PERSONAL FINANCE FEATURE: MYLIVEOLIVE app

Online Company Extends a Branch to Women on How to Deal With Finances
Lisa Siregar | December 25, 2012

Samsung

Money is often seen as something frightening for people who do not posses knowledge about managing their income and expenses.

Jocelyn Pantastico did not start learning about money management until she was 35 and nearly broke. When she finally did learn, she was compelled to spread her knowledge.

Inspired by a 2008 Harvard study that found women often are in charge of the household’s finances Jocelyn developed LiveOlive, an online money management advisor. Last week in Jakarta, the Filipino woman launched the mobile application of LiveOlive named after the long living olive tree..

“Women are good with budgeting but they love shopping too, to make sure that it’s balanced they need a budgeting tool so they are guided by priority,” she said.

LiveOlive is available for everyone on its website and the newly released mobile application, MyLiveOlive is exclusively available at the Samsung Apps Store and for Samsung Galaxy users.

“We have a one-year contract with LiveOlive and an extension is possible,” said Pambudi Sudirman, apps manager of Samsung Indonesia.

In general, women begin using the service by identifying themselves. LiveOlive has sorted out articles and tools based on ages, from 20 to 40.

Single and married women have their own financial issues. Singles usually find it difficult to save money because they tend to splurge. LiveOlive asks users to insert their income and basic expenses from living cost to mortgages into a template. The tool calculates the percentage of income a user should save considering all the factors provided.

“They have to remember that they should save 20 percent of income first, and spend the rest of the money on shopping,” Jocelyn said.

Married women are usually more concerned about insurance, and they are usually torn between self-insurance or children’s education. LiveOlive hopes to help new and confused mothers.

One basic rule for Jocelyn is to never commit on an investment if one is in debt.

“Make sure you have paid all credit card bills before you start any investment,” Jocelyn advised.

Furthermore, Jocelyn said that it is important for women to feel confident in conducting their own investments. However, they need to feel at ease with money management to begin with. Investment takes a lot of thorough research. The safest thing to invest on is usually property, but the large down payment can be quite a risk. Jocelyn suggests starting with stocks because women can start with a small number of shares and a relatively smaller financial risk.

“They’ll need to familiarize themselves with the top 20 companies in the exchange with good records,” she said.

To give female users extra knowledge on this, LiveOlive also generates business reports from the major media outlets.

 

Reprinted from The Jakarta Globe

About Asmartrock

N. Mark Castro is the chief political communications strategist for PT AsiaLeads, a political and communications policy-making body based in Jakarta, Indonesia. He is also the Executive Director at the Southeast Asia Consulting Group, an investment advisory company assisting clients roll out their presence for the ASEAN Economic Integration in partnership with government. The views posted here are his own and do not in any way reflect the views of the companies he represents.

Posted on December 27, 2012, in General, Previous and tagged , , , , , , , , . Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

ItandEat

Faces and Places

Unspun

Unspinning spin and other distractions

spiceislandsblog

This WordPress.com site is the bee's knees

Salt and Light

Talk minor, act major.

PikselPal

any screen one goals, Yours

Don Charisma

because anything is possible with Charisma

We'll Always have Casablanca

Maybe not today, maybe not tomorrow...but soon! And for the rest of your life.

blueVisions Indonesia

Certainty, Innovation, Excellence.

blueVisions Australia

Certainty, Innovation, Excellence.

Health & Family

A healthy balance of the mind, body and spirit

Teppy and Her Other Sides

Eat well, live well, and be merry!

loveheartseverywhere

my collection of love & hearts for you and from you, around the world

theconservativehillbilly

Confronting stupid people with the cold hard conservative fist of truth

The Sentient Mouse

From my soul to yours...

wanhandredwan

...of wander & wonders

Parenting And Stuff

Not a "how to be a great parent" blog

%d bloggers like this: