Why Financial Education Matters More than Ever

Financial education is often dismissed as a vocation for the elite, or simply laid aside for a later (indefinite) time. But make no mistake. Everyone needs it…. and quickly. Do you want to learn how to achieve a financial security for you and your family? There’s no better time than to start NOW—regardless of your current income.

Financial literacy has improved among Filipinos in recent years, thanks to thousands of financial consultants making an effort to create an awareness about financial products. But outside the context of insurance, financial literacy in the Philippines remains insufficient in terms of knowing other financial options and opportunities.

Still, if you don’t understand how money works, inflation will hound you for the rest of your life. Price increase will keep you on the edge every time. Seen from a larger view, poor financial literacy creates wealth disparity; where the rich becomes richer, and the poor, poorer.

Every year across the country, about 95% of high school students and 90% of college students graduate without knowing the basics of finance, which would have helped them make smarter decision and avoid costly mistakes.

Same can be said on the majority of Filipino overseas workers who don’t have sufficient ideas how they can save money for their long term security.

It’s a fact that understanding what to do with your savings properly is a good start. A healthy amount of it becomes the foundation of building personal wealth. Building wealth requires that you consistently save (and invest) money for many, many years; beginning today until you retire in comfort.

And even if you don’t intend to be wealthy, your savings will help you get through a financial crisis. It will improve the lives and well-being of your family, and help you enjoy your retirement years.

Despite this, talk of saving money remains an uncomfortable conversation, which becomes awkward the moment the topic shifts to insurance and then to sales. Perhaps one of the reasons why financial literacy remains low among the poor and the middle class is that it appears to them as a front for selling (or bebentahan mo lang ako eh). Perhaps, a lot of us don't save because when we see financial consultants/coaches/advisers, we look at them and see salespeople underneath -- people looking for commissions or targeting you to meet their quotas.

Which is why conversations about financial literacy has evolved into something else. To prevent the negative impression that financial consultation is just a precursor to a sale; it needs to become an educational program in the form of seminars and personal coaching.

The objective of these seminars is to remove the stigma of "selling" in financial literacy programs, and just let you learn what you can, take it home, and bring it to bed. The hope is that the lessons would have inspired you to act now and save now.

 If the lessons transformed you, then you won't feel the selling component; and you buy an investment package or an insurance policy because you now understand the benefits.

Indeed, people hate to be sold. They want to buy (and start purchasing insurance policies and investing), and that should how people become financially literate.

Hence is the need for a financial education. If you want to understand savings and investments without having to feel being sold to, attend a financial course.

Attend a seminar where you can learn about money. But if you're just starting out, I believe you need to find a seminar that will help you  confront and overcome the barriers that prevent you from saving. Some financial seminars get right into that issue.

Our financial education course is never about boring numbers. Ours engage you in a beautiful way. One way to do this is through our brainstorming sessions.

 Besides learning how you overcome your addiction of spending carelessly, our brainstorming sessions can help you realize your entrepreneurial goals and become financially independent because of it.

Financial education serve as your entry points toward that supposedly high-brow world of money and investments. When you get into it, you'd realize that money and investments aren’t so damn technical at all. In fact, you’ll learn the opposite. It's more about people. It's about human behavior.

And, surely, after the seminar , the first thing you’d say to yourself is: Why didn’t I take this course 5-10-15 years ago?

I said the same thing years ago.

In the next few days, i-TeachOptions will be rolling out a series of financial wellness seminars, as well as brainstorming sessions. 

The financial brainstorming session functions more like a support group as you freely exchange ideas, find new friends and attract the right business partners.  

Keep in touch with our Facebook at fb.com/iteachoptions to know more.