
Justifications
Insight 1
Youths understand the importance of managing their finances. However, they have yet to take proper action in planning and monitoring it.
93.7% agree that scheduling their finances improves their financial behaviour
81.1% says that continuous prompts improves their financial behaviour
"Tools that can help you plan and track your expenses would be good" - Yu Cheng
Existing excel tools by IFL are dull and complex
According to Microsoft, there are more than 1.3 billion devices running Windows 10
Prompts provides guidance on positive and negative financial behaviours
Cost effective as excel is free and available for all!
