Republic of the Philippines

BICOL UNIVERSITY
College of Business, Economics and Management
Department of Accountancy
Daraga, Albay
AY 2019-2020

FINANCIAL LITERACY FOR THE YOUTH (FLY): UNBROKE

BY MONEY MONDAY
AN ADVOCACY PROJECT PROPOSAL

As a final requirement in Purposive Communication

Proponents:
Diaz, Kate Allison G.
Garcia, Mary Frances R.
Lim, Iris J.
Mingoy, Ken P.
Moran, Allyza Joyce B.
Sustal, Aeron

BS Accountancy II B

Ma. Julieta T. Borres, PhD

Adviser

December 2019
 THE PROBLEM
With the continuous thrusts of the Philippine government to improve its economic
condition, it is imperative that its citizens’ responsiveness be aligned to the country’s
ideals. To promote sustainability of its achievements, it is also important to recognize the
role of the youth in the growth of the economy.
One aspect of economic development that the country must focus on is financial
literacy, especially among the youth. According to the Bangko Sentral ng Pilipinas
(BSP), the financial literacy level of an average Filipino falls below average.
In a statement, the BSP said Filipino adults could correctly answer three out of
seven financial literacy-related questions covering basic numeracy, computing
compounding interest, fundamentals of inflation and investment diversification. Based
from the results of a study conducted by the World Bank entitled Enhancing Financial
Capability and Inclusion in the Philippines, only 2 percent of Filipino adults answered all
questions correctly and 10 percent had zero correct answers.
In addition, the youth nowadays initiate the "experience economy" wherein
people exhibit a behavior of spending their money on short term experiences and trends,
not minding the prices, context, and if their money is enough to cover their needs after
the purchase. Examples of these are attending concerts, the frequent purchase of
expensive clothing, and dining at samgyupsal restaurants.
The World Bank study indicated that money management habits formed in
childhood persists until adulthood. With this, the best way to nurture sound financial
culture and behavior among future adults is to start practical financial management
lessons at a young age.
According to the BSP Deputy Governor Chuchi G. Fonacier, the youth will grow
up to carry the responsibility of building a more productive, more progressive and
inclusive Philippines. In fact, many will become leaders in industry, politics and
businesses- which is why Fonacier stated that now is the time to equip the youth with
financial literacy, the set of knowledge and skills necessary for making wise financial
decisions.
 REVIEW OF RELATED LITERATURE
According to a capability survey done by the Bangko Sentral ng Pilipinas (BSP)
with the World Bank in 2015, the financial literacy of a person can be measured by his
familiarity with basic terms concerned with money such as interest rates, compounding of
interest, the purpose of insurance, fundamentals of inflation and investment
diversification. It was found that the financial literacy level of the average Filipino is
below average and that those who knew more about financial terms were more
responsible with their finances. Those people were the ones who passed the test and who
save regularly; they are 24 percent less likely to buy things they could not afford, 11
percent less prone to over borrowing, and 20 percent more likely to have money left after
paying for basic necessitates.

Moreover, children start grasping financial concepts like saving and spending at
the age of three years old; and a report by researchers at the University of Cambridge
revealed that children’s money habits are formed by age 7 (Kobliner, 2018). This means
that financial literacy start as it is being taught at home by parents or their guardians.
With 89% of Filipino youth relying much on their parents’ financial knowledge (Visa
PH, 2018) and only 25% of Filipinos being financially literate (Standard and Poor, 2015),
many would end up not knowing what to do with their money.

In a study done by World Bank, results showed that money management habits
formed in childhood stay into adulthood. Those who began saving as children display
better attitudes to saving, and tend to outperform their peers who did not develop the
habit early in the areas of choosing financial products and services, monitoring expenses
and planning for retirement. These data suggest that the best way to nurture sound
financial culture and behavior among future adults is to start practical financial
management lessons at a young age.

