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]]>However, a recent survey has highlighted why more companies including start-ups have started taking advantage of what other provinces can offer while considering several challenges in Metro Manila including high costs of living, chronic traffic congestion, saturated market, and high minimum wages among others.
In this article, we’ll lead you through why you should consider setting up your business in the provinces, highlighting both the advantages and the potential challenges that need to be addressed.
Why Companies in the Philippines Choose Manila as Their Location?
- Most entrepreneurs believe that Manila is way more developed than any other city in the Philippines.
- Manila has stable electricity compared to other provinces in the state.
- It’s the only city that has a well-developed metro rail transit.
- Most entrepreneurs believe that most of the universities that provide the workforce for local and foreign companies are found in Metro Manila.
- Manila is very populated and it will be easier to reach the target audience with less stress.
- Manila has a well-developed infrastructure and communication settings.
Key Reasons the Province is an Ideal Choice for Your Business
While companies have different reasons for establishing businesses in the provinces, these are the major reasons most entrepreneurs prefer provinces compared to the metropolis.
Lower Cost of Living
Compared to Metro Manila, the cost of living in most provinces is bearable which translates into lower expenses for businesses. Most especially, start-up businesses would flourish in provinces because of the affordability of commercial rent, utilities, and daily operational costs.
Additionally, as a business owner choosing a provincial location can reduce overhead costs, allow better financial flexibility and overall profitability. As a result, you can price your products or services more competitively in the market.
Less Traffic Congestion
Among many things, provinces have much less traffic congestion compared to Metro Manila which is always traffic congested. The effect is, metropolis traffic congestion mostly causes delays in delivery and commuting, affecting overall business productivity.
In contrast, as a result of less traffic congestion in several provinces, an established business has the advantage of faster delivery, smoother logistics, and more efficient daily operations. For example, a congested city will enhance the lateness of employees to the office, which will eventually hinder the overall business success.
Opportunities for Decentralized Growth
For years, business attention has always been on the metropolis leading to overcrowding and market saturation. Not until recently that there are establishment of start-up businesses and branched out of several companies to the provinces.
The fact is, starting a business in the provinces makes entrepreneurs tap into underdeveloped markets, foster economic growth in these areas, and contribute to more balanced national development.
In fact, the presence of more businesses in the provinces can also create job opportunities for locals, improve regional economies, and reduce migration to the already congested Metro Manila.
Lower Labor Costs
Compared to Metro Manila, the minimum wages in the provinces are generally lower, resulting in lower labor costs for businesses. Although, this doesn’t mean that businesses should make use of these lower wages to exploit their workers. Instead, it presents an opportunity to provide fair competitive compensation which attracts skilled workers locally.
Access to Untapped Talent
While many people’s attention has been on moving to Metro Manila for higher wages, the provinces are home to a wealth of untapped talents. By establishing a business in the provinces, you can tap into a workforce that is often overlooked but has strong local ties and loyalty. In fact, several committed, skilled and long-term workforces are available to contribute to the stability and growth of your business in the provinces.
Provincial Challenges That Need to Be Addressed
While there are several advantages attached to establishing a business in the provinces, it’s essential to acknowledge that businesses might strive to overcome some challenges to truly thrive. Some of these challenges can be solved either by the government or the entrepreneurs themselves. Below are common challenges and solutions.
1. Infrastructure Deficiencies
Challenge: Some of the provinces in the Philippines have unreliable infrastructures including poor road networks, limited public transportation, and inadequate internet connectivity, among others. All these challenges can pose a threat to the general operation of a business and reduce productivity.
Solution: It will be of great help if government prioritizes infrastructure development in the provinces. Basic programs aimed at improving roads, expanding transport options, and upgrading internet services should be introduced by the government. In addition, businesses can also invest in alternative power supplies like solar power.
2. Higher Cost of Energy
Challenge: In some provinces, energy costs are significantly higher compared to Metro Manila. These areas can be a major burden for some businesses most especially, start-up businesses. Also, businesses that rely on power supply or electricity might find it difficult to flourish in these areas.
Solution: The government could help by introducing subsidies or incentives for new businesses in these provinces. Additionally, businesses can also explore using energy-efficient technologies such as solar or wind power.
