Tips for Tackling the Financial Responsibilities of Adulthood

Wazzup Pilipinas!?




As we usher into adulthood, the complexities of financial management can become overwhelming. There are various factors to consider, from budgeting, saving up for retirement, investments, purchasing a house, and even the idea of figuring out how to get a new car. However, understanding these aspects is imperative to secure a financially prosperous future. In this article, we break down these aspects and offer you tips to navigate the tricky waters of financial responsibilities.

 

Understanding Financial Responsibilities

Becoming financially responsible starts with understanding your income, expenditures, and financial obligations. You need to realize the impact of your financial decisions on your overall financial health. This includes being aware of how you use your credit card, the amount of debt you are accumulating, and how you are balancing savings and expenditures.

Moreover, understanding various terms and financial jargon is another aspect. For instance, you may need to know what is a chattel mortgage car to make an informed decision about your vehicle finance. One of the biggest advantages of a chattel mortgage car is the flexibility it offers when it comes to repayment terms. Unlike other traditional car loans, a chattel mortgage allows borrowers to set the loan repayment period based on their financial capabilities. This means that you can choose a shorter loan term, which can help you pay off the loan faster and save on interest charges.

Another important part of being financially responsible involves planning for unforeseen circumstances. This involves having insurance, an emergency fund, estate planning, and much more. It's also always your responsibility to learn and adapt to new situations. The financial world is constantly evolving, and staying informed can help you take advantage of opportunities and avoid potential pitfalls.

 

Importance of Setting Up a Personal Budget


A well-planned personal budget is essential in ensuring you live within your means. It serves as a financial guide, helping you allocate your income towards expenditures, savings, and debt repayment. That's why it's always recommended to utilize financial planning services for expert guidance. They can create a plan that takes into account your income, expenses, and financial goals, and enables you to develop a roadmap to achieve them. By analyzing your current financial situation, these experts can identify areas where you may be overspending or missing out on potential savings opportunities

The perks of setting a budget is that it helps you see where your money is going, a major factor in understanding your spending habits and making adjustments. A budget can assist you in locating unnecessary expenses and finding ways to cut back. The money saved can be channeled towards investments or paying off debts faster. A budget also instills a sense of financial discipline, making you less prone to impulse buying and uncontrolled spending. As you progress, your budget should evolve to reflect changes in your financial situation.

 

Navigating the Housing Market

Buying a house can be an overwhelming process with its own challenges. However, homeownership is a step towards financial independence. You must factor in the ongoing repayments, annual maintenance costs, and other underlying costs related to homeownership in your budget. Before you buy, you need to do comprehensive research starting from identifying what you can afford, the type of house you want, its location, and potential growth in property value. Additionally, understanding different financing options is vital. You should consider factors such as the mortgage rate, contract duration, and the flexibility of payments, among other things.

 

Planning for Retirement at an Early Age

While retirement may seem a long way off, the early stages of your working life are the best time to start planning for it. The power of compound interest means the earlier you start saving, the easier it is to accumulate a substantial retirement nest egg. Retirement planning is all about envisioning the kind of life you want to live post-retirement and calculating the funds you'll need to maintain that lifestyle.

Savings and pensions are not the only methods to secure your retirement. You can make smart investments in real estate, mutual funds, or stocks to create multiple income streams for your golden years. Adequate planning comes with immense peace of mind and the confidence that you are prepared for any financial challenges that might come your way.

As this article illustrates, handling financial responsibilities might seem daunting in the beginning, but with an understanding of the basics and a solid plan, you can navigate this successfully. Remember, it's your money, and taking charge of it will set the stage for a more secure and fulfilling financial future. Follow our advice and you'll be able to prepare yourself for the financial responsibilities and realities of adulthood.

Google, TikTok, Meta Unite with DICT, Digital Pilipinas for Better Cybersecurity

Wazzup Pilipinas!?

