On July 26, 2010, the Junior Philippine Institute of Accountants and Junior Finance Executives conducted the BPI on Call: Financial Wellness Seminar.
The seminar encouraged the students the value of saving and investment in the earlier time possible. The event taught participants how to create their own budget and savings plan.
“Being wealthy is the ability to continue your preferred lifestyle without actually working.” Said Mr. Eric Barroquillo, the workshop facilitator, Senior Manager of BPI Field Sales Department and a writer of Kerygma Magazine.
He added that only 2 percent of people currently enjoy their retirement. About 23 percent of Filipinos are still working in their retirement years, while 75 percent depend on the support children of support of children and relatives who work.
The seminar outlined five steps in developing a budget and savings plan. These includes determining your fund source, itemizing your expenses, setting aside a minimum fixed investment, living within the balance and monitoring your progress.
“You should have financial discipline. You should save before spending and remember that earnings less savings mean expenses.” Mr. Barroquillo concluded.
The seminar was held in the Founder’s Hall. St. Paul Manila was represented by primarily by the College of Business and Management (CBM) students.
Correspondent: Camille Nuñez
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