The Philippine peso dropping further these past few days? Shares also not performing well? For the normal, uninformed Filipino, this may be bad news (and a potential major problem).
But hold your horses, and keep calm: Instead of joining the blame game, why not use this to your advantage? No matter how bad a situation may be, you know there will always be a silver lining:
1. Buy shares in the stock market. If you have yet to try investing in the stock market, now is a good time to purchase stock market shares. Think of it this way: The stock market eventually recovers after a few months (or years, depending on trends). Depending on how much risk you are willing to take (and the suggestions your wealth adviser will give you), making the right moves will help you earn a profit in the long term, especially if you invest in well-performing stocks.
Still uneasy and unsure in buying stocks? This page can help you out.
2. Patronize Filipino products. Among the consequences of a weak peso include imported products being more expensive. However, a weak peso can be used to our advantage, especially to benefit our local industries. It's no secret that we Filipinos create and produce world-class products, ranging from food, clothes, bags, to even furniture. With world-class Filipino designers like Monique Lhuillier, Kenneth Cobonpue, Vito Selma, Amina Aranaz, and Rosenthal Tee, we have so many reasons to love buying local.
[related: In Focus: Meet the 2016 Red Box Visionaries in the Home Accents Category of the 63rd Manila FAME]
3. Find opportunities to break into the international scene. Speaking of proudly Filipino-made products: A weak peso would mean it would be cheaper to export products, so now is your chance to take that shot in showcasing what you've got to the world (especially with food, fashion and furniture) to the world. Who knows, you might be the next world-class Filipino talent the country can be proud of.
[related: Hot Stuff: Young Pinoy Designers Ready to Rule the Catwalk!]
So for the meantime, just relax, think positive, and start working for your dreams!
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Artwork by Jana Jimenez. Image from News.ABS-CBN-com.