3. Limited Access to Markets and Suppliers
Challenge: Businesses in the provinces might have higher risk of reaching target markets and finding suppliers due to their distance from the center of commerce. As mentioned above, due to poor road connections, it might be difficult for suppliers to supply some businesses situated in local provinces.
Solution: While businesses can make use of online platforms to connect with their wider audience, the government should also provide perfect transportation and logistics infrastructure to encourage smooth and easy access to the markets.
4. Attracting and Retaining Talent
Challenge: While there are several talents in the provinces, we should also acknowledge the possibility that getting skilled workers and professionals might be difficult in some provinces since there is higher migration of professionals to the metropolis in search of higher wages and better career opportunities.
Solution: Government and entrepreneurs can help by providing non-monetary benefits like flexible working conditions, a positive work environment, career development opportunities, and others to attract and retain skilled employees.
5. Lack of Government Incentives
Challenge: Many provincial areas lack the financial incentives that would encourage more businesses to set up there. Unlike special economic zones or industrial parks that often provide tax breaks or reduced fees, provincial businesses may face more operational and regulatory burdens.
Solution: The government can offer more substantial incentives to businesses willing to start operating in the provinces. These incentives should include tax exemptions, fast-tracking business permits, licenses, and others, especially for start-up businesses.
Conclusion
The goal of every company is to be situated in a greener pasture and a perfect location that can guarantee their business improvement and productivity. This is why the majority of entrepreneurs focus on establishing their businesses in Metro Manila among other provinces in Philippines.
However, the argument is, while businesses flourish in the metropolis, there are high chances for businesses to do better in the provinces with the help of the government and the creativity of entrepreneurs as a result of available advantages provinces have including, lower cost of living, less traffic congestion, lower labor cost among other.
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Due to unrestricted rice imports, some farmers are forced to sell their harvest at P7 just to compete with imported rice, much lower than the cost to produce it at over P12.
But did you know that you can help farmers and earn at the same time? It is through crowdfunding.
According to the Department of Trade and Industry, Agriculture has 7.3% share in Philippine GDP in 2018.
It’s really sad knowing that we are an agriculture country but we are still among the top rice importers in the world.
I came from a family of farmers and it’s my parent’s main source of income.
It’s also one of the main reason why I and my siblings were able to finish college.
However, if we depend on that alone, graduating from college might just be a dream for us. However, I still believe that there is still some hope in Philippine Agriculture.
Two years ago, I discovered that I can earn from agriculture while helping local farmers at the same time. Until now, it’s giving me a passive source of income.
These are the three companies that can help you earn money without going into the process of tilling the soil.
FarmOn.ph is a crowdfunding community where people can help farmers on their financial needs and at the same time reap rewards for their contributions. It was established in 2014 and currently owns 96 hectares of farmland property located in Isabela and Quirino Province
It is a crowdfunding community wherein investors (farmoner) select which crops (such as papaya, petsay, string beans, legumes, varieties of pepper and others) or livestock (such as pigs, goats, ducks, and chickens) they will choose to invest in a particular cycle. Once the company harvest and sold their products, you will get a profit from it.
You can invest for as low as 1,500 to 9,000 per plot. The maximum investment per cycle is P300,000. They accept contributions once the cycle opens which is usually announced on their Official Facebook page and their website.
It is also a crowdfunding platform that is a globally recognized organization whose development is being supported by institutions in the U.S.A, Netherlands, Malaysia, and the Philippines. It is a social enterprise providing farmers access to scalable and sustainable financing.
Use cases and historical statistical data show rates of returns for users, ranging from 3% to 30% in less than 6 months. Their minimum investment per farm is P5,000 and maximum investment per farm is P15,000.
They also announced whenever they are open for investment through email but you can register on their website anytime.
Established in 2014, Situated in Balibago Lian Batangas and occupies an eleven hectare of land. They also have sub farms located all over the country. DV Boer farm is a breeding haven of full-blood boer goats directly imported from Australia.
Their minimum investment for their Paiwi is P10,000 to P1,060,000.
Final Thoughts
Investing in farms just like other forms of investment still has some risk involved.
Risks arise from adverse weather conditions such as drought or excessive rainfall at harvest or planting.
Putting your eggs in one basket is still not advisable. We also have to keep in mind that we need to have an emergency fund and life insurance before investing.
