Plentina is one of the newest fintech companies that's making it big in the startup world in the Philippines. With the recent Philippine Startup Week 2021, Plentina has successfully engaged itself in taking an active role in this year’s digital week-long event engaging the public in the current fintech startup trends and innovations. Happened 15 - 19 November 2021.

The Philippine Startup Week is an annual event that gathers startups, academe, government, and other innovation entities to celebrate local entrepreneurial flagships. This year’s theme, Beyond Recovery: Filipino Startups Redefining Opportunity, highlights the importance and role of startups and innovations as we surpass the recent challenges of the pandemic. The event is fully digital and a startup experience like no other. 

Plentina participated in three large-scale events during the week’s celebration. First, Plentina was selected for the second year in a row to be one of the [Top 100 Startups in the Philippines]. Plentina also organized its second community event under the showcase category. Lastly, Plentina, through its Co-founder (Earl Valencia), was a moderator for the Slingshot Conference of DTI.

As one of the Top 100 Startups in the Philippines, Plentina was able to pitch the story behind its creation. It was mentioned that based on the founder’s experience, regardless of profession, income, and other information, it was hard to avail basic financial services in the country. Presented by Kevin Gabayan (Plentina Co-founder), Plentina was created to be the solution that fills the gap between ordinary Filipino citizens and financial services to build a better and more inclusive financial ecosystem.

![mainmain.png](https://storage.googleapis.com/web-strapi-352701.appspot.com/mainmain_240bce5ce8/mainmain_240bce5ce8.png)

For the Community Event of Plentina, the Startup was chosen again this year to be a community partner but this time in the Showcase category. Plentina organized a comprehensive discussion titled “Credit Building is Nation-Building: In-depth Look at Credit Leadership,” showcasing Plentina’s products and services, leadership, along with its partners. The discussions were done by Plentina’s Co-founders, who talked about their products and services, along with personal experiences on recognizing the importance of credit building. There were other invited speakers who were partners of Plentina in their endeavor, namely Atty. Ben Joshua Baltazar (President and CEO of Credit Information Corporation), who discussed the Philippines’ credit culture and the need to restructure it followed by Dennis Velasco (Founder and CEO of Prosperna), who talked about new innovations needed for the country’s MSMEs to grow. The discussion was then followed by a panel discussion joined by Alex Capulong (Plentina General Manager) and special guest panelist, Xandra Ramos-Padilla (National Bookstore Group Managing Director). The panel discussion tackled the roles of fintech startups, government, and retailers in providing better credit access to Filipinos especially during and post pandemic. 

Plentina also participated in DTI’s Slingshot conference, during which Plentina’s very own Earl Valencia served as moderator. During this main summit event, Earl facilitated the discussion on the current trends, challenges, and opportunities of [Fintech and Digital Banking] in the country, especially during times of pandemic and post-pandemic recovery. Panelists for this discussion were Melchor Plabasan (Bangko Sentral ng Pilipinas), Kelvin Lester King Lee (Securities and Exchange Commission), John Januszczak (UBX), and Artie Lopez (NextPay). This was a fruitful panel discussion, because all speakers mainly want to serve legitimate, safe, and risk-free financial services to Filipinos during these challenging times and beyond.

![slingshot222.png](https://storage.googleapis.com/web-strapi-352701.appspot.com/slingshot222_9cce212eb8/slingshot222_9cce212eb8.png)

Plentina salutes the Philippine Start up Week 2021 for a successful digital event that has fully informed, empowered, and energized Filipinos with the startup spirit. Plentina will continue to take an active role in similar events to better serve its users and build a better financially inclusive Philippines. 

The Philippine Startup Week 2021 was organized by the Department of Science and Technology (DOST), Department of Trade & Industry (DTI), Department of Information & Communications Technology (DICT), QBO Innovation Hub, and other private organizations.

Plentina has been accepted into the 2020 class for the Techstars and Western Union Accelerator, startup accelerators focused on financial services.

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Filipino Fintech Startup Gets Accepted Into Techstars and Western Union Acceleration Program | Plentina

Building Credibility: Philippine Startup Week 2022

The week before school or ‘Back to school’ season can be a nervous and exciting time, as kids and parents get ready to face a new school year. Upon entering a new school year, kids will meet new friends, teachers, and a new grade level of schoolwork. Parents, on the other hand, will spend time preparing what their kids will need for the new school year. 

