In a proactive response to rising inflation and its impact on families, the UST Business Society and the UST Graduate School Community Development Office organized a timely webinar on Household Financial Management. The initiative underscored the importance of corporate social responsibility (CSR) as an integral part of academic and professional engagement. Among the chosen beneficiaries were the Dominican Sisters of the Presentation of the Blessed Virgin Mary and an adoptive community in Pasay.
The event aimed to strengthen the University’s commitment to community service by integrating social welfare projects into academic pursuits. At the heart of the initiative was a webinar specifically designed to address the economic pressures brought about by inflation. Led by Ph.D. students with support from MBA courses, the program sought to create positive social value by equipping families with practical budgeting and financial management skills.
Mr. Daniel Gonzales, a college lecturer and faculty researcher with expertise in microeconomics, macroeconomics, monetary economics, and environmental economics, delivered a compelling talk on inflation and its consequences on household finances. His presentation helped the Malibay community and other attendees understand and navigate the financial challenges brought on by the current economic climate.
Gonzales identified three primary causes of inflation: Demand-Pull Inflation, which occurs when consumer demand exceeds supply; Cost-Push Inflation, which results from rising production costs; and Built-In Inflation, driven by wage increases that perpetuate a cycle of rising expenses. He emphasized inflation’s negative impact on households, including reduced purchasing power, increased costs of basic commodities, diminished value of savings and investments, and higher interest rates on loans and credit cards.
To promote financial stability, Gonzales proposed practical strategies such as budgeting, smart purchasing, and strategic meal planning. He also discussed debt management techniques like the Snowball Method (prioritizing smaller debts for motivational gains) and the Avalanche Method (targeting high-interest loans to minimize long-term costs). He advocated for income diversification through part-time jobs, freelancing, or small businesses; emergency fund creation to cushion financial shocks; and small, low-risk investments as a hedge against inflation. Gonzales stressed the importance of financial discipline and education in cultivating sustainable financial habits at home.
He also shared his personal approach to financial management, highlighting the importance of tracking expenses and improving lifestyle through mindful saving and spending. He emphasized that insurance is a critical component of long-term financial security. His insights resonated with the audience, encouraging proactive financial planning.
The session concluded with an engaging Q&A, where participants asked insightful questions about insurance options and budgeting practices, reflecting their eagerness to apply what they had learned.
Assoc. Prof. Emmanuel Batoon, Ph.D., delivered the closing remarks, summarizing key insights on inflation, financial management, and community resilience.
Through this webinar, the University of Santo Tomas reaffirmed its commitment to both academic excellence and social responsibility. By equipping communities with essential financial management skills, the program addressed urgent economic issues and promoted long-term financial empowerment among Filipino families.