The photo has been used for illustration purposes.
Mariecar Jara-Puyod, Senior reporter
Financial planning and management involves the whole family and this should be learned both within the confines of the home and supported by the education system.
Dubai-based entrepreneur / financial coach Francis Errol Medina and Goodwill Insurance Brokerage LLC International Advisor and Director Dr Sanjay Tolani expressed these views through separate virtual platforms.
Tolani was the speaker on âThe Future of Financial Literacy and Financial Planning, the premier pre-conference at theâ Dubai 10X International Future of Learning and Skills Conference âat the University of Dubai-Center for Executive Development “sometime in June. Medina was the featured guest on the weekly Facebook live stream” Mama Is Home “by former print / broadcast journalist turned financial advisor Malou Talosig Bartolome and Former Community Relations Officer of the Commission on Filipinos Overseas / Former United International Private School (Dubai) Jennifer Gonzales.
Tolani said that children – whether they have “itchy or smart hands” – need to be taught and oriented on where / how / why money needs to be budgeted for and spent due to out-of-control, namely illness, death, forced retirement and “where your children will be in the future … My grandfather sat me down when I was 17 and told me that money is not good, money is not is not bad. It is the power that will accomplish many things and everything we want in life. For him, the future of financial literacy and planning would be built into university curricula, because governments are on the right track to encourage more independent choices such as basic health insurance.
Medina, Bartolome and Gonzales discussed the Filipino penchant for mall-wide sales through the topic “Nabudol Ka Na Naman Ba ââNg Sales At Discounts?” (“Have you been deceived by sales and discounts again?”).
The subject was such that even in these difficult times for the novel coronavirus, Bartolome had noticed the intoxicating interest of Filipinos in online shopping which offers huge deals. She was told by a Filipina that during a recent sales campaign in Qatar, many bought mid-range bath and body toiletries in bulk for freight and resale in the Philippines.
Meanwhile, the ResearchGate 2017 study “Consumer Behavior Among Filipinos: A Quantitative Study About Vanity, Materialism and Gender Differences” conducted among 200 participants found that Filipino men and women do not buy functional products but at vanity ends.