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6 Skills to Boost Your Financial Literacy
Career & Money

6 Skills to Boost Your Financial Literacy and Stability

Being smart with money requires financial literacy—that means having the ability to understand and use various financial skills like budgeting, investing, and managing debt. By improving your financial literacy, you can achieve lifelong goals like opening a business or retiring comfortably. Discover how you can take charge of your finances, so you achieve your savings goal and avoid debt.

1. Learn the Fundamentals of Finance

Concerned Asian woman looking over financial plans in the kitchen.

Improving financial literacy can help you minimize expenses and maximize your savings.

You can't master money matters without understanding the basics of financial planning, saving, budgeting, and more. These skills help you effectively manage your resources, set achievable financial goals, and secure your future.

 

If you know where to look, the internet is full of information. Take blogger Fitz Villafuerte. He’s a civil engineer who became a registered financial planner. He now provides advice through Ready to Be Rich. Villafuerte’s blog covers dozens of topics on finance and debt management, saving, and investing. You can also learn more smart money habits on his Spotify podcast.

 

Another seasoned financial coach to follow online is Randell Tiongson, who has over 30 years of experience in banking and money management.

 

If you’re always on the go, what better way to receive your financial education than through a podcast? Peso Smart PH, hosted by Emmanuel Del Mundo, helps you achieve your wealth-building goals through investments. If you want to conquer the tricky Philippine stock market, this podcast is for you.

 

The learning doesn’t end there—you can access more information through finance books, social media accounts, and newsletters.

 

2. Manage Your Expenses

Asian man calculating expenses with a calculator and laptop at a desk.

Finance apps can help you manage your daily expenses and pay your bills.

Control your spending to ensure it aligns with your financial goals. Using a finance app offers the advantage of real-time tracking, allowing you to monitor your spending habits. You can also use it to set budgets and get an overview of your financial health.

 

Popular budgeting apps like Good Budget and Money Lover support local currencies and connect to your favorite banks for seamless tracking.

3. Start a Budget Plan

Budgeting is vital for financial stability. It can help you prioritize what to spend on, avoiding unnecessary debt. It doesn’t have to be complex—you just have to be disciplined. Use a simple spreadsheet to get a better overview of your spending habits. With a good budgeting system, you can reduce spending, avoid debt, and even build a healthy emergency fund!

 

A typical budget plan will include your income, fixed expenses, varying expenses, and savings.

4. Find Easy Ways to Reduce Spending

Tightening your spending habits offers numerous benefits. You’ll have a healthy financial safety net, and you can free up opportunities to achieve your dreams, like going on holiday or building a home. 

 

Start by shelving frivolous items. If you don’t need it, don’t buy it! If you’re considering spending on something you might need, ask yourself: Can this wait? Is this purchase really necessary? Be thoughtful and deliberate about your expenses.

5. Consult a Financial Advisor

Asian couple calculating their costs on the couch at home.

Financial advisors can help increase your understanding of complex money-management practices and investment methods.

Financial advisors are the perfect advocates to have in your corner when you want to improve your financial skills. These professionals can discuss money concerns like debt management and be present for long-term financial decisions. Plus, they’re just one call away and can help you address any monetary issues for peace of mind.


Some popular options for working with a financial advisor include BPI-AIA, Sun Life, and AXA Philippines among others. You can also hire personal finance planners from RFP Philippines — just fill in the inquiry form to request a consultation. When shortlisting financial advisors, go in with a clear goal. Do you want to set up a retirement fund or save for a new car? Provide this information, so your advisor can tailor-make a manageable plan.

6. Sign Up for a Financial Literacy Program

Joining a financial literacy program can equip you with the knowledge and skills to make informed financial decisions, manage debt, and plan for retirement. 


Many financial institutions, including GCash, offer free FinLit courses. Last year, GCash partnered with the Bureau of Treasury, providing the institution with free financial literacy modules for Filipinos. The Technical Education and Skills Development Authority (TESDA) also offers a course on financial literacy called “Managing Your Personal Finances.”

Start Achieving Your Financial Goals

Master your money with GCash, which lets you take control of your expenses and save with just a few taps. Access more financial tools with a prepaid WiFi connection. On your mobile? Create a personalized combo of text, call, and surf promos with GoSAKTO, so you load up only on what you need. It’s easy to stay connected with budget-friendly promos. Remember, financial literacy can empower you! Every step you take in improving your financial skills is one step closer to achieving full financial freedom.

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