The answer to this question depends upon what one's own ideas are regarding knowledge, reality, and existence. The study of philosophy, recorded as early as 585 BC, is immense. It includes two different definitions (to be discussed) and three different branches (natural, moral, and metaphysical philosophies).
Definition one refers to a particular system of thought ("my philosophy is..."). With this definition, one can assume that it should be valued by everyone. Given that each and every person possesses a set of beliefs that he or she calls her own, each possesses a personal philosophy.
Definition two refers to the academic study of knowledge, reality, existence, reason, language, and the mind. (This is the type of philosophy which Plato and Aristotle are famous for.) This type of philosophy holds value because it allows people to question life as it is. Without these questions, things will not change. For example, if one did not question why genocide was bad, Hitler would have succeeded at exterminating the Jewish people. If one did not question illness, cures and medicines would not have been created.
I associate philosophy with logical thinking and wisdom.
Instead of having a blind faith in something, there is logic to back up whatever it is.