Category: Financial Literacy

Five Emotions That Prevent Financial Success

by Ann Carl Bailey

sedpi dtiPeople often believe that financial management is all about money and has nothing to do with emotions. Wrong! Learning to manage your emotions actually helps in making rational financial decisions that works to your advantage.

Mariel Vincent Rapisura, president and chief executive officer of SEDPI, speaking to employees of the Department of Trade and Industry during their financial wellness training, said there are five emotions that prevent people from achieving financial success. These are fear, anger, guilt, shame and envy – emotions you have to watch out for. When gripped with these emotions, the choices you make can become irrational and financially detrimental.

Grabbing a cup of coffee in Starbucks to look cool with your colleagues is not a good financial decision. Flaunting designer clothes you can’t afford isn’t either. Taking out loans to purchase the latest high-end gadgets will lead to your financial grave. “Fear, anger, guilt, shame and envy drive these irrational behaviors,” Rapisura explained.

“You should learn to find joy in simple things. He suggests to practice living a lifestyle that is equivalent to approximately half of your monthly income. The other half should be budgeted for insurance, savings, investments and taxes. This could be achieved with a little bit of sacrifice and a lot of creativity. This way, financial freedom can be closer at hand. Remember that the pursuit of happiness isn’t measured through material belongings,” Rapisura concluded.

The first batch of the Department of Trade and Industry’s financial wellness program for its employees was held on November 16, 2015 at Saint Giles Hotel in Makati. The second batch will be held on November 27, 2015.

331 OFWs Graduate from ADMU LSE in 2015

by Reichelle Carlos

“LSE has been a wake-up call for me to put my finances in order and gave me a roadmap for my financial goals.”

lse31 macau
Graduates of LSE Batch 26 in Dubai smile to the camera on their graduation day. Their commencement exercises was held in the 5-star Al Ghurair Rayhaan Hotel by Rotana. Photo courtesy of Melanie Abilo Anacleto from Facebook
This year, 331 more of our modern-day Filipino heroes all over the world are better equipped with skills on dealing with their finances and economic situations. They are the recent graduates of this year’s batches of Leadership and Social Entrepreneurship (LSE) Program conducted in Paris, Rome, Dubai, and 5 other key cities in Europe and Asia.

The LSE Program under the Ateneo School of Government (ASoG) has been conducting series of seminars to migrant workers in Europe, Middle East and Asia since 2008. The consortium of ASoG, Overseas Filipino Society for the Promotion of Economic Security (OFSPES), Social Enterprise Development Partnerships, Inc. (SEDPI) and UGAT Foundation aims to empower OFWs by transforming their mindset and becoming agents of social change not just to their fellow OFWs in their host countries but also to their family members in the Philippines.

Mariel Vincent Rapisura, president and chief executive officer of SEDPI, shares in a phone interview: “My vision is economic empowerment for Filipinos through financial education because no one deserves to be poor.”

SEDPI, a capacity-building institution, conducts the modules on financial literacy and social entrepreneurship. Other module includes courses on leadership.

“LSE has been a wake-up call for me to put my finances in order and gave me a roadmap for my financial goals. In the last six months, my personal finance has improved from 5 to 8 (ot of a possible score of 10). I can’t thank enough the dedicated people behind LSE.” Ricky Zafra recalls his learnings from the 6-month program. Ricky is a graduate from the LSE 31 in Macau. He works as a Document Control Manager and has been in Macau for 11 years.

The participants are also expected to come up with a business plan before the end of the program. Most of the business ideas are out of their experiences in their host countries and are into food, real estate, and agriculture.

One LSE group from Netherlands created Sarap Pinoy NL, producer of prepared Filipino meat products such as longganisa, tapa, and the like. Owners Gladez and Jack Kok shares that their inspiration was to “make the Filipino products available in Europe for Filipinos and Europeans as well”. Later on, they did not expect the positive response of their customers; their products simply hit home. From a simple business plan, they strategize to continue introducing new products to their clients through food bazaars and other related events.

Truly, Filipinos shine through wherever they are – whether at home or overseas. They continue to make the nation proud in their own efforts and provide great contribution in stirring up the economy.