We want to help parents prepare for this back to school period by showing you the best and latest of what our partner merchants have to offer!


**Here are top 10 products that we recommend from our partner merchants:**

**1. Herschel x The Simpsons bags**

![Herschel The Simpsons](https://storage.googleapis.com/web-strapi-352701.appspot.com/Herschel_The_Simpsons_d9fcbfde27/Herschel_The_Simpsons_d9fcbfde27.png)
Source: [Bratpack](https://bratpackstore.com.ph/)

Who isn't familiar with The Simpsons™? The longest running primetime scripted show in television history since 1990. Herschel has partnered with them on an exclusive collection inspired by the iconic characters that we all know and love. Let's meet THE family, now available at Bratpackstore.com.ph.

**2. Mario D’ Boro school shoes**
[![Mario D' Boro Shoes](https://storage.googleapis.com/web-strapi-352701.appspot.com/Mario_D_Boro_Shoes_5c0ccb8ecb/Mario_D_Boro_Shoes_5c0ccb8ecb.jpg)](https://www.zalora.com.ph/mario-d-boro-runway/)
Source: [ZALORA](https://www.zalora.com.ph/mario-d-boro-runway-cs-25501-black-school-shoes-black-1733987.html?catalogType=Search&listId=school%20shoes)

For growing kids who have outgrown their shoes, new school shoes are a must have.
Zalora presents affordable Mario D’ Boro school shoes with a durable rubber outsole and a synthetic leather upper.  

Prices start at Php 1,099.75.

**3. H&M 7-pack school socks**

![H&M 7-pack school socks](https://storage.googleapis.com/web-strapi-352701.appspot.com/H_and_M_7_pack_school_socks_6e750059fc/H_and_M_7_pack_school_socks_6e750059fc.jpg)
Source: [ZALORA](https://www.zalora.com.ph/hm-7-pack-liner-socks-white-2389725.html?catalogType=Search&listId=socks)

Paired with black shoes, school socks are also a must have. In this arena, ZALORA offers a 7-pack of H&M liner socks featuring a fine-knit cotton blend with elasticated tops for maximum comfort for kids. 

Prices start at Php 499.00. 

**4. Maped Harry Potter set of pencils**

![Back-to-School (6).jpg](https://storage.googleapis.com/web-strapi-352701.appspot.com/Back_to_School_6_b4e58ea55b/Back_to_School_6_b4e58ea55b.jpg)
Source: [National Book Store](https://www.facebook.com/nbsalert/photos/pcb.10158881117241914/10158881117146914)

Got a child who loves reading Harry Potter? Spark their magical learning journey in school with this sweet deal pencil set with six Maped brand Harry Potter pencils. 

Price is Php 99.00. 

**5. Best Buy Yellow pad and pad paper**

![Back-to-School (4).jpg](https://storage.googleapis.com/web-strapi-352701.appspot.com/Back_to_School_4_9dbb6e86d6/Back_to_School_4_9dbb6e86d6.jpg)
Source: [National Book Store](https://www.facebook.com/nbsalert/posts/pfbid02jK3MwSm2pp9ZrmrhcDRpV4Be1X49GKmq6pXAECfjDsHDAKvPBpbRG1iXrXUCbMaXl)

If there's one thing that will always be needed for school, it’s pad paper. Luckily, National Book Store offers yellow pad and pad paper under their much loved Best Buy brand. Avail the different sizes in 1/4th to 1 whole pad at National Book Store branches near you. 

Prices start at Php 12.00.

**6. Sharp scientific calculator**

![Back-to-School (5).jpg](https://storage.googleapis.com/web-strapi-352701.appspot.com/Back_to_School_5_2950abff5e/Back_to_School_5_2950abff5e.jpg)
Source: [National Book Store](https://www.facebook.com/nbsalert/photos/a.10158849175656914/10158849161191914/)

For high school students and above, we shouldn't forget that they need a different kind of calculator! National Book Store features affordable scientific calculators from the SHARP brand. Here’s an investment that will be appreciated by your kids as they increasingly need to use more complex calculator functions for math and science subjects. 

Prices start at Php 495.00.

