From gourmet tuyo, restaurants, rental properties to events planning, Neri Naig-Miranda's business portfolio is only growing by the day. With her various business endeavors, she has lived up to her moniker of being the 'wais na misis.' And recently, she has also proven to be a 'wais na nanay.'
In an Instagram post last February 17, 2022, Neri teased about a new business venture—a condominium unit that will be opened for rental. But this property is not an addition to the businesses under her belt. This is her son Miguel Alfonso “Miggy” Miranda's first-ever investment slash business.
Yes, Neri's firstborn son with her husband Chito Miranda, who just turned 5 last November 2021, is already a rental property owner!
Posting a 3D plan of the condo, Neri shared that the property was bought using Miggy's earnings from his endorsement deals.
"Since may mga endorsements na si Miggy, inipon ko ang money nya para makapag invest at mapagkakitaan pa rin. Para habang bata pa, may negosyo na siya."
Miggy's pay during his first endorsement was used as the initial payment for the property, which was being sold as a presale back then. As years passed and as Miggy got more endorsements, eventually, they were able to pay for the condo in full.
The mom of three also notes the importance of teaching the children about how to handle their money wisely. "Tuturuan namin ang mga bata na maging financially literate. I think ayun ang dapat matutunan nating lahat kahit nung bata pa lang tayo eh. Pero it's not too late sa atin kahit anong edad pa tayo. Ang mahalaga, nagsisimula na tayo," Neri notes.
Once the condominium starts earning, Neri says income will go straight to Miggy's bank account.
Financial literacy among Filipinos
In a speech for the Financial Education Stakeholders Expo in November 2021, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno cited a 2015 World Bank survey, which showed that Filipino adults lag in financial literacy among our Southeast Asian peers.
However, Diokno highlights that in some ways, the COVID-19 pandemic improved "Filipinos' financial behavior since there are more people who are now saving, are availing of health and life insurance, and are preparing for their retirement."
With more resources available now tackling financial literacy, from various courses available online to financial advisors using online platforms to share money insights, parents are more equipped to set the right path for their kids to be financially successful.
How to raise money-smart kids?
As children's basic and first educators, it's vital for parents to teach their kids the right values early on, so they become money smart.
In his book, Life Principles by Injap Sia, the Mang Inasal founder shared life principles that helped him become one of the youngest billionaires in the Philippines. These insights can be a guide for parents on how to raise a kid with a growth mindset for money.
Below are three practical lessons on money every parent should know and impart on their kids from Injap: (Read more here)
1. Effort and hard work—not money—are the first steps to wealth
Injap recalled that during Mang Inasal's humble beginnings, he and his wife were the ones preparing chicken marinades by hand until the wee hours of the night. Their days would start really early and end very late. "We had little sleep all throughout the startup years. We had zero long vacations for many years," he shared.
2. Parents must be their children's first role model
Growing up, Injap's family was not rich, but his parents worked hard to open up and run a grocery store from scratch. This was the same value he carried when he started Mang Inasal.
"We saw how their dedication helped build their business brick by brick, and I saw how their day-to-day dealings shaped the way it grew," writes Injap." My entrepreneurial spirit was nourished by watching my parents do everything on their own."
3. Introduce responsibilities to children
There's a saying that experience is the best teacher. And that proved to be true for Injap. It was during his days helping with his parents' business that he learned and developed a passion for entrepreneurship.
"We used a candle to seal the repacked bags one by one," he says. "Upon my suggestion, we started to use an electric sealer for the plastic bags—it was a small change (and it was perhaps less fun than working with a candle), but that little tweak improved our work."
There's indeed more to life than money. Still, it also pays (both figuratively and literally) if children learn the value of being smart with money.
Read more tips on how parents can influence kids to have a healthy attitude towards money here.