According to researchers from University College London, it does not mean that
one’s habits cannot be changed, they found that the average time it takes for a new habit
to stick is actually 66 days; furthermore, individual times varied from 18 to 254 days.
From being labeled as the worst savers in Southeast Asia, Filipinos can acquire better
money management habits by having a right mindset and awareness of oneself.
Prioritizing one’s needs from wants as well as looking for cheaper alternatives can also
make a significant difference.

Some other proven saving habits are by buying things of quality, not quantity.
Acquiring durable items, whether expensive or not, that can be used several times,
instead of constantly buying things that are cheap but brittle. The popular concept of
shared economy can also be used when buying in bulk and sharing the cost with other
people (Chua, 2018). Moreover, it is important to adapt to one’s financial capabilities, but
being rich does not justify spontaneous buying and being poor does not mean that one
cannot buy valuable items. Being aware of one’s position can bring things into
perspective and allow one to optimize their given resources. Making goals can also help
in saving in addition to setting small objectives in order to continue on in achieving a
greater plan. Saving is not a hard thing to do once proper habits are cultivated. In a world
where temptation is prevalent, there is always a choice whether to control oneself or let
the desires take control.

Current Situation

In a recent study conducted by the Asian Development Bank, the Philippines

ranked 68th in a worldwide financial literacy index. Due to this and several other
increasing financial problems in the country such as investment scams victimizing even
highly educated Filipinos, the government has made actions in order to educate the youth
about understanding the varied financial areas such as managing personal finance, money
and investing.
Based on statistics, 45 percent of the Filipino population is between the zero to 19
age bracket as of August 2019, growing at a rate of about 2 percent annually, instilling in
them proper managing finances skills is encouraged at an early age. Especially since
studies have shown that people who develop sound financial habits at young age are more
likely to adhere to these throughout their lives. In contrast to those with low levels of
financial literacy who are less likely to save, accumulate less wealth, incur more costly
loans and transact in a high cost manner. Poor financial decisions, likewise, have a long-
lasting effect on their families and society as a whole.
Following the implementation of the National Strategy for Financial Inclusion,
under Executive Order 208, series of 2015, which includes financial education as a key
pillar and serves as a platform for public-private partnership to promote shared objectives
and create multiplier effect on financial inclusion and financial education. BSP, in
partnership with DepEd, have co-developed learning tools, among which are 10 videos
and 27 lesson plans, ready for use by 800,000 teachers for classroom instruction for about
24 million learners in 47,000 public schools.
The government also aims to integrate financial education in the K to 12
curriculum by looking for many efficient ways to inculcate and nurture sound financial
behavior in the youth. The growing fondness for everything digital was discovered to be
the key. The blend of digital tools with traditional classroom setting can make generate
greater interest from students.
Some of the programs that have been implemented are the Sapat-Dapat
Comprehensive School Program which was organized in Cebu in 2018. Its goal is to
make a keen effect in the Filipinos’ mindset, particularly high school students, by
introducing them to financial education. It has received positive reactions as student
began saving their money in piggy banks, and their financial literacy awareness
heightened while they shared their knowledge to other students.
Cashville Kidz is another program by Maybank that aims at addressing the need
for FinEd in local schools. It shows a creative eight-episode animated cartoon series
designed to teach elementary children the importance of money, in order to prepare them
to meet future financial challenges.
Despite the need for financial education, there are still criticisms about its impact
on financial behavior. In a column written by Atty. Dodo Dulay for the Manila Times, he
stated that financial literacy classes have not done much to improve people’s financial
behavior. This means that the current implemented programs done by the government
and other institutions lack sustainability and effectivity.
One key in making financial education effective for Filipinos is to communicate it
effectively instead of merely instructing it. It should be an engaging, audience-specific
approach instead of a one-way deluge of ideas. Experts in the field of finance, through an
interesting method of implementation, should develop a structured and sustainable
financial education with an avenue for participants to apply their learnings. In this way,
Filipino financial literacy, as a national concern, would be addressed as it should be.
With regards to this, the citizens themselves should also be concerned with
financial literacy, beyond considering it as only a personal matter. They should also strive
to be a part of every program, as well as encourage others in order to create a sustainable
and growing economy for future generations to come.
 CONCEPTUAL PARADIGM

Financial Literacy
(Mindsetting, Saving,
Spending, Budgeting)

Youth’s Human Financial Behavior Financial Well-

Capital (Habits) Being
(Allowance)

Other Influences
(Cultural, preference,
demographics etc.)

