MANILA, Philippines – It’s that time of the year again when working Filipinos receive their 13th month pay and Christmas bonus.
Filipinos usually allot part of the extra cash to travel goals or the latest gadgets.
But according to the founders of Lista, a financial management app, Filipinos are starting to become more financially literate.
According to Lista co-founder Aaron Villegas, the pandemic has somewhat nipped some bad financial habits.
“The biggest factor is the pandemic. People realized that there might not be any funds coming tomorrow so we need to prepare for it,” Villegas said in a Business Sense episode.
However, Filipinos have a long way to go to achieve a better and more sustainable budget.
“We had a research that [found that] when Filipinos create their budget, part of it assumes some form of debt,” said Khriz Lim, Lista co-founder. – Rappler.com