Investing102: Enriching Financial Literacy

Ms Georgia Subido of OFSI talking about the importance of Mutual Funds as an investment instrument

What is Financial Literacy?

From the word itself, it simply means being knowledgeable enough about the importance of having good financial standing and the ways to achieve one's financial set goals and objectives.

But how can someone become Financially Literate?

The answer is simple. EDUCATION.

By education, I'm not saying that the person should be an Accountant, have a Business degree or even earn an MBA for that matter, though that would be a good advantage but at least have undergone basic financial literacy seminar/workshop/class to be aware of its importance. Learning can also be done through oneself by reading business related news and informative blogs that tackles financial awareness, through watching financial-related programs, listening to investment-centered podcasts and clearly the most common of all is by simply attending financial literacy seminars. Obviously this doesn't always come for free since there are operational expenses to be paid like the venue, speakers, materials, food etc. Unfortunately because of these factors these seminars would cost more than a thousand pesos. But even though that's the case, the valuable learnings would definitely come in handy, presented in a realistic manner easy to be understood by everyone and are of course priceless.
From my experience in attending financial literacy seminars, the speakers are always presented to be credible enough in the field wherein they not only discuss about the scope of their lecture in an understandable manner, talk about a couple of mind-wrecking business jargons, tips and tricks on how to grow one's investments and meet financial goals but as well as share their own personal financial experiences from which the attendees can relate to. Overall, this simply connects to the fact that experience is really a great teacher.

Mr Renz Leano, founder of OFSI, talking about the importance of being financially literate

So where can we attend Financial Literacy seminars?

Now that's a good question with a lot of answers. In the Philippines, there are a couple of financial literacy groups from Bo Sanchez's Truly Rich Club to IMG to Colayco Foundation. These groups sometimes cater to similar needs with different objectives but still present different strategies when it comes to investments, business and personal finance. IMG for one, since I'm a member myself, centers its mission on its 5 Pillars to Financial Freedom which in simple terms is all about building one's financial foundation one-by-one from having an emergency fund, to clearing one's debt, protecting one's self by having an insurance and so on. And of course, it should also be clearly noted that by participating in these organizations, one should pay a membership fee or regular contribution for that matter.

For someone living outside of the country, like me, the easiest and accessible way is through free webinars uploaded on youtube or other video platform websites, blogs and seasonal financial awareness programs offered by social groups in partnership with the Philippine Embassy to enlighten OFWs on how to manage their money.

Overseas Filipino Stocks Investors (OFSI) group based in Kuwait after attending a successful Stocks 101 learning session. Credit to the OFSI in house photographer.

Luckily, here in Kuwait, I was invited to be part of a recently established organization called the Overseas Filipino Stocks Investors (OFSI) which advocates to teach free financial literacy for all Filipinos focused on Stocks Investing. The group's main objective is not only to aid free financial guidance especially when it comes to stocks investment but as well as build awareness on the possibilities on how to achieve one's monetary set goals through this pecuniary instrument but also in order to help our country's economy through participating in the stock market. The group started small through like-minded friends which shares the same desire to be financially free and abundant. Through OFSI, its founder and main group members are hoping to encourage more kababayans to be financially literate by providing Basic Financial Literacy seminar specifically catered for OFWs since the people behind this cause are also OFWs themselves. Although I'm new in this field of financial learning, the road to financial freedom looks bright and really exciting!



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See my very first post about my journey towards financial freedom and abundance at Investing 101: The Basics of Financial Freedom

Cariñosa Philippine Folk Dance

Last 23rd of May, the Pinoy Youth Ministry in Salmiya Kuwait showcased a popular Filipino Folk Dance called Cariñosa representing the beautiful culture and tradition of the Philippines in front of different Ambassadors, selected Kuwaiti officials and Catholic parishioners at the Al Zumerida Palace Hotel in Salwa. The event was organized as a "Family Dinner for a Cause" by the Catholic community of Kuwait City Church for the completion of the cathedral in Bahrain.

PYMSK in traditional Filipino costume

Cariñosa Dance Presentation

Video courtesy of SaintGregorie Productions

The presentation lasted for less than 8 minutes combined with colorful video presentation showcasing the beautiful culture and popular tourist destinations of the country.

Investing101: The Basics of Financial Freedom

I love to travel. I love to go shopping. I love to dine and taste different kinds of food. I want to experience what life has to offer. But with my measly income, how can I experience all of this? I'm not even a fan of credit cards and I obviously don't want to be buried in debts just to cater to these wants.

