Though the Philippine economy seems to progress lately through the strong remittances of Overseas Filipino Workers (OFWs) and the booming Business Process Outsourcing industry, the state of our country’s infrastructure, transportation, education, and household income is still in bad shape.
The growth of our tourism sector has not reached its full potential yet as it is hindered by the lack of (and inefficient) infrastructure such as airports, trains, roads, etc.
The high inflation rate of the yesteryears has downsized the purchasing power of our peso. Prices are constantly going up but our income still has not changed.
Nevertheless, our determination and persistence in building our nation today will never be in vain. We just have to keep this momentum, focus and work hard to reach our goals for tomorrow.
Thus, it is wise to refrain from acquiring luxuries such as a car, vacation, gadgets and other doodads especially if you don’t have enough savings yet.
Instead of buying stuff that depreciates in value, save and hold your money so you can have a strong financial portfolio, and at the same time, you will be able to acquire cash-generating assets that will augment your income in the future.
Review your finances regularly, and never let your hard-earned money, which you accumulated and saved for years, be wasted by your (or others’) imprudence and impulsive indiscretion.
Let the change begin with us.