Related Article: How to save your first 100,000 pesos in one year
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]]>Nagmula ako sa isang pamilya ng mga magsasaka, payak ang aming pamumuhay ngunit batid ko ang hirap makakain lang kami ng tatlong beses sa isang araw. Wala kaming sariling lupain na binubukid at hindi nakatapos ng pag aaral ang aking mga magulang. Pero nakita ko kung paano sila nagsakripisyo, nagsikap at naging matatag para mapagtapos kaming limang magkakapatid.
Nasaksihan ng aking mga mata na hindi patas ang tingin ng lipunan at ng batas sa mayaman at mahihirap. Pero hindi nangangahulugan na kailangan kong magmumukmok na lang sa isang sulok at magrereklamo sa gobyerno dahil nagkulang sila sa suporta sa tulad naming maralita. Hindi ko rin nakita ang pangangailangan na magalit ako sa mayayaman dahil mayaman sila at mahirap kami.
Natutunan ko na maari tayong maging masaya sa tagumpay ng ibang tao. Hindi natin kailangang pagsabihan ng masama ang isang tao, para maramdaman natin sa sarili natin na pantay lang tayo. Hindi natin kailangan hanapin ng mali ang ibang tao para masabi natin sa sarili natin na tama tayo.
Kung gusto mong magtagumpay, magsikap ka. Kung nakikita mong may na aapi, ipaglaban mo sila. Kung nakita mo na may mga taong nagugutom at naghihirap sa lipunan, gamitin mo itong inspirasyon para magtagumpay ka at maging daan para maiaangat mo sila. Kung nakita mong ang daming tao ang walang trabaho at hindi sapat ang sweldo, gumawa ka ng trabaho para sa kanila.
Totoo na maraming tao na naging mayaman sa masamang gawi pero mas maraming mayaman ang naging mayaman dahil nagsakripisyo sila maabot lang ung mga pangarap nila. Maraming masamang tao sa lipunan pero mas marami ang mabuti. Pumili tayo kung alin ang gusto nating itatak sa ating isipan. Pero hindi nangangahulugan na ipagsawalang bahala na lang natin sila, gawin natin ang tama at hayaan natin manaig ang kabutihan.
Related Topic: How to save your first 100,000 pesos in one year
Ang maging mayaman ay hindi kasalanan. Ito ay isang oportunidad para matulungan mo ang mga maysakit at naghihirap. Pero kung isa ka sa mga taong kumakayod at nagsisikap para maabot ang iyong pangarap, marami ring maliliit na paraan para makatulong.
Ang pera ay hindi destinasyon, ang pera ay paraan para marami kang matulungang tao. Di dapat habambuhay tayong magtatrabaho para sa pera, mag impok tayo at hayaan natin na pera ang magtrabaho para sa atin. Sa ganun, mas marami tayong oras na mailalaan para sa mga mahal natin sa buhay.
Credits to: Freepic for the featured image.
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Some of you might think it is impossible to save 100,000 pesos for a minimum wage earner or for someone earning 15,000-20,000 pesos a month. Don’t worry, I also have that same thinking when I was in a corporate job.
The truth is, it’s very possible. I remember hitting that 100,000 pesos goal at the age of 22, it was six days after my birthday. It might not sound so impressive for some but for me it was a big achievement knowing that I am only earning 20,000 pesos a month, renting an apartment in Manila, commuting to work and providing financial support to my family.
I am only earning 16,000 a month from my first job. However, it feels like a really big amount for me since I have not earned that kind of money in my entire life. I know I will be able to save a lot of money and things will work out well for me but it didn’t. It’s been six months working in a corporate world and I can say, I’m totally broke. I even had days trying to withdraw fifty pesos from my debit card, desperately broke.
One day, I realized I should not live a life like this. I feel like I’m worse than my 15-year-old self. I look for ways on how I can grow my money. I found an online brokerage company and start my first investment in the stock market. Starting at that time, I learn a lot of things in saving and investing money. I know you can do it too.
Related Topic: How Did I Start a Business at the Age of 15 and How Can You Do It Too
Set a goal. We should always begin with the end in mind. The starting capital in the stock market used to be 5,000 pesos and for me to start, I had to save that amount. I did it in three months. Looking at my money grow by itself gives me discipline in saving money.
