Women with fiscal freedom now need financial literacy

TAGBILARAN CITY, Bohol, March 13, (PIA)—For two of Bohol’s leading women entrepreneur models, so much has been achieved in making women gain financial independence, but both agree there is a need to address another ensuing issue to actualize women empowerment.

Speaking during the Kapihan sa PIA on Women’s Month, Tubigon Loomweavers’ Multi-Purpose Cooperative manager Ma. Trina Sumayang and The Boholana Essentials owner and proprietor Junalyn Alivio agree that if there is something empowered women of today needs, it is financial literacy.

In the past years, women leaders have identified women’s financial dependence on their husbands have blocked them from actualizing the freedom of a woman.

The recent years have also brought the advocacy on women empowerment leading to more women batting for jobs that make them independent from the strains when husbands do not give them money.

But, apparently, having the spending capacity as pay for the work rendered in women-allotted positions is no assurance of being truly empowered, says Alivio.

Financial management, and issues of husbands not being supportive of the wife, but it is more of how to handle money, Alivio, who used to be an online worker turned start-up entrepreneur into providing women with earth-friendly solution to their body needs.

Alivio’s statement also rings true to Sumayang, who had to act on the daily onslaught of lending representatives on their daily collection sorties.

I used to have weavers who line up for cash advance immediately after payday, so I decided this has to stop, Sumayang, who has pushed the loom weaving industry in Tubigon to meet the production goal of over a million orders a month, said.

The problem gets women in exactly the same problem because they end up not having anything anymore at the end of the month.

On this, The Boholana Essentials proprietor and self-confessed environmental advocate Alivio shares the ideal: “put aside something for emergency and a savings fund of at least 5 to 10 percent,” she urged.

Starting out small with some 15 bars of soap and shampoo from herb extracts and natural oils, Alivio whose start-up company now produces about 300-500 soap bars had one things of the women in this dire situation: Prioritize needs over wants.

Working however with a full staff of one, Alivio hinted the facility for her to goad her worker to start a good savings plan.

The case is much more different to Sumayang who keeps 150 weavers under her supervision.

For some time, we used to have a steady stream of people from lending institutions collecting the payments. Just how much money would they be taking home if this continues, Sumayang, who finished a Mass Communications Course asked.  

She said she met her angels and agreed that there will be no more cash advances, and also told them the bad thing about using the services of lending companies.

While things have changed now, both women also admit that financial consciousness could be tough to instill in a culture so intent on lavish spending, but, there will always be a way, they said. (rahchiu/PIA-7/Bohol) 

INSTILLING FISCAL DISCPLINE. Women entrepreneurs: The Boholana Essentials proprietor Junalyn Alivio and Tubigon Loomweavers’ MPC manager Ma. Trina Sumayang both said they have already seen a bit of financial independence in women, but both also pointed out the need for financial literacy amidst compulsive buying in Boholano women with their newly attained spending power. (rahchiu/PIA-7/Bohol)