An intimate group of mommies sat down for the eye-opening talk on finances at the Smart Parenting Money Strategies for Smartmoms, an event co-presented by Profriends, last October 22 at Café 1771 in Ortigas Center, Pasig City. The sun was up and bright that Saturday morning, which resonated with the speakers' positive and encouraging pointers on saving up, investing, and ultimately raising financially-smart kids.
There couldn't be a more fitting first speaker than investment advocate Aya Laraya of Pesos and Sense, who had set the stage for a stimulating session on money matters through prying into the typical Filipinos' outlook and mindset about money.
According to Laraya, it's important that we know the answer to the basic question, "Why do we save?" Being clear about our goals and having a specific target amount to save up for are a must in determining the strategies for reaching those goals. Learn more about Aya's five-step action plan here.
The second speaker, "FQ Mom" and behavioral economist Rose Fres Fausto, would expound further on the significance of handling money matters in the family context. The financially savvy mom, who is also the author of Raising Pinoy Boys, underscores the need to raise children with high FQ (Financial-Intelligence Quotient) starting as early as possible.
As mommies, it is our nature to be concerned about our children's future. The old mindset is to advise them to pursue studies that would supposedly lead to a profitable profession. However, "No one knows what industry, what job will be lucrative by the time our kids enter the workforce," Fausto pointed out. "If he wants to be a singer or an animator, pabayaan mo. 'Pag marunong sa pera, he will survive."
The FQ Mom encouraged moms to design their parenting to raise money-smart kids. Aside from opening their own bank account and teaching them to save, challenge your kids to have earning activities during summer. "Take a look at what your kids are good at and make earning money second nature to them."
Fausto also believes in cutting the "financial umbilical cord" once your child graduates college to encourage him to be fully independent and driven to succeed in his chosen career.
Both speakers emphasized three common points: making big financial decisions a family affair, consulting only with legitimate financial experts, and investing.
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Drawing from her own experiences, Tet Bugayong, the Marketing Services Manager of Profriends, discussed how she was able to relate to the speakers' main points, especially on the topic of investment. The financial lessons she has learned through the years enabled her to share practical money strategies with mommies who are aiming to have their own family home.
Moms can look into communities such as Lancaster New City in Cavite. Situated near Metro Manila, this Profriends flagship project is a 1,600 hectare development that has residential, commercial, business districts, and an educational institution in one, giving you the option to work closer to home and be very near where your children study. Living in this kind of community lets you save on transportation costs and time spent in transit, enabling you to spend more time with your family.
In a nutshell, Bugayong advised mommies to build strong credit, reduce debt, and get educated on money matters before acquiring real estate. Bugayong also shared the five signs that you're already ready to purchase a home, as well as the factors to look into before choosing the right home for your family—including the neighborhood.
"Home is such a beautiful word… My wish for you is to be a happy homeowner, wherever [the home] may be," said Bugayong.