Besides, I'm not getting any younger. I'm already in my late 20s. Five years from now I have plans of settling down (in God's will). I also want to own a house, send my children to good schools and live a comfortable life without thinking much about financial problems. I don't want to work 24/7 a day and live in complete poverty. I want to enjoy my life..financially free to be exact.

But the big question is.. HOW?

When I was in school, everyone would tell me that I need to study hard. Why? So I can finish school and get a good job afterwards. No one encouraged me to try and pursue having my own business. The old mentality of Filipino families is that when you have good education, you are guaranteed to get a good job, you can work abroad and earn good dollars. Funny thing is, not everyone who works abroad earn good dollars. Not everyone has the same rags-to-riches story after working abroad.

So how can I be financially free? From reading tons of articles, I found these easy steps that I'm currently following...and hopefully will continue to do so. *crossesfingers*

STEP 1 is important. KNOW ONESELF. Knowing one's goals in life is important. On my part I would have this little notebook to write down all the things that I want to accomplish and that includes being financially free in the near future. Somehow seeing my goal written down motivates me and obviously this gives a positive sense of inspiration to achieve that objective. My target goal: earn Php XX millions after 5 years. Too big? I don't care.

STEP 2 is obvious. CLEARING ALL DEBTS. Thankfully though I don't have any credit cards, loans or personal debt from anyone. I'm not saying that Credit cards are bad, since they're handy especially if you need instant cash, but based from my Mom's experience -- the interest rate will eat you up. (As of this writing the rate is around ~3% a month of your total accumulated expenses) For example you have Php 30,000 debt on you credit card and you have to pay Php~900 (interest rate) + other charges monthly. Imagine what you can buy with Php 900.

STEP 3 is simple. LEARN HOW TO BUDGET. This is clearly organizing your thoughts on what you want. Check the video for more info credited to Pesos and Sense. :)

STEP 4 needs discipline and connected with the previous step. ALLOCATE A FIXED AMOUNT FROM MONTHLY SALARY FOR SAVINGS. This will not only teach you discipline to save from your monthly income, but it will also teach you the strategy called Compounding Interest. This simple matter of saving up can give you many options for your future needs where you can build your own funds. One important fund that people must have is called an Emergency Fund (3x worth your salary if you're single, 6x if you're married) which is supposedly good as cash that you can rely on when something unlikely happens like losing your job, etc. Dream Fund is something that most people want but never really thought of saving much for. This of course includes money saved for leisure activities and even for shopping for expensive items that's on your I-want-to-have-list. Another important fund which many people doesn't consider much is Retirement Fund, which most Filipinos rely on their future SSS pension. I'm not saying you need to rely on it 101% but there's a good chance that due to inflation rates, your pension 20-30-40 years from now won't be considered that much. Overall, there's like different other funds to enumerate but it still depends on you on where you'd want your savings to be used in the near future. For a good visual example, check the video again.

STEP 5 is a must. GET INSURED. When people hear insurances, they'll think of pre-need companies (for education etc) that went wrong. But insurances, primarily life insurance is fixed, stable and has been in the country for a century. Specifically a life insurance, is a service that would ensure that whatever happens to yo, your beneficiaries would be taken care of. You can of course get a health insurance, which can help you get covered when you and your family members are sick. Thankfully though here in Kuwait I have a health insurance that is compulsory when the visa is renewed. But the question is - what if I'm in the Philippines and *knockonwood* I would need an HMO to cover my expenses and I don't have one? That's a good question right? For more info, check this LINK.   

STEP 6 needs focus. KNOW WHERE TO INVEST. Thankfully there are a lot of financial instruments available for people to invest. There's the stocks, mutual funds, UITFs, treasury bills, bonds, etc. Since I'm a fan of Pesos and Sense videos, check this out.

These steps can be personalized according to your needs, but bottom line is.. when it comes to financial freedom it's all about having focus, discipline and knowing what you really want. :)

PYMSK

Life is all about changes and one of these changes struck me last year. Who would have thought that aside from my SFC family, I would continue to venture out my spiritual journey in serving God as an usherette during the Holy Eucharist? I'm Catholic-schooled but never did I imagined myself dressed in a formal church uniform while greeting people and leading them towards their seats before the mass would start. Nor would I participate voluntarily and happily in any church-related activities that would consume most of my supposed weekend and serve others. But a year has passed, a lot has happened and I'm still part of PYMSK or the Pinoy Youth Ministry in Salmiya Kuwait organized by the Filipino parish priest in St. Therese Church, Fr. Ben Barrameda.

