On Economy and Politics: Let's make things right to win the future

By:  Rafael Alunan III
Reposted from his FB notes dated Dec. 28, 2014

Our macroeconomy ended on a high note.  Business growth was sustained despite the effects of man-made and natural disasters in 2013.  According to the Oxford Business Group in its December 26, 2014 on-line report:

Economic growth surpassed government targets well before the end of 2014.  It was driven by strong foreign direct investment (FDI), overseas remittances and expansion in real estate, business process outsourcing (BPO) and mining sectors. The World Bank estimates GDP growth of 6.4% in 2014 and 6.7% in 2015, vis-a-vis 7.25% in 2013, due to weak government consumption and a decline in infrastructure spending. The IMF and investment analysts see growth around or below the 6% mark in 2015.”

But here’s the rub. In its 2011 report entitled “Family Income Distribution in the Philippines from 1985 to 2009″ the Social Weather Stations (SWS) cited that high income AB classes account for only 1% of total population, which, according to the CIA Fact Book estimates to be 1.077-million as of July 2014.  That 1% translates to around 1.08-million privileged Filipinos.  9% of total population, or the middle class, belong to Class C, or approximately 9.7-million people.

 Six (6) out of every 10 Filipinos, or 60% of total population, or approximately 64.6-million Filipinos belong to Class D, or the“masa”. The poorest segment, Class E, also comprises a big chunk - around 30% of Filipinos – undoubtedly confirming that poverty remains prevalent in the Philippines.  The numbers indicate that a wide gap continues to divide the rich and the poor, and that trickle down economics is exactly that, which never reduced poverty.

90% of the population live just above, along and below the poverty line. They’re perennially short of cash to make both ends meet, or for savings and investments. Quality of life falls short of the mark – in housing, health and education; job security, food, water and electricity services; or combinations thereof.  Limited opportunities handicap them for employment or entrepreneurship, hence the diaspora. Inclusivity is the simplest answer but this has not gained traction.

There’s more data that the Philippines has remained an oligarchy. Carmen Pedrosa’s column in a national daily cites the following sources:

• De La Salle University Dean Julio Teehankee reports that 178 family dynasties rule 73 of the 80 provinces.

• Bobby Tuazon, Policy Studies Director of the Center for People Empowerment in Governance, reports that 21 of 24 seats in the Senate fall under the control of political families; while in the House of Representatives, 80% of 229 seats are dominated by dynasties.

• A 2014 study by Ronald Mendoza, AIM Policy Center Director, shows 75% of members of Congress and 80% of governors and mayors belong to political dynasties.

• Forbes magazine lists the 40 richest billionaires in the Philippines as having combined assets of $34 billion.

• A 2012 study by the World Bank shows 25.2% of Filipinos living below the poverty line of $1.25 a day, while the CIA’s was higher at 26.5%.

Earlier this year, Pope Francis condemned the “economy of exclusion” as he called for “worldwide ethical mobilization” citing the indispensable cooperation between the private sector and civil society” as ways to combat poverty. He urged the U.N. to promote development goals that attack the root causes of poverty and hunger; protect the environment; and ensure dignified labor for all. He articulates the issues that people around the world think and talk about such as economic justice, income disparities and poverty.

Robert Christian wrote in Time magazine that Pope Francis’ tweet about inequality is the wake up call we all need. “It challenges us to fully recognize the equality of all and create conditions that reflect a total commitment to human dignity.  There is a common root to most (or perhaps all) grave forms of social injustice: the rejection of human equality and the influence of this rejection on human relationships and institutions.”

“Human persons are fundamentally equal in their worth and dignity. A person’s worth is not dependent on their lineage, how they fit in some utopian scheme, how much they produce or consume, their autonomy or independence, or their race, intelligence, age, religion, ethnicity, gender, sexual orientation, or socioeconomic status. Human worth is innate and cannot be forfeited. And it is equal in each person.”

That means to me that people who wield political, economic and information power should seek innovative ways and means for ensuring that every person has access to those needs that are necessary for human flourishing. The elite need to open their eyes to the gravity of the threat economic inequality and injustice poses to human dignity and the common good.

