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Manila Bulletin devider Business devider Banking & Finance devider Your power to shape the future

Your power to shape the future

Published Nov 24, 2025 06:56 pm

At A Glance

  • Understanding money is an important life skill. More than freedom, this gives you the confidence and control to chase your dreams at your own terms.
  • Saving smart means saving in a bank and keeping your hard-earned savings in a bank is safe because bank deposits are insured by the Philippine Deposit Insurance Corporation or the PDIC.
“An investment in knowledge pays the best interest.” Benjamin Franklin said it centuries ago, but it still hits hard today.
In a fast-evolving world, understanding money is an important life skill. More than freedom, this gives you the confidence and control to chase your dreams at your own terms. Financial literacy is not just a nice-to-have skill. It is a powerful tool that will equip you to navigate the world that we know today.
To be financially smart is not about “how to be rich”. It is about you, being ready, no matter the situation. Hence, financial literacy will help you make better financial choices, avoid costly mistakes along the way, and turn your goals and passion into reality. When you know how money works, you work smarter.
Your first power move is to learn how to budget. This is a plan that helps you know how much money you have, how much to spend, and how much to save. Contrary to common misconceptions, budgeting is not about depriving yourself. Its real value is in enabling you to track where your money goes and prioritize what matters in terms of spending. Simply put, it is staying in control of your finances. When you know which “spends” to prioritize, you are not avoiding fun; you are just being disciplined and getting ready for the future. Hence, knowing how to budget will guide you to power-move to win in life.
Your second power move is to learn how to save smart. Remember, “save smart”, not simply, “save”. And saving smart means saving in a bank. Keeping your hard-earned savings in a bank is safe. It keeps you protected and ready for opportunities. In the Philippines, bank deposits are insured up to the maximum deposit insurance coverage (MDIC) of ₱1 million per depositor per bank effective March 15, 2025. The MDIC refers to the maximum amount of depositor’s money in an insured bank guaranteed as safe by the government. And that government instrumentality mandated by law to provide deposit insurance is the Philippine Deposit Insurance Corporation or the PDIC.
A bank deposit account, coupled with your strong savings record, can help you fulfill other future needs such as education, securing a house, applying for loans, or even funding your travel goals. Thus, saving is not just for emergencies. If done habitually and religiously, it is your ticket to limitless opportunities.
Your third power move is to stay ahead with financial literacy. Economic and financial knowledge is not just about survival or thriving in a fast-changing world. It is self-empowerment. You do not have to be an economist to win financially. You need to thirst for knowledge and learning. Start small. Grow your money. Be vigilant and understand risks. Knowing how inflation, interest rates, market trends, or future investment decisions will affect your life will help you plan smarter. And as the annual Economic and Financial Literacy Week is observed this year, learn the basics. Live them and use them to realize your life goals.
The key to being a successful saver is to be consistent, to be focused on the goals to save, and to be thinking in the long-term. Being a smart bank saver is being a smart spender. You do not just spend money. You use it to realize your goals and shape your future.

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Philippine Deposit Insurance Corp. (PDIC)
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