FINANCIAL LITERACY SEMINAR SERIES FOR OVERSEAS FILIPINOS KICKS OFF IN DUBAI
1 October 2022, Dubai, UAE – Overseas Filipinos (OFs) in Dubai and the Northern Emirates took the opportunity to learn how to better save, budget, and manage their debt at the first session of the Financial Literacy Seminar organized by the Philippine Consulate General in Dubai and Northern Emirates (PCG Dubai).
A total of 40 participants from the community sat eagerly and listened from financial experts Ms. Mercy Macalalad and Mr. Lyndon Magsino, who were the resource speakers for the session. Both resource speakers are business owners in the Philippines and Certified Public Accountants (CPA) with years of experience in the UAE.
During his opening remarks, Consul General Renato N. Dueñas, Jr. extended his gratitude to the resource speakers who willingly served as financial advocates over the years and volunteered to raise awareness about financial literacy through the seminars. He also lauded the participants' keen interest to learn about or improve their financial literacy which is a step towards greater financial security and personal responsibility. Moreover, he underscored the importance of continuously learning about financial management and encouraged the participants to attend the succeeding seminars to effectively handle their hard-earned money.
In the session on savings and budgeting, the participants learned how to properly manage their finances by prioritizing saving before investments and payment for insurance. It was also ingrained in them that when they get their salaries, they must secure their savings first before spending for their usual expenses instead of the other way around.
Meanwhile, the participants also gained practical understanding on using debt wisely as a “leverage” rather than see it as a burden in the session on debt management.
There were also workshops on budgeting, saving, and determining financial goals that were conducted in order to help participants develop sound financial planning habits.
Clarifications and concerns of the participants were addressed by the resource speakers during the question-and-answer portion and they were properly advised to follow a specific plan on achieving their financial goals.
The Financial Literacy Seminar series is a project of PCG Dubai since 2017. The training modules were developed with the assistance of Dubai-based financial experts and mentors. To join the succeeding sessions, pre-register at https://tinyurl.com/FinancialLiteracySeminar2022. END