**7. DeFacto Wallet **
![DeFacto wallets](https://storage.googleapis.com/web-strapi-352701.appspot.com/De_Facto_wallet_7dd4f2423e/De_Facto_wallet_7dd4f2423e.jpg)
Source: [ZALORA](https://www.zalora.com.ph/catalog/?q=de+facto+wallet)

In giving kids their allowance, of course you don't want them to have their money loose in their pockets. You’d want to teach them to organize their money in one place. ZALORA offers this DeFacto brand stylish wallet, good for kids looking to be more responsible with their money.
 
Prices start at Php 529.00.

**8. Stance Gameday socks**

![Stance Gameday Pro Socks Fusion Hoops](https://storage.googleapis.com/web-strapi-352701.appspot.com/Stance_Gameday_Pro_Socks_Fusion_Hoops_b5a05ec9c6/Stance_Gameday_Pro_Socks_Fusion_Hoops_b5a05ec9c6.jpg)
Source: [ResToeRun](https://restoerun.com/2109-stance-gameday-pro-socks-fusion-hoops-1000232106.html)

Some of the best memories in school are with friends banding together against adversity. Schools hold sports fests, intramurals, and varsity practice that let them strive to become their best selves alongside their friends. Gear up your kids for this by availing Res-toe-run’s Stance Gameday Socks featuring moisture-wicking fiber and an anatomical footbed for support and breathability.

Prices start at Php 1,290.00.

**9. BMAX Maxbook laptop** 

![BMAX S13 13.3" Intel Celeron N4020](https://storage.googleapis.com/web-strapi-352701.appspot.com/BMAX_S13_13_3_Intel_Celeron_N4020_56a4f539e4/BMAX_S13_13_3_Intel_Celeron_N4020_56a4f539e4.jpg)
Source: [Kimstore](https://kimstore.com/catalogue/bmax-maxbook-s13-133)

A big investment especially for online class is having a laptop. Students will need it to research, study, and write reports or papers in order to fulfill class requirements. Kimstore features this BMAX Maxbook with an Intel Celeron N4020 Processor and 6GB RAM, good for students who will own their first laptop at an affordable price!

Prices start at Php 13,990.00.

**10. Hydroflask 18oz standard mouth**

![Hydroflask 18oz standard mouth](https://storage.googleapis.com/web-strapi-352701.appspot.com/Hydroflask_18oz_standard_mouth_a507e1d74c/Hydroflask_18oz_standard_mouth_a507e1d74c.jpg)
Source: [Hydro Flask](https://www.hydroflask.ph/114-18-oz-black-standard-mouth-1000215166.html)

Students should make sure they’re hydrated well to meet the challenges of schoolwork and to pay attention in class with a refreshed mind. Keep water cold or hot with the 18 oz Black Standard Mouth Hydroflask via hydroflask.ph. 

Prices start at Php 1,890.00.

Prepare your children for a bright future today by availing products from these stores! Vouchers for these products are available by logging into the Plentina app. Happy shopping, parents!


Start the school year 2022 prepared! Here are some of the must buy back-to-school items for your kiddos from trusted brands.

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Back-to-School 2022 Essentials | Plentina

Back-to-School Items in 2022

Nowadays, customers are often looking for options before they make a decision on their purchases–from how to buy, where to buy, to how to pay. Payments play a key part in the customer’s shopping experience. Having multiple payment options available is one of the factors that affects customer decision making.

One of the payment options that is becoming popular that you might want to consider is Buy Now Pay Later (BNPL). It’s a short-term financing tool that allows customers to buy products and pay by installment without using a credit card. 

BNPL commonly attracts younger customers in the market, such as middle-class millennials and Gen Zs who hustle to earn and purchase items. BNPL is a modern version of deferred payment without using a credit card, giving young customers the ability to pay by installment.

BNPL also enables unbanked Filipinos to have payment options aside from paying in cash. In fact, [according to 2020 Banko Sentral ng Pilipinas data, only 48% of the country's adult population has a bank account.](https://www.bsp.gov.ph/Media_And_Research/Financial%20Inclusion%20Dashboard/2020/FIDashboard_4Q2020.pdf) This could mean BNPL is a practical option for many Filipinos who like being able to shop without going through the stringent credit checks by banks.

**Here are the reasons you should offer Buy Now Pay Later:**

**1. More Affordable for Customers**

Unlike credit cards, BPNL, specifically Plentina, charges a low service fee and doesn't charge monthly interest rates. They also offer more payment flexibility. This means your customer can afford most of your products, especially the big-ticket items such as laptops, smart phones, and high-end appliances.

