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  • Writer's pictureAllen PakChing Lau

Tips for optimising your financial status

Updated: Aug 6, 2020

Hi, I'm Allen, the Founder of iPYGG, also one of the Millennials. when i was 18, I got a part time job and my first wage, then I started my life living from pay-check to pay-check. I didn't know why I should manage my wealth, because I do not have any money, moreover, I started spending with my credit card. Fortunately, I did not get addicted into spending with it. However, I found how crazy and expensive it is when you just pay the minimum pay. It eliminated 1/4 wage and the repayment amount kept growing monthly just like the price of property in Hong Kong. At the end, i got a bonus from my boss so that i could sort it out. After that, I know money management is not just about investment, it's also about the Debts.

Millennials' Money Management getting worse

After years, i graduated in Uni and started my career. I came back to Hong Kong and i found that the price of property was still rising and the Gini Coefficient had risen to 45-year high. In 2019, 30% of the bankruptcy cases come from 18-39 due to overspending and personal loan.

Successful Money Management

1. Understand your financial status

(Assets; Debts; Income & Expenditure)

2. Set up financial target

3. Save Money

4. Invest and grow the money

iPYGG Solutions of Money Management

1. Understand financial status

iPYGG AI wealth manager helps users to Integrate bank accounts, e.g. Savings accounts, Investment accounts, credit card accounts, then the assets, debts, income & expenditure will be automatically tracked and analysed.


Users will be available to track the real-time evaluation of the assets, e.g. properties.


The Debts from different financial institutions will be tracked in one app. Users can easily check the due date of it and how much they owe. If users are in the trouble of debts and facing bankruptcy, iPYGG will be able to provide Debts Relief Planning to lower the interest rate and make a repayment plan for it.

Income & Expenditure

Even though there is a saving plan, users still need to spend for living. iPYGG track all your income and expenses, advise users spending habit and alerting them when they overspend.

2. Set up Financial Target

In a relationship or a family, it's always important to save money and manage the wealth together in order to deal with getting married, buying a property or paying the expenditures of having a child.

Love account

Love account will combine the users' financial goals together and record how much each party is saving everyday, whereas other financial information can not be shared to each other in order to protect the privacy.

Individual account

Users can also not to choose family account, but they can also use Individual account for their own financial target. All the financial information is protected by 256 bit encryption and biometric recognition.

3. Save Money

There are many ways to save money, Different people save for different reasons, but in general, having savings will benefit you in the future, whether you're avoiding hardship or going after the things you want.

Automatically transfer by time

One of the best ways is always sending the money to another account when your income comes in. It can effectively decrease the chance of spending money. Users can set it as weekly/bi-weekly or monthly in app.

Round-up savings

In fact, there was a great way we saved money. These days, most of us don’t use paper currency, so we rarely have “spare change”. Instead, our money is electronic digits on a screen. As a result, we simply spend our money without wondering what we should do with the “spare change.”

In the future, when you link your e-payment to iPYGG and make a purchase, the amount will be automatically increased to an integer and the difference will be added to the iPYGG account.

Split the spending acc and savings acc

Many of us would just use a single saving account for saving and spending purpose. However, separating the this account into two can avoid users to over-spend.

4. Invest and grow the money

A magic that can hugely grow your money by time - Compound Interest.

The more frequently your money earns interest, the faster and bigger your balance will grow. As interest is added to your account, you earn interest on the original balance, plus the previously earned interest. 

The Strongest AI Engine

iPYGG's AI Engine is powered by Microsoft Azure, which is one of the most powerful AI Engine around the World.

Risk Preference Based Portfolios

Portfolios are divided from Conservative to Aggressive 5 Portfolios, which were deployed Modern Portfolio Theory made by Harry Markowitz (1990 Nobel Memorial Prize in Economic Sciences) and Capital Asset Pricing Model made by William Sharpe. It maximises the expected return based on a given level of market risk.

Diversifying the risk

iPYGG invests in more than 2000 ETFs in Hong Kong and United States, holds more than 10,000 assets. Portfolios contains Government Bonds, Corporate Bonds, Large Companies Stocks, Emerging Market Stocks, Real estate Stocks and Technical Companies Stocks.

Customising the Portfolios as you go

Users can also adjust the portion of the investment sector and make their own portfolios by themselves.

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