Growing up in a small province, Registered Financial Planner (RFP) Leonidelisa Abad knew firsthand what it meant to live in a cycle of debt. In her community, it was common for older siblings to finance the education of the next in line, often by borrowing money.
“Back then in our province, we are raised by… maybe it’s because of lack of financial education,” Abad told Financial Adviser PH. “So, alam mo yung umiikot, it’s just a cycle. So kailangan mangutang kasi you have kids, papaaralin mo siya, and then the kids will send out the next sibling when you’re done. The eldest… when you’re done in school, ito naman si next sibling susunod and that’s it. And I wanted to break that cycle.”
Learning to Stretch Every Peso
Her early years in a boarding school taught her discipline in handling money—sometimes in the hardest way possible. “Because I got a scholarship in Xavier, that’s far from our home place so I had to travel,” she recalled. “Kailangan mong magtipid kasi the next allowance will come in by Monday. So if I run out of money already, Saturday literally, Sunday I will just slip it over, gutom and then Monday, yeyy allowance na.”
It was a life that made her quietly determined: “My gosh, makakalabas din ako dito eventually.”
The Turning Point: Entering the Financial Industry
Abad credits her break from the debt cycle to her early career opportunities—especially in the financial sector. “I was very fortunate that I was employed in a financial industry. Very, very thankful with BPI-Philam because that’s where I learned a lot.”
Before that, she juggled multiple jobs just to keep afloat and help her family. “In my early twenties, right after my graduation, I was employed in a BPO industry… I worked for three jobs,” she said. “Sa madaling araw, I am a call center agent. Right after my shift… I will see my clients. I learn insurance very early, like early twenties. And then later in the afternoon, I do tutorials with my kids—Korean kids—English tutor or whatever subjects they want me to tutor. I think 250 for forty to forty-five minutes. So that is the only amount that I’m holding because the rest of the money have to send it.”
Although her parents were also working, the financial load was heavy. “I wouldn’t say breadwinner, I contribute… apat kasi kami [magkakapatid] and we go to college, all of us. So masyado siya mabigat,” she said.
Making the Hard Choices
Even opportunities had to take a backseat to financial realities. She recalled passing a law school entrance exam right after college, only to put her dream on hold. “I told my mom, ‘Ma, I passed the exam’ and then sabi ng mama ko, ‘Alam mo naman anak na marami pa tayo gagastusan, meron ka pang kapatid mag-aaral.’ And then I said, ‘Okay, I understand.’”
The Money Lesson She Wishes She Knew Earlier
Looking back, Abad believes her younger self needed one important reminder: “Save something for yourself.”
She explained, “It’s not about you not being generous, but… I wish that part of high school or kahit college, I learned financial literacy, whatever kind of literacy is that. Hindi lang yung basta save. Kasi diba we grow up like, ‘Oh kailangan mag-ipon,’ oh bakit nga ba mag-ipon? Paano nga ba mag-ipon ng tama?”
Building a Life Without Debt
Today, Abad takes pride in having avoided the trap she grew up around. “I would totally say I don’t have to utang. I don’t need utang. And [I’m] takot sa utang,” she said.
Her investments—both in pesos and dollars—have supported her family’s goals, even financing her master’s degree abroad. “If you have a dollar account, you invest also in dollar investment. Kasi dalawa yung kita mo doon, kita from the dollar and also from the forex. You’re earning two times.”
Passing On the Knowledge
Breaking the cycle wasn’t just about her own finances—it’s now her mission to help others. Through her work as an RFP, she created a personal finance module to guide people in setting priorities and choosing the right financial vehicles.
“You have to write… your smart goals. Yes, pwedeng-pwede ka mag-travel but you don’t have to ‘utang’ para lang makapag-travel ng ibang bansa. Priority muna—ano bang gusto mo?” she said.
Her advice is universal: “Write down your goals… categorize kung short term ba ito, long term ba. And then sulat mo kung anong vehicle that you can use. If you don’t know, ask.”
For Abad, escaping the debt cycle was never just about earning more—it was about learning, planning, and acting with purpose. “The earlier you learn, the earlier then… you can change your story.”