_💡 BNPL empowers customers to make purchases._


**2. Turns Browsers to Customers**

Ever wonder why some customers would browse your product pages and just leave
without purchasing anything? It could be because your payment options are limited to
traditional methods. BNPL can do wonders on converting page visits to actual sales, because
you are offering them payment flexibility – something they crave for items they wish to
purchase.

_💡Payment flexibility improves client satisfaction and thus improves retention and loyalty._


**3. Improves Customer’s Purchase Experience**

Offering your customers a more flexible payment option with BNPL means empowering
them. When you empower your customers, you give them control over their purchasing
decisions. And when your customers are empowered, they are happy. 

_💡 Great customer experience equates to more sales._

**4. BNPL is a Growing Market**

According to this Q4 2021 BNPL Survey, BNPL payment in the Philippines is expected to grow by 109.7% on an annual basis to reach US$ 803.5 million in 2022. As the BNPL industry continues to expand across the country, BNPL firms are also expanding their product offerings across the Philippines to garner more market share in the country.

As BNPL is offered by almost every single online business, it is supported by many payment service providers. 

_💡 BNPL influences demand by offering flexible payment options._


**5. It’s Not Just Online**

While BNPL started as an online form of payment, it can also be integrated to your POS
in your physical store. A good BNPL service provider can offer the best of both worlds
for your business to maximize its benefits to your sales funnel. 

_💡 BNPL applies not only to e-commerce but also also to brick and mortar establishments._

These are just some of the reasons BNPL should be part of your business strategy. Not only will it help you keep cash flow coming, but your customers can also turn to options that suit their current finances. 

If you want your company to amplify sales, attract customers, and build customer loyalty, you may send us a message through this [link](https://www.plentina.com/merchant).

Amplify sales, attract customers, and build customer loyalty with Buy Now, Pay Later. Contact us for more details.

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Why Businesses Should Offer Buy Now Pay later | Plentina

5 Reasons Businesses Should Offer Buy Now Pay Later

With fuel prices being at an all-time high and constantly fluctuating, everyone is on the lookout to find the best roll-back times for fuel. Start saving time, money, and fuel and protect yourself against price hikes with PriceLOCQ! 

_**“The Philippines’ first and only mobile app that protects you against price hikes”**
    
PriceLOCQ is the country’s premier mobile fuel saving application. Through PriceLOCQ, you can expect protection against price hikes, incremental savings, and a trouble-free and convenient experience. 

PriceLOCQ works like a virtual store, where you can use your mobile device to purchase fuel at any time. The key features of the app are:

- The fuel is virtually stored as  “Fuel Balance” on your account. When prices are low, you can purchase fuel in advance, which you are free to redeem any time with no expiry. 
- You will get an advisory on weekly price checks and price increases. 
- With its first brand partner SEAOIL, PriceLOCQ allows you to purchase up to 600 liters of SEAOIL fuel at a lower price. You can then redeem your fuel in over 200 participating SEAOIL branches nationwide.

This can bring you big savings by protecting you from the fluctuating fuel prices. Instead of monitoring fuel prices, you can purchase fuel in advance when prices are low and redeem this when prices increase. As more partners join PriceLOCQ and more fuel options are added, you can expect your savings to grow as well. 

## How to start purchasing fuel?

1. Cash in through the app using a Credit or Debit Card, Over the Counter, Online Banking, GCash, or through Plentina. 

2. View the available fuel options and current prices. Select your preferred fuel type and quantity, and then confirm your purchase.

3. Scan the QR code at your preferred participating SEAOIL branches to redeem your fuel credits when you gas up.

	As a Plentina user, you can avail of PriceLOCQ Buy Now Pay Later e-vouchers. You can use your e-voucher from Plentina to buy fuel in the PriceLOCQ app that you can use to fuel up at over 200 SEAOIL gas stations. Enjoy your gas hassle-free with Plentina’s low service fee and installment terms of up to 4 payments.

Are you ready to experience PriceLOCQ? Download their app here: www.pricelocq.com/downloads.


Start saving money on fuel with PriceLOCQ app that allows you to stock up your fuel inside the app. Buy fuel while the price is low, and claim when you need it.

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How To Save Big On Fuel | Plentina

How to save big on fuel with PriceLOCQ

As the pandemic continues to change the landscape of how work looks like, four up-and-coming young professionals, Gino, Dex, Myk and Gabe have chosen to intern with fintech startup Plentina to boost their career opportunities for the future.
 
