Cash-In-Hand: How Electronic Cash Transfer Systems Can Help Filipinos Overcome Poverty

It’s no secret that many Filipinos, especially those living in far-flung areas in the provinces, are living below the poverty line. This is often worsened by the need to take on toxic personal debts, usually from loan sharks, which perpetuates a crazy cycle of poverty and ever-increasing debts.

One of the biggest reasons for this is financial illiteracy and inability to access basic financial products and services. Lack of knowledge prevents many Filipinos from managing their finances well while lack of access to the financial system forces them to settle for usurious debts from loan sharks.

CashInHandPaymaya
Oxfam Pilipinas and Paymaya executives together with Bangko Sentral ng Pilipinas’ Pia Bernadette Roman-Tayag

Continue reading Cash-In-Hand: How Electronic Cash Transfer Systems Can Help Filipinos Overcome Poverty

Which Bank Did Rizal Save Money In? Did He Invest?

If you remember your Philippine History classes, you know that Jose Rizal lived a frugal life while he was studying in Europe. He had to cut down his spending on food and clothing and walked long miles so that he could save up for his studies and for the printing of his books.

He had his goals set.

But did our “National Hero” invest his money on an instrument for it to grow further?

The Philippine Stock Exchange has not been established during his time. Not even the Manila Stock Exchange.

But regardless if he invested or not, he definitely saved his money in the bank. Continue reading Which Bank Did Rizal Save Money In? Did He Invest?