How to financially survive COVID-19: Bo Sanchez shares advice
MANILA, Philippines — After recovering from COVID-19, motivational speaker and preacher Bo Sanchez shared how he financially survived the cost of having the dreaded virus.
Bo announced last March that he and almost everyone in his family contracted COVID-19. According to him, the pandemic separates the wise from the foolish.
“During good times, it’s easy to pretend that we’re okay financially, because money flows easily and major financial mistakes are covered up by good cash flow. But crisis is brutal – it separates the wise from the foolish. When money stops flowing, we realize how ill-prepared we are to meet our needs,” Bo said in a statement sent to Philstar.com.
Recently, Bo shared in one of his vlogs the financial challenges he encountered when he was sick. While he was able to save on massive fees by receiving treatment from his own home and using a second-hand oxygen concentrator, costs for medicine and other necessities still continued to pile up.
Before he became known to many as a successful spiritual leader, Bo actually came from humble beginnings – living with only P800 a month as his missionary allowance. Through thoughtful planning and making the right financial decisions, he has built income streams and improved his financial capacity to be a more effective entrepreneur and preacher, a method he openly shares with the public as a form of service. Even then, when COVID-19 struck, Sanchez found it challenging to face the costs that came with his diagnosis.
“Seeing my expenses were very real. It broke my heart when I realized how difficult it would be for others, especially those who got hospitalized. I had an emergency fund, built after many years of investing and saving, but I knew that many didn’t. So I really believe GInsure is a gift. [It] has solved two of the biggest obstacles: affordability and accessibility, and I’m very happy that this is now available to many people,” he said.
GInsure Cash for Dengue Cost with Free COVID-19 Coverage (CFDC) is an affordable and accessible insurance product by digital wallet service provider GCash, powered by mobile-first insurance provider Singlife. It is among some of the avenues that can help cover COVID-19 costs for up to almost half a million, and the pocket-friendly protection costs as low as less than P1 a day. GInsure CFDC can also be easily availed using the GCash app, with the entire application process and all approvals done within.
Today, Sanchez continues to teach and inspire others virtually through his YouTube videos in hopes of helping improve the financial situation of Filipinos. He generously gives advice on handling finances better and protecting everyone’s financial future – a topic that is all the more relevant now in the middle of a health and financial crisis.
“I know a lot of people who have no choice but to go to work every day and so [having an insurance] is a great back up plan. At least the financial challenge is already cared for,” he mentioned in his vlog. “A lot of people think that they will never have COVID-19 or that if they’re going to have [it, they will be] asymptomatic. I will recommend that you do not become overconfident – COVID-19 can hit anyone,” he warned.
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