Interview with Marie Rose Mutia
As a Financial Advocate
1. What convinced you to join the It’s Time advocacy?
When I learned about It’s Time, I never doubted to join the advocacy because I’ve seen and felt the effects of taking time for granted in terms of financial planning. I wanted to be part of this advocacy not just for myself but also for the people I care about the most — my family and friends, and perhaps, others who also want to achieve financial independence.
2. How do you fit in the role of a Financial Advocate?
I have been doing a lot of adjustments in terms of spending wisely, saving appropriately and investing little by little. I want people to know that I am a good example of what a financial advocate must be. I had a difficult time starting on it, but now, I believe I’m on the right track in handling my finances.
3. When did you start planning for your financial future?
I seriously started planning for my financial future when I got married because when I was still single, I really didn’t mind spending all my salary for shopping, travel, and other unnecessary stuff. My husband didn’t have a permanent job so I really have to keep a portion of what we earn from our buy and sell business. My salary as a university employee was just enough for our basic needs. I realized that it pays more to start financial planning as early as possible.
4. Who or what made you realize the need for financial planning?
It was our family’s financial situation that made me realize the need for financial planning. I am an only child and my father died when I was only 10 years old, leaving me and my mother in financial turmoil. With a small beauty parlor as our sole source of livelihood, it was really difficult to enjoy life to the fullest. So, I studied hard and made sure that I’ll land a job so I could save and put up my own business. I now provide for my mom’s needs and hopefully, with my husband helping me get by, we’ll be able to change our way of life for the better.
5. What are your financial goals? How close are you to achieving such plans?
My financial goal, at this point, is to be able to invest in a small food business to be run by our family. I’ve set aside some funds already and hopefully, with the right timing and business plan, my husband and I will start our dream business in 2- 3 years time, or perhaps, sooner.
6. How can It’s Time help people in their financial needs?
It’s really a big help if only people will look at it as a wake-up call. Not too many people realize they need financial planning until they reach a certain age that it’s no longer as easy and as doable. This advocacy will truly make a lot of Filipinos change their mindset about financial planning and investing properly.
7. Why is there an urgency to plan for one’s finances?
Planning for one’s finances is an urgent thing and it’s not something anyone should overlook or delay. For one, life is unpredictable. We’ll never know what will happen tomorrow or even right after we take lunch at a favorite fastfood nearby. It’s better to be prepared, financially, at all times. If there’s something we should fear about, it is fear itself. So better start planning our finances just in case we get sick, we get disabled because of accident, or worst—we die. Some people don’t want to talk about dying but, if you really love your family, you’ll prioritize protecting them and yourself.
8. What was that particular life experience that made you take action to plan for your future?
I had an accident in 2001 which made me realize how stupid I was for not signing my first life insurance policy with Sun Life months before the accident despite the constant visits of my agent at that time. I could’ve died and left my mother in a more tragic situation because I had debts, unsettled loans, etc. It was really my wake-up call and I immediately got myself protected after I recuperated. Now, I keep sharing my story to friends and acquaintances and somehow, I’m able to enlighten them about the importance of planning for one’s future. Accidents could happen any time.
9. What do you think is the mindset of Filipinos when it comes to their finances?
A lot of Filipinos believe that the best place to put their savings is in banks. I also thought I should put my money in the bank for safekeeping until I began comparing interest rates and did some calculations. The Filipino mindset about finances is generally ridiculous. I guess it’s because most of us were brought up thinking that striving hard in school would result to employment and then later on a source of income for spending without any certain financial planning. I hope for a better Philippines in the near future by educating the Filipino people that financial literacy is as important as all other priorities.
10. What are the positive and negative attitudes of Filipinos when it comes to handling money?
Filipinos are generally hard working. We work hard to be able to support our families; provide for our parents’ medicines, tuition for the children, household expenses, food, shelter, clothing, etc. But, the problem is, most Filipinos spend their salaries the moment it’s already available in their ATMs without putting aside a certain percentage for savings or investment. I also noticed that Filipinos are extravagant in terms of handling money especially OFWs and their families which indicates poor financial literacy.
