Efren is one of the country’s most notable champions of financial literacy. He is a best-selling author, columnist and one of the most sought after speaker/trainer in the arena of personal finance. You will find Efren giving lectures all over the country educating hundreds of participants each time. There are also thousands of people who have benefited much from reading his two books. More than being notable, I am proud to say that Mr. Efren Ll. Cruz is perhaps one of the most respected individuals in the financial services industry.

I first met Efren after in 2006 after a class in Registered Financial Planner (RFP). Henry Ong, RFP President invited me to join their lunch Efren and his friend Atty. Caloy Ocampo. My initial impression on Efren was that he was a tad timid and very unassuming. He mentioned that he just wrote a book entitled Pwede Na! The Complete Pinoy Guide to Personal Finance which I ended up buying from him that day. As I read his book, I was enamored at the wisdom of Efren and I can discern his passion to help ordinary Filipinos get financially literate and achieve financial freedom. That fateful lunch was the beginning of my admiration for Efren, in fact I am proud to say that I am one of his earliest fans and I continue to be a fan!

Efren has an impressive pedigree in his area of expertise. He holds an MBA from the University of the Philippines and has been in the financial services industry for over 25 years, 18 years of which is in fund management. Efren is no stranger to managing wealth, working for institutions like Far East Bank, Grepalife Asset Management, Standard Chartered Bank and others. He is also one of the driving forces behind the mutual fund industry, serving at the Investment Company Association of the Philippines (ICAP) twice as President and once as Chairman. He also co-founded the Fund Managers Association of the Philippines. Efren has definitely earned the respect of his peers because of his hard work and dedication.

Efren is a favorite of many publications; as a contributor or columnists for Business Mirror, Moneysense and the Philippine Daily Inquirer. He is also a frequent resource person for many Radio and TV shows, too many to enumerate. He is one of the directors of the Registered Financial Planner Institute and a regular moderator of the program where he teaches on personal finance and investments.

One of Efren’s main advocacies is financial education for the workforce. Efren and his company, the Personal Finance Advisers Philippines Corp. has been in the forefront of providing financial literacy to many employees. He makes employers understand that it is in their best interest that employees are financially literate to ensure competitiveness and minimize work conflicts that will have a severe impact on bottom line. Efren Cruz has been actively seeking corporations to allow him and his company to teach their employees despite the great odds they face.

Another area where I admire Efren the most is that despite handling and teaching money all these years, he remains to be God fearing and always remind his listeners, participants and readers about the real purpose of wealth and money – to honor God, first and foremost.

I am so proud to say that Efren is one my esteemed mentors, an ally, a colleague and a most cherished friend. Efren, is on the top of my list as Personal Finance Champion. My prayer is that the country will have more Efren Cruz. Mabuhay ka Kuya Efren!

Check out his company website.

In the next few hours, I’m off to be a moderator for a session on an on-going International Conference on Poverty A

I’m currently preparing my talk for ‘Finance for Newlyweds’ for the Shangri-La BridalFair. My preparation made me remember a lot of financial mistakes we did in our 20+ years of marriage and it is only the grace of God that we survived those trials.

I thought about a lot of marriage breaking up and it seems that annulments have been increasing in the Philippines and has actually been more socially accepted. So why do marriages end? How can a couple who are really in love with each other end up hating each other? How did “till death do us part” become such a cliché?

I have heard many speakers, counselors and even Preachers say that money is the number one cause of separation by a factor of 4:1. While money is definitely a primary concern of many break-ups, there is very little factual data to support such a claim. However, many studies would put money as one of the leading cause along with communication, infidelity, wrong expectation, intimacy and commitment; although not necessarily the number one and by no means a factor of 4:1. Sorry to burst the bubble of some speakers, counselors and Preachers – I would urge them to double-check their facts.

Despite money not being the leading cause, it is definitely a concern for many marriages and can lead to the breaking up of marriages. I am not an expert in marriages and I have no qualms about telling people that I can be clueless as to keeping a ‘perfect’ marriage, just ask my wife! However, after two decades of being together, my wife and I managed to survive the many challenges in our marriage and most of those challenges are financial in nature. By God’s grace, I think our union will survive in the next 20 or so years.

Here are some suggestion married couples can consider with regards to finances in their marriage:

1) Communicate & be transparent – I find it disturbing that many couples are unaware of each others finances. Even the law acknowledges that a marriage brings union, including their finances and made provisions for conjugal properties. Bereft of any pre-nuptial agreement, a marriage solidifies the finances and everything as now co-owned. Statement of income should likewise be transparent; many problems erupt from false assumption. A wife might be yearning for better family lifestyle thinking that the husband’s income can sustain, only to be dismayed that it can’t. By being transparent and communicating properly, expectations can be managed.

2) Plan, plan, plan. Preparing a budget and sticking to one is definitely a conjugal exercise. I highly recommend that a couple sit down and discuss their budgets, how to disperse income and what to prioritize with their limited resources. A couple must agree on the budget and once a budget is set, they must respect each other by be faithful to the budget. Of course, some flexibility should be exercised as well.

3) Practice family financial planning.  Set up an emergency fund. Think long term — save & invest for the future. Buy life insurance (this really brings peace of mind). Prepare for retirement. Avoid getting in debt and if you need to take a loan like home loan, talk about it and get counsel first.

4) Practice stewardship. Many issues arise if couples don’t practice stewardship. They need to be responsible and accountable to each other and most especially, to the Lord.

5) Learn from other couples. This is not just about money management, but about marriage in general. Have mentors for your marriage and please chose those with a good track record for obvious reasons. You don’t need to learn by experience because it is way too risky to experiment with your marriage.

And here’s my most cherished tip for married couples, keep the Lord in the center of the marriage and everything will turn out great. “If they obey and serve him, they will spend the rest of their days in prosperity and their years in contentment.” – Job 26:11, NIV