Financial Awareness for Students

[makie]

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First of all, I am a broker connected to IMG and I would like to create financial literacy awareness to students.

Lack of financial management is one or if not the main reason why most Filipinos struggle financially irregardless of the amount of income that they earn. The solution to the looming financial crisis that has hit most Filipino individuals and families is simply improving one's financial IQ. Achieving financial independence and freedom is not about how much do you earn, it's all about how much do and can you keep in savings and investments.

Have you ever noticed and wondered why do these things happen:

*Most "professionals" struggle when it comes to money?
*Why people who earn a lot (such as OFWs) have huge amounts of debt?
*Why only a very few people get to achieve financial independence and their dreams while most continue to struggle in the rat race?

On those kind of questions, everything boils down to lack or low financial IQ.

Everybody are being encouraged to go to school in order to learn and develop the knowledge and skills in order to have a good career. However, that is only the first part of the equation. Schools never teach anything about money management and financial planning hence, at the end, most that you'll earn in the future may end up in either nothing or in liabilities or will simply be mismanaged.

This is what this thread is all about, to increase the financial education awareness of students.

Here are some staggering facts:

*Less than 2% of the Filipino population invest in the stock market
*Only 10% of Filipinos are saving up for their retirement
*90% of people make a budget, only 33% can stick to it
*84% of the working class have no formal financial plan or strategy

We are striving hard to change those stats for the better.

Though IMG is a financial brokerage firm, the intention of this thread (again) is to increase financial awareness among students and not to engage in business or any transactions.

To those who are interested, you can post your concerns or questions about financial planning, management, or awareness or those who have inputs, please feel free to add.

Be efficient when it comes to finances, improve your financial IQ, improve your life, secure your future. There is no other way to secure your future than to improve your financial IQ and money skills.

[Metz]

you can ask local universities but di pa kaayo ni maappreciate kay kasagaran college students wa pa katilaw mo work for money.
maybe a short talk on xcurve, interest rates in investment and debts will do. wa lang sa financial products. at least kasabot sila deretso unsa kasakit ang ginagmay nga monthly interest rates sa credit card.


maybe a smaller group lang sa, like the university working students who graduated. they are not paid but they earned their way through school. mas dako ang chance ma retain nila sa working years kay naa ni silay hunger to succeed at the early stages.

[makie]

Yes, mao unta na ang intention ani nga thread, to increase awareness about financial literacy so by the time mograduate na ang mga students then either motrabaho or venture into business or investments, at least mas efficient sila when it comes to finances.

[KULKOG.KULITOG]

negosyante kaayo ko sa una atong studyante pako oy

[jack_bauer]

First of all, I am a broker connected to IMG and I would like to create financial literacy awareness to students.

Lack of financial management is one or if not the main reason why most Filipinos struggle financially irregardless of the amount of income that they earn. The solution to the looming financial crisis that has hit most Filipino individuals and families is simply improving one's financial IQ. Achieving financial independence and freedom is not about how much do you earn, it's all about how much do and can you keep in savings and investments.

Have you ever noticed and wondered why do these things happen:

*Most "professionals" struggle when it comes to money?
*Why people who earn a lot (such as OFWs) have huge amounts of debt?
*Why only a very few people get to achieve financial independence and their dreams while most continue to struggle in the rat race?

On those kind of questions, everything boils down to lack or low financial IQ.

Everybody are being encouraged to go to school in order to learn and develop the knowledge and skills in order to have a good career. However, that is only the first part of the equation. Schools never teach anything about money management and financial planning hence, at the end, most that you'll earn in the future may end up in either nothing or in liabilities or will simply be mismanaged.

This is what this thread is all about, to increase the financial education awareness of students.

Here are some staggering facts:

*Less than 2% of the Filipino population invest in the stock market
*Only 10% of Filipinos are saving up for their retirement
*90% of people make a budget, only 33% can stick to it
*84% of the working class have no formal financial plan or strategy

We are striving hard to change those stats for the better.

Though IMG is a financial brokerage firm, the intention of this thread (again) is to increase financial awareness among students and not to engage in business or any transactions.

To those who are interested, you can post your concerns or questions about financial planning, management, or awareness or those who have inputs, please feel free to add.

Be efficient when it comes to finances, improve your financial IQ, improve your life, secure your future. There is no other way to secure your future than to improve your financial IQ and money skills.

First, i'm no longer a student..
Second, i'm not trying create doubts about your intention...