Make some arrangements. If you are someone giving financial support to your family, it might somehow prevent you from achieving your own goal. I know it’s part of our culture to give back to our family, especially our parents. However, we also have to think about ourselves sometimes. What I did was, I told them that I can only give them this specific amount of money. Let’s say 5,000 a month.
Know the right definition of needs and wants. It might sound easy but it’s not. Needs is something you can’t survive without it. Wants is something can live without. Though the definition is subjective to a person. Traveling is a want for me but it is a need for travel vloggers since it is their job.
Make your money work for you. As I mentioned above, I start investing in the stock market which is one of the ways to earn a passive income. Through this, it reduces the time that you have to work for money. There’s a lot of different investment nowadays, UITS, mutual funds, stock market, VUL, and forex.
Increase your psychological wallet. If you think 100,000 pesos is a big amount, you will never have this money. You’ll earn it probably but you will easily lose it. Imagine those lotto winners, most of them end up being poor because their mind can’t handle having that huge amount of money.
Earning 100,000 is not really difficult as long as you follow all these strategies I stated. There’s also a lot of strategies that you can learn online. What’s really difficult is keeping this money with all the temptations of spending.
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Do you think entrepreneurial spirit can be taught or it’s an innate skill?
As for me, even though I started at an early age, I think it can always be taught and developed.
It was my first time having a mobile phone when I was still in my fourth year in high school. Most of my classmates already have theirs at that time. I feel I was a bit late and missed out a lot but I think it was the best opportunity for me to start a business.
I already have my prospects so I started my loading business, my first business. My parents also own a sari-sari store at that time so I told them that I will sell mobile loads in our neighborhood.
Related Topic: 5 Ways on How to Turn Your Ideas to Reality
My business is doing well and I was able to save up thousands of pesos. I purchased a new mobile phone and a brand new laptop out of my profit. Doing projects and assignments became easier because of this. I don’t even have to ask for money from my parents to buy materials from my projects and for photocopies of our lectures.
Since buying a book is expensive we just rely on photocopies for our lectures. However, most of our budget goes there. I thought it would be a good opportunity to start a new business. I bought a printer with copier and start a printing and copier business.
Why did I do all this?
Aside from the fact that I see everything as an opportunity for me to do something I always have a deep why. I was born poor and I don’t want to die poor as well.
What’s your biggest why?
Credits to freepik for the image.
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Try to remember all those money you spend for the past three months. Do you still remember where did it go? If not, you need to see the benefits of tracking your expenses. It was made easy with income and expense tracker available online.
I always track my expenses and became a habit for more than a year. I stopped recently since I had a problem with my online banking account. I was only able to recover it until I proactively asked them to disable my old account so I can create a new one instead.
Last night, I am super excited to track my income and expenses. To my surprise, I lost 40,000 from net worth. I know it was my mistake since I am not making conscious spending but if I know I am already spending money more than than 50% of my income, I would surely stop.
Imagine, just because I did not track my income and expenses, I lost 40,000. These are the reasons why it is important to have an expense tracker.
It will easily help you achieve your target. If you are preparing for the education of your kids or saving for your dream house, you can easily break down your target amount into months. If your target savings is ₱120,000 within a year, then you can save ₱10,000 monthly.
It will reveal your bad spending habit. A part of an expense tracker is a category of where your money is being spent. By looking at your expenses at the end of the month you will see if you spend too much on food, entertainment, transportation, and clothing. Once you get the idea, then you can make a conscious effort on fixing your bad spending habit.
It will help you prioritize your spending. If you have a budget tracker, you can easily choose what expenses you need to get rid of and what expenses are very important. Knowing what needs and wants will guide you in every decision.
Sometimes it would feel like you are limiting yourself with your hard-earned money when you are tracking it. However, if you get used to it, will minimize or possibly get rid of financial worries. It will also help you achieve your financial freedom and spend money without limitation.
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]]>It’s always been a debate of what life insurance is best, Variable Universal Life (VUL) or Term Insurance.
VUL is a life insurance that has an investment component. Meaning, a part of your payment goes to the charges(insurance charge, administrative charge, etc.) and the remaining amount goes to the investment portion. This type of plan has a payment term of one time, 5 years and 10 years. If the investment fund value is not enough to cover the charges, the insured need to pay for the charges to stay in force. You are covered until age 88.
Related Article: What is VUL?