With three months into Plentina’s Winter Internship Program, they’ve touched on various sides of how the business runs from strategy to product and marketing to communicating with customers.
 
Here they share their reasons backed with experience why you should also choose to work with a startup:

**It's The Best Place to Learn **
 
Gino Alvarez says:
_“One of the best things I’ve experienced was that the desire to learn is always a two-way street. As much as I wanted to come in and learn from the founders and the other members of the team, I quickly realized that they wanted to learn from me as well.”_

![unnamed-4.jpg](https://storage.googleapis.com/web-strapi-352701.appspot.com/unnamed_4_9fba4a0f65/unnamed_4_9fba4a0f65.jpg)Gino Alvarez, Ateneo de Manila

“When I started on this journey a few months back I honestly didn’t know what to expect. The thought of working in an emerging fintech company was incredibly exciting, but I’d be lying to you if I said it wasn’t quite intimidating as well. Now, I could honestly say that I feel more confident and capable than I've ever felt before. 
 
What I loved about working in a young fintech startup was that I felt as though every project I was given was crucial for the company’s success. I always felt like I was heard and I truly felt like I was making a difference in the company. There’s just something empowering and motivating about having the country manager, the chief business officer as well as chief executive officer sit there and simply ask you for your thoughts, opinions and insights. So if I were to sum it up, it’s an environment that is conducive to learning, and one which is driven by a strong sense of passion, ambition and the will to succeed.”

**You Get A Hands On Experience How Companies Work**

Myk Aquino says:
_“Interning at a startup covers a wide range of work, which means having to wear various hats for a company and this allowed me to develop an array of skills needed for the various roles I took on.”_

![unnamed-3.jpg](https://storage.googleapis.com/web-strapi-352701.appspot.com/unnamed_3_cb17c88645/unnamed_3_cb17c88645.jpg)Myk Aquino, University of the Philippines Diliman

Fintech companies are garnering attention as  the future of financial services because they allow customers to make transactions fast and easy. At first, interning at a Fintech was especially interesting and exciting to me because I knew it would give me an idea on how the possible future of financial services is built from ground up. By the end, I really appreciated all the learnings and fulfillment I got from interning at Plentina.  
This work environment is a relatively small workforce and flat organizational structure that allows collaboration with anyone in the company, which gave me an opportunity to work with, learn from, and get mentorship all the way from senior management down to the last employee. It was also never a boring day at Plentina because there was always something exciting going on, from its official launch to its first press conference I was able to work on projects for operations, strategy, and marketing. Lastly, working with Plentina was especially a great opportunity to help in building the future of financial services and thus the future of possibly millions of people, and I can’t wait to see in a few years the impact of Plentina on emerging markets.

**You’re Given Real Responsibilities**

Dexciree Vergara says:
_“You are not only given random tasks, but these activities hold value and impact on the growth of the company.”_

![unnamed-2.jpg](https://storage.googleapis.com/web-strapi-352701.appspot.com/unnamed_2_abefc401c0/unnamed_2_abefc401c0.jpg)Dexciree Vergara, De La Salle University- Manila

I never once dared to consider working in a start-up, much less interning in one. This quarantine gave me a turning point to overcome those doubts and take risks to absorb experiences as much as I can. Interning in a startup is the epitome of a hands-on experience. You are given projects where you take full responsibility — from the planning, execution, and evaluation. Right of the gate, I was designing Plentina’s social media strategies and taking charge of their online marketing plans. They made sure to nurture and mentor interns, creating a well-rounded experience. More so, you get to work with the most passionate people in the group. From the brainchild to the junior staff, everyone exhibits that burning passion to serve the Filipino market and believes ceaselessly in what Plentina advocates for. Working in a start-up entails growing with the company. Incredibly fast-paced, get ready to be agile and have that steep learning curve that we yearn for. Undeniably, working in a startup is always a route worth taking the risk.