...but, let me hope that this is not some kind of a marketing strategy to lure students/people..

i have had the opportunity to be invited in a financial literacy workshop sometime ago.. the talk went so well until it was almost over.. when i realized, the entire talk was meant to prime us.. to buy/invest something..

what i did not like was the deception.. that it ain't marketing.. when in fact, it was..

i just hope you are not one of those, in the guise of teaching financial literacy with a hidden agenda..

cheers.. i'm just concerned to the students.. they are quite close to my heart..

[makie]

First, i'm no longer a student..
Second, i'm not trying create doubts about your intention...

...but, let me hope that this is not some kind of a marketing strategy to lure students/people..

i have had the opportunity to be invited in a financial literacy workshop sometime ago.. the talk went so well until it was almost over.. when i realized, the entire talk was meant to prime us.. to buy/invest something..

what i did not like was the deception.. that it ain't marketing.. when in fact, it was..

i just hope you are not one of those, in the guise of teaching financial literacy with a hidden agenda..

cheers.. i'm just concerned to the students.. they are quite close to my heart..

Thanks. In fact, that is why I introduced myself, what company I am connected with, and also cleared it out that I'm not doing this for any business purposes to create transparency. As you can see, I'm not inviting any people either.

The purpose of this thread is simply for educational purposes as (I think) we both know and agree that financial literacy or education is a need and must be taught to students as well so they'd be more efficient in their finances later on in their life.

I understand that this is not a "Classified Ads" or "Business" section hence, I'm not selling or trying to transact anything. I actually have threads in the Business and Classified Ads sections about the company's products and marketing.

I hope this clears things out.

[jack_bauer]

^^^ THANKS...

... and keep up the good work. Indeed we need financial literacy for our students.

[Metz]

^^^ THANKS...

... and keep up the good work. Indeed we need financial literacy for our students.

don't worry.
even if ever naay mahitabo na event nga ing-ani we don't expect students or new hires to sign up.
investment products require regular savings and di jud na sila maka appreciate kay wala man sila income.

now the benefit here for students is we can make them more aware about the REALISTIC returns of investment and how money works.
aron mas mo investigate sila if naay "too good to be true, instant millionaire here's my check scheme"
some are real, but we know most are not.

and maka avoid sad sila ug debt traps.



as for me interesado ko kay nag manage mi ug school and I might do this for every graduating class sa college. but someday pa kay I'm not even qualified to speak to a crowd.

[jack_bauer]

^eyy bro, for a start. can you give us basic tips in financial management?

hope it ain't to much to ask in here..

[makie]

^eyy bro, for a start. can you give us basic tips in financial management?

hope it ain't to much to ask in here..

Let me share some tips (I hope you won't mind). Generally, what we suggest are these steps:

1.) Increasing your cash flow - Have more sources of income. Most people rely only on a single source of income. That is very risky and not efficient.

2.) Manage/eliminate debt - Debt creates a life of its own through the interest. Interest rates may look small (such as 3.5% a month) but in time, that sums up to a huge amount. 3.5% a month on credit cards is actually 42% in a year.

3.) Ensure proper income protection - Income protection is health care and life insurance. Getting sick is very costly thus having a health care plan will always come in handy. And life insurance in order to protect one's dependents. Times are very uncertain. Better be safe than sorry.

4.) Create an emergency fund - An emergency fund is a sum of money that is readily accessible in times of emergency. Many people don't have this and when they face an emergency, they end up in debt. Ideally, one should keep at least 3 months worth of income. The more, the better. Emergencies doesn't include vacations or parties. LOL!

5.) Invest or accumulate assets - Investments take time to grow hence they must take the backseat. The mistake that most people make is jumping into this part without getting health care, life insurance, and not having enough emergency fund. The result? Once an emergency arises, they run to their investments preventing it from growing. Investments are for college education plan for the children, retirement plans, or anything that will need money in the far future (maybe at least 10 years).

6.) Ensure protection for your assets/investments - This is basically like health care and life insurance but its purpose is to protect the income generating capacity of your investments. In most cases, this is where non-life or general insurances come in so handy.

Those six steps must be followed in order. Skipping one would make one's financial foundation shaky.

For students, maybe simply by developing discipline or by being strict in their finances would be so useful for now. Also, since students have lots of spare time, maybe learning a thing or two about finances such as stock market trading will do. I believe that the stock market would be so appealing to students because students are very literate in terms of computers and most stock brokers go online now.