A Princeton study on “who really rules” says that American democracy no longer exists.  Researchers Martin Gilens and Benjamin I. Page argue that America's political system has slowly transformed from a democracy into an oligarchy in the past few decades, “rich, well-connected individuals on the political scene now steer the direction of the country, regardless of, or even against the will of the majority of voters.”

Like in the Philippines, access to opportunities and resources are cornered by the best, at the expense of the rest, resulting in income inequality, a widening gap between the haves and have-nots, and social conflict.  John F. Kennedy warned about this in his inaugural speech half a century ago. Pope Francis is shaking the tree today. Business groups like the Management Association of the Philippines are championing inclusivity as the antidote to the widening inequality gap and the key to reducing poverty.

We're chained to slavish conditions where most of the benefits of political power and economic growth are cornered by the 1% while most of the costs of bad governance and bad performance are borne by the rest of society. In a country where 90+% are supposedly Christian, nowhere are actual conditions reflective of our faith and Jesus Christ's teachings for mankind to love one another. We have behaved badly, failing to care, share and dare for each other, because we've placed self-interest above the common good.

2015 promises to be another banner year with superb opportunities for inclusivity.  The country’s one percent must function as real elite by acting beyond their vested interests to lift the nation higher and higher, with the long-term goal of leaving no one behind – all for one, one for all! 

Creating new wealth, enlarging the economic pie, and equitable distribution of the benefits is the way to go. It’s time we take our country back from bad behavior, make things right and fight with all our might for the future of succeeding generations.

God bless us all in 2015!

Respectable Public Servants Deserve Public Support

By:  Gilbert M. Forbes
DepEd Quezon, CALABARZON\

I want to borrow and share the sentiments of Jude Ocampo via Jess Lorenzo who mentioned in his fb post that he feels sorry for our honest public servants. The public demands that they be visible - which is perfectly understandable since seeing competent men and women directing govt efforts does provide some comfort. But when people like Sec. MAR risk life and limb to lead crisis management efforts on the ground, they are rewarded by cynicism and ridicule. Kung hindi ka magnanakaw sa gobiyerno, dapat yata santo or masochist ka. Can't we just see this for what it is - an honest public servant doing his job?

In government service, seldom that honest public servants got noticed, recognized, and even rewarded by the public and most importantly by peers. If you profess and practice righteousness in the work place either some would despise you, reject you and like Sec. Mar, ridicule you behind your backs. Your contemporaries may even consider you as a threat. May be that is because, the crab mentality is so grossly embedded in our psychic- bad for a nation dreaming to be progressive and great.

Most of the time, if you think out of the box, radical in your approach meaning highly analytical weighing things and putting it in a balance, and most of all disciplinarian or strict, you could be unpopular, or less liked.  Rest assured that nobody will recognize your efforts, they may do so once you have left, worst, none at all. You could be excused  unless you possess an above average, not ordinary, or even extraordinary appeal and aura, but still do expect negativity for there is a saying, you couldn't please everybody.

This is the very reason that most of our best people as much as possible avoid government service. They rather work and serve in an NGO than in government or worst, in the corporate world and just help in other ways. The bad side about it is that the unknowing public, 'the masses' are left with no other alternative. Then we will be annoyed by mediocre government services!

If we, the public, want a good and ultimately the best public service that we want from the government, we should ask ourselves first, what kind of citizen am I?  In my own little ways, aside from being both direct and indirect tax payers, what, contributions do I make towards the society?  If I would be given the opportunity to serve in the government, can I do the kind of public service I want from them?

People in government, particularly the righteous and respected ones, deserve our support and not the other way around so as encourage them to continue and not be eaten up by the bad system.  Our failure, is our great loss for there are already too few of them in government now.  Their tribe should increase, and its we who are in the best position to make it a reality.  After, all, in a larger picture, WE THE PEOPLE, IS THE GOVERNMENT.

(Mr. Gilbert M. Forbes had his Bachelors Degree and MA in Educational Management (CAR) from the Philippine Normal University.  A campus paper adviser and trainer for 13 years.  Currently, he is a school principal in one of the central schools in the Division of Quezon.)

