Allowance Card

Everything around us requires an outflow of money. We all spend to buy something that
we need or want. However, according to Jose Galang of abs-cbn, the added burden of excise
taxes that individuals and businesses now shoulder has led to the recent wave of price increases
and mark-ups in most products sold on the market. Most families need to save to properly
allocate their planned budget of all their expenses, but they wouldn’t be able to do that if some
members of the family enjoys spending more than they’re supposed to spend. In circumstances
wherein students have to be away from their families to study at other provinces, it is very hard
to control their way of spending money with the huge allowances that are given to them. Another
case is also when people travel and go to vacations, or when some workers still receives
allowances. Abs-cbn stated that the Philippine Statistics Authority (PSA) report says overall
inflation was 4% in January 2018 and a much faster 5.4% rate of price increases. The cost of
food and household utilities- the two largest expense items on family budgets- could now gobble
up more than P0.65 of every P1.00 that an average family earns. Expenses related to housing,
water, electricity, gas, and other fuels also jumped by 4.2% by January 2018. Eating out and
commuting to work, activities that account for P0.20 of every P1.00 spent by the average
Filipino family, are also among the fast-rising items. These expense items are only expected to
go up some more and so it is very important for parents or any members of the family who has
authority to set measures and rules on how to handle allowance properly. This paved the way for
the customer’s job to be done: to avoid overspending for expenditures and its outcome
expectation of minimizing the likelihood of surpassing the budgeted amount for allowance.
When students are left on their own to live independently, chances are that they spend too much
without realizing it. This is due to always eating out, living expenses, project requirements and
the like. Thus, the target market are parents who sends out huge allowances to their kids for
student expenditures, travellers, or anyone who basically uses allowances. Bank cards such as
debit and credit cards are what people usually use in transferring or giving money. Multinational
financial services corporations such as Visa and MasterCard are prime examples of big
companies that offer electronic fund transfers throughout the whole world.

Purchase Delivery Use Supplements Maintenance Disposal

Customer Productivity

Simplicity

Convenience

Risk

Fun and Image

Environmental Friendliness
 The red spaces in the BUM table above are because most bank cards nowadays have
already excelled in terms of how they are used by the people. It has customer productivity,
simplicity, convenience, and less risk because it allows customers to have an easier, faster, and
safer money transaction from storing money in the bank, loans, credits, personal savings, and to
purchases. Almost everyone has bank cards such as ATM cards, debit cards, or credit cards.
Nevertheless, the supplement stage can be a blue ocean strategy for people who are looking for
supplementary cards that can be used specifically for allowances. An allowance card can be a
supplement card that can be offered to the spouse, parent, or children of the primary debit or
credit card holder. By applying the utility levers in the supplementary allowance cards, we can
help families save allowances.

When a parent sends his child, for example, to a school in another province, it is expected
that the family has to incur expenses for the child’s cost of living, the school’s tuition,
requirements, and the allowances used for house, food, and personal expenses. When a parent
gives out a fixed monthly allowance, they don’t really get informed of how their money is being
spent. Some children prefer not to eat just to save money for shopping purposes, some spend
money on eating out because of lack of food at home, and as more and more expenses come to
pass they usually lead to overspending. This also applies to other people who (to be continued..
kapoy)

Galang, J. (2018). Analysis: Even living simply now costs a lot more. Retrieved from:
https://news.abs-cbn.com/business/02/06/18/analysis-even-living-simply-now-costs-a-lot-more