This year marks the Pinoy youth group's first year anniversary. Even us, didn't really expect that the group would survive this long. Obviously, groups are just good during their inception and count towards a couple of weeks until it'll die a slow and painful death. But PYMSK proved different - or at least that's how we all see it. Hopefully though this won't be our last anniversary but would only just be the start.

PYMSK 1st Anniversary Video. Credit to SaintGregorie

I am Beloved

I am a living proof of God’s victory.

As proud as it may seem, I am confident enough to say that I am. I'm only in my late 20s and haven’t really proved anything much to the world, but as I recount the years of my existence, I am 101% certain.

I've experienced joy, frustrations, heartaches, depression and betrayals. My life issues may not be as appalling, bold, tear-jerker and significant as the others but in my world, they are as big and horrendous as any problem can be. I even doubted at one point the reason for my way of life, but interestingly never felt uncertain that God existed. I'm a control freak and I like things to go my way. I've been rebellious at times but would always find my way back. I've got plans and have always dreamed of fame, fortune and pleasure. But unfortunately whatever I do, God never gave me what I wanted.

Instead, he would always give me what I need.

My decision to come to Kuwait came in a jiffy. My salary working in the Government sector is not enough but I'm about to be promoted permanently. My career’s doing great although my routine has turned dreary. My social life is also blossoming, with great people surrounding me. I've also got future plans to travel and do things that I've always wanted to do. But somewhere in my comfortable life..I felt lacking. You know that weird sense of emptiness that people at my age shouldn't be feeling.

Is that what you call mid-life crisis?

Dude, seriously?

I have absolutely no idea. I am happy and I know that I feel content somehow.. but the feeling of wanting to do something and be somewhere won’t go away. So when the chance of Kuwait came up, BAM! I’m out of the country in an instant. Sitting on the plane bound for Kuwait with my Mom in tow is not a picture I would want to remember for the rest of my life, more so convincing myself the reality that just dawned on me. I’m suddenly unemployed, broke, no social life and going to live with my parents for the next year or so. Convincing me of my new reality because of the out-of-the-blue decision suddenly came to haunt me.

Anyway I also do want to find a sense of adventure and something that’s out of my control right? But then you can lie to everyone but definitely not to yourself. So what’s the main reason why I did that?

Escape.

I want to be something else. To be livin’ la vida loca!

I want to have an adventure, to do the things what other people have experienced. I want to have a fun, roller-coaster-kind-of-life. Besides life is too short to waste on unimportant things and we obviously live once. Just like the old saying goes, Carpe Diem!

Fast forward more than two years from that plane ride I'm still stuck living in with my parents and only earning an income through my freelance online job. My idea of adventure didn't happen for things that I found myself lacking, financially so to speak. I'm also still patiently on hold waiting for a more stable work application that I have processed for the last two years and counting. Even though I've decided to give up for the nth time, but somehow when I'm on the verge of doing that small abrupt wake-up calls out of nowhere would overturn my decision to stick with it through thick and thin. It’s probably called divine intervention? No idea really, but I guess it’s a way that God tells me to be a bit more patient. Yes, patience. It’s a very big word that I have obediently been doing and applying to my life ever since.

But then, amongst the struggles that I'm still undergoing, I do however found myself going back to serving God - faithfully and sincerely. Of all places, why in Kuwait? I don’t actually know the answer but I just found myself going with the flow of things. I even developed a new kind social life that is centered with my Church friends and SFC community.

I obviously couldn't really afford expensive things with the very small income that I have, but interestingly I was able to buy myself a brand new Iphone, re-stabilized my wrecked savings account and even paid for this Dubai trip. I even found myself splurging on branded clothes, shoes, bags, accessories and eating at expensive restaurants without asking money from my parents at some point. Amazingly I was also able to help a cousin pay for his tuition from the surplus that I got from my freelance job. Yes, surplus from a very small income that came from a work unexpectedly. I even had the chance to do the things I found myself passionate about like photography and writing after letting myself be in complete surrender to the call of service.

But what’s more interesting? For the past 27 years, I never really found myself committing to any kind of relationship. It’s not that I am scared of love or being in love but I just probably never felt the need to. I thought I am content but then one day God gave me that unexpected gift that gives me joy – an answered prayer. Hopefully. 

All of these blessings suddenly poured unexpectedly. Things I never really thought would come amidst the choices and sacrifices I made prior to deciding to follow His call. Before I may not really know their significance or why these hardships have occurred, but today I am proud to speak out my realizations -that they are God’s victories, my victories.

