Financial literacy should start early.
Members of the Truly Rich Club (TRC) said that the integration of financial literacy in the educational curriculum would make more Filipinos responsible in spending and wise in investing for the future.
TRC member Marn Rondiva said on Wednesday during the Habi at Kape press conference at the Abreeza Mall, that a customized financial literacy for elementary, high school and college levels must be pushed.
She said that this will teach young students to practice saving and spending wisely.
“No matter how big your allowance or salary is, if you do not know how to save, it will be useless, considering that the habit of spending is also hard to resist,” Rondiva said.
She also said that the millennials should also try exploring the stock market during their spare time.
“As a millennial, try to study stock market,” Rondiva added. “At an early age, you still have time study. In fact, today’s generation are blessed because all of the available resources in studying it are already available online.”
Russel Ledesma, TRC Davao chapter head, said that out of the current Philippine population of 100 million, only one percent invest in the stock market.
Ledesma said that it is mostly the foreigners who trade in our stock market and end up the highest gainers in trading.
“That is why we encourage the Filipinos to invest (in the stock exchange) so that we will not be relying from other countries,” he said.
“If these foreign investors will have an economic turmoil, our economy would also suffer,” he added. He also said that investing in stocks is more of “a wealth preservation”, and will not guarantee a huge financial growth.
TRC will be organizing a Trailblazing seminar, which will not only ignite financial purpose, but also give specific action steps in business, stocks and virtual careers.
Rex Mendoza, well-known businessman, is among the key speakers in the event on March 16 at the Pinnacle Hotel and Suites in Sta. Ana Avenue.