**It’s the Culture**

Gabe Ticgue says:
_“Everyone gets a chance to know each other beyond the roles and tasks we’re assigned to do. This makes the environment a comfortable and easier place to exchange ideas.”_

![unnamed.jpg](https://storage.googleapis.com/web-strapi-352701.appspot.com/unnamed_0fee8bbc73/unnamed_0fee8bbc73.jpg)Gabe Ticgue, University of the Philippines Baguio

The first two years of my career, I’ve worked with established multinational companies doing one job. I was dealing with established hierarchies, navigating through the complicated web of relationships of the workplace. Most often than not, the bosses are out of sight in production. It can get really exhausting.
The best and most fruitful parts of working with Plentina was the weekly company meetings for socialization and group activities with the whole team. This broke down any barriers that we may have and created a special bond that helps boost company-wide collaboration. A downtime to refresh from the week’s work. Knowing your boss can get really goofy and vibin’ in a game of Among Us makes it easier to relate and touch base where they’re coming from. People are open and passionate about what they do and driven to achieve their goals. As an intern, this was inspiring and helped me find the fuel for my own ambitions about my future career. It’s exciting to see where Plentina is heading soon!

**More on Plentina’s Internship Program**

![Screen Shot 2021-02-16 at 10.59.22 AM.png](https://storage.googleapis.com/web-strapi-352701.appspot.com/Screen_Shot_2021_02_16_at_10_59_22_AM_f192443e75/Screen_Shot_2021_02_16_at_10_59_22_AM_f192443e75.png)

Plentina’s internship program provides successful candidates with an intensive yet unique opportunity to experience a challenging 10-week internship. From operations, marketing, to product, you will deliver real, impactful, and result driven tasks to different business units of the company.  As part of Plentina’s cohort, you will work on a defined project, network with senior colleagues, and get the chance to participate in career development sessions.

Internship program provides an intensive yet unique opportunity. Here are some reasons backed with experience why choose to intern with a startup.

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Why Choose To Intern With A Fintech Startup | Plentina

Four Interns and Plentina: Why Choose To Intern with a Fintech Startup

Plentina, an alternative credit scoring and digital financial services startup, has been accepted into the 2020 class for the Techstars and Western Union Accelerator, one of the top global startup accelerators focused on financial services access and tools that drive global financial inclusion.

Plentina has been busy since its incorporation last year, developing its credit scoring algorithms and obtaining its lending license from the Philippine Securities and Exchange Commission in April 2020.

“We’re working to create financial opportunities to enable everyone’s greatest potential. Everyone on our team is passionate about improving livelihoods and economic growth in emerging markets. We’re thrilled to be focusing valley talent and resources on impacting the world’s emerging middle class,” said founder, Kevin Gabayan.

Plentina is the first Filipino-led startup to participate in the Techstars / Western Union accelerator, with co-founders Kevin Gabayan and Earl Valencia acting as Chief Executive Officer and Chief Business Officer, respectively. Plentina is one of the 10 startups accepted from a competitive field of global applicants and the only company in the 2020 class operating in Southeast Asia. Gabayan and Valencia were classmates at Stanford University, leaving high profile corporate jobs at Google and Charles Schwab in Silicon Valley to start Plentina. 
 
“We are elated to be a part of this year’s Techstars Western Union accelerator class. We believe a digital data-first financial service infrastructure can unlock opportunities for millions of Filipinos who want a better experience,” said Valencia.

“We needed to address the injustice that most people in emerging markets lack access to formal financial services. We can help our customers and partners benefit from a more inclusive financial system,"  Valencia adds.

This is the second year Western Union, a cross-border and cross-currency money movement leader, and Techstars, the global platform for investment and innovation, have joined forces for the accelerator. With the theme this year being Access, the program is focused on creating and unlocking financial opportunities for a more equitable and inclusive financial system. Startups from Europe, Africa, West Asia, and the United States join Plentina in the 2020 class.
 
“While we recognize that there is much work yet to be done stand proudly with everyone who is fighting for a fairer, more equitable system.” said Ethan Austin, Managing Director of the 
“The Western Union team is tremendously impressed with this diverse group of founders and entrepreneurs who are actively addressing challenges across the financial services ecosystem,” said Western Union President of Product and Platform, Shelly Swanback. “I am confident that the breadth of perspective, experience and technologies represented in this year’s portfolio will drive us to be even more disruptive as we endeavor to develop more inclusive financial services and payment technologies in a rapidly changing global economy.”

Plentina has been accepted into the 2020 class for the Techstars and Western Union Accelerator, one of the top global startup accelerators focused on financial services access and tools that drive global financial inclusion. 

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Filipino Fintech Startup Gets Accepted Into Techstars and Western Union Acceleration Program | Plentina Lending Inc.

