Money, Work & Family: A Recount of the Filipino’s Way of Doing the Balancing Act

We Filipinos are known for our close family ties. And the statement that best speaks about how we make sense of these three words – money, family, work – usually goes like this:

We work to earn money for our family.

This is also one of the reasons why year-end parties, extended leaves and salary loan for employees in the company are the perks we usually look for when searching for a job. We just need to spend more time with our family or earn more to sustain a good lifestyle for them.

Juggling Family and Work

Taking care of our family members, even those extended ones (e.g., daughters, brothers and sisters in law), is an ingrained culture here in the Philippines. For instance, it’s not unusual to hear colleagues at work talking about how they’ve spent time watching over their grandparents or sisters-in-law who’ve just admitted to the hospital. Many also take time to spend their vacation with their in-law’s relatives.

Aligning Work and Family

At some points, we take it into our hands to support our relatives financially. Now this is where the situation can get complicated as many of us also feel compelled to take the responsibility of providing for our loved ones when emergencies happen. When someone got hospitalized, in need of money for enrollment or have gotten short on cash for the utility bills, we won’t hesitate to cash out even a little money to help our relatives out.

Good thing many employers today offer salary loan for employees in the company.  We can borrow money and pay it conveniently via auto-deducting the repayments from our payroll ATM account.

Companies also need not worry about having deficits in their books due to salary loans. That’s because they can partner with banks to get money for an employee’s loan. In short, the money they’ll loan to employees need not come from their own revenue.

Top Providers of Salary Loan

Business owners need only to partner with one of these leading commercial banks to secure fast cash solution for their employees:

  1. Bank of the Philippine Islands
  2. Security Bank
  3. Banco de Oro
  4. Asia United Bank
  5. Maybank
  6. Citibank
  7. Sterling Bank of Asia

How Loansolutions PH Can Help

Your employer may have partnered with multiple banks to ensure you can access quick cash when you need it. However, it’s your responsibility as a borrower to know the best loan offer on the market. This is to avoid going in debt with unmanageable interest rate cost and other charges. That’s where our financial consultants here at Loansolutions PH can help. Just visit our site, loansolutions.ph, to browse guides, comparison charts, product reviews and other useful information that will help you decide which loan offer to take.

Written by Jefanie Genilla

Jef is a storyteller, educator and digital marketing enthusiast and she travels for self-discovery, fun and community service. She writes for Loansolutions as part of her financial literacy advocacy. Jef strongly believes that it’s not necessary to be rich to travel. One just needs to manage time and money the right way and make informed financial decisions.