REP. Maria Lourdes Acosta-Alba of the first district of Bukidnon has been doing the rounds ever since the pandemic started both in her constituency and online, campaigning for financial resiliency for each Filipino family.
Assisting Acosta-Alba in her quest is husband Joeman Alba, a banker by profession who has lent his financial expertise to his wife’s advocacy, by giving out webinars and in-person seminars on financial resiliency.
During his talk with local journalists last Monday (February 8, 2021) here in Cagayan de Oro City, Mr. Alba said that people must build resiliency funds which is equivalent to at least six months of average expenses.
“The business of surviving is our personal responsibility. It must be a core competence for every Filipino, whether you’re a student or an adult,” Alba said.
Alba said the purpose of the resiliency fund is to bounce back from an unprecedented situation especially now that the COVID-19 pandemic has not yet ended. “You sit down with your respective loved ones and evaluate your financial condition. Spouses have a role to complement each other to cushion the financial shock,” he added.
“Commit to lower your expenses. Avoid borrowing for consumption. Deposit your resiliency fund to the nearest bank,” Alba continued, even as he encouraged Filipinos young and old to build multiple revenue streams which may be in the form of startups.
“Explore what is catchy today like building bamboo cabins especially here in Bukidnon where the climate is cool and where urbanites like Kagay-anons tend to tuck the night away during weekends. There are lots of innovative ways to make income. Be financially resilient,” he concluded.
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