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| Empowering soldiers with financial literacy. Major Maria Theresa Babiera of the Philippine Army shares her story on financial discipline during the town hall event, organized by BDO Foundation and the BSP, to discuss strategies for advancing the financial literacy programs of government agencies |
Major Maria Theresa Babiera of the Philippine Army is a beneficiary of the BDO Foundation's impactful financial literacy program. This program, a corporate social responsibility initiative of BDO Unibank, partners with the Armed Forces of the Philippines (AFP) and the Bangko Sentral ng Pilipinas (BSP) to promote financial inclusion nationwide.
During a recent BDO Foundation and BSP town hall event, "Kita-Kita," Major Babiera shared a heartwarming anecdote. While shopping with her seven-year-old daughter, she asked if the child wanted to buy something. The daughter's reply was remarkable: "Mom, is that a necessity or something unimportant? You don't need to buy for me if it's a luxury."
This insightful response showcased the effectiveness of Major Babiera's financial education efforts. Attributing her knowledge to seminars and financial literacy modules, she emphasized the program's impact on her family's life.
Financial Discipline: A Way of Life
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| From duty to way of life. Navy Capt. Michael Barrion emphasizes that financial literacy is now a daily practice for soldiers. |
Since 2019, the BDO Foundation, AFP, and BSP collaboration has provided extensive financial training to military personnel. A Memorandum of Agreement solidified this commitment to enhance financial management skills, covering planning, saving, budgeting, investing, debt management, and scam avoidance.
This initiative has significantly shifted mindsets within the AFP. BDO Foundation President Mario Deriquito noted a surge in interest in investment products following training sessions. While investments are gaining traction, debt management and scam prevention remain key focus areas.
The AFP has trained over 50,000 personnel, integrating financial literacy into its career training programs. Navy Captain Michael Barrion highlighted the positive impact on soldier focus and stress levels, stating that almost half of Filipino soldiers are now financially literate, with 76 trained instructors. By incorporating financial education into each soldier's personal scorecard, the AFP ensures financial literacy becomes ingrained – a way of life, not just a requirement.
