Filipinos find new significance in gift-giving amid inflation challenges: Tala

Tala Empowers OFWs and Their Families with Financial Tools for Smarter Decisions

The cost of living has risen dramatically across the globe, causing concern for Overseas Filipino Workers (OFWs) who provide for their families in the Philippines. Inflation and remittance fees have decreased the purchasing power of the money sent home, leaving OFWs and their families to carefully manage their finances to make ends meet.

Tala, a leading digital financial platform, recognizes the evolving financial needs and aspirations of OFWs who send substantial remittances back home. In response, Tala is providing tips for responsible spending this Christmas season to assist OFWs and their families in making the most of their hard-earned money.

Financial Planning

Tala’s tips for financial planning include budgeting realistically for the holiday season, setting specific spending limits for categories such as gifts and decorations, and adjusting the budget as needed using Tala’s free budget tracker.

Quality Time vs. Gifts

Tala encourages prioritizing quality time and shared experiences over material gifts during the holiday season. Suggestions include scheduling regular virtual gatherings, creating personalized recordings for family and friends abroad, and participating in free community events like Christmas light shows and Simbang Gabi.

Thoughtful Gifting

Tala highlights the sentiment behind thoughtful, budget-friendly gifts that prioritize the thought and love behind the exchange rather than the price tag. Tips include considering personalized gifts for immediate family members, being cautious of impulsive purchases during sales, pooling funds with loved ones for meaningful gifts, embracing sustainability through re-gifting and eco-friendly wrapping, and contributing to family members’ savings or bills through Tala’s e-Wallet.

According to Iona Iñigo-Mayo, Director for Global Customer Experience Operations at Tala Philippines, OFWs are of great importance to Tala, stating, “OFWs and their families hold a special place in our hearts at Tala. With our commitments to financial literacy and responsible lending to our fellow Filipinos, we aim to ensure that every peso contributes to a brighter and more secure future for everyone, wherever they may be this holiday season.”

With Tala’s guidance, OFWs and their families can approach the holiday season with intentional financial planning and thoughtful gifting, aiming to bring joy and peace of mind to their loved ones.

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