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Wives, Keep Your Own Bank Account And Work Hard, Says This Mom Of 3
  • Recent posts of entrepreneur and model Mikaela Lagdameo-Cruz on Instagram are hinting that she is now a single mom of three, especially when she posted in January this year that she is "alone but strong."

    In February, she started sharing about moving into their new home. 

    In celebration of International Women's Day, Mikaela shared a piece of financial advice that we ladies can learn from.

    She wrote, "I’m probably the last person you’d want marriage advice from.. but here’s something I did that I don’t regret when it comes to finances."

    Mikaela said she started becoming financially independent at age 15. "So even when I got married I kept my own bank account and continued to work hard so that I never had to ask anyone for anything."

    She continued, "In fact, it also allowed me to be able to provide for whatever my family needed without having to burden anyone." 

    "So if there’s one thing also I’ve been teaching my daughter is to work hard and gain financial independence as early as now! Ladies. It’s never too late!" she added.

    Mikaela's daughter, Noelle Martinez, is a Star Magic artist and social media influencer.

    She then concluded it with the hashtag, "you can buy yourself flowers."

    Among those who agreed with her were strong women Karel Marquez and Bubbles Paraiso, who said in a hashtag, "You can buy yourself your bag collection." Karel is a soon-to-be mom of four, who has several businesses, including an online plant shop, and even used to sell her homemade callos.


    READ ALSO: 'Deserve Ko To!' Moms Share Why Buying A Luxury Bag Is Not Selfish

    One of her friends said that she and Mikaela have had an entrepreneurial mindset since college. To which she replied, "Since high school, I used to sell lychee Jelly Ace per piece!"

    GP Reyes, the husband of Andi Manzano and a businessman, applauded her too. 

    Like Mika, Solenn Heussaff opened up that she and her husband Nico Bolzico have separate bank accounts and a joint account where they get funds for their family expenses. "So my earnings are my earnings, and his earnings are his earnings. And then we have a joint account, wherein monthly we put in the same amount,” Solenn shared. 

    READ ALSO: Sarah Geronimo Only Learned How To Handle Her Finances After Getting Married

    'Gusto ko meron akong sariling pera'

    In the Smart Parenting Village, our Facebook group for parents, some stay-at-home moms feel worthless especially when they don't have their own money to spend on themselves.

    An anonymous mom recently shared, she has been unemployed for 11 years now. She had to stop working because they cannot find a good helper who fits their needs. She said she's already 42, "Gusto ko meron akong sariling pera, yung hindi ako hihingi sa hubby ko."

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    Parents comforted the mom and assured her that her feelings are valid. They also suggested that she look for work-from-home jobs, since her son is already 10 years old. 

    READ ALSO: All The Links You Need To Find Online Work From Home Jobs This 2023

    One of the comments that stood out posed a question to the anonymous mom: "Would you like to be at the retirement age or even older without a cent to your name? This is not okay for some people, okay naman to some. Depende yan sa tao. But since bothered ka. I think hindi okay sayo."

    Join the conversation here.

    How to work towards financial independence for wives

    If you are in the same boat as the anonymous mom, as Mikaela said, it's never too late to be financially independent.

    Here are some tips on how to start saving up on your own:

    1. Set a goal

    As Mika said, she is already teaching her teen daughter to be financially independent. If you are inspired to start saving up, you may want to set short-term and long-term goals for yourself and for your family, then work from there.

    Here are some examples of goals that you can set from a previous Smart Parenting article:


    • Emergency fund

    • Child’s baptism

    • Family vacation (local destination)


    • Preschool education

    • Buying a car

    • Renovating a room

    • Setting up a business

    • Trip abroad with spouse or friends


    • Elementary to college education

    • Trip abroad with children

    • Acquiring property

    • Retirement fund


    Whether you want to explore working from home or starting a business based on a passion that you love, remember to focus on your goal and not be too hard on yourself.

    2. Pay yourself first

    Before spending your hard-earned money, set aside a portion for savings. It is recommended that you put it in a separate account. “If you don’t divide your savings into separate specific accounts, there is a bigger chance that you will spend funds that are allocated for another purpose,” explains bank manager Eleanor So. Doing this will encourage you to see how's your progress and if you are staying within your budget. 

    3. Invest in insurance

    In a 2020 survey, the Philippines ranked fourth in the worst retirement system in the world. Working on being financially independent now also assures us that our children will be secure when something unexpected happens to us.

    There are a lot of insurance companies that already offer investment and insurance in one, and you can just buy it online. For as low as P998 per year, you can already be insured with P100,000 in case of an accident or death.

    We all have to start somewhere to save up and become financially independent. The first thing we have to do is acknowledge that we need it and we want it, not for anyone, but for ourselves.


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