Last October 27, 2012, the first batch of FLSE in the Philippines was launched at the St. John Nuemann Migrants’ Center at the National Shrine of Our Lady of Perpetual Help, Baclaran, Paranaque City. \u00a0FLSE stands for Financial Literacy, Leadership and Social Entreprneurship (FLSE) Training Program. The co-implementors of the program are Ateneo de Manila University School of Governance (ASoG), Overseas Filipinos Society for the Promotion of Economic Security (OFSPES), and Social Enterprise Development Partnerships, Inc. (SEDPI). The programs envisions Filipino migrants and their families united towards supporting each other in becoming empowered and highly respected members of society, consciously contributing to nation building.<\/p>\n
FLSE lasts for six months. It aims to empower families of Overseas Filipino Workers (OFWs) towards economic security and become agents of transformation. It focuses on key areas of leadership, financial literacy and social entrepreneurship towards local community and national development. Cristina Liamzon, President of OFSPES, said that the FLSE course is an integrated program to bring together knowledge and skills building in the three subject areas. One of the concrete end goals of the program is the development and presentation of a social enterprise business plan, which is a requirement to receive the certificate of completion of the course. The business plan will serve as the avenue for the participants to apply knowledge and skills gained from the program. FLSE is also established to complement the remittance-sender focused Leadership, Social Entrepreneurship (LSE) training program, which is now on its 14th<\/sup> run with batches from Europe, Dubai and Hongkong.<\/p>\n FLSE has a total of 24 participants from different areas in Metro Manila. Majority of the participants have relatives and families working overseas while some used to work as OFWs and has returned in the country.<\/p>\n Financial Literacy and Remittances<\/p>\n \u201cFinancial literacy taught me to think long term and make the most out of the remittance I receive from my daughter\u201d, said Mrs. Concepcion Adviento, one of the 18 participants of the Financial Literacy for Remittance Receivers training held last November 10, 2012 in Baclaran. She also added that the training helped her enhance her skills in budgeting by learning how to focus on the right things which will ultimately help not only her family here in the Philippines but my son who works in Dubai as well.<\/p>\n As a core component of the FLSE Program, financial literacy intends to provide the foundation of personal finance through topics on remittance management, savings, debt management, and insurance.\u00a0 The financial literacy training also discussed the stages of migration, importance of remittance and the cost of dependency on it. Also highlighted in the discussions were savings, developing financial goals, debt management and insurance. From these topics, participants were provided with tools that they can readily use for proper personal finance management. In addition, choosing appropriate remittance providers and money transfer organizations was also presented in one of the sessions. During the training, the participants shared the difficulties and challenges they experienced as well as those experienced by their relatives working abroad. They identified primary concerns such as communication problems, managing income and expenses and achieving their plans. Through the topics discussed, these issues are hoped to be addressed. Mr. Rowaldo Zapata said the he learned how to budget money and spend wisely. Ms. Lea Nicol added that financial literacy would help her become self sufficient which would allow her to depend less on remittance and at the same time become a role model for the community.\u00a0 Furthermore, Ms. Letlet Bondal mentioned that she learned more about the process of budgeting that helped her become more systematic and detailed in drawing out her financial plans. All of these are geared towards achieving their own dreams as well as that of their relatives working abroad.<\/p>\n ADMU, OFSPES and SEDPI hope that by 2013, FLSE can be conducted in other key cities in the country with high concentration of OFW families. The program is also implemented in collaboration with the Department of Labor and Employment and the Overseas Workers\u2019 Welfare Administration (OWWA).<\/p>\n","protected":false},"excerpt":{"rendered":" Last October 27, 2012, the first batch of FLSE in the Philippines was launched at the St. John Nuemann Migrants’ Center at the National Shrine of Our Lady of Perpetual Help, Baclaran, Paranaque City. \u00a0FLSE stands for Financial Literacy, Leadership and Social Entreprneurship (FLSE) Training Program. The co-implementors of the program are Ateneo de Manila […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[4,3],"tags":[],"class_list":["post-169","post","type-post","status-publish","format-standard","hentry","category-financial-literacy","category-social-entrepreneurship"],"yoast_head":"\n