Young Filipino Quotient Greater This 2012
Batang Pera-Henyo – A Financial Literacy Program For The Youth
Organized by School Talk
School Talk’s Batang Pera-Henyo was all about the financial concepts of handling money, learn the concept of savings at a young age, taking responsibility, guiding the youth to become financial leaders and having the right values on how to utilize – MONEY. This is a conference that brings real education to a positive nurturing of values and influence.
School Talk believes “that it is better to train the youth to what is essential and critical later in life. while they are young, such training cannot be delegated or altered.”
I was so eager to attend this confee because for one, as an adult — there are still doubts in my mind as to how do I improve my financial standings, what’s in store for my family’s future and with a growing child, as a parent how can we help her understand deeper the needs of having a financial quotient that she’ll lived by all through her maturity.
Here’s a rundown of how to become a Batang Pera-henyo
Usec Leon Flores III of the National Youth Commission (Chairman and CEO) spoke about the agency being the voice and the advocate of the youth. Tribalism vs. globalism suggests that youth still have genuine interests with our cultural heritage despite globalization. That using social media is merely a tool for everyone not to burn time and waste all the energy. Keep still the need to communicate with your friends and spending it on a worthy cause. He reiterates young minds to join youth organizations to empower them and become responsible leaders of their time.
Saving vs. Spending
Miriam Quiambao discussed money issues such as: assumption, quick-fix and money is everything attitude. She also identifies the spending behaviors:
- Compensatory spending – compensates a child with the chores given to them, clear and consistent rules should be implemented.
- Entitlement spending – person feels unappreciated and wants to reward self
- Habitual spending – habits or addictions e.g. shopping
- Sales spending – a person can’t get enough when it sees “sales” tag
- Obligatory spending – pressure to give; because of guilt and to cover up for something.
- Convenience spending – put off till last moment
- Impulse spending – lacks planning
Live within you means (Proverbs 13:7, NT), on what you have and allocate your money for specific purpose.
Quiambao also introduces the Jar System Money Management. A 7-jar system arranged as hierarchy of needs (Maslow) From top to bottom explanation:
- Jar #7 – 10% of gross salary goes to “Tithing Principle” (Malachi 3:10, NW). Share to your church or to mission groups who have supported.
- Jar #6 – 30% for Growth Jar
- Jar #5 and #4 – Live Jar and Learn Jar
- Jar #3, #2 and #1 – Save Jar, Play Jar and Share Jar
Efren Cruz gave funny and yet most interesting talk next to Usec Leon. He has explained the 4 step approach in boosting savings:
- Give first.
- Collect loose change.
- Pay yourself first.
- Manage your debts and expenses.
I call them the 3 henyo kids (Fausto brothers) — Martin, Enrique and Anton. These boys started to be financially successful at an early age with the guidance and support from their parents.
The 3 henyo approach (for kids)
- Save and record
- Invest – fixes-income investment; stock market gains 12% increased compare to bank savings with 1% saving only.
This is what I want to teach my child and how to raise her with high financial quotient (FQ), I better start a follow review on the law of compounding interest (formula). This is the interest earned on interest and rule of 72 which means doubling your money, whew! these kids knew their stuff.
Dennis Sy also rocks the deck with his presentation. He was the blogger behind actlikeaman.org, Sy recommended a 4-Jar system for kids to start out savings, he call it T.G.I.S.
He said parents should teach kids with values about life not to become a very successful greedy person (compare to politicians here in our country). That people sometimes focus and worry too much on secondary values: Money, Food and Clothes. Instead focus on the (intangible) primary values about God, Life and Body.
Going back home, I was prepared to share and apply (convincingly) that a “Batang Perahenyo creates and sticks to his budget.” That we are empowered to manage our OWN resources.
Sharing with you the meaning of H.E.N.Y.O as defined by School Talk
Habits and mindsets to become a PERAhenyo
Equip you to achieve a financial peace
Nation building and leadership values
Young investors HOW? WHEN? NOW?
Ok sa outlook (practical Pinoy Henyo ways)
Learn more about School Talk as they continue their role to equip the youth and parents on ways on how to impart financial education and freedom.
More photos from Batang Pera-Henyo Conference 2012 on Facebook
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Full Disclosure: This article is being published based on my written opinions and information shared by School Talk. No business relationship involved with any company or organization promoting this event. I would like to thank School Talk’s Jenny Magalong, Ia Adam-Lim (Special Education Philippines) and Vance Madrid (Purple Plum Fairy).