11. What is the most useful financial advice given to you?
I learned a lot from the books I read about financial planning. And one of the best advices I got so far is to put a little aside each time wherein money will grow eventually without too much effort—letting money work for us instead of working hard to earn money.
12. What is the greatest financial advice you can impart?
I would like to impart what I learned from my own experiences. It’s a must to prepare for the worst things that can happen in our life. It’s not just enough to wait for our payroll and spend without saving and investing. We should also educate ourselves in terms of handling our finances appropriately.
As a SLF Agent
1. Please tell us why you decided to become a career agent.
I decided to become a career agent because I wanted to share what I believe is the best thing I did 9 years ago. I got myself protected with a traditional insurance and I set aside a portion of what I earn so I could enjoy my retirement. I want to let my family members and close friends to appreciate the value of insurance because I believe that it’s the only way we could let our love ones continue living a good life even after we’re gone.
2. What are the most common difficulties you encounter in your job?
My biggest challenge in this job is when people would say they don’t believe in insurance or they would rather invest their money in real estate than putting their money to any insurance company.
3. How do you overcome these difficulties?
I present to them Sun Life’s company background and track record, and then I let them browse the company’s website and even ask them to research about the company, our advocacy and the quality of our service. I also probe what makes the client skeptical about insurance and somehow skew his/her mindset by giving a clear concept of our advocacy.
4. What are the most satisfying/rewarding experiences you ever had in doing your job?
When my clients tell me that they appreciate the concept and they acknowledge the importance of what I just shared with them. I feel it’s more than rewarding to know that my client appreciates his/her life more and that he/she wants to start preparing for the future—because of LOVE for family.
5. How do you convince clients to plan for their future?
I practically don’t believe in hard selling. I want my client to decide for himself that he really needs to plan for his future because he understood the concept. I share to them my personal stories and then let them tell their own stories which usually leads to convincing them that they do need some financial planning.
6. What are your future career plans?
As a SLF rookie agent, I want to learn more about my craft and be an effective ambassadress of It’s Time advocacy. I plan to improve my skills through constant training and field exposure (client meetings).
7. How do you cope with the current financial crisis?
The current financial crisis is affecting all of us. I personally believe that we can overcome it by changing our lifestyle. My husband and I used to watch movies at cinemas and dine at restaurants. Now we spend more time enjoying the same stuff at the comfort of our own home.
8. How do you convince clients to save/invest even during these times?
I let them picture themselves in the next couple of years as to what difference will it be in terms of their finances if they decide not to start saving or investing today. I let them appreciate the art of delaying gratification. By sacrificing a little today, they would reap the fruits of that sacrifice in the future.
9. What do you usually tell your clients during these times?
I just present to them the concept and most of the time they appreciate it. I also tell them that it’s always better to start immediately than delay because life is unpredictable.
10. How can you best describe your profession?
This profession is as noble as the other professions. It is very challenging and fulfilling at the same time.
11. What advice can you give for someone who also wants to be a career agent?
For someone who wants to be a career agent, I would advise them to work hard and think of this job as an advocacy so that people will understand the importance of planning for the future and becoming financially independent. It is also a must to be constantly updated. Compensation will just follow—just go out and see people.
As an Individual
1. How do you relax?
I read a book, watch a feel-good movie, or go to the spa for a relaxing massage.
2. What is your guiding principle in life?
Basically, I just maintain balance in my life. I make sure that I don’t step on other people’s foot and that I’m doing the right things. I also apply the golden rule “Do unto others what you want others do unto you.”
3. Tell us more about your family. Have you also instilled in them the discipline of planning for their future? How?
My family now understands that it is really important to plan for the future. We talk and discuss about financial planning over dinner or whenever we get the chance to. I believe I have instilled in them the value of discipline and delaying gratification. For me and my husband, we no longer spend too much if we go to the mall. We don’t shop for expensive clothes, we look for bargains. My nephews and nieces also learn to save from their daily “baon” and put it in piggy banks.
Heeding the Wake-Up Calls