Yolanda and the Filipino Resiliency

SEDPI Program Officer, Angelo Naidas, conducts focus group discussion with victims of Typhoon Yolanda
SEDPI Program Officer, Angelo Naidas, conducts focus group discussion with victims of Typhoon Yolanda

 

By: Emilenn Sacdalan-Pateño

The Philippines is known as one of the most hazard-prone countries in the world. In a 2008 World Bank study, the country was identified as a natural disaster hot-spot with approximately 50.3% of its total area and 81% of its population vulnerable to natural disasters. The United Nations University Institute of Environment and Human Security’s (UNU- EHS) 2012 World Risk Report, the Philippines is the third most disaster risk country worldwide.[1]

 

In a country that experiences a lot of natural disasters, it is a wonder how its people would cope in order to survive. These are what the Social Enterprise Development Partnerships, Inc. (SEDPI) found out during the conduct of two (2) separate researches among Yolanda survivors in Eastern and Western Visayas. These researches were done respectively with Cordaid and People in Need (PIN).

According to the researches, the most effective coping mechanism of the poor in times of disaster are the following: (a) looking for other sources of income; (b) donations or relief operations; and (c) accessing loans. These coping mechanisms are cited to be effective since these allow the family of the respondents to get by with daily needs, and are also readily available.

However, it is interesting to note that although not mentioned widespread, a significant number of the respondents revealed that their top priority in terms of coping mechanism is prayer. They also deemed this as highly effective. One respondent from Eastern Samar said, “Hindi ko nga po alam kung paano pa kami nakakaraos sa araw-araw. Ipinapasa-Diyos na lang namin.” (“I do not know how we survive day-by-day. We just leave it up to the Lord.”) This only shows how culture has influenced the coping mechanisms of the Filipinos.

Another coping mechanism inherent to Filipinos is that of getting assistance from village members through damayan (compassion) and bayanihan (cooperation). Some experts might call it social capital. But for the respondents, immediate help would only come from those around them. There were stories of Yolanda survivors in Iloilo pooling whatever food they have so that they could share them among neighbors.

With all the calamities that the Philippines experiences, its people have found indigenous ways of coping to these disasters. But even the poor know that they would be able to better cope with these disasters if there is an enabling environment for them to be more economically resilient and be better equipped to manage disasters. The two projects of SEDPI, with Cordaid and People in Need (PIN) respectively, are trying to accomplish these. Cordaid is a Dutch International NGO and PIN is a Czech International NGO.

Currently, SEDPI won the bid for the project with PIN to be able to allow the Yolanda survivors in Eastern Samar to have access to suitable financial products and services and enhance financial literacy. Aside from access to financial services, market linkage is also an important aspect that is looked into by the project as this would provide an enabling environment for the communities to be more economically resilient. These factors would enable the Yolanda survivors to build their resiliency, both on the individual and collective levels.

[1] “Natural Disasters at a Glance,” Senate Economic Planning Office, April 2013

Paano ba yumaman?

paano ba yumaman promo

Alamin ang mga sikreto sa pagyaman tulad ng:

* Pagiwas sa abuso sa perang pinapadala
* Pagimpok ng pang-emergency at pang retirement
* Pagi-invest nang tama at pagiwas sa mga scam
* Mga ugaling nakapagpapayaman
* Pagba-budget nang tama at may priority
* Pagpili ng angkop na insurance
* Paggawa ng mga financial goals

Date:   May 24, 2015 (9:00am to 4:00pm)
Venue: Bayanihan Kennedy Town Center
55 Victoria Road, Kennedy Town
Hong Kong

Registration Fee: HKD 25 only (Registration starts by 8:00am)
Email: info@sedpi.com
Mobile: +852-9249-9942 (Alvir) +852-9386-2514 (Wilma)

Speaker: Mariel Vincent A. Rapisura (Vince)

Si Vince ay isang adjunct professor sa Ateneo de Manila University at isa ring social entrepreneur. Nakapagbigay na ng training sa 24 na bansa sa loob ng 15 taon. Nakapagtapos siya sa Ateneo ng kolehiyo at sa Asian Institute of Management para sa master’s program. Nagsanay at nagaral din si Vince sa America, Netherlands at Hong Kong. Siya ngayon ay namamahala ng kaniyang mga kumpanya na may kabuuang halagang ~PhP250 million sa ari-arian. Ang mga dumadalo sa mga training ni Vince ay umuuwing dala ang tuwa at bagong pag-asang kakayaning lutasin ang mga hinaharap nilang problema sa pera.

