“Utang na Loob” and Financial Obligations: Navigating Debt and Reciprocity in Filipino Culture
In Filipino culture, values such as utang na loob—a deep sense of gratitude and obligation—play an essential role in shaping social relationships, especially among family and close friends. This cultural concept has carried over into Filipino-American communities and...
Saving for the Future: How Filipinos Balance Short-Term Needs and Long-Term Financial Goals
For many Filipino-Americans, saving for the future is a delicate balancing act. On one hand, there are immediate responsibilities: bills, education, remittances to family back in the Philippines, and the rising cost of living in the U.S. On the other, there’s the...
The Role of “Pakikisama” in Filipino Financial Management: A Guide for Filipino-Americans
In Filipino culture, “Pakikisama” is a value deeply ingrained in everyday life. It emphasizes camaraderie, maintaining harmonious relationships, and communal cooperation. While this cultural trait is evident in social gatherings and community activities, it also plays...
Why Filipinos Prioritize Education and Family When it Comes to Financial Planning
For many Filipino families, financial planning is not just about securing individual wealth; it's deeply rooted in values that emphasize the importance of education and family. These two pillars—education and family—play a crucial role in how Filipino households make...
The Importance of “Padala”: How OFs Support Their Families Through Remittances
For millions of Overseas Filipinos (OFs), the word "padala" carries profound meaning. It isn't just about sending money; it's a symbol of love, sacrifice, and hope. OFs work tirelessly across the globe to provide for their families back home, and remittances—referred...
Honoring Veterans Day: A Tribute to Filipino-American Heroes and Building a Secure Financial Future
As Veterans Day approaches, we pause to honor the brave men and women who served and sacrificed for our freedoms. For Filipino-Americans, this day resonates deeply. Filipino veterans have a proud history of courage and dedication, standing alongside American forces in...
Understanding “Bayanihan”: How Filipino Values Shape Financial Support in Families
In Filipino culture, "Bayanihan" is a powerful value that extends beyond helping neighbors move homes or volunteering time to community projects. It embodies the spirit of unity, cooperation, and collective effort, especially within the family. For Filipino-Americans,...
Celebrating Filipino-American History Month: Rod Mercado, the Advocate for Financial Freedom
October is Filipino-American History Month, a time to honor the rich cultural heritage, history, and contributions of Filipino-Americans in the United States. It’s an opportunity to celebrate individuals who have made a significant impact within the community. One...
Strategies To Avoid the Debt Trap
Taking out a small loan won’t hurt. Maybe not. But when you fail to pay on time or in full, it could turn into a financial nightmare. Accumulating fees and penalties can inflate your debt, trapping you in a relentless cycle. This is the classic debt trap. Borrowing...
The Debt-Job Balance: Overcoming Debt to Boost Job Success
Regardless of income, money and debt can significantly affect mental health. When individuals are required to use a large portion of their earnings to repay debt, it often leads to considerable stress, anxiety, and depression. According to Bankrate, 48 percent of...