Majority of Filipinas Feel Financially Insecure as Providing for Families is a Top Priority, Survey Says
As per recent survey report conducted by leading Dubai-based Filipino lifestyle magazine Illustrado, 65% of Filipina respondents feel financially insecure with 45% as the sole source of income for their families. To help Filipinas improve their personal finance management skills and improve their investment know-how Illustrado Magazine’s Women of Substance event partnered with Philippine-based Ayala Land Corporation.
According to the latest survey conducted by Illustrado among Filipinas based in the UAE, about 45% of the respondents, regardless whether they are single or married, are breadwinners to their families - meaning, they are the main source of income. Among this group, 28% send more than 50% of their monthly income to support the needs of their families and parents in the Philippines.
In total, around 65% of the respondents feel financially insecure, while 35% believe that their financial commitments stop them from pursuing their dreams, and 24% of all respondents say that it is their financial difficulties that prevent them from being happy.
Indeed, this look at Filipinas reveals that one of the causes of their neglect for their own dreams and happiness is their need to fulfill financial obligations for their parents and families.
On the plus side, 47% of the respondents say that they are saving money on a regular basis, while 28% reveal that they are already actively investing their hard earned income.
In order to help steer Filipinas to the right direction of improving their financial situation, Illustrado’s Women of Substance has partnered with the Ayala Land to provide practical information on how to manage their finances, as well as invest in property.
Ayala Land International Sales President Thomas Mirasol stated, “It is common knowledge within the Filipino community that the number one dream of Filipinos Overseas is to have their own home someday – as it provides them a sense of stability and achievement. Through this partnership with Illustrado Women of Substance, we hope not only to teach Filipinas how to invest properly and achieve that dream, but also share information on how to make smart choices with the money that they earn for a brighter future.”
Also commenting on the collaboration is Lalaine Chu-Benitez, Illustrado’s Publisher and Editor-in-Chief who said, “We have seen a dramatic number of Filipinas who sacrifice their own comfort and financial security in order to provide for their families. That’s why in this year’s of Women of Substance, we have ensured that a key message of the event would focus on alerting and encouraging Filipinas to take care of themselves, not only physically, emotionally, but also financially. Sometimes, as dutiful daughters, moms and sisters, in an attempt to manage everything else in our life, we tend to forget our own wellbeing.”
She also added, “Through our collaboration with Ayala Land, we want to lift their spirits, and give them realistic goals and handy tips on how they can grow and improve their finances.”
Money and investing will be an essential segment of the newly introduced “Day of Sisterhood” to Illustrado’s Women of Substance project. During this event an entire segment will be devoted to discussing personal finance management tips, how to invest, investment opportunities, as well as brief of the Philippine economy and real estate industry, hoping to enlighten the attendees.
The “Day of Sisterhood” is a women-only activity which will see through various concerns of the Filipinas in the UAE. Open to more than 600 guests, the “Day of Sisterhood” is scheduled a week after the annual afternoon tea gathering to be held at the Jumeirah Emirates Towers on the 30th March 2012 and attended the Filipino community’s key personalities.
For more information, please contact Illustrado at 04-3654547 / 04-3654543.
About Women of Substance
Illustrado’s Women of Substance is an advocacy in conjunction with International Women’s Day. It is a celebration of Filipina empowerment, achievement and contribution aiming to provide inspiration to boost the morale of the Filipino community, and to be a reflection of the positive and balanced international image of the Filipina. Every year, Illustrado presents Filipina honorees from the Gulf who exemplify achievement, societal contribution and exceptional character.
Illustrado is a unique lifestyle-community magazine published in Dubai devoted to uplift the morale and the image of Filipinos in the Gulf. The slogan ‘Taas Noo, Filipino’ and the vision of ‘Helping the Filipino flourish - global vision, native soul’ define the substance, style and corporate ethos that has helped Illustrado gain respect and recognition in the region as a wholesome, positive, highly engaging and richly visual medium that has accorded due respect and recognition to the Filipino community. Illustrado's distinctive approach combines premium production values with a very down-to-earth philosophy; it is not only a magazine, but is a social enterprise that speaks and aspires to enrich a very diverse range of readers, veering off the usual media fare of gossip, scandals, sensationalism and materialism.
For inquiries on the Women of Substance Event, please contact Johanna Dalocanog at +971 4 365 4543 or 365 4547.