Many of us Filipinos may not yet fully understand what financial literacy is.
Financial literacy is the knowledge about our financial life, or knowledge of proper handling of money, proper saving, proper spending, and how to grow money. The lack of knowledge of many Filipinos in these matters is a big reason why many Filipinos are poor and even more impoverished. Whereas people who know about financial literacy, such as the rich, get even richer. That's also something I often hear other people complain about... Why are the rich getting richer, and the poor getting poorer? Then it will be followed by blaming the government or anyone else to blame.
Blaming other people is not the solution to get you out of poverty. That said, no one can change your life but you, and only you. It doesn't mean that you will not need the help of other people. Let me repeat, you also need other people's help, not other people's blame. That means the way to get out of poverty starts with you. If you don't take action and continue to blame the government or other people for why you are still poor today, you will only continue to suffer.
Let's avoid passing on this mindset to our younger generations instead help and make them aware of the importance of money as early as possible. Especially hard earned money
The right thing to do is to start thinking, now, about how you can change your life. If you are poor right now, don't let yourself be like that forever. Because if you have a family, and you have children, will you allow them to suffer one day, especially when you are gone?
That's why I'm privileged to know and share with you one of BDO's innovations to educate everyone through technology, especially youngsters. Just like what the corporate social responsibility arm of BDO Unibank, the BDO Foundation (BDOF) did. BDOF released five (5) financial education videos for students. These aim to catch students’ attention and enable them to learn about the value of money at the same time.
Let's admit that today's youth can better understand the things being taught and we want them to understand through video. Kudos to BDO Unibank for making videos on the platform that young people always go to – YouTube.
1. “Walk Hard for the Money,” - which tells of an elementary school boy who chooses to walk to school instead of commuting despite being given an allowance. Along with other money-making efforts, these eventually pay off, allowing him to buy an electric scooter, which he later rides to school. https://youtu.be/DVVxWZlBWJ4
3." Umutang ay Di Biro” inspired by the Filipino folk song Magtanim ay Di Biro, also uses music to tell older students to save their allowance, limit spending and pay debts on time. https://youtu.be/RantK4EGAK8
Our children must start the habit of saving while they’re young, This is BDO's strategy for greater financial inclusion among Filipinos in the long run.
Teach them young. Teach them right. 💛