From housewife to leader: Career and money wisdom
MANILA, Philippines — It’s hard to imagine lawyer Liwayway Vinzons-Chato as a housewife sewing curtains, cooking family meals and cutting her children’s hair. That’s because for those in the know, she has broken many glass ceilings for women throughout her career in public service.
Most would remember her as former commissioner for the Bureau of Internal Revenue (BIR) during the late president Fidel V. Ramos’ administration. Her commitment to financial reforms earned her recognitions both here and overseas. Following that successful stint, she won the congressional seat for Camarines Norte, and on her return to private life, ran a legal firm while making sure to continue to give back by becoming a champion for children’s rights.
That’s a pretty impressive professional resume that believe it or not, started with Chato “barefoot and pregnant” in the kitchen.
Can you share your academic background and how it prepared you for your career?
At age 18, I graduated from the University of Sto. Tomas with a Bachelor of Arts degree with magna cum laude honors. Four years later, I graduated from the University of the Philippines College of Law. While there, I got involved in student politics as a University Councilor and was even awarded one of 5 Most Outstanding UP Coeds. At age 23, I was already a full-pledged lawyer.
But the following year, I married a fellow UP law alumni and lawyer. For the next decade, we grew our family and now have five children. In the first two years of our marriage, I put my career on hold to take care of the family and our two kids then. I learned sewing, cooking, cutting my children’s hair, and other useful skills.
Even at housework, it seems you were an overachiever. What made you decide to start working?
I went back to work on the advice of my mother. She espoused the belief that a two income family, with both husband and wife earning a living, would fill the family coffers faster and contribute to a more stable and comfortable family life. Coupled with that is her advice that married women should have a career or earnings of their own to protect and prepare them for all eventualities in life. We may not like to think of them, but marriage separations, death, illness or incapacity or inability of a spouse in earning a living do happen.
Growing up, I had very good achiever parents as my model with a strong family, social and spiritual upbringing. My father, Fernando, was a businessman-trader turned politician and civic leader. My mother, Aurora, was a teacher turned businesswoman and civic leader. Both instilled in me the value of thrift and savings.
After decades of running a successful law practice, you were invited to join the Ramos administration as BIR commissioner. Why did you say yes?
At that time, government offices were categorized under the 10 most corrupt agencies and BIR was included in this list. I’m proud to say that during my term from 1993 to 1998, the BIR was removed from this list and even included among the top 10 most efficient government agencies.
I was equally honored to be the first woman BIR commissioner. This gave me the opportunity to break the tradition of male dominated ranking officials in the BIR by the appointment of two women deputy commissioners and opening other women to the top positions such as assistant commissioners, regional directors, and revenue district officers. It was during my term that gender equality was introduced and institutionalized in the BIR.
During regional conferences, I learned that I was, in fact, the first woman tax commissioner among the Asian Tax Administrators in the countries comprising the Study Group for Asia Pacific Tax Administration Reforms.
From the first woman BIR commissioner, you went to becoming the first woman representative for Camarines Norte.
It was an opportunity to give back at the national, regional and community level. I legislated for the lone congressional district of Camarines Norte to be divided into two districts. This led to double the funds and projects allocations, and hastened development in my province.
I also initiated and funded the Barangay Improvement and Development Action Program to improve access to funding and further implementation for the priority projects of the Camarines Norte barangays. Due to this program, certain barangays were able to establish livelihood projects, like health clinics.
I also authored the law that reduced the percentage tax to two percent from five percent on life insurance premiums to enable and encourage more people to have life insurance cover for their protection and as an estate planning tool. My original bill was an exemption for this life insurance premiums since only the Philippines and Malaysia were imposing this while the rest of the countries in Asia did not. As a compromise, we agreed to the two percent reduced tax rate. Now, only the Philippines and Thailand are imposing a two-percent premium tax.
You also had a great 12-year run as chair of World Vision Development Foundation (WVDF). What drew you to their advocacy?
After I lost my bid for a Senate seat, I became involved with WVDF, Philippine affiliate of an international Christian NGO focused on children’s welfare and development. I served as board chair for 12 years, board trustee for 24 years, and remain as a foundation member.
It was in World Vision that I have learned, in better ways, to share my time, talent and treasure. I was able to expand the work of WVDF, to encompass not only Child Sponsorship Program but also the Community Savings and Credit Association Program that benefited the families of the children under its sponsorship. While chair, we also organized an independent microfinance company, the Community Economic Ventures Inc.
You mentioned estate planning earlier, and this is another advocacy that you champion: empowering Filipinos, especially women, to gain financial independence.
I’ve been invited to give talks on estate planning by banks and insurance companies, and I always tell my audience to plan for the worst of times. A good and well-crafted estate plan, with the help of experienced professionals, is a plan for the worst of times. The most common mistake by almost everyone, not just women, is the lack of urgency and consistency in preparing for the eventualities of life. Without a properly documented plan, they risk losing all their hard-earned money and assets. This is where estate-planning would be most helpful.
Think of how you plan for a trip or journey. If you want your travel to be successful and meaningful, You don’t just leave on a trip or journey without a plan. You would consult a travel agent to help in preparing for the destination, learn the costs involved, the facilities you need considering the purpose of your trip, the timetable, the itinerary, and the maximum success and enjoyment you expect from the travel. The same is true with your travel or journey of life.
What life wisdom, for career and money, would you share with women, even men, today?
Create a vision of the life you want to live, put it down in writing and review this often, so you can remain focused on this vision.
Value and honor your family at all times, particularly your parents, your spouse, and your children, if any, for the support given and they can give in those moments when you need them most. Pray for a good spouse or life partner who would be supportive of your work and your earnings. My husband and I shared all family expenses but most of our savings and investments came from my husband’s initiative and hard work. I am thankful for my husband’s role in this regard and in all other endeavors of my life.
Learn to share with others, particularly those in need, of everything that you own and possess. This will take a lot of commitment, learning, and practice.
Finally, live well the seasons of your life. There is a time and season for everything. You have your seasons of youth, marriage or single blessedness, child-bearing and child-rearing, middle-age, and advancing years. Enjoy and value each season of your life and be happy and grateful for everything that you experience, good and bad, together with all the people you meet in each or all the seasons of your life.
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