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Top 3 Money Tips For The Filipino Youth

Mobile load, online gaming on internet cafes, gimmicks, electronic gadgets and fashion are the stuffs that the average Filipino kids nowadays spend their money for. One youngster interviewed in a local TV station even admitted that she spends more money on her SUN/SMART/GLOBE prepaid load than snacks!

Are the Filipinos’ basic money management virtues such as frugality and practicality gone? Or we simply need to remind ourselves the importance of good money management skills? Well, we sure prefer the latter but the bitter truth is that thousands of our young guns out there need guidance on how to keep their dough.

The Filipino Youth and Their Finances

The Filipino Youth and Their Finances


Here are the Top 3 tips for the Filipino Youth:




See those life-meter in the games you play? A fuel bar on that racing app or that resources or points needed to upgrade an item in your digital arsenal?

Same as with real life, we also have that kind of meter which is called the: Money-Meter. It is also limited and it will soon be exhausted if you don’t manage it very well.

Back in 2004, my allowance was P150 a day which covers my transportation cost to and from Mapua Makati (which is about a total of P80) and P30 for snack or lunch. The P40 difference is the amount I set aside for my savings and for the usual college gimmicks.

Though the prices had certainly gone up now because of inflation, the idea of spending just within your means is still applicable today. Just like the budget specified above, you too can detail all your expenses to have that overview of your total spending. This will definitely help you survive and win, not just in games, but also in real life.



#2 – GET PAID!


Aside from your daily allowance, where else can you get cash?

Young ones nowadays can either go into a part-time job during their free time from class hours or venture out doing online jobs. The most in-demand work today are writing, translation, programming and web development and graphic design which were made possible by popular online job portals such as, and even including the Philippine-based website.

If you have the guts to do any of these, then this is the perfect time to grab the opportunity. You might also want to try starting a business of your own, such as selling home-made desserts, buy & sell stuffs or setting up your own online shop. Alternatively, you can also dive into the world of investing at our very own Philippine Stock Market for just 5,000 pesos through COL Financial’s EIP.

Trivia: Warren Buffett bought his first stock at 11 years old! And that was back in 1940s!

Remember that Mark Zuckerberg , Nick D’Aloisio, Bill Gates, Steve Jobs and other successful folks started young as you are right now! At this crucial point of your life, you must start practice earning and handling their own money wisely, and get paid in the process! Because if not now, then when?




While you may be earning a lot of money, you shouldn’t spend all of it especially on things you don’t really need that much. Having savings to tap on when times get rough proved to be a necessity for everyone.

Therefore, what you can do is to calculate your income and find the sum total of your usual weekly or monthly expenses and deduct the amount from your income. The rest must go to your bank account.

For youngsters, opening bank accounts that have low initial deposit is the first step to learning frugality and practicality. For example, one might want to try BPI’s easy saver account. At BPI’s easy saver, you only have to allot 250 pesos for your initial deposit and your ATM account.


Wrapping It Up!


See how easy it is to save your money today? Do Savings, Banking and Investing early, so you can learn the basics of financial management without begging your parents to back you up all the time. Being independent at an early age is a good training for the future.

The basic norms of handling your money properly are summarised in three points discussed above: First, determine the things you spend your money for regularly by setting and sticking to your budget. Second, find a part-time job or a small business that will generate income and hone your skills in the process. And lastly, keeping track of your spending and savings, avoiding unnecessary losses.

Follow these norms, and reap the sweet fruits of being a fine steward of your own finances! Cheers!

YOUR SKILLS = $ _____ per month

20131222-214701.jpgFill out this blank:

MY SKILLS = $ _______ per month

Here’s a cool way to know how much your skills REALLY worth…

Submit your resume online on major Job Portals in US, Australia, Canada, UAE, Singapore, Bermuda, Europe et cetera, afterwards, when they asked you how much is your asking price, throw the question back to them and ask how much they are willing to pay your skills and services.

Alternatively, you can simply research the pay scale of your industry or just ask your friends who are working abroad about the ‘range’ of their earnings. Again, just ask for the ‘range’ as they won’t spill their numbers that easily.

Never ever settle for anything less, while other people exploit the harvest that you had diligently worked for and toiled laboriously for years. Life is unfair so always keep your eyes open to see that you’re not being left behind.

You indeed, reap what you sow, thus at the end of the day, ensure that you got all the fruits of your labour.

Do it now or brace the anguish of regret tomorrow.