March is that time of the year where many deserving women finally receive the recognition they deserve – from receiving awards and enjoying media coverage to being showcased in exhibits and marketing campaigns.

And while this has been going on for a few years since March was officially proclaimed as National Women’s Month and March 8 was embraced as International Women’s Day, it’s impressive that there continue to be many female achievers that we discover each time this month and date rolls around.

When I look back at who were the powerful women that made an impression on me, many moons ago fresh out of UP Diliman and I had just started working, one name easily comes to mind: Atty. Liwayway Vinzons-Chato. She served as Commissioner for the Bureau of Internal Revenue during the late President Fidel V. Ramos’ administration, and her commitment to financial reforms cemented her role in history.

Beyond her contributions to improving revenue collections then, and later as Congresswoman for Camarines Norte, as well as her sharp legal mind that her clients appreciate to this day, Atty. Chato also champions financial independence, empowering women and families with money wisdom so they can enjoy one of the best freedoms in this life.

She generously shares her top advice for women so they have a richly-lived life.

#1 It’s as simple as ABC

Everyone can receive money advice.  These days, you won’t even need to sit down with a professional financial planner, or buy a book.  Many turn to YouTube and TikTok for bite-size practical information, but Atty. Chato says knowledge is not enough.

“I believe that real change can only happen in our life by focusing and remembering the ABCs that can bring about a meaningful change. This would be our Attitudes that influence our Behavior which reflects our Character.  Real change, especially in handling money, can happen only when we change the ABCs in our lives first.”

#2 Plan for the worst of times

Most people do not like to think of not so good times, like illness, accidents or death.  As such, if and when these happen, they are unprepared.  According to Atty. Chato, planning only for the best of times is wasteful and wishful thinking.

“A good and well-crafted estate plan, with the help of experienced professionals,  is a plan for the worst of times. The most common mistake by almost everyone, not just women, is the lack of urgency and consistency in preparing for the eventualities of life. Without a properly documented plan, they risk losing all their hard-earned money and assets. This is where estate-planning would be most helpful.”

#3 Live well the seasons of your life

For Atty. Chato, “there is a time and season for everything. You have your seasons of youth, marriage or single blessedness, child-bearing and child-rearing, middle-age, and advancing years. Enjoy and value each season of your life and be happy and grateful for everything that you experience, good and bad, together with all the people you meet in each or all the seasons of your life.”

#4 Is it giving up or are you gaining more?

Many women face the reality that they have to give up their careers to raise their young children, and Atty. Chato did the same.  “I gave up my career for 2 years to take care of my two children at that time (she and her husband are blessed with 5).” During those two years away from work, Atty. Chato embraced being a full-time housewife.  To save on the family’s income, “I learned sewing and handled our beddings, table cloths, curtains plus my children’s apparels.”  She also learned to cook, cut her kids’ hair, take on most of the housework to save on costs.  But what’s priceless was the time she was able to spend with her young kids.

#5 When you lend money, be prepared to lose it

“If you lend money, whether to family or friends, be prepared to lose it forever,” says Atty. Chato. “I have lost millions in loans to friends and family and the truth is even a well-documented loan cannot be collected, when defaulted, unless you are ready to spend more money for litigation.”

Rather than lose sleep over them, she decided to consider these events as learning experiences. “But if you do it again, then you don’t learn from them and will likely suffer the same consequences. Committing the same mistake over and over again is idiocy at  best and lunacy at worst.”

#6 The Senate’s loss became World Vision’s gain

After serving as Congresswoman, Atty. Chato was invited by the People Power Coalition to make a bid for a Senate seat.  Unfortunately, she did not make it to the magic 12 but Senate’s loss became World Vision’s gain.

“I became involved with World Vision Development Foundation, the Philippine affiliate of an international Christian NGO focused on children’s welfare and development.  I served as Board Chair for 12 years,  Board Trustee for 24 years, and continue to serve as a member.”

“It was in World Vision that I have learned, in better ways, to share my time, talent and treasure. Since the time I joined them, I have been a witness to God’s abundant grace reaching the needy and disadvantaged through its child welfare development programs as well as family oriented projects like the Paluwagan-inspired Community Savings and Credit Association (COMSCA) that has instilled the value of self-sufficiency, saving and sharing among its member-beneficiaries.”

#7 Learn to share with others

Beyond saving and spending, Atty. Chato advocates for a third S - sharing.   “Learn to share with others, particularly those in need, of everything that you own and possess.”  She recommends giving to World Vision Philippines as “one of the best means of sharing of God’s blessings in our lives.”

More than just money, it’s also important to share “your time, talent and treasures. This will take a lot of commitment, learning, and practice.

In closing, she likens money management to planning for a trip.  Don’t leave it to chance, or hope for things to simply fall in place.

“Think of how you plan for a trip or journey. If you want your travel to be successful and meaningful, You don’t just leave on a trip or journey without a plan. You would, often first consult a travel agent to help in preparing for the destination, the costs involved, the facilities you need considering the purpose of your trip, the timetable, the itinerary, and the maximum success and enjoyment you expect from the travel. The same is true with your travel or journey of life.”