Note:
Limited slots only. Payment in cash will also be accepted at the venue.

 

 


PricewaterhouseCoopers Awards Special Recognition to SEDPI

sedpi dsea pwc award 150304

 

 

 

 

 

SEDPI Development Finance, Inc. (SDFI), the financing arm of SEDPI Group of Social Enterprises, received special recognition from the First Development Social Enterprise Awards (DSEA) held on March 4, 2015 at the Kalayaan Hall, Club Filipino in the City of San Juan. DSEA aims to recognize organizations that are committed to a social objective and are multipliers of social progress through their enterprises.

PricewaterhousCoopers (PwC) Philippines or Isla Lipana & Co. (ILC) and Benita and Catalino Yap Foundation, Inc. (BCYF) team up to support social enterprises through the DSEA. PwC/ILC and BYCF seek to recognize organizations with a culture centered on human value, and that exists to create societal impact alongside an ethical and viable business model. These social enterprises include organizations that have not only demonstrated consistent success, but have shown a commitment to scale up.

There were 27 nominated organizations for the awards. Two SEDPI partners were also nominated for the awards – Solar Solutions, Inc. (SSI) and Good Food Community, Inc. (GFC). GFC was hailed as one of the five finalists for the award. SEDPI actively participated in the incubation of SSI and GFC.

Senator Paolo Benigno “Bam” Aquino IV led the panel of judges for the selection of the awardees. He also delivered the keynote address during the awards night.

PwC is a multinational professional services network. It is the world’s second largest professional services network, as measured by 2014 revenues, and is one of the big four auditors, along with Deloitte, Ernst and Young and KPMG. ILC is the local partner of PwC in the Philippines.

Dahil sa LSE, Tagumpay! Tumigil na ang abuso sa padala

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The LSE Program has helped transform the lives of Overseas Filipinos. Many of our graduates have overcome the burden of debt, saved enough emergency savings and availed of adequate insurance coverage. Aside from these, the participants were also taught how to practice leadership and come up with a social enterprise plan.

The program is implemented under the Ateneo School of Government in partnership with Philippine consulates and embassies abroad, civil society organizations and SEDPI.

To learn more of the program, click here.

To register, click here.

“Dahil sa LSE, Nanumbalik ang Tiwala ko Sa Sarili”

lse fb fost 150213 jeiel abad

The LSE Program has helped transform the lives of Overseas Filipinos. Many of our graduates have overcome the burden of debt, saved enough emergency savings and availed of adequate insurance coverage. Aside from these, the participants were also taught how to practice leadership and come up with a social enterprise plan.

The program is implemented under the Ateneo School of Government in partnership with Philippine consulates and embassies abroad, civil society organizations and SEDPI.

To learn more of the program, click here.

To register, click here.

“Dahil sa LSE, Mas Naayos ang Plano Naming Pamilya”

lse fb fost 150213 cyndie ilarde

The LSE Program has helped transform the lives of Overseas Filipinos. Many of our graduates have overcome the burden of debt, saved enough emergency savings and availed of adequate insurance coverage. Aside from these, the participants were also taught how to practice leadership and come up with a social enterprise plan.

The program is implemented under the Ateneo School of Government in partnership with Philippine consulates and embassies abroad, civil society organizations and SEDPI.

To learn more of the program, click here.

To register, click here.

“Dahil sa LSE, Naka-ahon Ako sa Utang”

lse fb fost 150213 marieta gonzales

The LSE Program has helped transform the lives of Overseas Filipinos. Many of our graduates have overcome the burden of debt, saved enough emergency savings and availed of adequate insurance coverage. Aside from these, the participants were also taught how to practice leadership and come up with a social enterprise plan.

The program is implemented under the Ateneo School of Government in partnership with Philippine consulates and embassies abroad, civil society organizations and SEDPI.

To learn more of the program, click here.

To register, click here.