MBA 622 - FINANCIAL MANAGEMENT Assignment 1: Reaction Paper

Patricia Bianca M. Arceo Date Submitted: September 10, 2022

Financial Literacy Lecture

The Financial Literacy Lecture was conducted to and for the Overseas Filipino Workers
in Qatar. This was completed by the Land Bank of the Philippines in partnership with the
Philippine Embassy in Qatar last 2012. The goal of the lecture was to discuss and educate our
Overseas Filipino Workers in Qatar on how to invest their savings and grow their wealth
through good financial investment channels like treasury bills, retail treasury bonds, and time
deposit in dollars and special deposit. It was emphasized during the follow up interview with Sir
Manny Inserto that being members of the SSS, Pag-Ibig, and Philhealth and continuously
giving your contributions can help workers prepare for their retirement and reap the benefits of
these memberships. It was further advised in the interview that workers should focus on saving
investments that can grow money at a more than 1% rate per annum. Prioritizing and investing
your savings in trusted institutions like the Land Bank of the Philippines should help our
overseas workers realize that their money can work for them.

I enjoyed watching the interview and learning that we have these kinds of programs for
our overseas workers in Qatar. I believe these types of lectures are essential in ensuring that
our overseas workers’ and their families futures are secured even after going back to the
Philippines to enjoy their time with their loved ones and retire for good. This is also a good way
for them to get educated on different ways on how they can further grow their wealth and later
on appreciate and relish their hard work abroad.

I, myself also believe that investing your money in time deposits or bonds is a great
way to have your “money work for you” without putting in so much effort. Sir Manny Inserto
made good points when he mentioned that instead of saving your earnings in your normal
savings account, we should prioritize looking for opportunities that can grow our money at least
1% per annum. Currently, we have a lot of opportunities like this in the market; with the rise of
neo-banking that can grow your savings as much as 4% even 6% for time deposits. I hope
there would be more lectures like this in the future where younger generations can enhance
their financial literacy. Its always good to start teaching these to students in schools as well as
young adult before they start a family because it’s a great way to help them prepare for their
futures.