00:00A lot of Filipinos would be more financially independent or able if they knew how to manage their finances
00:05that leads to wiser spending and better management of financial resources.
00:11Financial literacy is key towards this end. This is our Denise Osorio reports.
00:17With the cost of living continuing to rise and daily expenses mounting,
00:21more Filipinos are seeking ways to improve their standard of living.
00:25But according to the Banko Sentral ng Pilipinas, the first step isn't always about earning more.
00:30It's about managing funds more sensibly, spending smartly.
00:34So every year, meron tayong financial ed congress, kasama natin ng mga iba't ibang government agencies,
00:40yung ating mga kapartner, at yung sa private sector,
00:43na katulong natin na magbigay ng financial literacy, financial education sa masa.
00:49A particular focus is on families who depend on remittances from overseas Filipino workers.
00:55BSP Deputy Governor Bernadette Romulo Puyat notes that sending money home is a major sacrifice,
01:01so it must be used for the most essential expenses, such as food, tuition fees, and emergency funds.
01:08Importante talaga yung financial education at financial literacy,
01:12hindi lang para sa mayayaman, ito ay dapat talaga sa masa.
01:16Kasi sila naman talaga yung may kailangan kung saan dapat napupunta ang kanilang kinikita.
01:24Alongside government programs, financial content creators like Jax Reyes are helping make budgeting simple and relatable.
01:31Jax believes you don't need a large salary to save, just discipline and a clear plan will suffice.
01:37Kahit konti, kung pwede, kahit 5%, 10%, may konti pa rin tayo itabi.
01:44Kasi diba, ang hirap ng, alam kong mahirap yung buhay, diba?
01:47Pero, if we have that mindset na pwede natin ipagkasha yung kinikita natin, diba?
01:53One of Jax's practical tips, before buying anything, ask if it's actually in the budget.
01:58These days, even small savings over a day or week can make a big difference to long-term funds.
02:04Ang one thing na gusto ko rin i-drill down lang dito is, yung favorite tanong ko, budgeted ba yan?
02:12Diba?
02:12Pag alam mo magkano yung meron ka, binudget mo yung bawat piso mo, alam mong dito na pupunta yung pera mo.
02:19Tapos, kung hindi naman siya budgeted based on pinaglaanan mo dapat ng kada piso mo,
02:25then baka huwag mo munang bilhin.
02:26Jax added that many Filipinos fall into debt because of improper use of their credit cards.
02:32He reminds the public that it is still borrowed money.
02:35And if you think you can't repay it, don't use it.
02:37Kaya huwag mo siyang titignan na extension siya ng sweldo mo, extension siya ng bank account mo.
02:43Hindi. Diba?
02:44Think of your credit card as your money pa rin.
02:48Kung wala kang pera na yun, huwag mo siyang ikaskas.
02:51For young people, the challenge is different. Small allowances and countless temptations.
02:57But students say it's still possible to stay on track with a bit of discipline.
03:01Kailangan ko ba itong bagay na to? Or should I just save my money for, for example, for my food for the next week?
03:10Ganon. So, I think you really have to discipline yourself.
03:12And kailangan mo pigilan yung sarili mo kung may impulse ka talaga na gusto ko talagang bilhin yan.
03:17Kasi ikaw lang naman din kasi yung mahihirapan with your finances if you just let yourself buy impulsively.
03:25April urges other young Filipinos to start practicing good financial habits now while they're still learning to manage their own money.
03:33Denise Osorio for the National Television Network for a New and Better Philippines.
