Monthly Archives: August 2015

Angat Pilipinas Desert Convention 2015

30 Sunday Aug 2015

Posted by in Personal Financing, Speaking Engagement

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I would like to report that Angat Pilipinas Desert Convention 2015 was a success. The financial literacy seminar went well as planned in 4 corners of Saudi Arabia, Riyadh, Al Hasa, Jeddah and Al Khobar. The seminar was attended by more than 200 OFW in 4 locations. I can share more information in Riyadh because I am one of the speakers in the event.

In Riyadh we were visited by Mr. Rustico SM De La Fuente, Labor Attache, Embassy of the Republic of the Philippines, PHILIPPINE OVERSEAS LABOR OFFICE (POLO), Riyadh Saudi Arabia and glad to hear from him that they have appreciated the advocacy that Angat Pilipinas Coalition for Financial Literacy is doing. They have also shared that POLO’s Reintegration Preparedness Program has two major components, Financial Awareness and Entrepreneurship Development.

The seminar was presented by 4 speakers namely Aldwin Resureccion, Odessa Liwanag, Kristine Rodriguez and yours truly. We had our Volunteers, Belle Olaso – Photographer, Paolo Laxamana – Technical Support and Laarni Resultan – Registrar.

We had a great seminar as we have received positive comments from the attendee. There are some attendee came from almost 130 kilometers from Riyadh Saudi Arabia.

There was part of the event that we asked the attendee to group themselves and share with each other on how OFW are being scammed and here are what they have shared:

  • People get scammed because of TRUST, there are times that they are just trusting without checking the legality of a certain company that is being referred to them.
  • People get scammed due to GREEDY, when people saw lots of money in Social Media they could easily get hooked in the advertisement even it is publicly announced that it is a scammed company.
  • People get scammed due to IGNORANCE, people try to get into an investment without first learning the ins and outs of it. People dive to investment without knowing that there are RISK in investing.

We have even received suggestions through our survey which I will share later.

OFW became interested also with Stock Market and Pooled Funds, which might be the subject of our future seminars. Hope that future seminars will be attended by more and more OFW.

I would like to thank all the attendee of the seminar and I hope we have help them in their financial planning. Below are some pictures taken from different parts of Saudi Arabia.

Angta Pilipinas (13)

Angta Pilipinas (1)

Angta Pilipinas (3)

Angta Pilipinas (4)

Angta Pilipinas (5)

Angta Pilipinas (7)

Angta Pilipinas (9)

Angta Pilipinas (10)

Angta Pilipinas (12)

Angta Pilipinas (14)

Angta Pilipinas (15)

Website: Angat Pilipinas Coalition for Financial Literacy Seminar 

Electronics Engineers in Riyadh Financial Literacy Seminar

27 Thursday Aug 2015

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I have been invited by Engr. Perry Camson, Chapetr President of IECEP Riyadh Chapter to conduct a 1 hr Financial Literacy Seminar. This will be held at Orchid Hotel, in Riyadh Saudi Arabia on August 28, 2015. It will almost be the same seminar that I conducted with IIEE last June 2013.

The seminar will discuss about Financial Literacy 101 as follows:

  • Money Mistakes Among Pinoys
  • Income Management
  • Increase Cash Flow
  • Debt Management
  • Create Emergency Funds
  • Ensure Proper Protection
  • Build Long Term Savings

For speaking engagement you may contact me through our contact page.

I will update this post after the seminar…..

Taking Advantage of the High Exchange Rate

24 Monday Aug 2015

Posted by in Personal Financing

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As an OFW, I am used of sending money to the Philippines with an exchange rate of 1 USD to Php 44. But there was a turn of events in the world economy that is why from last month I can see an exchange rate higher that Php 45. I know that some OFW are happy on what is happening because higher exchange rate will mean higher money will be received by their relatives. But is it really true that money value will be higher on this days? Actually it is not because the higher the exchange rate the lower the economy, It is indirectly proportional. The PSEI (an economy indicator of Philippines) keeps on going low.

The following scenarios might be experienced

  • Higher cost of commodities due to higher cost of raw materials
  • Most of the items that uses imported materials will definitely have higher prices.
  • The higher tuition fee.
  • Fare hike, due to the cost of maintenance auto parts
  • Low investor in the Philippines

So how will you take advantage of the situation?

If there are some surplus money due to exchange rate it is better be placed in an investment. If you are paying your land or house amortization at an amount of Php 44,000 before you need to send USD 1,000 to pay off your monthly amortization. Now if you send the same USD 1,000 it will be converted to Php 45,000 therefore you will have a Php 1,000 surplus. The surplus would be better placed in an emergency fund or be placed in the stock market or an equity fund. Economist knows that this will be temporary. Therefore, if you put your surplus money into an investment, the moment that the economy recovers and exchange rate become lower, your surplus money will grow.

I hope OFW will take advantage of the situation and not just spend money in wants.

2nd Financial Literacy Seminar in Saudi (Riyadh, Jeddah, Al Hassa and Al Khobar)

09 Sunday Aug 2015

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Through the initiantive of Angat Pilipinas we will be conducting the 2nd run of the Financial Literacy in Riyadh, and this time it will be simultaneous in Jeddah, Al Hasa, Riyadh and Al Khobar. The event is called Angat Pilipinas Desert Convention 2015. Volunteers of Angat Pilipinas will be teaching Financial Literacy. I will be one of them in Riyadh Area. This will be on First Registered First Served basis, if we have occupied the number of participants allowed in the embassy then we have to stop the registration. So you better register here if you want to attend in this event.

We believe that OFW’s needs to learn how to handle their finances. Being an OFW is not easy, OFW needs to learn handle their finances in order not to waste the time spent overseas just for wants.

Register Here >>>> http://bit.ly/APDC2015-KSAreg <<<<

Topics will be as follows:

  • Learn How to Eliminate/reduce Debts
  • Be protected Financially
  • Be a responsible Spender
  • Avoid and Fight Scams
  • Save and invest in Paper Assets
  • Start a Business
  • Achieve Financial Freedom

Register Here : >>>> http://bit.ly/APDC2015-KSAreg <<<<

Note : A minimal fee might be collected for food.