The Importance of Financial Literacy For Every Young Professional

Ten years ago, I started working as a writer for an international website in Makati City. The pay was incredibly higher compared to the usual work offered in the business district of the metro. As my salary depends upon my productivity, I prefer to accomplish a lot of writing tasks so that I'll receive a higher pay. Indeed, I experienced being in the top five list of productive employees almost every month and was even promoted as a senior writer.

Because of the awesome job opportunities, I had a lot of extra cash in my wallet. As a result, I always enjoy shopping since I love fashionable clothes. As long as I have extra money, I visit my favorite shopping districts to buy different items. Aside from that, I travel around the country if I have free time.

Obviously, I don't have savings account at that time. I was busy spending hard-earned money without thinking about financial preparedness.

Did I enjoy life at that time?


Did I worry when unexpected expenses occur?


Simply put, I wasn't truly happy at that time.

My mother asked me to help her support my brother's expenses at school. It really affected my spending habit because it seems that I'm already out of cash even before payday. It happened for almost a year and it really made me sad.

One Monday afternoon, I dropped by National Bookstore at Makati Avenue area to search for self-help books. I started reading Robert Kiyosaki's Rich Dad, Poor Dad and even finished reading The Midas Touch in just one sitting. As time goes by, reading self-help books became a habit.

One knowledge leads to another, especially when I started attending seminars about financial literacy. My friend Fe, who is a lawyer now, invited me and my husband to attend in a seminar that has something to do with selling insurance products. I didn't hesitate to participate in the said program since I want to support my husband who signed up later to be part of the team. 

I have no regrets in using my free time to discover new things in this life. If I didn't attend seminars about investing money and other financial management lessons, I wouldn't learn the importance of financial literacy. Being able to set up monetary goals for the future is a remarkable experience.

Why is it so essential to be financially prepared? 

First, we don't know what will happen in the future. There are risks present in this life such as sudden death, accidents, calamities and other unavoidable circumstances. We don't even know if we experience the need to pay for hospital bills in case a rare illness is discovered by the doctor. Last week, this exact situation happened to my friend and she personally told me that being financially prepared is a duty of every individual. It can save a precious life. There are many expenses that we need to consider such as the payment of taxes, tuition for continuous education programs, home maintenance and more.

Second, we find it hard to keep up with time if we don't have prepared for the future. Have you noticed the increasing number of people who have enjoyed traveling nowadays? What about the ability of other people to buy their favorite clothing items? The popularity of health and wellness is so enticing to experience the trend. You're in the midst of an economic development that wasn't available before. It is truly inspiring. However, you will surely feel bad if you can't afford these lifestyle perks every now and then. It is not too late to change your perspective now. Use your talent to find opportunities to have extra income and save money to brighten your days.

Third, financial literacy is one way to experience freedom in this life. We just don't realize it but there are so many things that may take away our freedom these days. One of these hurdles is the bondage of bad debt. 

If you owe money, you need to slash your income every month to pay it. Why not eliminate your debt in a systematic manner? Every month, try to pay off debts that affected your income until such time that you're only paying the things that you really need.

If you're a young professional, try to observe the people around you. There are individuals that will borrow money from you because they've already depleted their allowances because of impulse buying and other negative spending habits. This is something that shouldn't exist in the workplace anymore. 

Today, I'm no longer the same person who spend money like it's water. I've heard this line from the Korean drama, Heirs, which is top-billed by Lee Min Ho, the one when his character first met Park Shin Hye's character in the US. I learned a lot from the said story because the leading lady is really poor. She learned to adjust and withstand the tests of time.

These days, I only spend money for travel and shopping when I have already saved enough for it. Because of my unforgettable experiences when I had more debts than extra money, I learned to be prudent, self-reliant and resourceful. I became hungry with more knowledge on how to become financially literate and encourage others to do so.

I hope I was able to inspire you to start aiming for a brighter future.