Beating hard times with money lessons

It’s not everyday that fishermen get a good catch. And when that unlucky day happens, the cash crunch affects the family.

Training is delivered through local government units, partner agencies, and “training the trainers” sessions. E-learning modules are also freely available online via the BSP E-Learning Academy and the TESDA Online Program.

Jose Cabanza Jr. of Barangay La Huerta in Parañaque recalls his poor earnings when some mussels died due to poor water conditions.

Better management of their finances can help address such situation, according to the Bangko Sentral ng Pilipinas, the Parañaque City and BDO Foundation.

The three partners initiated a financial education program (FEP) that teaches members of vulnerable sectors how to better manage their finances amid the challenges they face.

Mario Deriquito shared “3 Ps” that illustrate what the financial education program is all about — partnership, practical knowledge and preparedness.

“If people know how to manage their finances, they become resilient,” Deriquito said at the recent launching of the initiative at the Parañaque city hall.

Mary Jane Gutierrez, a vendor at Parañaque’s Bulungan Seafood Market, welcomed the financial education program.

“My husband and I are already saving, but we want to learn more. I want to understand the proper way of saving in a bank,” Gutierrez said in Filipino.

Aside from fisherfolks, the FEP caters to farmers, market vendors, tricycle drivers, persons with disabilities, overseas workers, government employees, micro-entrepreneurs, teachers and students.

They will be taught on saving, budgeting, financial planning, debt management, and avoiding scams.

Advanced topics include basic investing, microinsurance and digital literacy.

Training is delivered through local government units, partner agencies, and “training the trainers” sessions. E-learning modules are also freely available online via the BSP E-Learning Academy and the TESDA Online Program.