As online Scams, cybercrimes Triple in 2023


Google's Atty. Yves Gonzalez (Government Affairs and Public Policy, Southeast Asia), Meta's Country Head of Public Policy for PH and TH Clare Amador, and TikTok's Head of Public Policy for PH & MY Toff Rada signed a commitment agenda with the Department of Information and Communications Technology (DICT), led by Secretary Ivan Uy and its Cybersecurity Bureau, headed by Undersecretary Jeffrey Dy, and Digital Pilipinas, led by Amor Maclang, Convenor of Digital Pilipinas & Digital Pilipinas Festival to combat cybercrime in the social media of the Philippines and globally during the October 23rd program of the Philippine Cybersecurity Month 2023.

The Department of Information and Communications Technology (DICT) gained the commitment of the biggest social media platforms - Google, YouTube, TikTok, and Meta - in its intensified cybersecurity efforts as online scams and other cybercrimes tripled from January to June 2023.

As DICT nears the home stretch of Cybersecurity Month 2023, Sec. Ivan John E. Uy highlighted what is perhaps the biggest potential collective vulnerability for Filipinos online, and the aspect of life online that they need to be most security-conscious about, social media.

Cybersecurity Month 2023 was organized by DICT in partnership with Digital Pilipinas, now the largest private sector led movement for creating an innovation and technology ecosystem in the country that is actively engaged in a global digital economy through its domestic and international trajectories.

As reported[1] by the Cybercrime Investigation and Coordinating Center (CICC) under the Office of the President, the total number of online scams – such as those that happen across social media – went up to nearly triple what it was in the same period of 2022, in the first half of 2023, reaching 4,446 reported cases. So, the question then arises, how exactly are all these new attacks happening? And if it is through the use of various online and social media platforms, how can the situation be rectified?

In a move to affirm the national government's commitment to lead the country to digital transformation through cybersecurity, the DICT hosted the Social Media Commitment Event, to which social media companies, government agency officials, and private sector representatives declared their commitment to support the DICT push on intensified cybersecurity.

Social media comprises one of the key pillars of digital transformation, especially given the fact that more than 70% of Filipinos[2] are active on various social media platforms, directly contributing to the potential pool of victims of online scams.

"Cybersecurity has become a deep concern for everyone, and the reason for this is the rapid move from brick-and-mortar to digital landscapes. The scale, speed, and level of penetration of digitalization in our everyday lives is unprecedented," said Sec. Uy. He added that the economic presence of ASEAN through e-commerce presents a very attractive pie for cybercriminals and cyber threat actors.

Sec. Uy continued, “It becomes vital for us to all be concerned and to address that concern by coming together, working together, collaborating, and sharing what resources we have from different sectors in order to help protect our consumers and citizens in this area.”

DICT Undersecretary for Connectivity, Cybersecurity, and Upskilling, Jeffrey Ian C. Dy highlighted the campaign, "Sama-sama para sa Cyberseguridad” which, he said, encapsulates the essence of unity and shared responsibility in protecting our digital realm, as we work collectively towards a digitally safe Philippines.

“Today, as we sign this commitment,” Dy continued, “the DICT and its esteemed social media partners are coming together to share knowledge, insights, and technology in our pursuit of cybersecurity."

The program culminated in one big commitment signing event which, according to DICT Sec. Uy, is quite unprecedented. The first part of the signing featured all the top social media giants including ByteDance, the parent company of TikTok, Meta Platforms, the parent company of Facebook, and Google, representing both Google and YouTube. The second part involved representatives from the private sector, government sector officials, and key representatives from foreign embassies.


[1] Cybercrimes in Metro Manila up 152% in 1st half of 2023 — CICC https://newsinfo.inquirer.net/1798786/cybercrimes-in-ncr-rose-by-152-in-1st-half-of-2023-vs-same-period-in-2022-cicc

2 Social Media Statistics in the Philippines [Updated 2023] https://www.meltwater.com/en/blog/social-media-statistics-philippines


The gathering also featured an insightful fireside chat Usec. Jeff Dy and Digital Pilipinas Convenor Amor Maclang. During the session, Usec. Dy stated that the DICT's top three cybersecurity priorities - digital access, digital literacy, and security - each go hand in hand. "While the impact and reach of connectivity and e-governance grows, so does the need for greater digital literacy," Uy explained. "And as more and more people become connected, there comes a need for even greater security."

