Three Personal Finance Rockstars in the Philippines that you Should Follow in Social Media

Social Media has been one of the major reasons for the continues growth of Financial Literacy here in the Philippines.

Though I may not have the exact number, but curiosity and interest in managing finances effectively has increased tremendously over the past several years. This is evidenced by various organisations that are popping out trying to further increase awareness of Financial Literacy.

However, with the increasing number of groups/individuals to follow, the question of who’s really the real deal may arise. With that, here are the top four people in my Facebook Newsfeed that I don’t fail to learn something new.

Personal Finance Rockstars

Bo Sanchez (Facebook)

Bo SanchezWith his free ebook My Maid Invests in the Stock Market, the preacher in blue jeans has inspired a lot of Filipinos to invest in the stock market. He somehow erased the idea that the stock market is for the reach only. Upon reading the said ebook, his readers ends up asking, “if his maids can invest in the stock market, why can’t I?”.

Over the years, retail investors in the stock market slowly increase, which really gives hope on our Philippine Stock Market for future enormous growth.

One thing about Bo Sanchez is that he is a Preacher. Nope, he’s not a priest, but a layman who finds his mission to preach the word of the Lord to a surprisingly huge crowd of people who follows his faith organization.

Why follow Bo?

Bo Sanchez’s approach in teaching about money is by integrating it with the teachings of the Holy Bible. I’m not a very religious person, but when I attend The Feast (Bo Sanchez’s weekly Prayer Meeting), discussions about money provides more meaning on a wider universe, rather than the pursuit of it for thyself.

Chinkee Tan (Facebook | Youtube | Viber)

Was once known as one of the “Hawi Boys” of the once popular Randy Santiago, Chinkee Tan offers a story of how life can turn around from poverty to a life of abundance.

Here’s an interview of Korina Sanchez with Chinkee last 2007 for you to learn more about him:

Aside from show business, Chinkee Tan’s background includes coming from the Network Marketing business – such background provided him insights on how to really help people not only on managing money, but also in providing business ideas that helps his audience have something to manage.

One of the things I like about Chinkee Tan is the he is VERY ACTIVE in social media, especially in Facebook. If you are following him at Facebook, you will often receive notifications that he is doing a live broadcast using Facebook Live, sharing some small bits of information that could motivate and inspire people into taking action.

I really appreciate this guy’s energy in trying to uplift the Filipino people the best way he can.

He’s very active in radio broadcasts too. You can hear him talk at Radio 5 early morning on weekends.

Randell Tiongson (Facebook | Viber)

Randell TiongsonThe very first time I encountered Randell Tiongson was when I took the Financial Planning modules conducted by the Registered Financial Planners of the Philippines (RFP) way back in 2010/2011.

Randell’s background was on the Financial Advisory business worked as an Insurance Agent for several years (don’t know exactly how long, but I know it’s a very long and extensive experience). His insights came from various experiences with different people and clients.

He is currently the Director of the RFP Philippines, guiding Financial Planners with the proper pillars of financial planning, which will then be used in guiding their clients, families, and especially, themselves.

Randell regularly posts upcoming seminars of different Personal Finance personalities and leads a Viber Chat (together with some interesting personalities) where we can gain  insights on the world of personal finance.

Of course, these people are my personal choices.

How about you? Who do you like following in Social Media? Please share them in the comment section below.

Financial Literacy: Where Should You Start Your Journey?

Here’s the truth – we often realise the need to educate ourselves about money at different ages of our lives.

Some people realise it early in their lives, some at the middle of the road, and some due to the pressure of upcoming retirement.

With these diversities, how would we even know where to start our journey to financial literacy?

I. First, we have to understand what MONEY is.

It’s a tool, a commodity, that we use to exchange for products or services.

Money by itself is neither GOOD nor EVIL. Thus, the saying “Money is the root of evil” is a complete fallacy.

How we use it and what do we do with it is the one with morality. We either use it for good intentions or for the wrong reasons.

Firearms are used by soldiers to protect a nation. It’s also used by terrorist to spread terror. Firearms are neither good, nor bad by itself.

We use knives as a tool in cooking, to feed people. Some use it as a weapon on crimes. Knives are neither good, nor bad.

Money is a tool. Nothing more, nothing less.

II. The Goal is to have a plan.

We can look at money as grease to a machinery, and our lives as the systems to those machines.

The main goal is to keep the grease flowing (easing friction), to have sufficient grease flowing from one system to the next (Investing), while ensuring possible leaks are covered (Insurance).

In short, the goal is to look into our own lives and prepare for what’s ahead (Plan A), while looking outside and to those lives connected and dependent to us just in case life turns out different from what we have expected (Plan B).

There is no one-size-fit-all Financial Plan. That’s why it’s very important to assess ourselves – the things that we have, the things that we might have in the future, and the things that we may lose when we don’t reach the future.

III. We’ll eventually learn and look for instruments that we can use to address different areas of our lives.

Financial literacy is not just about investments, nor just about insurance, nor savings.

It’s a combination of all of these instruments in consideration to several factors of our lives – age, personality, dependents, financial resources, and more.

It’s about how to handle money as a tool, and make it work towards the attainment of what we want to happen in our lives – ensuring that they will happen, with or without us.

If you are just starting this journey, it’s true that there is still a long way ahead, with a lot of things to learn. And it will never end.

But as we go along this journey, we’ll eventually realise that it’s not really about the money. It’s really about getting it out of the way so we can focus on the things (people and relationships) that really matter.