Financial literacy, especially on investments and business start-ups, are important factors in ensuring that hard-earned incomes and savings of Overseas Filipino Workers (OFWs) are put to good use, Senator Cynthia Villar said at the 8th OFW and Family Summit recently.
Villar, in her capacity as director of the Villar Social Institute for Poverty Alleviation and Governance (Villar SIPAG), made the remark as she urged OFWs who attended the event to be financially-smart to ensure a better future for their families.
“I hope that you will practice all the lessons, tips and suggestions that you learned today from our finance experts. Use your incomes and savings wisely,” the seasoned lawmaker said at the end of the Summit, which had as theme, “OFW: Perang Pinaghirapan, Palaguin.”
“Always remember that you worked abroad to ensure a better future for your family. So you should know how to spend your earnings smartly. Invest your savings. Put up small businesses. Do not throw your money away on unnecessary luxuries,” the veteran lawmaker added.
“Always remember that you worked abroad to ensure a better future for your family. So you should know how to spend your earnings smartly.”
The 8th OFW and Family Summit was held at the World Trade Center in Pasay City. It was attended by OFWs and their beneficiaries, such as spouse, children, parents or siblings.
“Invest your savings. Put up small businesses. Do not throw your money away on unnecessary luxuries.”
The activity was opened by Secretary Mark Villar, Department of Public Works and Highways and Camille Villar, Director of Vista Land.
Experts were invited to discuss various subjects such as financial literacy, business start-ups and financing facilities; new business opportunities such as farming, franchising and online selling; career development program; and OFW-turned-entrepreneur success stories.
Among the personalities who shared their expertise on financial literacy were Chinkee Tan, Father Anton from Cooperatives, Anthony Robles from the Development Bank of the Philippines and Joselito Gutierrez from Land Bank of the Philippines. The discussion centered on growing of one’s earnings. At the same time, tips were given on where to get additional financial support should they opt to go into entrepreneurship.
Like in previous summits, OFWs turned successful entrepreneurs were also featured such as spa owner Yco Tan, software company founder Myrna Padilla, farm owner and chef Roy Resurrection, and farm owner Engr. Edelissa Ramos.
Discussions focused on new business opportunities in farming, franchising and online selling with Lea Santiago (Sikat), Roanne Angeles (Crystal Clear), and Krizzia Loyang (Food Kiosks).
Susan “Toots” Ople of the Ople Center led the discussion on OFW concerns such as spotting a scam, finding accredited agencies, OFW rights and avoiding illegal recruitment. The panelists included Usec. Emmeline Aglipay – Villar of the Department of Justice- IACAT, Deputy Admin. Arnell Ignacio of the Overseas Workers Welfare Administration, Usec. Sarah Lou Y. Arriola of the Department of Foreign Affairs, Atty. Lynda Llave of the Philippine Overseas Employment Administration and Usec. Jacinto V. Paras of the Department of Labor and Employment.
