Malditang Librarian

Disclaimer: I am not a financial advisor. Always do your own research when it comes to financial decisions.

As a fresh graduate or young professional still new to the "adulting" world, you might still be overwhelmed by all these new choices and opportunities open for you. You must have just gotten your first paycheck and are not sure wha to do with it. As early as now, it pays to be financially knowledgeable. 

Here are some useful suggestions on how to make the most of your money and build good financial habits.

Digital banking

To keep your hard earned money, one of the first things that new professionals must do is open a bank account. Banks keep your money safe and and offer many financial services for your needs. 

With digital banks, signing up for an account is easier. As the name suggests, a digital bank is fully operating online and there is no need to go to a physical branch just to sign up. Digital banks usually just requires you to download an app and upload your documents. I personally use ING Bank and have been satisfied as a customer so far.

Here in the Philippines, digital banking is fairly new. BSP-accredited banks currently operating in the country include ING, CIMB, Tonik, and Komo. They usually have higher interest rates than brick-and-mortar banks because of the lower cost of operations (no physical branches to maintain, for example). On average, digital banks offer around 2.5% interest subject to tax. 

Digital banks are convenient since you do not have to waste time lining up at a bank for your transactions. Customer service is done online. Most digital banks also offer debit cards so you can withdraw your money at your convenience on any ATM. There are digital banks such as ING where there is no transaction fee for withdrawals. 

Track your spending

Have you experienced feeling like you don't know where your money went? This 2022, one of my new year's resolutions is to track where every peso of where my money goes.

I personally use the Bluecoins app on Android (developed by Filipinos) to track my finances. It is easy to set up categories for your expenses and track my bank accounts and investments. Keeping track of my spending habits makes me more conscious of where my money goes and encourages me to save.

Build an emergency fund

The COVID-19 pandemic has taught us that many unexpected things can happen. You may lose your job for several months or even permanently, you may get sick, and you may be short of cash for unforeseen expenses.

Before you start investing, an emergency fund is important. This is your backup money in case life hits you hard and finances get tough. It is recommended that you save for 3-6 months (or even more) of your living expenses for your emergency fund.

I personally have a separate bank account that I don't touch just for this fund. 

Look for other possible income streams

Even if I have a regular job, I still look for other sources of income. I have sold books and things I don't use anymore on Carousell and Facebook Marketplace. I recently opened a Pag-Ibig MP2 savings account. I earn a bit through blogging and my online platforms. It doesn't hurt to have some extra sources of income. 

I try to learn as much as I can about money and finances. This year, I want to learn more about stocks and other possible income streams. I'm dreaming of having a business someday.

I think it is important to learn valuable skills and invest in educating yourself. I feel like we can't just rely on one source of income (like a job), since who knows until when will that be?

Avoid bad debt

There are times that we do need loans for important expenses such as a house, car, medical issues, or education. But don't let them accumulate to debt. Having debt can be stressful. Unpaid debt also has financial repercussions for your future.

We may be tempted by the latest sales on Shopee and Lazada, and get the trendiest gadgets and clothing. There's nothing wrong with treating yourself from time to time, but too much can be dangerous for your finances. 

I still use the same mobile phone since 2017 and the same laptop since 2015. If it is still functioning, I don't see the point of buying the latest model right away. With the fast release of new phones and gadgets, your 'latest' gadget today may be outdated next year.

Always pay your bills in full. If you have any debt problems, Debt Consolidation offers information resources for managing debt. Click here to learn more.

Lastly, avoid scams. There have been a lot of news about bank scams and accounts hacking. Avoid suspicious emails or calls asking for your bank accounts, card numbers, and OTPs. Always transact through the bank's official channels and keep your accounts secure. 

Malditang Librarian will be six years old on May 2022 (I posted my first blog entry in May 2016). 

When I started the Malditang Librarian blog in 2016, my situation wasn't so great. I was unemployed and just resigned from my first job in another city. I was looking for another job and thinking of enrolling in graduate school, just to have something to do while looking for work. I was very disillusioned from my first job, and realized a lot of things from being pushed headfirst into the adult life.

I had been writing online here and there, mostly for personal blogs when social media wasn't that popular. I started a blog in my first job to share board exam tips for aspiring librarians in the Philippines, which had the boring name "Library Logs." Then, in a sudden flash of inspiration, I thought of the name "Malditang Librarian" and I found it so... amusing. There's a common stereotype that librarians are not so nice, and that's a play on that. The name stuck because it was so easy to remember. 

I started this blog simply to share my life and experiences as a librarian, and maybe teach other people what librarianship is about. I started with board exam tips. I didn't have any grand plans for it, but if it helps someone to pass the board exam, or learn that there's more to being 'just a librarian', then that's already enough.

Fast forward to 2022, I am part of a bloggers group that keeps me open to opportunities. I had graduated my Master's in Library and Information Science in 2019, I'm in a job I like, and I am earning a bit from my blog. Well, not a massive amount of money like other more popular bloggers, but just enough extra cash for the occasional takeout coffee or something to add to my savings. As of now, I just plan to reinvest that back to my blog. I didn't intend to create a blog just to earn money, though it's not bad to earn something from a hobby I do on the side.

Though writing, blogging, and creating YouTube videos is something I personally enjoy, I also like that I am helping people. When someone thanks me or sends me a message that I have helped them pass the board exam, or just saying that they appreciate my content, makes it worth it.

I used to write more personal content and rants, but over the years I posted more about things that can help librarians like free library resources, jobs, webinars, and education. There is a small, growing community in my blog. I get a lot of questions about librarianship now, which I try to answer the best I can.

What has blogging taught me?

I was just this one writer, typing alone in a computer simply because I liked it. At first, blogging and searching for topics to write about simply led me to new ideas, new concepts, and made me inquisitive and more curious. I liked the feeling of creating, even just a simple blog entry.

Then, blogging and writing led me to more places, and led me to people that I now consider friends. 

During the pandemic, the skills I learned in blogging has been useful for me as the library transitioned more into online services. I helped improve our website and social media to reach more people. 

Is it still good to start a blog in 2022? The value of blogging

If you are passionate about something and want to share it to people? It's not too late. Anyone can start a blog. A blog can be valuable in the following ways:

Blogging can open opportunities. Being a blogger with a platform, even with a modest following, has opened several opportunities for me. I get invited to events about librarians, and the name "Malditang Librarian" is recognized. As part of Iloilo Bloggers Society, I'm also "in the know" about the latest happenings in my city and get invited to events. 

Blogging can be a source of passive income. It is possible to earn from a blog, but don't expect fast results. If you are diligent and patient in blogging, there are many ways to earn such as advertisements, affiliate marketing, sponsored posts, and brand deals. Blogging, online marketing, and social media promotion are the most effective marketing strategies now. Any business or organization can have a huge benefit in utilizing bloggers and influencers to promote their services and products. See: Three Marketing Communication Tools You Should Know About

Be a positive influence on others through blogging. As a blogger, I realized that I also have a responsibility to share valuable information for my followers. There is so much negativity online, and I aspire my blog to be a positive space for healthy discussion and education. For an example of an influencer with a positive influence: Diana Zeineddine Influencer Spotlight

Share your self and life with others. I started my blog to educate people about librarianship. I wanted to show that there are more to librarians than the common stereotypes. I have received questions and messages from people who got interested in librarianship because of my content. The blog is a way for me to share my life and experiences as a librarian.

I see Malditang Librarian still continuing well into the future as long as I can still write about librarians.