The 16th Congress of the Philippines through Republic Act 10922, has declared the second week of November every year as “Economic and Financial Literacy Week”.
This is the government’s recognition of the importance of financial literacy to help the country grow. It hopes to teach people how to make sound financial decisions, mobilize savings, and encourage financial institutions to contribute ideas on improving economic and financial policies and programs.
This celebration has been happening since the Republic Act was passed last July 2015, and I’ve worked with various organizations for the past several years in teaching Pinoys how to save money, budget their cashflow, and invest.
I’ve always believed that building wealth depends much more on how much you save than how much you earn.
Proof to this are the countless people I’ve met who shared how their lives have significantly improved after learning how to properly save; that in spite earning just above minimum wage. On the other hand, contrast this to some of my clients who are earning six-figures every month, but are deep in credit card debt, and needed my help to fix their finances.
BDO Foundation efforts on Financial Literacy
This year, BDO Foundation the corporate social responsibility arm of BDO Unibank Inc. launched its advocacy on Financial Literacy.
In this special video below, BDOF President Mr. Mario Deriquito, shares with celebrity host, Ms. Ali Sotto shares some of the current & projects that are in the pipeline .
He mentioned that BDO Foundation has partnered with various government agencies such as the Bangko Sentral ng Pilipinas (BSP), the Department of Education (DepEd), the Philippine Army, and the Overseas Workers Welfare Agency (OWWA), to help them with these various programs.
Their hope is to help teachers, OFWs, and our soldiers on improving their lives through financial literacy programs, especially that these sectors are the ones which need financial education the most.
On the works is a series of webisodes focused on financial education and don’t be surprised seeing me in one of it, I know that these are year-long campaigns, and I’ll definitely write more about them here.
To catch BDO’s efforts on Financial Literacy’s webisodes & other offers, you may follow and subscribe to the BDO’s YouTube channel here.