“When it comes to cybersecurity, our work in the financial sector has taught us that fintech, specifically, has the most vulnerabilities come into play. However, the financial services sector also has the most organized guidelines for cybersecurity,” said Maclang. “These guidelines serve as a model for other sectors, such as smart communities and health, which also need clear and concise cybersecurity guidelines.”

John Garrity, Chief of Party, USAID/Philippines Better Access and Connectivity (BEACON) Activity, said in a statement, “Social media is key to promoting cybersecurity awareness and education to individuals. It has a unique function and allows us to translate technical cybersecurity terms and language into layman's language, making basic cyber hygiene easy to understand.”

Garrity also opened up on the subject of USAID's efforts to support the government's initiatives, particularly to address the lack of cybersecurity professionals in the country. "At USAID, we are working with the Philippine government, particularly the Department of Information and Communications Technology (DICT), to provide cybersecurity training to organizations and individuals," he said. "We are here to help DICT and other government agencies execute on their mission to train more Filipinos on cybersecurity hygiene and training, whatever DICT needs."

Gonz Gonzales, President of Cloud Security Alliance, agreed, saying: “Social media provides this platform for engagement, especially with the younger generation, and it reaches a wide audience. So with that, it's a very good channel or medium to reach out to more people and then engage with them and then teach them how to do better. Cyber security and data privacy practices.”

Patrick Signo, Country Manager at Materia Logic, also believes in the vital role that social media can play. “Social media is a great way to educate people about cybersecurity. It's a hot topic with a lot of available information, but many people forget that cybersecurity plays an important role in both personal and professional life,” he said. “On any social media platform, it's important to educate users about the implications of cybersecurity, even the negative ones. Overall, social media is poised to be the next big thing for people to learn about technology.”

Sam Jacoba, Founding President, NADPOP and PH Cert VP, gave a slightly more nuanced take. “We need to consider three factors when talking about how social media can influence cybersecurity awareness: consumers, influencers or content creators, and platforms themselves,” he said. “If we consume content on social media, it is one of the best ways to reach consumers, specifically on Facebook and TikTok. However, we need to customize the messaging. We need to configure cybersecurity messaging with what consumers need at the right time and on the right platform.”

Stephanie Tower, Business Development Lead at nChain, who moderated the discussion said that it is the responsibility of parents to talk about and educate their children on cybersecurity.

"In order for us to bring innovation in whatever aspect, be it digitalization, e-governance or cyber security, we really have to educate from the top level down to the grassroots,” she adds.

The DICT and Digital Pilipinas intend for the commitment event to represent a huge step forward in the ongoing efforts to fortify the country's digital defenses and enhance the nation's overall cybersecurity posture. Bringing together key stakeholders from the government, private sector, and the top social media platforms is representative of the whole-of-nation and whole-of-business approach that is necessary to resolve the most pressing cybersecurity concerns. This event is a precursor to the upcoming Digital Pilipinas Festival x Philippine FinTech Festival happening on November 20-24, 2023, at the SMX Aura Convention Center, Taguig City, and in various co-located venues and innovation hubs across the country. Secure your slots for the event by registering through the official link: https://digitalpilipinas.ph.



ABOUT DIGITAL PILIPINAS

Digital Pilipinas is now the largest private sector-led movement for creating an innovation and technology ecosystem in the country that is actively engaged in a global digital economy through its domestic and international trajectories.

Dulaang Unibersidad ng Pilipinas launches its 46th Season: Sidhi’t Silakbo Written by: Marc Stanley Mozo, Holden Kenneth Alcazaren

Wazzup Pilipinas!?

“What does it mean to be a woman in our world today?”

