ANC's 'On the Money' gives tips on how to save, invest

Posted at 07/25/12 5:25 PM

MANILA, Philippines - "On the Money," a new daily show on ANC, is hoping to teach Filipinos how to better manage their personal finances.

"On the Money," which will start airing on July 30, will introduce saving and investment concepts, debunk money myths and give simple tips on how to get more bang for your buck. 

The hosts of ANC's On the Money, from left Melissa Gecolea, Edric Mendoza, and Salve Duplito.

The show will also feature finance experts, professional money managers and life coaches who will dispense advice and answer questions from viewers.

"On the Money" is hosted by entrepreneur and marketing expert Edric Mendoza, financial planner and former business reporter and columnist Salve Duplito and broadcast journalist Melissa Gecolea.

Mendoza, the show's main anchor, is passionate about teaching people the responsibility of spending on the right things and busting bad shopping habits.

"I’m thrilled about this show because of what it can do for its viewers. If Filipinos manage their money properly, we will have better fathers, better mothers, and even better children," Mendoza said.

The key to financial well-being, Mendoza said, is to junk the "entitlement mentality" - which makes people believe they deserve to get things they cannot afford. He admitted he once fell victim to that mindset, which nearly made him bankrupt.

"We are in a culture and environment where wherever we go, everything says ‘buy me.’ We need to have a mindset change because a large part of why people have money problems is their idea of entitlement that
makes them think they owe it to themselves to buy things," he said.

Duplito, a multi-awarded business journalist, will teach basics of finance and guide viewers out of their financial problems on her segment "Salve Says."

"There is a great need for financial literacy in this country, but people don’t want to hear these lessons from someone who is going to peddle a product or a technical guy who says ‘one fourth of one percent.’ My job is to translate these concepts into real doable actions, and tell the story of those who have blundered and those who have succeeded, so that ordinary people will know what to do with their finances," she said.

Duplito wants to teach Filipinos where to put their money, to live below their means, and to spot and avoid scams.

"We need a culture of revolution that will make people who are thrifty, cool," she said.

Gecolea, a former TV reporter and news anchor, will facilitate the show’s social media segment by monitoring questions and comments from viewers via Facebook and Twitter and field them to the program’s resource persons.

"The Philippines needs this show. We live in a culture that does not know how to save and we need to be taught. Our stock market is doing great, we have the strongest performing currency in Asia right now. What could be better than now to start a personal finance show? We needed this a long time ago, so better late than never," she said.

"On the Money" airs Monday to Friday at 3:30 p.m. and 6:30 p.m. on ANC (SkyCable Channel 27).

ABS-CBNnews.com is the news website of ABS-CBN Corp., which also owns ANC.