By Age of 30, Filipino's Should Know These

From: 30 Financial Knowledge Pinoys Should Know By Age 30

1. A man or woman can make it on his/her own financially, even if he/she doesn’t have to. 
2. You need to keep your finger on your finances, even if you have a significant other who handles them. – Tama. You don’t have to fully rely on your partner for what ever reason. 

1. How you can deal with a personal financial crisis, like suddenly losing your job. –You must have an emergency fund. 
2. How to make a budget and how to stick to it. 
3. How to set up an emergency fund and how to keep it full. – 3 to 6 months of your monthly expenses or salary. 
4. How to read a bank statement and how to complain when something on it is wrong. 
5. How long it will take you to pay down any credit cards you have paying only the minimum balance. – Don’t ever just pay only the minimum balance. 
6. How to get your taxes done every year without going crazy. – I’m not sure if many Filipinos knows this. If I didn’t go self-employed, I wouldn’t have any idea. 
7. How to establish credit in your own name, even if you also share credit cards with a spouse. 
8. How much risk you’re prepared to tolerate in terms of investments. – Talk about stocks and mutual fund investments 
9. That you’re going to need money for retirement at some point and you’ll need strategies to save for it. – There’s no such thing as ‘too early’ in preparation. The earliest, the best. Prepare now. 
10. How you’re going to make up for any time you spend out of the work force, at least in terms of retirement. 
11. How much having a family costs, even if kids aren’t in the cards. 
12. What legal protections are out there specifically for women, like whether your state has laws guaranteeing you maternity leave. 
13. How to negotiate a raise, even if it feels like you shouldn’t ask for more money. 
14. How to leave a job you hate, preferably with another one lined up. 
15. How to get a copy of your credit report and how to dispute incorrect information on it. – We only have credit cards here. 
16. What cosigning a loan means – and when to refuse to do it. – Don’t ever do that. It’s very risky. 
17. What the pros and cons of owning a house versus renting an apartment. – Most Pinoys prefer building or buying a house rather than renting. 
18. What are your parents’ retirement plans are and whether you’re going to need to help them. – Most Pinoy’s parents don’t have one. Lucky if your parents have some sort of retirement plan especially in the provinces. 
19. Who is responsible for you and your finances if something makes you incapable of taking care of yourself. 
20. How to reach a lawyer, an accountant and an insurance agent, even if you don’t routinely need their help. – In the Philippines, pinagtataguan ang mga insurance agent, hehe. 
21. How to negotiate a big purchase (like a car or a house), even when the other side underestimates you. 
22. How to sell something you don’t need any longer. 
23. What it would take for you to start your own business, even if you’re not ready to make the leap. 
24. What are your options for health insurance are and how to make the most of them, even when they’re bad. – Most Pinoy only have health insurance provided by the company. 
25. Where to get financial information and advice that you trust. - Very hard to find. When you find them, treasure them. 
26. What your financial priorities are and what’s the next step you need to take to reach them. 
27. How much are the prevailing rates of interests in the banks – This one I just added.