Session 14: Service Learning Implementation

FINANCIAL EMPOWERMENT SEMINAR

Observation and Experience

On my previous blog, I mentioned that we are planning to have a seminar about financial literacy to the youth under the care of the sisters in Asilo de San Vicente de Paul. Last March 17, 2018, we held a financial empowerment seminar at Asilo de San Vicente de Paul conference room. It was attended by around 40 students whose age bracket is 18 to 22 years old. All of them are currently studying in different universities around Metro Manila.

We started the seminar with an opening prayer followed by a group activity. Each group were asked to write their expectations on the seminar. Most of them wrote that they are expecting to know more about the value of money, saving, and investing. With the topics that we prepared, I am positive that their expectations will be met. Our discussion started with goal setting. We explained the importance of goal setting and how it could guide you with life. We also taught them set goals through the S.M.A.R.T acronym which means Specific, Measurable, Attainable, Realistic, and Timely. After that, we taught them the value of budgeting. That they must identify set their budget goals based on their money, develop a budget plan and track their expenses. Identifying their needs and wants could assist in developing the budget plan. Since all of them are studying, we told them that they should budget their allowance in order meet all their expenses and also to save money. We also taught them that NOW is the best time to save money and explain the formula “Income – Savings = Expense”. Aside from that, we also educated them regarding the efforts of the central bank to encourage people to save especially the youth. The last topic is about investing. We understand that as students, they may not have the resources to invest but this topic aims to equip them so that they would invest in the future.

Analysis and Reflection

The objective of this financial empowerment seminar is to produce financially literate students, to improve their financial knowledge and practices, to increase their desire to open a bank account and start saving, and to motivate the attendees to attain a successful and financially independent lives in the future. With the activities and topics that we discussed, I can say that we achieved our objectives for this activity.

During the seminar, I saw the eagerness of the attendees to really know how to be financially stable as early as now. You can really see how interested they are especially on the savings and investment topics. They are really asking questions like how could they open a back account and how to raise and save money now in order to have something to invest in the future.

Through this seminar, I was able to see life in a different way. The experiences and stories of our participants taught me that it is important to work hard and strive in order to achieve your goals. Most of them are scholars and at the same time working as part time to different establishments. I’m actually proud of what they are now and looking forward to what they will be in the future. We gave them tips and ways on how to be financially stable and in return they taught me to appreciate and value the things that we have.   

Commitment and Action

I find it fulfilling that we were able to instill to the youth the significance of being financial literate as early as now. In order to sustain this activity, we can share our materials to the management of Asilo and tell them that if they want to hold the same seminar we can assist as the speakers. If given the opportunity, I would like to hold other seminars that aims to empower the youth not just financially but also in other areas in the future. I really enjoyed this activity and hopefully more activities like this will come in the future.