Figure 1. Conceptual Paradigm

Huston’s (2010) model has been used as the main framework and has been
modified to create the conceptual paradigm. In this framework, it considers human capital
as the prime and initial factor that affects all other aspects regarding the financial well-
being of a person, which is the bottom line. Its major distinction with Huston’s model is
the interchanged treatment between financial behaviour and financial literacy, wherein
the financial behaviour is treated as a directly dependent outcome of the human capital,
while financial literacy and other influences are considered independent from the human
capital (represented by broken lines), but is directly attributable to the financial behaviour
(Kaiser and Menkhoff, 2017). The reason is that the education of the youth in financial
literacy as well as the other factors is not necessarily a product of the human capital, but
rather as external factors that affect the overall financial behaviour of a person. Finally,
the bottom line is the financial well-being, which is a direct outcome from the three
preceding factors, the effect of financial literacy and education, the financial behaviour
and the other influences. The proponents of the advocacy utilized this paradigm to
highlight the significance of financial literacy and education among youth by evaluating
their financial behaviour based on their allotted human capital (allowance), financial
behaviour and other influences that affect their overall financial well-being.
The advocacy is divided into three phases, the first phase will emphasize on the
relationship between the human capital and other influences to the financial behaviour.
This will be conducted through an ambush interview and asking several questions
regarding the subject.
 Youth’s Human Financial Behavior
Capital (Allowance) (Habits)

Other Influences
(Cultural, preference,
demographics etc.)

Figure 2. Diagram – Phase 1

The next phase will focus in applying the concepts of financial literacy and
education, particularly financial mind-setting, saving, spending and budgeting to enhance
the financial management skills of the youth and to properly construct their financial
well-being. This part of the program will involve trainings and seminars promoting
financial education and improving the financial literacy and financial capability of the
target participants.
Finally, the last phase will serve as an application of the prior phases through a
practical challenge that involves the four fundamental practices on financial literacy.

Financial Literacy
(Mindsetting, Saving,
Spending, Budgeting)

Financial Behavior Financial well

(Habits) being
(Application)

Figure 3. Diagram –Phase 2 and 3

As a whole, the intent of the advocacy is to provide the youth a strong foundation
about financial awareness, educate them how to manage financial resources efficiently
and to make it be a habit to them for the long run. After all, well implemented financial
literacy and education programs lead to a clear improvement in financial behaviors and
well-being, which is a critical factor not only to individuals but also to the economy as a
whole. (CFBP, 2019)
 ORGANIZATIONAL PROFILE
Money Monday is an organization formed for the purpose of promoting its
advocacy, Financial Literacy for the Youth (FLY): unBroke. The members of the
organization are second year students of Bicol University College of Business,
Economics and Management under the program of Bachelor of Science in Accountancy.
The name of the organization comes from the words "Money" which relates to
finance and "Monday" which connotes start or begin as it is the first day of the work
week.
As financially inclined individuals, the group aims to help their fellow students to
be financially literate, especially those who are under non-finance related programs. The
group also shares the belief that learning practical money management as early as high
school to college years would benefit the youth as the successsors of the responsibility of
driving the economy to development.
The following are the members of the organization and their specific roles:

