Update on my Family's Financial Status

After I wrote a post analyzing my familys financial status last month, I realize how selfish I was not to share what I have learned & not to be concern on that aspect before. I was more focused on reaching all my personal goals not thinking that if something happens to a member of a family we will all be affected financially. I actually just want to show them how to be hardworking, to be thrifty and to be particularly financially aware but it seems like they don't care at all.
Two weeks ago I talked to my youngest brother about opening a savings account , his usual answer
"Saka na ate, pagdating ko na lng may biyahe pa ako papunta kami next week sa Lanao." He works in a govt institution (NAMRIA) where gets deploy in different provinces to do a survey for mapping research.
Ok, pagdating mo baka ubos na naman pera mo, tanong ko lang sa yo--" Ilang taon ka nang nagtatrabaho - 6 years na di ba?"
"Kaya mong magkape ng mahal o gumastos ng libo sa pagkain sa labas pero ni singkong duling wala kang kahit isang savings, ano bang plano mo sa buhay?"
"No plans pero baka raw mag-abroad sya - experience lang daw muna"
"Okay, so you are gaining experience here and I know you have the ability to fulfill that dream but you have no financial back up at all, then start saving today, it's only P 200.00 and you can already open a savings account.Whatever your plans are, "If you want to work abroad or you want to get married tomorrow" you must be ready for that.
So he showed me a jar full of 10 peso coins, ok ok cge na te - eto na lang , mamaya mag open tayo. It was Sunday we went @ MarketMarket to Wealthbank and we open a Passbook savings account and when we summed up all the coins naka-P 800.00 pa siya medyo scandalous pa ang tunog ng coins nung bilangin ng teller sa bangko, heheh. We opened an "OR" joint account so I can have access & I can easily monitor it -  "Bawal mag-withdraw unless its necessary".

I showed three passbooks here - for my Kuya, my youngest brother & my passbook. Last week bunso handed me again P 1,000.00 before he left to Lanao "Te, paki-deposit ito". I'm happy he's starting to practice a financial discipline as I have told him to have just at least P 3,000.00 to P 5,000.00 savings before the year ends. I also added P170.00 to my kuya's passbook to close its balance to P1,000.00. My next goal is to convince my kuya to start saving again though it may be hard because he's older than me.
Yesterday we received this welcome letter from Wealthbank confirming our account, I put this in bunso's room so he'll be more conscious of his savings account. Not that I am promoting Wealthbank but with just P 200.00 (maintaining balance) you can open a passbook account there & P 500.00 to earn 0.25% interest. They have two branches here in Metro Manila - Market Market Taguig & Ayala Alabang but nationwide they have 17 branches already. So if you want to start to save & if you live near Market Market Taguig or Ayala Alabang you can drop by to their branch office from Mondays thru Sundays or check their website www.wealthbank.com.ph for further informations.

The chart shown here is my family's financial status I posted last month , I cannot do something for my parents since they are already old now I'm only concerned of their health but I am trying to change the mindset of my two brothers that are still living with us & has the ability to earn & save too.

 By next year, my mission is to let them start making contributions on SSS,Pagibig fund, Philhealth (need to start with the basics). Hopefully they'll realize that it's for their best interest to be financially prepared and not to live a "bahala na system" an attitude that most Filipinos have.


Just in the mood for sharing! Happy Weekend!!!!