Business Sense

WATCH: Emergency funds, new gadgets? Lista founders share Christmas bonus budgeting tips

Ralf Rivas
WATCH: Emergency funds, new gadgets? Lista founders share Christmas bonus budgeting tips
When Filipinos prepare a budget, debt is always assumed. That needs to change, and it all starts with a list.

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.

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Business Sense: Lista founders Aaron Villegas and Khriz Lim

Business Sense: Lista founders Aaron Villegas and Khriz Lim

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

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.