ABOUT THE BLOG
Personal Finance Ph is a blog dedicated in helping Filipinos learn to properly manage their finances.SunLife Financial Philippines conducted a study last 2013 called SOLAR Financial Literacy Advocacy Report with the aim of getting a better understanding of Filipinos’ attitudes and behavior when it comes to financial matters.
These are some of the results.
1. 20% of the respondents claim that they are experts – but, only 8% scored above 80% in the financial literacy quiz.
2. Filipino respondents define financial security as “having enough bank savings”.
3. Bank savings only account for 6% of the respondents’ monthly budget
4. 79% will use their bank savings while 34% will put up a business to prepare for anticipated life events.
5. Out of 100 retirees, only 2 are financially independent. 45 depend on their relatives
The results are really upsetting because it only proves to show our level of knowledge when it comes Financial matters.
In Cash-flow, we believe that financial education is one of the solution to poverty. We are a developing country and we know that there are so much more ahead of us. We are a promising nation and we are just getting better and better but why is it many Filipinos couldn’t feel it? It is because we don’t know how to participate in the economics activities of our country. So even if the economy goes up, only 1% less than if not can capitalize on it and the rest are left behind.
Our goal here is awaken the senses of our fellowmen on how they can properly manage their finances. We want to encourage Filipinos to take control of their finances instead of their money taking in-charge of them. And we do that by sharing stories of real people whom are we going to interview, to learn from their experiences and to avoid making the same mistakes, by giving personal tips and advises and by posting some guest articles from the experts.
ABOUT THE AUTHOR
Dave is an RN, SEC Certified Investment Solicitor, Financial Adviser of Sun Life Financial , the no.1 Life Insurance Company in the Philippines, Group exercise Instructor in Fitness First, Online ESL tutor and a parent of 2 lovely Labrador retrievers.
Dave took his BSN degree in our lady of Fatima University. Life in College wasn’t that easy for him since he had to transfer from school to school because of financial constraint and worked part time for his allowance. Dave is no longer practicing his profession although he believes that nursing is in different forms. “As long as you care for others and you have that compassion for the betterment of others then that in essence already a form of Nursing”.
Dave believes that things could have been different in his family if only his parents were able to prepare early and managed their finances well. His family has a typical OFW story, wherein the breadwinner is working abroad with a decent pay but still struggling financially. He thinks that he has a story to tell and he wants to share his realization in his early life with regards to proper money management. He always read and attend various seminars about finance. He always make it to point to continuously feed himself with knowledge and grow as an individual.
