In a 2021 survey by the Bangko Sentral ng Pilipinas (BSP), only two percent of Filipino respondents were able to correctly answer all six basic financial literacy questions. In order to improve financial literacy in the country, there is a need to push for more financial education initiatives that will guide and empower consumers, especially the underbanked and underserved sectors, in managing their finances.
Tala, the world’s first fintech company for the Global Majority, understands the importance of financial literacy to accelerate financial inclusion. In response to the need for stronger financial education in the country, TALA Philippines rolled out TALAkayan, a series of workshops together with financial literacy advocate and money expert Salve Duplito where participants can learn money management skills and be equipped with useful tools for their financial journey.
Each workshop is designed in a way that is interactive and catered to the needs of the respective audiences, using examples and scenarios that are relatable and relevant to their everyday life to make learning more effective. Some of the most recent TALAkayan workshops were conducted among CCT (conditional cash transfer) beneficiaries in Pasig City, and women and mothers in Quezon City.
Last July 13, aspiring and budding entrepreneurs, and MSME (micro, small and medium enterprises) owners attended the 13th run of TALAkayan at the Trinoma Activity Center, Quezon City. During the learning session, Duplito shared useful tips in allocating budget properly and managing debt as well as some basic concepts in investing and starting a business to the participants.
“I cannot emphasize enough the importance of financial literacy and education in achieving your goals and unlocking your full potential. Whether it’s to start your own business, support the needs of your family or achieve financial stability, awareness of basic finance and budgeting concepts is key to managing your finances better,” said Moritz Gastl, General Manager of Tala Philippines.
An exhibit that displayed products from 17 local brands and enterprises from Iskaparate Network and Teleradyo Serbisyo’s (DWPM Radyo 630) show, Panalong Diskarte, was organized to inspire more entrepreneurial Filipinos to venture into business and encourage consumers to support homegrown MSMEs.
By boosting financial literacy and education in the country, Tala is steadfast in its commitment to bridge the financial gap for the Global Majority and unleash their economic potential.