President
The President supervises the overall implementation of the project. Thus,
monitoring each aspect of the project including planning, establishing partnerships with
various agencies to content creation would require his approval to be enforced.
Vice President for Internal Affairs
The Vice President for Internal Affairs serves as the manager who communicates
the affairs within the university including seeking the approval and support of the
Department of Accountancy, BU-College of Business, Economics and Management and
other colleges, and the Office of the President.
Vice President for External Affairs
The Vice President for External Affairs is the one responsible for establishing
partnerships and seeking sponsorships from other universities, local government units,
non-government organizations, banks, and other significant bodies.
Secretary
The Secretary is in-charge of the communications and necessary documents and
paperworks needed by the organization in carrying out its project. This includes
sponsorship letters, minutes of the meeting, memorandum, resolutions, contracts,
agreements etc.
Finance Officer
The Finance Officer carries the responsibility of managing the financial resources
of the organization. With this, it is part of his job to formulate budget plans and financial
reports.
Social Media and Content Manager
The Social Media and Content Manager is the key person in the execution of the
Phase 1 of the project titled Financial Literacy for the Youth (FLY) Connected: Social
Media Presence and Campaign. He serves as the head researcher and director for the
contents that will be posted on the page including the multimedia materials, interactive
installments, and economy and finance information.
 PROJECT TITLE
Financial Literacy for the Youth (FLY): unBroke
Financial Literacy for the Youth (FLY): unBroke was chosen to be the project
title to motivate the youth towards improving their financial knowledge and behavior.
With this, it aims to communicate its main objective which is to start effectively
managing your money. At the same time, the project title uses popular terms that the
youth can relate to in order to have a good foundation for advocacy promotion.

PROJECT DESCRIPTION
FLY unbroke is an advocacy project developed by students of Bicol University
College of Business, Economics and Management under the program of Bachelor of
Science in Accountancy. The advocacy generally revolves around promoting financial
literacy, particularly within these following areas: Financial Mind-Setting, Budgeting,
Spending, and Saving; that caters the youth of the Philippines especially students through
a multi-phased program.
With this, this advocacy project is to be initially implemented within Bicol
University Main Campus, East Campus and Daraga Campus and would be continued and
expanded in the future through partnerships with other universities, local government
units and non-government organizations.
The advocacy project is divided into three phases namely Phase 1: FLY
Connected: Social Media Presence and Campaign, Phase 2: FLY in Action: Training and
Seminar, and Phase 3: FLY unBroke.

PROJECT TIMEFRAME
PHASE TIMEFRAME
1 Continuous
2 3 months
3 12 months
Evaluation 1 months

PROJECT OBJECTIVES
The advocacy project generally aims to promote financial literacy for the youth to
enhance their skills in terms of managing personal finances. The long term goal of this
advocacy is to contribute to the future economic success of the country.

Specifically, each phase of the project aims to:

PHASE 1: FLY Connected: Social Media Presence and Campaign

 To promote financial literacy through the use of social media
 To create and utilize tri-media (video, audio and poster) materials to aid in the
social media campaign
 To interact with the social media users through polls, games, financial literacy-
related questions and other interactive installments
 To disseminate information about the current situation of the economy and other
finance related important news
 To share tips, inspirational quotes and strategies in money management from
credible sources
PHASE 2: FLY in Action: Training and Seminar
 To conduct a developmental series of trainings on financial literacy for the target
participants in partnership with Bicol University, local government units, non-
government organizations and other institutions
 To conduct a training-based action research on promoting financial education and
improving the financial literacy and financial capability of the target participants
 To prepare customized training modules for use in the conduct of training
interventions
 To prepare soft technologies for adoption and utilization by the training
beneficiaries
 To evaluate training program effectiveness and assess the level of achievement of
training outcomes

PHASE 3: FLY unBroke

 To create a program with a local bank to encourage target participants to save and
deposit money to banks
 To create an avenue for the application of the learnings gained from Phase 2
 To improve financial mindset and behavior of the participants

PROJECT EXPECTED OUTCOMES

PHASE 1: FLY Connected: Social Media Presence and Campaign

An active social media page about financial literacy which provides information,
interactive activities, and encouragement to pursue learning practical money
management especially among the areas of Financial mindsetting, Budgeting, Spending
and Saving

PHASE 2: FLY in Action: Training and Seminar

An enhanced level of financial literacy among the participants through the conduct of the
6 month training and seminar in partnership with credible institutions and agencies

