Utang na naman

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It is already part of the Filipino culture to borrow money with friends, relatives, family members, and even neighbors if somebody needs it. What’s worse sometimes these people who borrowed money forget that they owe somebody. Bakit nga ba kailangan pang mangutang?

Majority of the Filipinos are not familiar with emergency fund, most of us do not really save for emergency and grow this money for the future. Most of us trodden our saying, “Aanhin pa ang damo kung patay na ang kabayo?” (What good is the grass if the horse is already dead?) so we usually spend all that what we have.


Read also: Emergency Fund


There is nothing wrong if we really need to borrow money but only borrow what you can pay and pay in due time. Here are some tips that might help you to stop borrowing:

  1. Discipline yourself to live within your means. If you cannot live within it, increase your source of income and lessen your unnecessary expenses.
  2. Prepare your emergency fund for any urgent expenses~and that should be at least 6 times worth of your monthly expenses for singles and 12 times worth of monthly expenses for those who are married.
  3. After you have save for your emergency fund, invest in diversified asset classes such as: mutual funds, stocks, bonds, properties etc.
  4. Educate yourself continuously and learn more how you could handle your finances more responsibly.
  5. The “lack of money” is the root of all evil. (from the Mark Twain’s Notebook)

Read also: Financial Fitness Tips


Image credit: hercampus.com

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