Honestly, I could go on a different way. I can keep a deaf ear to His call for patience, faithfulness and service. If I hadn't been obedient to His call, I wouldn't be here. I still would have been stuck in my old life where I thought I was really happy with. But life is all about changes and these changes are inevitable. Even though I didn't get the things that I planned for and the dreams that I have always dreamed of, I know God is leading me to the path where I'm supposed to be not where I want to be.

Every day is a challenge but every day is also a victory from God that I would be proud to cherish.

Bigkis Bandang Pinoy Concert and Global Pinoy Singing Idol Kuwait

Official event poster. Image credit to SaintGregorieProductions

Therefore will I give thanks unto thee, O LORD, among the heathen, and sing praises unto thy name - Psalm 18:49

The past 2 weeks has been a crazy roller coaster ride. Who would've thought that I would be part of two amazing music events to be held on the same week? I'm not an amateur nor a pro at handling events but I've personally handled a wedding, debut, seminars/workshops/conferences, drama play, school contest and fair and even a Bingo event in our local community back then. But this is somewhat different since both affairs were done for a cause. The rock concert aims to contribute in building a catholic church in Bahrain while the singing contest is to promote Filipino talents in the Middle East as well as support the scholarship projects of ANCOP in the Philippines.

The Bigkis Bandang Pinoy Concert for a Cause which was held last Thursday, September 5 at Don Bosco School in Salmiya was organized by the Pearl of the Orient (PYMSK and TFC) led by Fr. Ben Barrameda in cooperation with Pinoy Q8 Talents. Different Filipino organizations also helped sponsor the event (FAST, Pindot, PinoyHubs etc) and the night was a success with 7 Pinoy local bands (Middle String, 8th Note, Beats &Pieces, Blue Chords, Lillium, Impulse and Abandoned) who graced the stage with awesome live music showcasing Filipino musical talents.

Image credit to Among Ben

Moreover, the ANCOP Global Pinoy Singing Idol Kuwait Finals was held at the Ballroom Hall of Carlton Hotel in Kuwait City last September 6, Friday. The contest is a project of ANCOP in cooperation with ABS-CBN DZMM and was sponsored locally by ICSA and some generous individuals. This singing contest does not only aim at showcasing Filipino prowess in singing but as well as in promoting ANCOP Global Walk 2013 in support for ANCOP's scholarship projects in the Philippines.

Official video teaser for ANCOP Global Pinoy Singing Idol Kuwait Finals 2013

Official ANCOP GPSI Kuwait Finals poster

Eight (8) amazing talents graced the stage rendering their own version of Louis Armstrongs "Wonderful World" and singing their heart out with their chosen Finale pieces.

Image credit to ANCOP's Jon Parian

At the end, the Jazzy Popster contender from Hawally, Ms Lyza Pajo won the event bagging the all expense paid round-trip airfare to the ANCOP Global Pinoy Singing Idol Middle East Finals on September 27. From there, two (2) winners will represent the Middle East in the ANCOP Global Pinoy Singing Idol Championships to be held in Manila on December 2013/January 2014. The champion will take home $1000 USD cash prize, the title of ANCOP GPSI Champion for 2014 and possibly a recording contract* from ABS-CBN.

As of this writing, ANCOP GPSI Kuwait winner is already preparing for the Middle East finals so I'm crossing my fingers now that she'll hopefully win the said competition. Go Lyza! Go Kuwait! :)


Note: (*) - still in talks 

Practice Prenup Photoshoot

"I found the one my heart loves." - Song of Solomon 3:4 

I'm a self-confessed freelance noob at photography and certainly not good at doing photoshoots for other people. I've never even taken any special course for learning Photography..though I did remember having basic Photography 101 during my Art class in College but that's it. I do know the technical terminologies in using an SLR camera but my experience with my babyniko (Nikon D5100) only goes as far back as when I bought him on May 2011 during his first release in the market. I also covered a couple of events from seminars to conferences to gatherings to weddings to festivals but usually only around friends and community people (CFC/SFC and PYMSK) only. Add that I also kind of limit my creative skills to landscape views and yes, according to my mood since my hormones seems to overpower my supposed artistic skills. Though, I do aspire to be a pro someday.