Typhoon Ruby's Two to Three-day Forecast, Tracks and Position

UPDATED 12pm today 12-8-2014:  STY Hagupit (Ruby) has been downgraded into a tropical storm and is now rampaging the sea near the island of Marinduque Province in Region IV-B,  

As of 11 am Monday, the eye of the storm was located 20 kilometers east of Torrijos, Marinduque, with maximum sustained winds of 105 km/h near the center and gusts of up to 135 km/h. The storm's diameter has become smaller, now just 450 kilometers across, and moderate to heavy rainfall is expected by places under this area. Rappler reported. 

Ruby is still moving 10kmh west north west but slightly changed its course upwards.  It instead of having landfall at northern Mindoro, it will be hitting Batangas Province, 6-8pm. With the distance of Batangas to Metro Manila, it is expected that the place will be experiencing heavy rains and strong winds

Currently, except Metro Manila, signal # 3 is up over Regions IV-A and B including Lubang Islands.

New path of Ruby as of 11am.  Image Courtesy of PAG-ASA-DOST

As of 11am, Ruby is located at  20 km east of Torrijos, Marinduque, 13.3°N, 122.3°E, Maximum sustained winds of 105 kph near the center and gustiness of up to 135 kph.

Tomorrow, Tuesday, it is expected to be 85 km Southwest of Quezon City and 295km Southwest of Quezon City by Thursday.  It's movement slightly increased from 10-13km/hr, West, North-West.

Estimated rainfall amount is from 5 – 15 mm per hour (moderate – heavy) within the 450 km diameter of the typhoon.

 "RUBY" and the Northeast Monsoon will cause rough to very rough sea conditions over the seaboards of Luzon and Visayas. Fisherfolks and those using small sea craft are advised not to venture out over the said seaboards.

Expected to Exit PAR: Wednesday evening.

Sources:  DOST-PAGASA and RAPPLER

Isolated and Far-flung Public Schools Should Now Go to Solar Energy

By:  Gilbert M. Forbes
DepEd Quezon , IV-A CALABARZON 

Electrical power for isolated and far-flung schools (off-grid or far from power lines) now a days is already within reach through the use of solar energy.  Not only that DepEd has established partnerships with different NGO providers, but also, solar power energy hard wares' prices through the years have decreased tremendously.  

Cabul-an National High School.  A beneificiary of One Meralco Foundation.

If the school leadership wants it fast, aside from contacting or soliciting the help of possible NGO donors, what is just needed is the drive to motivate the stakeholders or the community to hold a fund drive and combine financial resources.  With this, no more queuing, no more waiting. For as low as Php25,000.00, any off-grid schools with the Parent Teacher Association on the lead could install solar power in their respective schools.  

This set-up is enough to power an LCD or LED TV, a laptop pc and an electric fan. In other words, enough to operate multi-media equipment and basic office equipment, and so the multi-media for classroom use of course.  Since, electrical power is one of the requirements of DepEd's Computerization Program; this type of electrical connection package is a good start so as to fast track the receiving of the said package.  It is also best to start small so that along the way, somebody will learn basic issues regarding its operation, performance, and maintenance.

 

Basic components of this set-up usually include a 1000-watts sine-wave inverter.  12- Volt deep cycle battery, at least 100Ah, 100-200watts monocrystaline solar panels, solar charge controller, wirings and other connecting paraphernalia.

The only major challenge in operating renewable energy system such as this is maintenance.  But all these are easy to learn as long as willingness is strong.  Electronics technicians’ even electricians could also be asked to assist and should be made to witness the installation process so that somebody in the community knows what to do, much less, the teachers.  In this manner, orientation from the installer must be part of the package.

Aside from the maintenance, the following should also be the main considerations:  First, estimated daily power usage by computing the power requirements of the gadgets and hard wares your school intend to use initially; second, budget or source of funds; third, target supplier and installer’s record; fourth, maintenance requirement; and fifth, learning the basics.   Read more at this link 5 Things to Consider When Planning to Install Solar Energy Systems

Benefits of Solar Power

Benefits of Solar power particularly in off-grid areas are simply amazing.  It would not only enable the school to use multi-media in instruction as they could already power their devices, but as long as there is a cellphone network signal, using their laptops and mobile modems could also connect itself to the internet making learning more interesting. 

