Close Family Ties of the Filipinos

The family only enjoys close ties once they no longer worry about future spending especially if they are now financially stable.

Unlike other countries, Filipinos have enough time to spend with their families after work.

That is, most of their companies require them to only report at an average of 8 hours and another one for the meal break. From that account, quality time has been observed since then.

In this pandemic, close ties strengthen as the government still enforces strict quarantine measures considering the increased number of positive cases for COVID-19. So, families stay at home.

Upon staying together, they spend their time wisely. The head and members of the family share household chores, which now lessens the tasks handled most by the mother before.

These tasks are cooking, doing the laundry, cleaning the house, etc. Afterward, they sing along, drink some wine, and talk about good times.

Apart from the close ties, they may have come into a realization of the value of being financially literate. It is to be money stable in this emergency situation.

Thinking about how many months or years this crisis ends, they neither ask loans anymore from the lending companies nor sell their appliances or gadgets as they have this emergency fund to rely on for their spending.

How to attain financial stability during/after this pandemic?

1. Increase income. If possible, seek for some income-generating activities. Invest in a timely business.

2. Reduce unwanted wants. Focus on the needs of the family.

3. Avail for healthcare insurance. This is to not worry when one's severely ill. We can't deny the fact that most of the hospitals demand much downpayment. With this insurance, you just present the health card then start enjoying the services.

In addition, Filipinos have to remember this simple formula in life: Income-tithes-savings=expenses. The family only enjoys close ties once they no longer worry about future spendings especially if they are now financially stable.

This article is originally written by Yves Sensei.

Do you have any thoughts to share? Feel free to leave your opinion in the comments section below.

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