Anyway, as a practice for my so-called future other profession (ahem ahem), I was contracted by my cousin Kuya Daryl and his lovely fiancee Ate Sassy to do their Pre-Nuptial Photoshoot here in Kuwait. Their official and actual photoshoot would actually be covered in Bacolod City a few weeks before their wedding on September 21st. So since the preparation for this practice Pre-Nup shoot was only a day before the pictorial, everything was done in a cram. Funny thing, the night before we even went to Ate Sassy's bridal shower and I only had 4 hours of sleep. But the day was a blast and the photos.. I found them totally amazing! Well maybe I was feeling too proud of myself for being able to accomplish something but like what I said "it's a labor of love".

Location: Al Kout Mall in Fahaheel

Mood: Sudden burst of inspiration out of nowhere :D

Filipino Bloggers in Kuwait

Blogging is an expression of free will. It is a form of communication done through the use of online tools that vary depending on the blogger - the person behind the blog site. Blogs certainly differ from person to person and the blogger's interests. Some would either write short stories, opinions on things or tell tales of their real life experiences. Writings would also vary depending on the blogger's intent on his/her post, the structure structure or writing style used and language. While others capture quality moments through their lens which they share by posting photos or videos, blogging has been used mostly to express oneself. Interestingly, some has also used this online tool in earning a good income through one's passion while people like me simply just do this as a means to practice what I am fond of doing - writing.

Personally, I also know some people who use their blogs as a form of advocacy about real life experiences which inspire and motivates others to support their goals. These people come from different backgrounds and most of their stories share the same sentiment - being an OFW (Overseas Filipino Worker) who was forced to work out of the country for a greener pasture. The President of FBK (Filipino Bloggers in Kuwait) Ms Gracia Amor uses her blog DiaryNiGracia to create awareness about the current issues and lives of Filipino OFW here in Kuwait. Another member, Tito Al Manlangit's Soujournal blog is catered to show his love for landscape photography which reflects his artistic side and Architectural background. Some also uses their blog to chronicle their life's activities as a tool to communicate with their friends and relatives across the globe like Tita Freda Contrera's A Blessed Life.

Official Teaser Video for FBK's 1st Anniversary. Credit to PamatayHomesick.

Through their blogs, these Filipino Expats came together to create a small bonded group that advocates blogging as a form of communication not only as a past time (like in my case), but as well as use this medium to share and disseminate valuable information to other Filipino Expats who are in need. This blogging group established only last year called the Filipno Bloggers in Kuwait (FBK) has found itself an important role and responsibility in supporting important advocacies and creating awareness for other Filipinos here in Kuwait through these online tools to aid less fortunate fellow men in their needs. For the past year, the group has done charity work with the Philippine Embassy and other Filipino groups in helping maltreated fellow OFWs who were taking shelter in the Embassy. A few weeks from one, FBK will be hosting a Blood Donation project at the Kuwait Central Bank on the 20th of September 2013 and a free seminar about Blogging at the Philippine Embassy on a first-come-first-served basis.

Blood Donation Project. Credit for image go to FBK

Passion is a God-given gift and it is something that people should know how to use not only to entertain oneself but as well as use it responsibly to help others. Helping doesn't need to amount to a great extent in order to brag about something, but it can be done even in a small form through sharing valuable information that can give a sense of positive enlightenment.

Filipino Mass Wedding

"And I will betroth you to me forever. I will betroth you to me in righteousness and in justice, in steadfast love and in mercy." -- Hosea 2:19

The Theresian Filipino Catholic community in Salmiya recently held a free service called "Kasalang Bayan" from April 5 to June 21 respectively for Filipino couples who wished to be wed in church rights. This event was spearheaded by Fr. Ben Barrameda and the newly formed Pinoy Youth Ministry in Salmiya Kuwait (PYMSK).

 The last scheduled Kasalang Bayan for this year will be held on  October 21.

Strict Implementation of Laws

News of thousands of people being deported out of Kuwait has raised fear among the expats. Different concerns has been raised and one report from a local newspaper even told tales of Indians asking their Embassy for help due to manhandling by the authorities. But who knows what is really happening? Some stories may well be exaggerated but then the fact that a number of people is being deported daily due to illegal issues is not a good thing. And since this is a sensitive issue that tackles violations, punishments and worst -- being thrown in prison cells for not following Kuwait laws, expats should be more cautious and disciplined. Besides, this is not our country and we are simply aliens living in a foreign land.

I saw this on an FB group page telling people to be more alert during checkings done by the police. I f you read it more closely, all the details were already existing rules here. No idea why some people are exaggerating this now..but anyway it's better be informed than being ignorant of what's happening around

Although this massive clean up of illegal residents is a bit of a shock due to their increasing numbers, abiding and respecting a country's law is compulsory in order to continue living freely and without any kind of hassle.