PHASE 3: FLY unBroke

Increased percentage of savings among the participants and successful application of
learnings gained from Phase 2, thus, practicing a better financial mindset and behavior
 PROJECT METHODOLOGY

FINANCIAL LITERACY FOR THE YOUTH (FLY): UNBROKE

Phase 1 Phase 3
Phase 2
FLY Connected: Social FLY: unBroke
FLY in Action: Training
Media Presence and
and Seminar
Campaign

The advocacy project is divided into three phases in which it requires a wider
network of support as each phase advances while creating a more personal and feasible
financial literacy development program for the target participants.
PHASE 1: FLY Connected: Social Media Presence and Campaign
The Social Media and Content Manager is the overall key person of this phase
together with the supervision of the President. Basically, this phase takes advantage of
the numerous users of social media, especially Facebook, to disseminate the group's
message. With this, the major requirement of this phase is the accessibility of internet
connection and content creating gadget which can either be a laptop, tablet or a
smartphone.
I. THE CREATION OF CAMPAIGN LOGO, COVER PHOTO AND PAGE
Creating the campaign logo and cover photo is essential in creating a Social
Media page. This is one of the factors that establishes the identity of the page. Thus, a
simple yet relevant icon shall be incorporated in doing so. In addition, the group decided
to have the color green as the color of the campaign for not only it pertains to money, but
also it signifies growth, self-control and renewal.
II. DEVELOPMENT OF TRI-MEDIA MATERIALS
The tri-media material includes the following:
1) A 2-minute video advocacy campaign promoting the importance of financial literacy.
The video is an ambush interview with the students of Bicol University in which
it revolves around spending, saving, budgeting and financial mindset of the respondents.
This presents how effective students manage their money while viewers will be able to
evaluate themselves on how much they can relate to the respondents. This aims to be an
eye-opener to the things students allot their money to-drawing the line between their
wants from needs.
2) A poster
The organization prepared three poster to aid its advocacy. The first poster
highlights visual creativity as it presents the need of the Filipino youth to be financially
literate. The propaganda technique used in the poster is right vs. wrong. It aims to
encourage the youth to “feed the piggy bank”, which implies saving and proper money
management, instead of “breaking the piggy bank” which implies improper management
of money.
 The second and third posters are two of the additional materials created to aid the
promotion of the advocacy. One is titled “Reasons why the Young are Broke” presenting
the unhealthy financial habits and practices of the youth. The other one is titled “Be
Young and Not Broke” which discusses the role of the youth as key players in improving
our economy through helping them better manage their money.
3) An audio presentation in the form of a jingle
A one minute jingle was also prepared by the organization for the further
promotion of the advocacy. This is to help the retention of the campaign message to the
target audience. The jingle encourages people to become financially smart.

