Republic of the Philippines

UNIVERSITY OF EASTERN PHILIPPINES

Web: uep.edu.ph; Email: uepnsofficial@gmail.com
University Town, Catarman, Northern Samar

COLLEGE OF ENGINEERING

FORUM REPORT

Name: Ortonero, Cris C.

Course: BSCE-3
Forum Title: Regional Forum on Economic and Financial Literacy
Sponsor Agency: The National Economic and Development Authority (NEDA) VIII
Date of Forum: November 19, 2021

Rationale of the Forum:

During the virtual forum on November 19 th 2021, NEDA VIII undertook efforts to improve its accessibility to
persons with disabilities (PWD), they also discussed about their plans, future projects, about the pandemic, about
the projects or the improvements after the Typhoon Yolanda. The 44-year old NEDA Regional Office VIII building
recently completed much-needed repair and maintenance works in addition to the installation of new safety
features.
The forum was conducted in accordance with Republic Act No. 10922, or “An Act Declaring the Second Week
of November of Every Year as Economic and Financial Literacy Week” which aims to develop national consciousness
on economic and financial literacy, as well as other socioeconomic development matters.

Topics Tackled:
 Financial Planning
 Saving and Budgeting
 Debt Management
 Basics of Investing
 Fraud and Scams
 Consumer Protection

Learning’s from the Topics Tackled:

To be honest I haven’t finished the forum because of the slow internet connection in our Town, in Catubig.
The NEDA is the country's premier social and economic development planning and policy coordinating body
primarily responsible for formulating continuing, coordinated and fully integrated social and economic policies, plans
and programs. I learned a lot from watching the forum in Facebook. Like being aware in today’s happening because
there are lots of scammers online, especially today, there are lots of people who are using social media and lending
money online. They also tackled about the four associations where we could persuade the money to be explicit: the
financial establishments, hold assets and advance affiliation between the firearm and the transactor. In the side of
the Consumer protection, they must be informed and understand the financial products available to them. You are
the consumer, you have the right to know about what the product that you are going to buy, or you must know the
important information about the product.

Recommendations:
I don’t have any recommendations about the flow of the discussion because the problem is on my part, as
we all know that the internet connection in Northern Samar is very slow and can’t so the flow of the discussion that
showed in my screen sometimes freezes. The only problem was that the zoom link or room is already full. So most of
us can’t ask questions to the speaker if we have.
Other Relevant Information:
One of the needed knowledge or literacy in today is the information and financial literacy, especially in this
discussion of topic. Financial literacy is increasingly important as people manage their own retirement accounts,
trade personal assets online, and carry student, medical, credit card, and mortgage debt.
Financial literacy is the confluence of financial, credit, and debt management knowledge that is necessary to
make financially responsible decisions—choices that are integral to our everyday lives. Financial literacy includes
understanding how a checking account works, what using a credit card really means, and how to avoid debt. In sum,
financial literacy has a material impact on families as they try to balance their budget, buy a home, fund their
children’s education, and ensure an income for retirement.
A lack of financial literacy affects people in developed or advanced economies, as well as those who live in
economically emerging or developing economies. Consumers in advanced economies also fail to demonstrate a
strong grasp of financial principles that can help them understand and negotiate the financial landscape, manage
financial risks effectively, and avoid financial pitfalls. Nations globally, from Brazil to Bulgaria to India, are faced with
populations that do not understand financial basics.
This information literacy will help people in understanding and analyzing information especially in media so
that they will not be scammed, and only the true information will be sent to them.

Photo Documentation:

-------------------------------- November
22, 2022
Signature Date