Dulaang Unibersidad ng Pilipinas (Dulaang UP) celebrates women in its 46th Season to be launched this November 23, 2023. The season titled “SIDHI’T SILAKBO” launches itself through a double-feature production of female narratives performed in monologues and masterclasses given by trailblazers in the practice of Philippine theatre.

SIDHI: This season launches DUP Studio, the company’s newest initiative in the realm of Philippine theatre education. Dulaang UP Alumna, FAMAS Best Supporting Actress, and internationally acclaimed actress Dolly De Leon (BAFTA, Golden Globes, Los Angeles Film Critics nominations) will mentor a new breed of theatre talents in its first ever master class to be opened to the public titled, “Auditioning for a Role and Landing It”. As one of DUP’s burgeoning flagship projects, DUP Studio seeks to provide an avenue for theatre veterans and industry novices to learn from one another.

SILAKBO: DUP Artistic Director Issa Manalo Lopez and Virgin Labfest Festival Co-Director Tess Jamias will direct the production of “SIDHI’T SILAKBO” with five female actors: Shamaine Buencamino, Uzziel Delamide, Chic San Agustin, Wenah Nagales, and Adrienne Vergara in a collection of all-female monologues reimagined by the ensemble and writer Maynard Manansala from classical works in the theatre. The production is a weaving of women’s stories through spaces where women confront their realities, and assert their choices of what is true, what is right, and what makes them happy.

Dulaang UP will then open the following year with the re-run of the female-led “Kung Paano Nanalo Sa Karera Si Rosang Taba” in April 2024. To end the season strong, one of the season’s highlights is Dulaang UP’s collaboration with the International Federation for Theatre Research (IFTR) and Kolab Co. in July 2024 for a twin-billed staging of Layeta Bucoy’s “Ellas Inocentes” to be directed by Issa Manalo Lopez and Eljay Castro Deldoc’s “Walang Bago sa Dulang Ito” to be directed by Tess Jamias and Herbie Go.

Sidhi’t Silakbo launches DUP’s 46th Season by using performance as a response to issues of women representation. To Artistic Director Lopez, Sidhi’t Silakbo (title of both the season and its all-female season opener) is a celebration of the authenticity and validity of varying female realities: 

“It is an awakening, a breaking of the cycle, breaking stereotypes, of women liberating themselves through a series of performances of freedom, fury, wit, rage, love and ruin. All fueled by their own ferocity and frenzy.” The season honors the ‘female phase’ of theater, with a greater commitment to repositioning Dulaang UP as a safe and open creative space through greater decentralization and collaboration. These are the show dates of the Sidhi’t Silakbo production to be staged at the newly-furnished IBG-KAL Theatre:

Nov. 23, 24, 25 (7:30 pm)

Nov. 26 (2:30 pm & 7:30 pm)

Nov. 29, 30, Dec. 01 (7:30 pm)

Dec. 02, 03 (2:30 pm & 7:30 pm)

The DUP Studio masterclass with Dolly de Leon will also be held at the IBG-KAL Theatre on 25 November 2023 from 2:00 PM to 5:00 PM.

The ticket prices for these events are as follows:

SIDHI’T SILAKBO Production: Php 1,300 (regular rate), Php 650 (discounted rate for UP students) | “AUDITIONING FOR A ROLE AND LANDING IT” DUP Studio with Dolly de Leon: Php 1,200 for sit-in participants, Php 5,000 for mentored participants.Dulaang Unibersidad ng Pilipinas has long been at the forefront of producing premiere theatre productions since it was established in 1976 by National Artist for Theatre Tony Mabesa. In its second season since the end of the pandemic, Dulaang UP continues to welcome back students, educators, and enthusiasts to the stage, where greater representation never fails to matter.

For inquiries and further information, contact or email dulaangup.upd@up.edu.ph. Sponsorship concerns such as showbuying, audience sponsorship, and bulk tickets may be addressed to Kate Dayag-Nonay at dulaangup.upd@up.edu.ph.

*with contributions from Issa Manalo Lopez, Tess Jamias, Olive Nieto, Jonas Gabriel Garcia, Rodney Barnes, and Davidson Oliveros