According to the Philippine Insurance Commission, insurance penetration in the Philippines remains remarkably low at 1.75 However, the increasing digitalization and financial literacy among Filipinos are expected to play pivotal roles in its enhancement. The Commission also urges the industry to help in spreading financial literacy and awareness to increase financial...
The way we spend and save affects our financial stability, not only in the present but also in the future. As retirement is inevitable for most of us, to live comfortably and worry-free in the days to come, we need to plan ahead while we are still in our prime earning years. To help Filipinos plan for their retirement, AXA Philippines, one of the country’s leading...
Many Filipinos have misconceptions about loans, many of which are based on fear or lack of awareness. For example, some people believe that once you take out a loan, you’ll soon drown in debt and be hounded by collectors. This scenario isn’t completely untrue—you’ll definitely get saddled by thousands (or even millions) of pesos worth of loans and receive...
Giving children an allowance is a good opportunity for them to learn about proper money management. A study published in the Journal of Economic Psychology suggested that kids who received an allowance spent less and had better money management skills than those who did not. This shows that the best way to teach kids about finances is to give them an opportunity to...
If you are a mom who hasn’t been able to learn the ins and outs of managing your budget and savings yet, chances are that this pandemic is already pushing you to do so. There hasn’t been a need to be resourceful and be money-wise more than ever than these days especially when managing debts. Photo by Kindel Media from Pexels Many of us have experienced...
Buying a home is every parent’s ultimate goal. It’s a dream property that we can either work into achieving sooner or later, depending on a hundred kinds of situations wherein financial capacity is just one of them. In this time of the pandemic, many are considering their options when it comes to their dream homes. Is it still possible to buy a house during...
A recent survey revealed both good and bad news for young women. The report stated that women have better credit scores than men the same age do. However, the former also have more debt than the latter. As a result, they are less satisfied with their financial status. The survey involved 1,050 people born between 1980 and 1995. The questions asked were about their...
