To our valued clients,
Much has happened in over three months. The coronavirus pandemic has interrupted life in an unimaginable way, causing extreme strain to governments, businesses and people. Economic anxiety was imminent with almost all suffering the brunt of this global health scare. Further, as the effects of the lockdown swept through, in which the country has closed off its borders and imposed strict stay-at-home restrictions, many were confronted with financial hardships. It has magnified concerns on our financial health, with risk of significant reduction and even loss of income due to possible illness, layoffs and temporary closure of workplaces. Sadly, many individuals/families even struggled to get by, forced to tap their nest eggs for buying/paying essentials. This health crisis has raised anxiety among people as finding the new normal can be challenging with an end to this phase still unknown.
Saving and planning for the future can be difficult at this moment of uncertainty and for most who are currently experiencing income volatility and lack a stable financial cushion. Certainly, this pandemic and the resulting economic downturn had forced many of us to put our financial goals on hold. Maintaining a savings mindset, however, could keep our focus on the long-term. It is important to know how to manage our funds to improve financial security and how to pivot without giving up our goals altogether. The discipline to save and invest also becomes all the more important now since full economic recovery may take its time. By taking simple actions, you can help protect your way of life far into the future. Stopping is different from adjusting. Even if it’s a very small amount, it is vital to try to keep going, keep the momentum moving and keep benefiting from compounding.
As we veer towards this “new normal” with the General Community Quarantine (GCQ) imposed in almost all regions in the country, we see a streak of optimism in the horizon. While the pandemic bruised the economy, hopes of rebound is bound to mark its way alongside reopening of businesses and people reporting to work. Note that the reason the economy has dropped so sharply is because we have a global pandemic happening. But that doesn’t change the fact that the fundamentals of our economy are good and strong. Also, with the advent of the MGCQ/MECQ, let M now stand not for ‘Modified’ but ‘Matibay/Matatag’ as we come through this crisis stronger and more ready to weather any financial storm.
We at CAMCI remain to our commitment to provide resources in managing your finances during these difficult stretches. As we move through this unprecedented time, a time when we are worried about our financial futures, let us assist you with the access to funds needed to build financial security. Let CAMCI provide you the professional help needed to help you stay on track with your financial goals.
TOGETHER, WE WILL RISE.
Mr. Artemio A. Tanchoco, Jr.