On the other hand, term insurance has to be paid for life. It is more affordable compared to VUL in terms of the premium. However, the premium goes up every 5 years until the end of coverage which is 75.
I will be making a comparison between Sun Maxilink Prime (VUL) and Sun Safer Life 5YRCT (Term Insurance). I will be using a Face Amount of 1 million and a death benefit of 200% meaning it is a 2 Million Death Benefit. It is for a 25-year-old male, non-smoker.
Years of Coverage
For VUL, you are covered until age 88 and for Term, you are covered until age 75. Meaning if you outlive 75 then you are not insured anymore. For VUL. you will be given the whole fund value if you outlive the maturity period of 88.
Paying Period
You have to pay the premium of a VUL policy until the 10th year not unless the fund value is not enough to cover the charges anymore. For term insurance, you have to pay it until age 75.
Premiums
It is more affordable to pay for the premium of term insurance compared to VUL. That’s only if we will compute for the premiums within 10 years of VUL and 10 years of Prime. However, if we will compute for the sum of premiums for a VUL for 10 years and the premiums of Term until age 75. It is cheaper to get a VUL.
Maybe, it would be unfair to compare premiums since VUL has an investment component included. I decided to compare only the charges for the insurance of both plans. I added the charges of a VUL until age 88 and I got a total amount of Php 2,436,528. Meaning the charges is higher compared to the death benefit of 2,000,000. A difference of Php 436,528.
I did the same computation for term insurance. I added the premiums of the Term since it will technically be considered as the insurance charge also. The got a total amount of 1,144,350. It only means that it is 53% lower than the VUL. Refer to the figures below.
However, we are comparing the charges 63 years worth of charges for VUL. (88 maturity age)-(25 age of the insured)=63 years to a Term which only has 50 years worth of charges. (75 covered age)- (25 current age of the insured)=50 years. See figures above. It only means that there is no doubt that the charges of VUL are higher.
To make the comparison fair, I only computed the charges of the VUL until age 75 to make it the same as the covered age of Term. To my surprise, the total charges of VUL until age 75 is only Php. 838,855. It is 27% lower than the Term which is 1,144,350.
Conclusion
If you say Term is cheaper than VUL, then it will only apply to the current cost of both insurances if anything happens to you earlier than you expect. If you look at the long term cost of both insurance, VUL is cheaper.
If you don’t want to stress yourself paying for the insurance for life, go with VUL since you have an option to pay it 1, 5 or 10 years of premium. However, your investment fund value may not be enough to pay for the charges until you turn 88 if the investment did not turn out well. Another advantage of VUL is the flexibility of payment, it doesn’t lapse right away if you were not able to pay within the grace period.
In the battle between VUL and Term Insurance, both have the same advantage. It will always depend on what is your life and investment principle.
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“Nakapagsapalaran ako sa Maynila at eto na ako ngayon…”
From teleseryes, movies and true to life stories tell us a story of people who took a chance to live in Manila for a better life. Is there a better life ahead for anyone who will choose to make a living here?
Metro Manila is indeed a melting pot with a population of 13,698,889 according to World Population Review. I’ve been living in Manila from my province Oriental Mindoro for almost 4 years now. I’ve seen the best and worst of this place. I can say, a better life depends on every small decision you make, from choosing a place to stay, the job you’re about to take and to your lifestyle.
Here’s why living in Manila is not always the best decision:
IT HAS THE WORST TRAFFIC ON EARTH
The time you should have to spend for side hustle, time with family and time to rest is now wasted. Sometimes instead of commuting to save money, most employees choose a ride on a taxi or Grab since it is more comfortable and faster.
HIGH COST OF LIVING
Renting an apartment and even getting a bedspace is expensive. Everything you see cost fortune. You have to buy drinking water, vegetable, and spices on food that you can get in the backyard if you are in the province. Yes, NCR has a high minimum wage but do you think it’s worth the sacrifice.
THERE IS TOO MUCH POLLUTION
Air pollution, water pollution, and even sound pollution are alarming. Your health is always at stake which is expensive if we get sick. According to the World Health Organization (WHO) our country had the 3rd highest number of deaths due to air pollution.
THERE’S A LOT OF PLACES YOU CAN GO
It looks like it is an advantage because if you are bored, you can go anywhere you want. The problem is, you are tempted to spend money on fast foods, fancy restaurants, theaters, and malls.
