Categories
Finance

The Lack of Financial Literacy in the Philippines

Financial literacy is the capacity to comprehend and efficiently handle money.

It covers a wide range of financial principles, including budgeting, saving, investing, and debt management. Sadly, financial literacy remains a serious issue in the Philippines.

Many Filipinos lack the information and skills necessary to make sound financial decisions, resulting in financial instability and vulnerabilities. This limits their capacity to learn about financial goods and services which makes it harder for them to save, invest, or acquire credit.

The lack of financial education in the Philippines could be for the following reasons:

  • There isn’t yet a comprehensive financial education program or a required subject in the school curriculum today.
  • Poverty and low-income levels, for example, make it harder for people to prioritize and buy financial goods and services. The recurrence of investment misrepresentation and fraud happens often victimizing vulnerable groups in favor to get-rich-quick schemes despite the government efforts and advisories.
  • The media and marketing messages that favor quick pleasure and consumption above saving and investing.
  • The low level of financial literacy is also influenced by cultural factors from family, and friends, and frequently turn to them for financial guidance. However, they themselves are not equipped enough to give sound financial advice and this could result in a loss of independence in financial decision-making as well as a lack of confidence in financial institutions.
  • The role of informal financial systems, such as pawnshops and loan sharks online that you can get cash in just few taps, that do not promote financial literacy or responsible financial behavior.
  • People’s inclination to rely on financial goods and services they may not completely comprehend, which might lead to financial troubles later on. A lack of awareness of the risks and rewards of various financial goods and services.

The best thing we can do to improve our financial literacy as individuals is to take matters into our own hands by doing research, learning, and understanding the basics of money.

We’re starting a series on everything related to finance that would be simple to understand, get started with, and most importantly, to promote financial literacy. It can help you be equipped to make wise financial decisions, knowledge of various sorts of investments, and create a more secure financial future.

Categories
Finance

Latest SSS Contribution Table 2023

SSS (Social Security System) is a government-run social insurance program is your ticket to peace of mind and stability in case of life’s unexpected twists and turns. The SSS collects contributions from its members and invests these funds to provide social security benefits and services. Whether you’re an employee or self-employed, the SSS has got you covered with its wide range of benefits including sickness, maternity, disability, retirement, and death benefits.

Here’s the new SSS Contribution Table for 2023:

Regular Employers and Employees

Self-Employed Members

Voluntary Members and Non-Working Spouse

Household Employers and Kasambahay

Source: SSS

Categories
Adulting

How to Get PSA Birth Certificate Online

Say goodbye to long queues and endless paperwork. Getting your PSA birth certificate has never been easier! Thanks to the power of the internet, you can now get your hands on one of the most important documents of your life without ever leaving your couch. Yes, you read that right – from the comfort of your own home, you can now get your PSA birth certificate with just a few clicks.

To get a PSA (Philippine Statistics Authority) birth certificate online, you can follow these steps:

  1. Go to the “PSAserbilis website“

2. Select “Birth Certificate” from the list of available documents.

3. Fill out the required information, including the full name of the person on the certificate, date of birth, and place of birth.

4. You have the option to send it to an embassy or government agency

5. Choose the delivery option and provide the necessary details.

6. The delivery options are from 2Go Express, LBC Express, PHLPost, DHL Express.

7. Review the summary of your request

8. The price is from PHP 330.00 per copy and USD 20.30 per copy for the delivery destinations outside the Philippines.

9. Pay the fee, which can be done through credit/debit card, Gcash, Grabpay, Shopeepay, or over-the-counter payment at any Bayad Center.

10. Wait for the PSA to process your application and deliver the certificate to your address.

By following these easy steps, getting your PSA birth certificate has never been more convenient. So, instead of wasting another minute standing in line, let’s embrace technology and get our hands on this important document from the comfort of our own homes. Plus, think of all the time and energy you’ll save, you can use that to catch up on your favorite shows or enjoy a well-deserved sleep.

Stay ahead of the curve is what it’s all about!

Categories
Life Hacks

How to Shop at SM Markets Philippines

Attention, all savvy shoppers! Have you ever considered shopping at SM Markets from the comfort of your own home?

Yes, you may now shop at SM Markets! Say goodbye to long lines and crowded places and welcome to stress-free shopping.

You may explore a large choice of items, compare prices, and have your purchases delivered straight to your home with just a few clicks. Shopping has never been easier or less stressful! So sit back, relax, and enjoy the shopping experience!

Get ready to discover a whole new world of shopping possibilities at SM Markets Philippines online.

To shop online at SM Markets, you can follow these steps:

  1. Go to the SM Markets website and select the “Online Shopping” option from the menu.

2. Browse through the different categories of products, such as groceries, household items, and personal care products, to find the items you want to purchase.

3. Add the items to your shopping cart and proceed to the checkout page.

4. Enter your personal information, including your name, contact details, and delivery address, to complete the ordering process.

5. Choose your preferred payment method: Credit card, Gcash, Grabpay, or pay by link later.

6. Confirm your order and wait for an email or text message confirming the details of your purchase, and pick up or delivery date and time.

7. You can track your order using the provided reference number.

Shopping at SM Markets Philippine online is not just convenient, but also a time-saving solution for all your shopping needs. No more fighting for parking spots, waiting in long lines, or carrying heavy bags. You can now get everything you need with just a few clicks and have it delivered straight to your doorstep or just pick it up in store when you are in a hurry.

Start shopping now and experience the joy of shopping made easy!

Categories
Adulting

Is experience the best teacher?

Experience is often said to be the best teacher, and for good reason. The saying implies that through direct experience, one can gain valuable knowledge and skills that cannot be acquired through simply reading about or listening to others’ experiences.

When we experience something firsthand, we can appreciate depths and complexities of a situation better when we have direct experience, which is not available with secondhand information. Reading about how to swim, for example, is not the same as actually getting in the water and learning how to swim. Swimming’s bodily sensation and motions can only be properly comprehended by firsthand experience.

What can experience teach us?

It enables us to enhance our critical thinking and problem-solving capacities. When we face an issue or an obstacle, our prior experiences might help us approach and overcome it. We may learn from our mistakes via trial and error to help develop our decision-making abilities

It’s important to note, however, that experience alone is not always the best teacher. Sometimes, seeking guidance from experts or professionals can provide valuable insights and shortcut the learning process. Therefore, it’s a balance of both direct experience and guidance that leads to the best learning outcomes.

Furthermore, doing something permits us to apply what we’ve learnt in real – life conditions. Because of our previous experience, we will be better prepared to manage a similar situation in the future.