Financial Literacy Begins at Home: Empowering Families to Bring Financial Awareness to Their Children

By Alice Eulin Meñez
June 3, 2026

It's no surprise that many cultural behaviors within Filipino families reinforce limiting beliefs and mindsets that hinder financial independence. What makes it even more difficult is the shame embedded in the culture surrounding discussions about money, making it harder for young people to grow up informed about healthy financial habits that can support them into adulthood.

On Sunday, May 17, members of Circle of Hope gathered at the Japanese Garden in Rizal Park for a financial literacy talk aimed at raising awareness about common money blocks ingrained in Filipino culture. Emmanuel Angelo Balita and Alexander Wee Gonzales, budding thought leaders from Avante Enterprises, facilitated the talk organized by Saturnia Books.

Beyond the obvious factors such as poverty and economic inequality, the Philippines continues to struggle with low financial literacy because of cultural influences, particularly traditional perspectives on money. However, the talk titled “Life in Abundance” focused specifically on the cultural money blocks that begin at home. It sought to deepen the participants’ awareness of the money beliefs they may have internalized and continue to embody, despite their counterproductive impact on their well-being.

The Power of Setting an Intention

Surrounded by trees in the serene Japanese Garden in Rizal Park, a member of Circle of Hope then led the group in what they call “Hingalangin.” Everyone sat on the benches with their eyes closed, taking slow breaths and grounding themselves in the present moment. It was a refreshing way to begin the session. It has become their tradition to begin every activity this way.

After this grounding activity, the founder of Circle of Hope, Joana Herrera, more commonly known as Doc Jabby by her community, primed the participants on what was about to take place before handing over the floor to the two speakers, Alexander Wee Gonzales and Emmanuel Balita. Alexander’s expertise is in capital markets and business, whereas Emman specializes in financial planning, given his experience in the insurance industry.

Printed worksheets developed by Emman were handed to the participants. Before continuing with the activity, three rules were set: first, to take full accountability; second, to execute what they learned right away; and third, to share the lessons with others, especially their family members.

The next part focused on clarifying the participants’ intentions for the event by removing limiting beliefs and reframing their belief systems. They were encouraged to work actively on these two things, because without intention, sustainable transformation would be difficult to achieve.

Then they were asked to think and decide on the amount of money they need to live decently per month, or their “survival number,” as well as the amount they believe they need to live beyond survival. Identifying their survival number helped them become more aware of what they need to work toward. This awareness also helped them realize that many of us are living below the quality of life we deserve.

According to Emman, this exercise was important because it helped the participants define what financial security and abundance personally meant to them, instead of relying on vague or inherited ideas about money. Moreover, hearing each other’s survival number reminded them that financial needs vary from family to family. More importantly, it helped them realize that the survival amount they initially had in mind was too low and could be higher with a better understanding of managing their finances.

Common Beliefs About Money in Filipino Culture

However, the highlight of the talk—and the part the Circle of Hope members were most engaged in—was when the speakers began discussing what Emman labeled as “Money Defaults,” or the common beliefs Filipinos tend to carry when it comes to money and finances. During the discussion, the speakers brought up several related examples. These include the following:

1. Through the years, whether consciously or not, it has sadly become common for Filipino parents to treat their children as an informal investment. Financial struggle is often expected to be shared among family members, including children. From a young age, many are exposed to the financial problems their parents face, such as debt, and are encouraged to study hard and secure stable jobs in the hope that they can one day lift their family out of poverty.

As a result, many children grow up carrying a heavy sense of responsibility into adulthood. The weight of debt and financial obligations can become so overwhelming that some eventually learn to see dreams as a luxury. The idea that “we all have a choice” begins to feel reserved only for those who can afford comfort and stability. After all, how can someone feel truly free to choose when the only options available are those tied to survival? For many, it can feel as though the game was rigged from the beginning.

So they endure. They push themselves for their parents, siblings, and relatives who depend on them, feeling they cannot afford to be weak. Perhaps you know a friend, coworker, or OFW family member who has carried the same burden, and you may have seen the psychological toll it has taken on them. Over time, some lose sight of what they genuinely want in life outside of familial expectations and obligation. In more severe cases, this pressure can contribute to anxiety, loss of identity, and other mental health struggles.

What makes this cycle even more difficult is that treating children as an informal financial investment has become normalized and passed down from one generation to another. It is honorable and loving to help your family in financial need, but it should not cost you your identity, dignity, and well-being. And it certainly should not dictate the course of your entire life.

Emman and Alex reminded participants that while it is okay to help others, they must also learn to help themselves first and ensure they are not drained in the process. Parents were also encouraged to break the cycle by no longer passing down the practice of treating children as informal investments or retirement plans.

2. In contrast to the practice of treating children as informal investments, there is also the habit of some adults treating their parents or family members like an emergency fund. Some adults develop unhealthy financial habits and learn to survive by relying on relatives they perceive as doing better financially. Each time they find themselves in a difficult situation, someone rescues them. As a result, instead of working on improving their finances, they become dependent on family support.

