Monsanto Philippines recently partnered with the Cagayan Provincial Government, through its Provincial Learning and Resource Center (PLRC), to conduct a money management workshop to more than 200 government employees and underprivileged college students, mostly children of local farmers in the province of Cagayan, and to broaden financial literacy and independence in the region.
The program, in partnership with the International Marketing Group-Wealth Academy (IMG-Wealth Academy), aims to build the participants’ capabilities in financial management. The 200 participants were selected from select municipalities and farming communities in Cagayan, mostly from the most underserved areas in the province.
Monsanto Philippines Corporate Affairs Head Charina Ocampo highlighted the importance of broadening financial literacy in the country, especially in the rural areas. According to her, the country stands as one of the 30 least financially literate countries in the world, with only 25 percent of adults aware of the basics of managing their money.
“Monsanto shares the objective of the Cagayan government to promote financial independence amongst those living in rural areas. But as a sustainable agriculture company, we are especially committed to help improve financial stability in farming communities starting with the children of farmers, since a lot of family members of our growers still have challenges in planning for their financial goals,” shared Ocampo.
During the workshop, participants were taught basic financial skills such as practical money management strategies. The activity also included short courses on building a solid financial foundation, sound investment tactics, and the creation of multiple streams of passive income.
“Para sa isang 20-year old na estudyante, maganda itong seminar na ito,” said Angelica Joy Cahilan, a senior College Library Science student. “May magtuturo sa’yo na dapat mag-ipon ka at hindi pwedeng bilhin mo lahat ng gusto mo kasi dapat isipin mo ‘yung future mo,” she continued.
Meantime, 51-year old Emelyne Tarangco-Mappala, a government employee shared that she has been practicing the Six Steps of Financial Freedom. “Kapag nag-umpisa ka sa mahirap na buhay, that should be a challenge for you to strive more in life,” Mappala said.
“Marami sa amin ang hindi pa marunong mag-manage ng pera at umaasa sa loan because they lack this knowledge kaya nagpapasalamat kami na may seminar na ganito,” she added.
Last year, Monsanto Philippines also conducted the financial literacy training to over 300 lady farmers in Bukidnon.