Filipino Fintech Startup Gets Accepted Into Techstars and Western Union Acceleration Program

Inflation is an increase in prices of the goods and services in an economy, resulting in a decrease in purchasing power. It is measured by how fast the prices increase over a period of time. On the contrary, when prices drop, it is called deflation, which increases purchasing power.

Supply and demand for products and services greatly affect the prices and purchasing value of a country's cash. The increase in production costs, such as raw materials and employees’ salaries, even amid the same demand, can cause inflation due to the added costs passed onto the consumers. A surge in demand can also cause inflation, as consumers are willing to pay more for the product or the service.

**How Does Inflation Affect Our Lives?**

Most people around the world, not just those living in the Philippines, feel the increase in the cost of living in their daily lives as a result of inflation. However, the increase in prices hits the middle-income class hard and the low-income class harder.

The higher cost of basic needs such as food, transportation, and utilities results in less savings and less extra money for discretionary spending, especially when your salary isn’t increasing at a rate similar to the inflation rate. With all the price hikes in both goods and services, it is important that you plan your finances to survive economic downturns.

**How To Save Money During Inflation?**

Given that inflation is unavoidable, it is important that we find ways to mitigate the negative effects of the rising prices of goods and services. 

**Here are some tips you can consider:**

**Shop Smart**

Shopping can be incredibly rewarding. However, in times of inflation, we need to learn how to spend our money wisely to reduce our everyday expenses. 

**Here are some tips to help you:**
- **Make a list**. Be sure to list down all that you need to buy, and stick to your plan. By having a list and sticking to it, you'll be less likely to make impulsive purchases.
- **Buy house brand products.** When shopping for groceries, look for house brands, they are usually cheaper compared to other brands.
- **Buy in bulk.** Non-perishables such as detergent, shampoo, soap, and diapers can be bought in bulk and you can avail of bigger discounts.
- **Shop near closing time.** Take advantage of the discounts some shops, such as bakeries and cafes, offer when it’s near closing time. 
- **Pay using your credit card.** Some credit cards give cash back rebates when used to pay when dining or shopping at participating restaurants or stores.
 
**Save Your Money in a Better Place**

While it is good to have emergency cash that you can easily withdraw, keeping the rest of your savings in your bank savings account will not safeguard your purchasing power. This is because inflation has a detrimental impact on your idle cash savings. The value of your savings today will be less in the next few years depending on how high the inflation rate is. That’s why it’s important to try to protect the value of our savings over time.

There are relatively safe ways of saving that offer higher interest rates than a regular savings account. One that you can consider is the Pag-ibig MP2 Savings Program. It’s a voluntary savings program for Pag-ibig members who wish to save more and earn higher dividends than what you can get under the regular Pag-IBIG Savings Program. 

**Pay Your Debts Soon**

Prioritize paying off your debt so that you can reduce the compounding interest rates on your loans, which will help you save in the long run. Clearing your debt will also give you a more accurate picture of your financial standing.

**Reduce Energy Bills**

Inflation typically hits basic and essential goods and services the most, causing the utility rates to increase. The two basic services that are usually affected are electricity and water. 
Take a closer look at your bills, and find ways to cut down what you don’t need or reduce your usage. For example, instead of using the shower when taking a bath, you can use a pail and dipper. 

**Consider Getting a Side Hustle**

Some of us may not be able to stop purchasing discretionary products or some things that aren’t really necessary. Alongside being cautious with your spending, another way to increase your earnings and budget for non-basic goods or services is to have a side hustle. 

Here are some ways you can make some extra cash on your own time:
- Tutoring
- Freelance writing
- Online reselling
- Baking and selling pastries

These can be great ways to generate more income and develop your skills, especially if your side hustle is aligned with your interests.

**Consider Investing**

If you haven’t done any investing before, now is the best time to start! Having a long-term investment plan is one way to combat inflation. 

Real estate is definitely an investment you may want to consider, as the value of properties usually increases over time. Investing in stocks is also a good idea and can help grow your money in the long run.  


**Bottom line**

With all the price hike and interest hike in time when inflation is high, budgeting, especially, household budgeting is a challenge that leaves some frustrated. Start with reviewing and analyzing your monthly expenses including both necessary expenses and discretionary spending, and listing down what to prioritize. This will help you determine your monthly needed budget, what you can cut down and what you can save or set aside for investment.


Inflation is an increase in prices of the goods and services, resulting to decrease in purchasing power. Learn how to save during this economic downturns.

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