CONCLUSION
There’s a lot of opportunities in Metro Manila since most business establishments are located here. No question why most Filipinos chose to live here over living in the province with their families. However, with the increasing population comes with the increasing cost of living. More cars mean a lesser chance of you getting home on time. More houses and establishment means lesser space for people to live in.
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“ Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like. ” .
Will Rogers
We are living in a purchasing driven society. Technology and social media contribute a lot to this. There are now multiple ways to spend our money with just a tap on our screen.
We can easily book a hotel, car, and flights online. We can purchase items like bags, shoes, and appliances. We can make an easy decision about what brand of car we should buy or what house we should purchase.
Without knowing, it affects every decision in our lives and even describes who we are. These are the signs that you are materialistic without knowing it.
1. You are always on the shopping website whenever you feel bored.
2. You already have a plan of what to buy on your payday.
3. The cash value of your material possessions is bigger than your savings.
4. You can always think of what to sell when you run out of budget.
5. You own a car but with no savings.
6. You always have the latest gadget but always runs out of budget.
7. You are obsessed about material things and store them but never really use them.
8. You are always at the shopping malls especially when they are on sale.
It is difficult to admit but it’s part of being self-aware. I also have terrible buying decisions in life but I was able to fix it easily. By being aware of what’s messing my savings and what causing me stress helps me a lot.
Remember, treating yourself doesn’t always mean buying material things. According to research, people who spend money on an experience is happier than buying stuff. However, any spending regardless if it’s for material things or experiences should always be in moderation. Always choose what matters.
Related Post: How to save your first 100,000 pesos in one year
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]]>The Philippines ranked 115th in Standard & Poor’s Global Financial Literacy Survey last 2015.
As a licensed teacher and someone who is practicing a profession in the finance industry, I see the importance of linking these two, education and finance.
Teaching Filipinos about money starting in school will give us the discipline on how to value every peso that is coming in our pocket. There’s a lot of talented and skilled Filipinos but they choose to work abroad because they think there are more opportunities outside and they will be paid well. These individuals can even create their own business based on their skills with proper education and money management.
These are the reasons why money should be taught in school.
We need to know the difference between legal investment and scam. We have recently heard news about people being scammed because of a high return on investment (ROI) which entices them. As a result, people are afraid to invest even in legal investment because they think it is also a scam.
We choose to loan money than to invest. Most of us think that loan is free money but that truth is we are just delaying the payment. We also have to pay it with interest. It is a practice of delayed burden rather than delayed gratification.
Even professionals get broke. It’s not about our income, it’s about how much we save from our income. We were taught that if you study hard and get a good job, you will be financially successful. It’s not always true. Poor spending habit, lack of savings and lack of financial knowledge might cause a financial headache.
Some teachers don’t know how to manage their finances. Government employees are given a lot of privilege to apply for a loan. As a result, most of them take advantage of it but it eats up their monthly income. Teachers should be financially educated so they can be a role model for their students.
We are unaware of government benefits. It should be a part of the curriculum especially for graduating college student to be taught about SSS/GSIS, taxation, PAGIBIG and Philhealth. In that way, people will not only see it as a tool to file a salary loan but a tool that can supplement their daily needs.
We became materialistic. We are wired to acquire and spend on things. All the advertisement online and on television, encourage us to spend our money on them in return for an item or services. It became worst when social media came in, OOTD’s and selfies encourage us to spend so we can post something online and never miss out on anything.
We think rich people are greedy. Having a lot of money doesn’t have to be a bad thing. I know a lot of rich people who spend most of their money on charities. When we have a certain mindset that rich people are bad and greedy, it prevents us from reaching a wealthy and comfortable life as well. Remember, money is not the root of all evil, it is the love of money.
Our country needs a lot of future business owners. The main contributors of Philippines GDP are coming from BPO sectors and remittances abroad. All of these jobs are created by people outside our country. If we can nurture our next generation to start a business, there will be more jobs. More Filipinos will live a happy life spending most of their time with their love once.
Recently, a senator proposes to include financial literacy in school but there’s still a lot of things to do. Other countries like Norway, Sweden and Denmark topped the Standard & Poor’s Global Financial Literacy Survey last 2015 and Philippines only rank 115 out of 144 countries with 25% of adults who are financially free.
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