Balik-Eskwela na naman! The thrill of picking out fresh notebooks, colorful pens, and cool backpacks can make the start of the school year feel like an adventure, but parents know what's coming: the long shopping list, a pile of bills and the fear of being bitin with back-to-school preparations.

But who’s to say that starting the school year has to drain your savings? With a touch of creativity and a bit of diskarte, you can kick off the academic year on a high note by making the most of what you have and managing your resources wisely.

Repurpose and Reimagine

To avoid the pitfalls of overbuying, before going on a shopping frenzy, unleash your creativity and go through what you already own. Revisit your shopping list and hold off on purchasing anything that’s not needed right now, doesn’t have to be new, or won’t have a big impact on your child’s education. Back-to-school shopping doesn’t have to be done all in one go!

Create and Collaborate

Back-to-school preparations don’t have to be a solo mission – get crafty and involve your kids. When buying bags and clothes, pick out options that fall within your price range for your kids to choose from. This way, you stay within budget and still empower your kids to make decisions they’re excited about.

Research, Research, and Research

Knowledge is power, especially during the back-to-school mayhem. Before buying a new gadget, read up beforehand to find one with the right specs that fit your kids' needs and your budget. Most of the time, the latest devices are souped up with features your child will never use. Take time to look for available discounts and installment plans to help manage costs.

Navigate School Expenses with GCash

While making the most of what you have can go a long way, the reality is that there will be times when you will still come up short, especially with higher prices and bigger expenses. In these instances, having a reliable and flexible financial partner that understands your struggles and offers a suite of solutions is crucial. And the best part? It’s already at your fingertips.

Amid simultaneous and urgent school expenses, finance superapp GCash offers lending solutions to help with education costs.

“Resourcefulness has always been in the blood of Filipino parents and breadwinners. We see you work tirelessly just to give your kids the best school year possible,” said XP Villa, Product Head of GGives. “At GCash, we want to honor that dedication by offering a helping hand when you need it most, so you can spend the back-to-school season making great memories with your kids.”

With GCash's GLoan, eligible borrowers can access loans ranging from PHP 1,000 to PHP 125,000. For select GLoan customers, this can be received straight to their GCash wallet within 24 hours of submission for pre-approved loans. This can be used for expenses such as tuition fees before the school term begins and can be paid with flexible payment terms of 5 to 24 months. Additionally, eligible borrowers can apply for multiple loans.

Meanwhile, GGives provides a solution for big-ticket purchases with light and flexible installments that allow partial payments of up to 24 months, all with zero down payments. GGives is accepted at over 110,000 GGives-enabled merchants nationwide, making it possible to purchase gadgets such as laptops and tablets and even other big-ticket items such as study tables and pay for them in installments without paying any downpayment or fees from their GCash wallet. GGives can also be used to pay for tuition fees of select universities using the Pay Bills feature on GCash.

GCredit, powered by CIMB, offers a credit line of up to Php 50,000 for eligible users, which can be used to pay for school supplies, groceries and other back-to-school essentials at over 100,000 GCredit-enabled stores and billers nationwide. With a prorated interest rate of as low as 0.17% daily, GCredit users get charged low interest if they pay earlier. Additionally, GCredit allows users to pay as low as 10% of their dues on their billing and/or due date.

“Every Filipino child deserves a chance to reach their full potential in the classroom. Our lending products are our way of helping empower families during this exciting milestone of back-to-school season,” said Villa.

To be eligible for GLoan, GGives, and GCredit, users must have a fully verified GCash profile and must continue using GCash and its services, such as maintaining a high wallet balance, regularly cashing in and paying your dues early or on time.

Access GLoan, GGives, and GCredit through your GCash dashboard or find it under “Borrow.” No GCash yet? Download the GCash App on the Apple App Store, Google Play Store, or Huawei App Gallery! Kaya mo, i-GCash mo!

Almost 5 out of 10 Filipinos have outstanding loans, according to the Bangko Sentral ng Pilipinas’ (BSP) latest Financial Inclusion Survey in 2021. Of this number, day-to-day expenses, emergencies, and fulfilling financial or life goals are the top three reasons why Filipino adults borrow.

However, only two out of ten Filipinos have access to formal financial services offered by banks and government institutions like the Social Security System (SSS) and Pag-IBIG, with some resorting to borrowing from individuals or lending companies with unfairly high interest rates.

Moreover, BSP notes that 25% of Filipino adults were forced to use up their savings during the pandemic, which means that on top of having to deal with everyday finances, they may not have enough cash to cover emergency expenses.

In line with its goal of making affordable loans accessible to more Filipinos, e-wallet app, GCash introduces new ways for Filipinos to conveniently manage their finances. On top of using the GCash app to pay bills, send money, buy load or pay for online and in-store purchases, users can now easily borrow money in the form of GLoan, GGives, and GCredit.

“We at GCash are working hard to give every Filipino access to fair loans not just to help them meet their basic needs but also empower them to achieve their life goals,” said Zo Canaria, FUSE Lending Growth Marketing Head. “Through GCash’s in-app innovations, we hope to give Filipinos an easy way to fund the lifestyle they deserve and fulfill long-standing goals they were previously unable to achieve due to financial challenges.”

GLoan: Fast-cash loan offering

GLoan, the loan product of GCash, offers instant cash up to P125,000 straight to eligible users’ GCash wallets, which can be used for starting or expanding a business, cover emergency expenses, celebrate special occasions or even to pay for different necessities. Through GLoan, eligible users can borrow from P1,000 to P125,000 as good as cash, with an interest rate of as low as 1.59%.

To borrow, users simply submit their loan application within the app with no additional documents needed and wait for the loan to be reflected straight to their GCash wallet within 24 hours. The loan can then be paid for as low as P265 a month for 5-24 months.

GGives: Light and easy installment plan

Meanwhile, GGives is GCash’ light and flexible installment plan which allows eligible users to purchase big-ticket items and pay for it in up to 24 months. GGives allows eligible users to purchase items amounting up to P125,000 in one transaction and choose their payment terms in installments from 3, 6, 9, or 12 months and up to 24 gives.

GGives can be used for both in-store and online purchase of selected merchants. Unlike other installment products, GGives does not require additional documents during application and does not need an upfront downpayment and processing fees.

GCredit: Always-ready credit line

GCredit, powered by CIMB, is an always-ready credit line by GCash that can be used to pay for select bills, as well as products and services in-store and online. Eligible users can get up to a Php 50,000 credit line that they can use for bills payment, online buys, and in-store QR purchases to cover everyday expenses.

With GCredit, users are only charged based on the number of days they borrow. This prorated interest means users who pay earlier get charged a lower interest. GCredit’s Minimum Amount Due also allows users to pay as low as 15% of their dues on their billing and/or due date.

To be eligible for GLoan, GGives, and GCredit, users must have a fully verified GCash profile and must maintain a qualified GScore, which is the app’s trust rating reflecting their GCash activity. GScore is the primary basis to qualify for GLoan, GGives, GCredit and enjoy benefits such as lowest interest rates and highest credit line or loan amount.

As your GScore is computed based on GCash activity, users must maintain an active GCash wallet balance by cashing in regularly and using different GCash services. For those who are already using any of the GCash borrow products, such as GLoan, GGives or GCredit, they must pay their dues early or on time to maintain their GScore and be eligible for future credit transactions.

Users may access GLoan, GGives and GCredit through the GCash dashboard or find it under “Borrow.” No GCash yet? Download the GCash App on the Apple App Store, Google Play Store, or Huawei App Gallery! Kaya mo, i-GCash mo!