SAVING money is a discipline.
This was the realization of Irene Campanero, principal of Maydolong National High School in Eastern Samar.
“We realized that self-discipline is the key to be financially secured, especially when we hit our prime years,” she said.
Campanero was one of the educators who were taught about the importance of saving money through City Savings Bank’s (CitySavings) corporate social responsibility program Peraparasyon, a portmanteau of Tagalog words pera (money) and preparasayon (preparation).
Peraparasyon is the bank’s instrument in strengthening its advocacy on practical wealth management for educators and non-teaching personnel nationwide.
CitySavings holds Peraparasyon sessions in various schools to teach educators simple steps on saving, building an investment and managing debt for their financial wellness.
In 2019 alone, the bank conducted over 480 sessions to more than 31,600 educators.
Rose Abao of Alegria National High School in Surigao del Norte thanked CitySavings for conducting Peraparasyon sessions.
“It is a big help for us to start building our savings by prioritizing our needs before our wants. Our expenses should not also exceed our income so we could not be buried in debt,” she said.
Abao further said: “Simple tips like going to the grocery with a shopping list or cooking your own meals makes a difference. May CitySavings continue to share these practical wealth management tips for everyone’s benefit.”
For her part, Suzanne Capuz of Labnig National High School in Malinao, Albay said Peraparasyon reminded her to secure herself and her family’s future by being financially healthy.
“I learned that spending less doesn’t mean living a less quality of life. I commend CitySavings for its advocacy,” she said.
Peraparasyon contributes to the education aspect of the bank’s sustainable development goals, specifically in increasing the number of people with relevant skills for financial success.
CitySavings continues to make banking simple, straightforward and more accessible to bring greater financial inclusion to more Filipinos.
CitySavings is the thrift bank subsidiary of Union Bank of the Philippines (UnionBank) and a member of the Aboitiz Group. It is one of the largest thrift banks in the country that provides a range of mass market finance products and services such as salary loans to public and private school teachers, pension loans to Government Service Insurance System and Social Security System pensioners, Overseas Filipino Workers loans, seafarer loans, motorcycle loans, and traditional deposit products. The bank now has more than 100 branches nationwide. S