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Finances for the Rainy Days: How to Always be Prepared


Financial planning is the process of identifying one’s needs, expenses, and savings. Identifying one’s needs, and not merely wants, is personal financial planning’s foundation. This will determine the amount of money you should be earning, spending, and saving.

We can’t be 100% sure of what will happen to us in the future. Planning is necessary so you can be financially prepared for your future. Sometimes unexpected things happen such as sudden need for home repairs or perhaps hospitalization. When these things arise, ideally, you should be prepared enough for the expenses these emergencies might incur. Here are some tips on how to be always ready:


Know your priorities. What are things that you can’t live without? What are things that you value? Identify these and learn to prioritize things that you have to consistently pay for. List down all the things that you have to pay for every month. Consider what you have to spend on daily, weekly, and monthly. Take it a step further: what do you wish to have in the future? What are goals you have to spend on? Know your short-term and long-term goals. Let these guide you.


Now that you know what your priorities and goals are, learn how to budget. Calculate the total amount of money that you earn each month. Find out how much you spend monthly. Are you making enough money to pay for all these? Or are you always running on credit? Do you have anything left for your savings?

Evaluate and Plan

Assessing your priorities, goals, and budget, create a concrete plan. If you figured that you don’t even have enough money for all your bills or you’re left with less than 25% of your monthly income for your savings, consider ways to increase your income. Perhaps you can take on an extra job? Or, maybe you can launch a business? Get creative. Also, see how much you should be saving up monthly in order to reach your short-terms and long-term financial goals in time.

Aim higher

Consider your options to create more income. Given your financial standing, how can you help yourself remain on track or even speed up the process in reaching your goals? Know that you have a lot of financial options like Cebuana Lhuillier’s micro-loan services. Cebuana Lhuillier has a network of 1,800 outlets and online presence give customers unlimited access and convenience in applying for a loan like “Lucky Loans” and “Happy Loans”. Visit the branch nearest you to find out more about these services.


These are just basic tips on financial planning. If you want to learn more, see if you can find financial literacy seminars near you. Remember: knowing what you need and having concrete goals are necessary for you to achieve your dreams. Stay on track and be committed. Good luck on your financial journey!