They could also provide ICT instruction not only to the pupils and students but even to the community. The clean, free and renewable electricity available in the school cab become an added incentive for pupils to go to, and stay, in school since it is a place where they can also charge their cellphones while pursuing their education.

Another value added by the electrification is that it could become a revenue generator for the school’s parent-teacher-association (PTA) which they could use to maintain it and the excess in other equally important things.  More importantly, the impact that it will create to the community is imaginable, economically and socially.

Just immediately after typhoon Glenda passed his residence in Tayabas City, Quezon.  The writer immediately ventured on buying a mini solar power generator to light their sar-sari store which they are using until now.  The writer also motivated to research and read a lot on solar energy home and school installation of both off-grid and grid-tie systems. Solar energy use has now become part of his environment's personal advocacy.

Our National Hero or Heroes

According to the National Commission on Culture and the Arts, no law, executive order, proclamation has been enacted or issued officially proclaiming any Filipino Historical Figure as a national hero.  However, because of their significant roles in the process of nation building and contributions to history, there were laws enacted and proclamations issued honoring these heroes.

Even, Jose Rizal, considered as the greatest among the Filipino heroes was not explicitly proclaimed as a national hero.  The position he now holds in Philippine history is a tribute to the continued veneration or acclamation of the people in recognition of his contribution to the significant social transformations that took place in our country.

Aside, from Rizal, the only other hero, given an implied recognition as a national hero is Andres Bonifacio whose day of birth on November 30 has been made national holiday.

Despite the lack of any official declaration explicitly declaring them as national heroes, they remain admired and revered for their roles in Philippine history.  Heroes, according to historians, should not be legislated.  Their appreciation should be better left to academics.  Acclamation for heroes, they felt. would be recognition enough.

Source:  National Commission for Culture and the Arts

What Teachers Do to Continue to Teach Into the 21st Century?

Source: Philippine Daily Inquirer

To continue to teach well into the 21st century, our teachers who began teaching in a kinder, gentler time have to rewire their brains to respond to the structures, functions and connections presented by technology. How else can they teach their students the literacies that education experts say are needed to be successful in the modern world?

On top of that, our teachers have to blend the new skills into the core curriculum. They cannot simply leave their students to aimlessly wander the information highway. The order is to lead the kids down that path in the context of a lesson in math, science, economics, language, arts, and so on down the hierarchy of subjects. The Department of Education’s list of K-to-12 learning goals, which necessarily translate into teaching goals, include basic, scientific, financial, technological, visual, information, media and multicultural literacies. Environmental literacy must be somewhere in there, too, because if it is not, we are in deep trouble.

The critics and cynics are shaking their heads. To begin with, our teachers do not even know which buttons to push. They have a lot of catching up to do because they are not hardwired for 21st-century hardware. How can teachers stay credible and legitimate when, in terms of digital developments, they are so far behind the students they are supposed to be guiding? continue reading

Financial Ignorance Is Expensive

By:  Bo Sanchez
Philippines renowned best selling author, lay minister and entrep

(Excerpts or one of the articles from the book 8 Secrets of the Truly Rich)

"The number one problem in today’s generation and 

economy is the lack of financial literacy."

 — Alan Greenspan

Some people think buying a book like the 8 Secrets of the Truly Rich is expensive.  I also give financial seminars and people think the price we charge is too high.  If you think financial wisdom is expensive, then try ignorance. You’ll realize it’s a million times more expensive.

FACT: We could all be educated but financially ignorant.

For example, in the past 10 years, I’ve lost a lot of money. Simply because I was stupid about money.  After getting married, I was able to scrape a decent amount of savings into our bank account every month. And with some very generous gifts from our ninangs.

During our wedding, after a few years, my savings reached P200,000 plus. (Sssshh. Don’t laugh too hard.)  That was when a friend asked me if I would like to put my money in the investment company she was working for. “You’ll earn two percent a month,” she said, “and you’ll help me earn a commission from your investment!”