You may have heard stories of adult family members who constantly borrow money from siblings and even grandparents, yet rarely return it and always have an excuse for why they are short on money. Deep down, they may know they can get away with it because “it’s family.” Family forgives. Family forgets. Yet in the process, the people helping them often end up forgetting themselves. The same family members they depend on work hard day and night to provide financial help, sometimes at the expense of their own needs and desires.

Similar to the previous pattern discussed, asking for help when you are genuinely in need is not wrong. However, according to Alexander and Emman, if asking others for financial help has become a repeated pattern, it may be time to re-evaluate your finances and adjust your spending habits. On a deeper level, this pattern may also reveal blockages around money, self-worth, and self-esteem. 

3. Spending like crazy once we receive our salary is something many of us have probably experienced. The moment the salary arrives, excitement surges, and for a day or two, you feel like you’re on cloud nine, spending money as if it were water—refillable and overflowing. Then the excitement fades, and suddenly guilt or frustration creeps in because you may have spent more than you should.

So you tell yourself, “Hey, I deserve this reward for working so hard.” And honestly, you probably do. But then the cycle repeats: “I spent a little too much again. How do I scrimp on my food or transportation budget just to survive until the next payday?” Over time, the pattern becomes so normalized that it starts feeling like a permanent part of life rather than a habit that can actually be changed.

Alexander and Emman acknowledged that they themselves have gone through this cycle. To slowly wean themselves off from it, they made it a habit to set aside a portion of their income as savings the moment they got paid. The rest of their income was then used for expenses. It didn’t matter if they could only save ₱100 or ₱500. What mattered was strengthening this habit so that its positive effects would compound in the future.

4. In Filipino psychology, “Utang na Loob” is considered an essential core value. While it has no exact English translation, the closest meaning would be a “debt of gratitude.” Utang na loob is not meant to be a soulless transaction. Rather, it reflects the spirit of pakikipagkapwa among Filipinos—the idea that we care for one another beyond ourselves, that we have malasakit for other people. From this perspective, utang na loob is rooted in compassion and community.

Unfortunately, over the years, utang na loob has also developed a negative reputation. Its true meaning has often been distorted and, at times, weaponized by Filipinos against their fellow Filipinos.

In the context of cultural money blocks, some families use utang na loob to shame relatives who refuse to lend money or decline financial support, even when their reasons are valid. This creates pressure and guilt among family members. To save face and avoid being labeled as someone who is “walang utang na loob,” many end up giving in to the requests and demands of their relatives despite the emotional or financial strain it may cause.

Like any value, utang na loob can be used for good, but it can also be used for exploitative purposes. This is one of the reasons why Emman and Alexander are passionate about promoting financial literacy, as it helps fellow Filipinos learn how to protect themselves when utang na loob is used as a tool for financial manipulation.

The examples discussed were deeply relatable scenarios that many Filipinos have either personally experienced or witnessed firsthand. Both speakers and participants eagerly shared stories about how these beliefs had affected them and the people around them. 

After discussing these common cultural money blocks, Emman proposed a practical solution that the participants could immediately apply in their own lives. He advised that money should be allocated into five different categories: daily needs, personal enrichment, investments, wants, and helping others.

Our Impact on the Circle of Hope Community

The talk deeply resonated with the Circle of Hope Community, inspiring the members to cultivate healthier financial habits and perspectives that they could one day pass on to their children. The session also encouraged them to release the shame often associated with discussing money and to recognize the importance of becoming financially informed and aware.

When the speakers discussed the cultural money blocks, the group became more energized and actively engaged in the conversation, openly sharing their own experiences and perspectives. 

Given that money is often considered an uncomfortable or even taboo topic in Filipino culture, it was meaningful to see them have a safe space where they could openly talk about their experiences with cultural money blocks. Through the discussion, the participants became more aware of how these beliefs and practices are passed down from one generation to another. This awareness can help parents become more mindful about not passing these unhealthy financial mindsets on to their children.

Aside from gaining awareness about limiting beliefs surrounding money and how culture shapes financial perspectives, they also realized that awareness alone is not enough. In order to create meaningful change, they must set clear goals and take practical steps, such as properly allocating their budget.

They also felt encouraged to allocate their money more intentionally by dividing it into different “jars” based on where it should be spent. This enables them to be more mindful of balancing their needs, wants, savings, investments, personal growth, and support for others.

Overall, the talk was impactful in encouraging parents to outgrow their money blocks and help their children develop a healthier and more informed perspective on money—something that would provide them with a solid financial foundation as they become adults.

How You Can Support Our Cause

This event was truly memorable for all of us. We would like to thank Doc Jabby for allowing us to be part of the Circle of Hope Community. We are also grateful to our speakers from Avante Enterprises for generously sharing their knowledge and insights on financial literacy and to all the participants for being so engaged, open, and welcoming throughout the session.

If you want to learn how to support the Circle of Hope Community and contribute to the cause, you can do so through the link below: 

https://circleofhopecommunity.com/