Are you financially stressed?
Monday, June 16, 2014
A recent study revealed that borrowing to pay debt was the largest cause of financial stress, followed by lack of money skills and living beyond ones means. The high costs of living came at the bottom of the list, after having too many dependents.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...