And instantly, I invested our P200,000. After all, two percent a month came down to 24 percent a year—so much higher than the banks’ interest. That was also the time when my wife finally got pregnant.  The thought of becoming a father was an incredible feeling.  But together with my excitement was the stark realization that the baby would now be totally dependent on my finances for the next 20 years of his life.

That thought sent chills down my spine.  We borrowed a wooden crib from a cousin and prepared P20,000 for the birth of our baby. We were ready, or so I thought.  During the delivery, my wife suffered heart palpitations reaching 200 beats per minute and the doctor ordered an emergency Caesarian operation.  Yes, I almost lost my wife and baby. That emergency operation saved their lives.  After three days of confinement, I received the bill from the hospital:  P56,000.

Gulp.  Have you ever received a solid punch straight to your solar plexus?  That was how I felt at that moment. So I called my friend and asked if I could get my investment back. Perhaps just P40,000 of my P200,000 to pay the hospital bill.  She said, “I’ll try...”  “Try? Why try? Isn’t that my money?” I asked, “I need to pay the hospital.”  “It isn’t that simple,” she explained. “Your money is being used.” “What do they use it for? Who owns this company anyway? How long have they been in business?” (Do you see how wise I was? I was asking these questions after I invested my money.)

“We’re a small firm that lends money to tricycle drivers.” “What...” Have you ever seen a cat staring at the headlights of an oncoming truck? That’s how I looked. “And collection hasn’t been very good,” my friend’s mutter was barely audible. “So that means...”  “uh, that means we’ll have to wait for new investors to come in before we can return a part of your money.”  In other words, I waited for three years for nothing. After that the company closed, folded up, crashed, disintegrated, imploded, sunk to

the depths of the earth, vanished into thin air.  With my P200,000 with them.

Don’t you see?  I was financially dumb.  Let me give you my credentials: My I.Q. is 132, I have above-average  social skills, I finished Philosophy in college, I took post-graduate courses in Theology, I founded four organizations, and I’m a more-or-less over-all wholesome guy... But all these don’t take away the fact that I was a financial nincompoop.  I was 100 percent financially illiterate!

Here’s what I found out...

You could be a doctor with three PhDs behind your name.

You could be an engineer building huge bridges in your spare time.

You could be a very holy person, praying three hours a day.

You could be a scientist inventing the first car that runs on spit.

You could be 97 years old.

You could be an extremely loving saint.

You could be a diva with the voice of Celine Dion.

But you could also be financially illiterate.

A world-renowned surgeon doesn’t open up a busted TV set and say, “I operate on people, I guess operating on machines would be a breeze.” No, it won’t be. It’s a totally different world.  So it is with money.  Knowing how money works is a totally different field of expertise. Financial ignorance is expensive.

You may also like reading the complete book in this link in PDF Format:  8 Secrets of the Truly Reach
7 Tested Ways to Consider When Buying a House and Lot You Want to Call Your Home  
7 Key Financial Advise to All Young Professionals and Wokers Who Are Starting to Earn a Living  
Things the Rich Do Every Day that the Poor Don’t  
 

Things the Rich Do Every Day that the Poor Don’t

(Based on Tom Corley’s 20 Things the Rich Do Every Day, on his website RichHabitsInstitute.com and Bo Sanchez Don’t Try to Appear Wealthy.)  

Wondering why the rich get richer and the poor poorer.  Aside from gigantic resources, what do the rich do every day that the poor don’t do?  What are possibly their values and attitudes? 

1.      86% of wealthy love to read vs. 26% of poor.

Instead of more hardwork, the poor gambles. 
 (google search photo)

2.      88% of wealthy read 30 minutes or more each day for education or career reasons vs. 2% of poor.

3.      63% of wealthy parents make their children read two or more non-fiction books a month vs. 3% of  poor. 

4.      86% of wealthy believe in lifelong educational self-improvement vs. 5% of poor.

5.      81% of wealthy maintain a to-do list vs. 19% of poor.

6.      67% of wealthy write down their goals vs. 17% of poor.