III. FORMULATION OF INTERACTIVE GAMES, POLLS AND FINANCE-

RELATED QUESTIONS
A social media page needs to create attraction, intrigue and innovation to have an
audience. With this, the group decided to include fun games, interactive polls and asking
finance-related questions for a minimal prize.
IV. RESEARCH RELIABLE SOURCES OF INFORMATION ABOUT THE
CURRENT ECONOMICAL STATUS OF THE COUNTRY AND IMPORTANT
EVENTS RELATING FINANCE
To establish credibility of the page, it is also important to site materials that are of
credible and impactful sources. The group also wants to present informative articles
about the economy and finance inside and even outside of the country.
V. PRODUCE TIPS AND STRATEGIES IN MONEY MANAGEMENT
This is one of the sections in which the group publishes original content,
specifically articles written by the members and other volunteers of the organization.
VI. POSTING OF MATERIALS
After the approval of the Social Media and Content Manager and the President of
the organization, the materials shall be posted to the page.
VII. DISSEMINATION OF CONTENT
Simply posting the materials in social media is not enough to reach a wide
audience. The features of the platform including sharing, reposting, tagging, inviting and
the likes shall be taken advantage by the Promotions Committee to be handled also by the
Social Media and Content Manager.
VIII. CONTINUOUS INTERACTION WITH USERS
The page shall be entertaining relevant questions from the users may be through
the comments section, Facebook messenger, or through reposts from followers. This
way, the advocacy becomes mutually involving among the followers and the
organization.
PHASE 2: FLY in Action: Training and Seminar
The Financial Literacy for the Youth Training and Seminar is a six month
financial literacy training and seminar which involves the support of credible speakers
who are experts in the field, formulation and utilization of training modules, creation
and provision of soft technologies for the participants, and initial evaluation of the
improvement in participants during the six-month training.
I. PARTNERSHIPS WITH BU DEPARTMENT OF ACCOUNTANCY AND BU
COLLEGE OF BUSINESS, ECONOMICS AND MANAGEMENT
The Vice President for Internal Affairs, together with the assistance of the
Secretary and the supervision of the President, shall be the primary point persons of this
section.
As part of the university and the experts in the field of finance, the group seeks
the BU Department of Accountancy and BU College of Business, Economics and
Management as a partner in this phase of the advocacy project. Their knowledge and
skills in the field are the biggest resource this phase should acquire. Upon approval of
the said units, together with the Money Monday Organization, comes the development of
training modules and soft technologies to be utilized in the implementation of the
training.
List of Training Modules:
SESSION 1 Module 1 – Financial Mind-Setting
SESSION 2 Module 2 – Budgeting – With Envelope System

SESSION 3 Module 3 – Spending – With Gastos Diary

SESSION 4 Module 4 – Saving – With Ipon Diary

Module Contents – Structure For Every Module

 Pre-Test
 Learning Outcomes
 Skills And Competency Inventory
 Introduction
 Situationer Or Sketch
 Discussion Of Situationer Or Sketch
 Conceptual Discussions
 Action Work Sheets
 Structured Learning Exercises
 Sound Financial Advice – To Be Given By Participant Every Discussion
 Personal Journaling
 Post-Test
List of Soft Technologies:
 Gastos Diary
 Ipon Diary
 Envelope System
 Personal Cash Flow Statement
 Personal Ipon Challenge – Sacrifices To Save And Alternative To Spending –
Merely To Encourage The Habit Of Saving

II. FUND RAISING AND SPONSORSHIPS FROM BICOL UNIVERSITY, LGUs,

NGOs, LOCAL BANKS, ETC.
The Vice President for External Affairs and Finance Officer, together with the
assistance of the Secretary and the supervision of the President, shall be the primary point
persons of this section.
To be able to implement this project, support from the university, local
government units, non-government organizations, local banks and other willing sponsors
is essential. With this, points persons shall coordinate with target sponsors through
official letters and meetings.

III. PLANNING
The President of the organization shall supervise the overall planning of the
project starting from the development of modules and soft technologies to budget
planning from the sponsorships, assignment of speakers, selection of participants,
conduct of pilot testing and date and venue of the training. The remaining members of the
organization shall be responsible for the accomplishment of duties inherent to their
position. The organization shall inform involved partners and sponsors about the conduct
of regular meetings until the project becomes concrete and specific.
IV. PILOT TESTING OF MATERIALS
Based from the agreement of the organization and partners, the conduct of pilot
testing shall be realized in order to ensure the effectivity of the material. With this, the
organization, with the support of the different colleges of the university, shall select at
least 15 students as participants of the pilot testing.
V. FINAL REVISIONS AND IMPROVEMENT OF MATERIALS
The organization and its partners shall evaluate and analyze each part of the
material and how it corresponds to the needs and level of financial literacy of the
participants during the pilot-testing. Any necessary improvements and revisions shall be
done.
VI. FINAL PREPARATION FOR THE TRAINING AND SEMINAR PROPER
The organizers shall ensure the certainty of the availability of the needed
resources for the implementation of the project including final reminder for the speakers,
printed modules and soft technologies, food and venue, supplies for the participants and
others.
VII. IMPLEMENTATION
The implementation of the Financial Literacy for the Youth Training and Seminar
shall be according to this event flow:
A. Introduction
B. Pretest
C. Discussion
D. Workshop
E. Post test
VIII. EVALUATION
The evaluation of the results of the 6-month training and seminar shall be
conducted through the compilation of posttests and the conduct of interview among the
participants about their improvements weekly. A month after the conclusion of the
training, the organization shall again update the status of the participants to ensure the
sustainability of their learnings from the seminar.

