How to equip yourself financially this year
MANILA, Philippines – The Philippine economy is really good now compared to the 80s and 90’s. Although many people can’t feel it, HSBC predicted that we are going to be the 16th largest economy in the world by 2050. International rating agencies have also noticed the country and gave investment upgrades.
Although we are hitting different milestones; our growing concern is that the financial literacy rate of the nation is unacceptable. Looking at the big picture, it is important for everyone to be educated.
A 2015 Standard & Poor’s global financial survey shows that Filipinos are 25% literate when it comes to personal finances, while a 2013 MasterCard study says we ranked 8th out of 16 countries in Southeast Asian in terms of basic money management, financial planning and investment.
A study done in 2012 by the Bangko Sentral ng Pilipinas showed Filipinos’ current habits in spending the remittances of over 10 million Filipinos: 46% was made for debt payments while 44% was spent on education and food as well as saved. Investments ranked poorly at 6.8%.
Beyond that, every year many fall victim to investment scams. The top 10 scams alone amount to P91 billion pesos worthof losses.
It shows that we are not learning new things anymore. Many people are caught in a vicious cycle…but there’s a way out.
Here are the things you will expect at the upcoming Financial Fitness Forum 2016 happening this Saturday, March 12.
You will gain massive experience – Although most Filipinos are starting to make investments at a young age, the majority of the speakers at the event have 25 years of continuous education within the industry.
Imagine 20 speakers who are credible and who can speak about their most passionate subject in personal finance. Cumulatively, that’s 500 years’ in nuggets of wisdom, 6 lifetimes worth of experience.
You can leverage other people’s experience to find out how financial literacy will impact you and your family.
Experts in personal finance –You need teachers to enhance your skills. Without teachers, it is too costly to learn on your own. Great teachers act as multipliers.
I’d like you to understand that personal finance is like a team sport, it needs a coach that will lead the team to winning. Someone that will give each player a heads up on what techniques and tactics will keep each player from stumbling constantly and prevent them from making mistakes.
Life strategies – Financial planning never stops; money is involved from the cradle to the grave.
Not only can they can teach you about their very own mistakes, but they will also share their strategies on how to bounce back that worked for them. This is an express lane into their brain and can save you time, effort, money, and energy.
Practical Steps - Not everyone can see their future 5-10 years from now, some are having issues with the habit of saving and investing and others are struggling to build their wealth from ground up.
As a financial planner, it is our duty to help and give you a step by step process so that these goals can be achieved. These are measurable goals that you need to hit to build momentum. Following a system how to strengthen the foundation of your wealth building practice.
Inspiring stories – Have you ever wondered why you can’t manage your finances very well? Is Inertia Is starting to kill your time? Procrastination eats your hopes and dreams.
This is the time for you to move and organize your future tomorrow… today. This is to plant seeds in your heart that can get you going and will push you to move from A to B and change the path of your financial life.
Change in perspective – We will remove your old belief system and give you fresh perspective towards investing, saving, managing your portfolio and even spending towards happiness. This will eliminate the rust in your game plan which is affecting your finances. The money game is about you. It is all about you learning how to invest in yourself so you can reap the rewards later.
Community of learners – Self- education always surpasses formal education.
You are not the only person who has a problem with your personal finances, many people admit that but question is: Are you willing to move from where you are going to where you wanted to be someday?
Getting inspired by leaders and community of learners can change you like a lightning bolt.
Equip yourself by learning and investing, and you won’t go wrong with it. It will change you and your family and lead to a brighter future for the next generation. – Rappler.com
David Isaiah Angway RFP is a Registered Financial Planner of RFP Philippines. He will be speaking on “How to Develop Financial Habits That Will Last” at the Financial Fitness Forum 2016 this March 12 at SMX Aura. For details, please visit www.financialfitnessforum.org