7.      80% of wealthy are focused on accomplishing some single goal. Only 12% of the poor do this.

8.      6% of wealthy watch reality TV vs. 78% of poor. 

9.      44% of wealthy wake up three hours before work starts vs. 3% of poor. 

10.  74% of wealthy teach good daily success habits to their children vs. 1% of poor.

11.  84% of wealthy believe good habits create opportunity luck vs. 4% of poor.

12.  76% of wealthy believe bad habits create detrimental luck vs. 9% of poor.

13.  23% of wealthy gamble. 52% of poor people gamble.

14.  70% of wealthy parents make their children volunteer 10 hours or more a month vs. 3% of poor.

15.  36% of wealthy bought only second hand cars and most kept their ordinary cars for years versus the 66% of the not so wealthy who bought luxury cars.

16.  100% of wealthy saves 20% or more vs. 2% of poor.

In addition to these lists, most of the really wealthy rarely wore designer clothes, rarely lives in expensive homes, rarely have expensive vacations, rarely bought luxury cars.  They lived way below their earning capacity, so that they could save more and multiply their money through investments and business.  Most of the really wealthy didn’t reside in upscale villages because it would only pressure them to mantain an upscale lifestyle—something they didn’t want to do.  And most didn’t change homes for 30 years or more!  They trained their kids in the values of simplicity, frugality and hard work.

Now, what about us, the middle class and the ‘masses’ or the common people?

7 Key Financial Advise to All Young Professionals and Workers Who Are Starting to Earn a Living

By:  Gilbert M. Forbes
DepEd Quezon, CALABARZON

Do you still remember when you were still studying until the time when you were already looking for a job?  You were able to survive and live within your means given the meager allowance from your parents, siblings or benefactors.  In fact, there are lots of time that you were still able to save from these highly budgeted and exact allowance given to you.

Compare it to your current financial status now that you are already earning for a living as a newly employed worker or young professional.  Are you still able to save?  Is money still a big problem?  Does it still play a big picture in your life? If the answer to all these questions is a resounding yes, then, you could have been going straight to the trap of financial difficulties in unimaginable magnitude as compared before when you were still studying.  You need a total life style check.

(moneytools.org photo)  They should manage money wisely.

First Key.  Reflect and analyze.  What went wrong?  Is your spending habit the same as before or it skyrocketed after finding a regular job. Commonly, once we reached a new level in our lives such as having a regular source of income comes an upsurge in our spending habits.  We begin to need things we don't need before.  These are wants which are not necessary and thus could be set aside like weekly or even monthly dine out with the family to a popular food chain, branded clothing, high-end cellphones, computers even un-planned house repair or renovation and expensive education of siblings.  The right thing to do as advised by various financial coaches is that, an increase or an additional income for the family should not mean an increase in their spending habits.  They advised that, if we are still living with our families, only our share for the food expense and groceries should be added to our regular expenses.  Meaning, if we are spending four thousand a month when we were still in college until the time we graduate and start looking for work, only the share for food, groceries and lets say utility payments should be added and the rest should go directly as savings.

Second Key.  Revisit your goal and life's dream.  Everybody's goal is to achieve certain level of financial security.  Others call it, an improvement in ones living condition.  But given the scenario above, without considering financial coaches advise, it is unlikely that things will get better.  Consider this.  What if there is sudden emergency such as sickness that requires hospitalization among one of the members of the family?  What about when you opt to decide to settle down and start a family of your own?  How will your financial status go along?  Imagine the quality of your life ten to fourty years from now.

Third Key.  Live on less and simplify.  G.K. Chesterton once said that there are two ways to get enough:  One is to continue to accumulate more and more. The other is to desire less.  Bo Sanchez in his bestselling book Simplify and Live the Good Life explains that we should focus on what we have not on what we don't.  It's because, satisfaction doesn't come from getting what we want but from wanting what we already have. "Some take their pleasure from dining in classy restaurants, going on trips . . . and owning the latest home theater equipment.  I've chosen the simpler path: If i can simply be with my wife, or take a quiet stroll under a canopy of stars, or play with a child, or read a good book in my home, or laugh with friends over an instant pancit canton, I consider myself richly blessed," said Bo Sanchez in his book.  Certainly, we could have a lot at the comfort of our homes with our family, friends and the community.  All these for free!