PHASE 3: FLY unBroke

FLY unBroke is the third and final phase of the project. This is a program to be
developed in partnership with a local bank which aims to encourage the participants to
save and budget their money wisely. Also, this is in continuation of the thrusts of Phase
2- now focusing on the application of the learnings gained from the seminar in practical
setting. Basically, the participant which accumulated the biggest amount of savings based
on a certain criteria to be developed, wins and would get a special prize.
 I. PARTNERSHIP WITH A LOCAL BANK
The Vice President for External Affairs shall be the point person for this task,
together with the assistance of the Secretary. They are responsible for coordinating and
communicating with the bank manager until the approval of the project.
II. DEVELOPMENT OF THE CRITERIA AND MECHANICS OF THE
PROGRAM
The organization together with the partners shall conduct a meeting in connection
with the formulation of the program mechanics and deliverables.
III. INFORMATION DISSEMINATION
Upon agreement of the concerned units, the program shall be disseminated to the
participants of the Phase 2 of the project. They are automatically the participants of this
phase.
IV. FINALIZATION BEFORE IMPLEMENTATION
Necessary adjustments shall be made before the conduct of the program.
V. IMPLEMENTATION
The program shall be executed for a year. Each month, the organization shall monitor
the progress of each participant- making sure to record the trends and improvements in
their overall financial behavior. After 12 months, the organization and its partners shall
determine the winner.
VI. EVALUATION
The organization, together with its partners, shall conduct a holistic evaluation from
Phase 1 to Phase 3 of this project. This evaluation is to be done through comparative
analysis of the number of people reached, scores in pretests and posttests during the
implementation of Phase 2, and the amount of savings accumulated throughout the 1 year
Phase 3 implementation.
 REFERENCES
Montecillo, P.G. (2016). Philippine Daily Inquirer. Financial literacy affects spending
saving habits. Retrieved from https://business.inquirer.net/201111/financial-
literacy-affects-spending-saving-habits/amp

Lucas, D.L. (May 28, 2018). Philippine Daily Inquirer. Many Filipinos seen still
‘financially illiterate’.Retrieved from https://business.inquirer.net/251498/many-
filipinos-seen-still-financially-illiterate

Abad, R. (August 12, 2019). Business Mirror. DepEd, BSP push financial literacy lessons
to students. Retrieved from https://businessmirror.com.ph/2019/08/12/deped-bsp-
push-financial-literacy-lessons-to-students/

Global Dominion Financing Incorporated. BSP and DepEd to Incorporate Financial

Literacy in K-12 Curriculum. Retrieved from https://gdfi.com.ph/2019/01/10/bsp-
deped-incorporate-financial-literacy-k12/

Sabalo, W. (March 7, 2019). Financial literacy for students. Retrieved from

https://www.sunstar.com.ph/article/1795834

Kobliner, B. (April 5, 2018). Money habits are set by age 7. Teach your kids the value of
a dollar now. Retrieved from
https://www.pbs.org/newshour/amp/economy/making-sense/money-habits-are-
set-by-age-7-teach-your-kids-the-value-of-a-dollar-now

Chua, A. R. (February 5, 2018). Business Mirror. Five proven saving habits .Retrieved
from https://businessmirror.com.ph/2018/02/05/five-proven-saving-habits/
Singe, D. (June 9, 2018). ScienceAlert. Here’s How Long It Really Takes To Break a
Habit, According to Science. Retrieved from
https://www.google.com/amp/s/www.sciencealert.com/how-long-it-takes-to-
break-a-habit-according-to-science/amp
 APPENDIX

MINUTES OF THE MEETING

November 14, 2019

The first formal meeting of Money Monday was held at Bicol University College of Arts
and Letters Room 301, 3rd floor, Legazpi City, Albay. The agenda of the meeting are the
following:
1. Designation of Company position
2. Finalization of the advocacy topic
3. Formulation of Company name
4. Identification and assignment of tasks to company members
5. Other matters

 The meeting formally started at 7:30 AM, all the company members were present
during the meeting.
 The meeting was initially presided by everyone through an interactive discussion,
and later on by the elected President, Allyza Joyce B. Moran.
 To start the meeting, the members conducted an informal election for the
designation of the fompany position. With majority votes, Allyza Joyce Moran
was the one elected as the president. Afterwards, the president took over to
appoint the members to their designated position. The results of the appointment
are as follows:
Vice President for Internal Affairs: Iris J. Lim
Vice President for External Affairs: Kate Allison G. Diaz
Secretary: Ken P. Mingoy
Finance Officer: Mary Fraces R. Garcia
Social Media and Content Manager: Aeron V. Sustal

 The subject for the advocacy was finalized. There were two proposals as to what
the topic of the advocacy campaign: Financial Literacy for Youth (FLY) and
Environmental Care. With the unanimous agreement between the members, it was
finalized that the topic is Financial Literacy for Youth (FLY).
 With the majority decision of the members, the official company name and the
advocacy campaign name was settled. The company name is Money Monday
while the advocacy name was #FLYunBroke
 As initial action for the preparation of the advocacy, the tasks were identified and
then assigned to the members according to their position. The tasks to be done
together with the person/s assigned are as follows:

Advocacy Paper: All members care of Allyza Joyce B. Moran

Poster: Mary Frances R. Garcia
Presentation: Kate Allison G. Diaz
Video: Aeron V. Sustal
Jingle: Aeron V. Sustal and Ken P. Mingoy
Minutes and Documentation: Iris J. Lim and Ken P. Mingoy

 Before the meeting ended, the president reminded the members that the tasks
should be fully accomplished at least three days before the client presentation.
 The meeting was adjourned at 8:50 AM.
 MINUTES OF THE MEETING
December 18, 2019

The second formal meeting of Money Monday was held at Redbuck's Coffee and Shakes
Legazpi, Balintawak Street, Old Albay, Legazpi City. The agenda of the meeting are the
following:
1. Finalization of the advocacy paper
2. Preparation for the client presentation
3. Other matters

 The meeting began at 2:30 PM, it was attended by all the members of the
company.

 The meeting started with the submission of the outputs from the task assigned on
the previous meeting. So far, the paper and the presentation is closely done, while
the other tasks have already been completed.

 The individual part of each member for the client presentation was assigned. It
was agreed that the part each member has contributed in the paper will also be
their part on the presentation. In addition, a dry run was conducted to further
enhance the delivery of the presentation.

 Before the meeting ended, the members were reminded by the president to be in
their formal attire and to be present on the venue presentation at least 30 minutes
before the time of the presentation.

 The meeting was adjourned at 6pm.

 MEMORANDUM #001

DATE: November 12, 2019

TO: All Members
FROM: Allyza Joyce Moran
SUBJECT: Advocacy

This is to inform you of the upcoming meeting on the creation and subsequent operations
of the company. A formal meeting will be held at Bicol University College of Arts and
Letters Room 301, 3rd floor, Legazpi City, Albay.

The agenda of the meeting are the designation of company positions, finalization of the
advocacy topic, formulation of company name, and identification and assignment of tasks
to company members.

Thank you for your cooperation.

 MEMORANDUM #002

DATE: December 16, 2019

TO: Company Members
FROM: Allyza Joyce Moran, President
SUBJECT: Final Preparation

This is to inform you of the upcoming meeting on the finalization of the requirements to
be presented on the clientele presentation. The meeting will be held at Redbuck’s Coffee
Shakes, Balintawak Street, Old Albay District at 2:30 on December 18, 2019.

The agenda of the meeting are the finalization of the advocacy paper, preparation for the
client presentation, and other matters that may be deemed necessary.

Thank you for your cooperation.