Fourth Key.  Budget and start savings at once.  Start budgeting and along this start also writing down your daily expenses.  Analyze it after a month to know the pattern of your spending and you will be surprised by the result.  You will know that you are spending quite a portion of your monthly pay on things you don't really need or you could be over spending on some that you could cut back later let say cellphone load, bottled water or even softdrinks.  Continue budgeting and listing your daily expenses until it becomes a habit so that it would be easy to track and monitor your expenses.  Once you made it a habit, start saving as much as you can.  Take note, savings is an expense for the future, so a decided or target portion of your income should automatically be deducted to your monthly pay then budget what has been left.  Start saving for the following:

• buffer fund.  Set aside money until you are able to save at least 5-months of your gross salary.  This will give you and your family a fall back in case you got laid off from your work.  You will have enough money that can supply your needs while you are looking for a new job.  If you want six months or a year equivalent of your gross salary, much better.
• irregular expense account.  this is a savings account intended for seasonal expenses such as tuition fees, family celebrations such as birth days, wedding anniversary, Christmas, new year etc.
• protection fund.  if your the sole bread winner, you need to be protected in a form of life or the new one, a variable insurance so that whatever happens to you, your family will be in good hands for a certain period of time.  You may have personal with regards to this matter.
• marrying or settling fund.  For those who are actually of marrying types or whose ultimate aim is creating a family of their own, there is certainly no time and money to waist.  One need to have a longer foresight of the future otherwise, life will be more difficult in the future.  Since, as singles, most are still living with the parents. save as much as you can.  The bigger chunk of your income, let say 50% or even more of it, the better.
• retirement fund.  aside from SSS or GSIS, financial coaches and analyst highly recommend to have an additional retirement fund because your retirement and pension will probably be not enough to live decently . As we age, we would need medications. Right now, there are 3-in-1 retirement fund (health care, life insurance and investment in one) like Kaiser which is a long term plan which covers beyond 60yrs old & above based on the health funds accumulated. Get a quote here https://402183ph.imgcorp.com/quote/kaiser or m.me/financialwellnessclubph
• health care card.  If you are still young, you could also consider getting a health care cards in addition to your Phil Health. If you are the bread winner, you may get one for your dependents too.  It will help and save you from financial problems in the future as such, unwanted or unplanned debt which is a common occurrence. The downside however of healh care card is that there is no investment return like the one mentioned above.  Its up for you to decide however.

 Save, save, and save to earn interest from it instead of the creditor earning so much interest from you through loans.

Fifth Key.  Avoid going with the tide.  Don't let things such as the clothing you wear, jewelries, cellphones you use define yourself.  Aware and financially educated people don't use material possessions as barometer of wealth or financial stability but on your networth instead.  Get along with people who have embraced simple lifestyle and have clear financial goals for their future.

Sixth Key.  Create your financial plan based on your life dreams.  Bo Sanchez explains that writing down a financial goal is an exercise in faith and an exercise in personal commitment.  He said that it helps our mind to open up and think of ways how those goals would be met.  As such, it would led us going back to our divine appointed mission in life- because that was how God was going to provide for our needs and desires.

Seventh Key.  Purify your thinking and motives about money. Money isn't evil.  the LOVE of money is.  Money is something that can be used to love or hate, to build or destroy, depending on how you use it.  In other words, it can make you holy or it can make you evil- much like anything else in life.  Purify your thinking towards money by embracing the truth that God wants you to have some material things to live a human life, enough for your needs and more than what you need, so that you can be generous.  Money should come from our highest values.  Money should be taken as an instrument to do more good.  That is to provide for the basic needs of our families.  To be more generous to those in need.  To support and help our churches and the ministry of your choice.

We should not forget that we could not simply give what we do not have.  But in all of these, put God first!

Reference:  Sanchez, Eugenio R., Jr., Simplify and Live the Good Life, Shepherd's Voice Publication 2008

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