Name: Axel E.

Hagosojos
Course/Section: BS-ENTREPRENEURSHIP 3C
Subject Teacher: Mr. Bryan Fruto
Managing a Service Enterprise

Narrative Report
2023 Financial Education Stakeholders Congress
(21-24 November)

Day 1

Theme:“Empowering Youth for Financial Success”

Base on what I’ve learned about the session empowering youth for financial success is a multifaceted
endeavor that encompasses various key principles. First and foremost, instilling a sense of financial
responsibility through basic concepts like budgeting and saving is essential. Teaching the importance of
living within means and setting financial goals establishes a solid foundation.

Equipping young individuals with the knowledge of investment basics is pivotal for long-term financial
growth. Introducing concepts such as compound interest and risk diversification can demystify the world
of investing, encouraging informed decisions.Encouraging a strong work ethic and emphasizing the value
of education are foundational aspects. Promoting continuous learning ensures adaptability in an ever-
changing economic landscape. Additionally, cultivating an entrepreneurial mindset by fostering creativity,
critical thinking, and problem-solving skills empowers youth to explore innovative avenues for financial
success.Furthermore, highlighting the significance of building a diverse skill set enhances employability
and opens up opportunities. Teaching resilience in the face of setbacks and the ability to learn from failures
is equally crucial.

In summary, a comprehensive approach that combines financial literacy, investment knowledge, work
ethic, continuous learning, entrepreneurial skills, and adaptability is key to empowering the youth for
sustained financial success.

Reflection:

My reflection about the session is empowering youth for financial success underscores the importance of
providing a holistic education that extends beyond traditional subjects. It involves not only teaching
practical skills like budgeting and investing but also instilling values such as responsibility, resilience, and a
proactive mindset.They highlight also that establishing a business doesn’t need high capital as long as the
money or the revenue constantly grow.

The journey begins with laying a strong foundation in financial literacy, ensuring that young individuals
understand the basic principles that govern personal finance. This includes cultivating habits like budgeting
and saving, which form the basis for sound financial decision-making.Investing in education and
continuous learning emerges as a cornerstone. Encouraging a thirst for knowledge and adaptability equips
youth to navigate the complexities of the modern economy. Moreover, emphasizing the entrepreneurial
spirit fosters innovation and an ability to identify opportunities.

Building a robust work ethic is fundamental, emphasizing the connection between effort and reward. The
encouragement of diverse skill development reinforces the idea that success often stems from a well-
rounded set of abilities.Ultimately, it highlights the need for a comprehensive approach that intertwines
financial education, life skills, and a mindset geared toward growth and adaptability. Empowering youth
for financial success is not just about numbers; it’s about nurturing individuals who are resilient, informed,
and capable of thriving in a dynamic world.

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 Day 2

Theme:“Unlocking Wealth through Investments and Business ”

In this session they tackled about investments. For me investment is a good thing idea for young
generation or entrepreneurs like me because there are a lot of benefits you’ll get aside from lower interest.
Investment can be used for future purposes like for emergency situation. Unlocking wealth through
investments and business involves multifaceted lessons. Firstly, diversification is paramount by spreading
investments across various asset classes such as stocks, bonds, and real estate, you mitigate risk and
enhance the potential for returns. This approach acts as a safeguard, ensuring that the impact of poor
performance in one area is offset by gains in others.Furthermore, staying well-informed is a linchpin for
success. Continuous learning about market trends, economic indicators, and industry developments
empowers you to make informed decisions. This knowledge equips you to adapt your strategy in response
to changing circumstances, ultimately safeguarding your financial interests.Patience is a virtue in wealth
creation. Investments and businesses often take time to mature and yield substantial returns. Resisting
the urge to make impulsive decisions during market fluctuations is crucial. Instead, adopt a long-term
perspective, allowing your investments and business ventures the necessary time to grow.

They said that strategic mindset is indispensable. Setting clear financial goals, developing a well-thought-
out investment plan, and periodically reassessing and adjusting your strategy contribute to sustained
success. By combining diversification, knowledge, patience, and strategy, you unlock the potential for
lasting wealth through investments and business.

Reflection:

Unlocking wealth through investments and business prompts a consideration of key principles and
experiences. Diversification emerges as a fundamental lesson, acknowledging the need to spread
investments across various assets. This mitigates risks and enhances the potential for stable, long-term
returns.The significance of staying informed is evident in this reflection. Keeping abreast of market trends,
economic indicators, and industry developments becomes a proactive strategy. It empowers decision-
making, allowing for adaptability to changing financial landscapes.Patience stands out as a recurring
theme. Recognizing that both investments and businesses require time to mature and yield substantial
returns is crucial. Resisting the temptation of impulsive decisions during market fluctuations becomes a
testament to the value of a patient, long-term approach.Strategic thinking surfaces as an indispensable
aspect. Setting clear financial goals, developing well-thought-out investment plans, and periodically
reassessing strategies contribute to sustained success. The reflection emphasizes the importance of
aligning actions with overarching objectives.

To sum up,the journey of unlocking wealth through investments and business involves a blend of
diversification, knowledge, patience, and strategic decision-making. Regular reflection on experiences
within this framework fosters continuous learning and refinement of approaches for enduring financial
success.
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 Day 3

Theme:“ How to Plan,Protect and Pass on your Wealth ”

The key knowledge I learned includes the comprehensive wealth management it discuss the importance
of planning, protecting, and passing on wealth as a holistic approach to managing financial resources
effectively. Also the Financial Planning for Entrepreneurs which specify the relevance of strategies for
young entrepreneurs, emphasizing the alignment of personal financial goals with business objectives.

They tackled also the elements of financial planning, in the planning phase we have the goal-setting,
budgeting, and diversification of investments. In the protecting phase we have the utilizing insurance,
legal structures, and responsible debt management. Last is the passing on phase which incorporates
succession planning, estate planning, and effective communication.

There are Benefits of Wealth Management they’ve discuss we have the financial security,strategic
decision-making,risk mitigation,tax efficiency,generational wealth transfer,peace of
mind,adaptability,legacy building.Having an advisory role is important of seeking professional advice from
financial advisors, lawyers, and tax experts throughout the wealth management process.Also,dynamic
nature of wealth management it the needs for regular reviews and adaptability to changing circumstances
in maintaining an effective financial plan.The responsibility of entrepreneurs to communicate their wealth
transfer intentions clearly and involve relevant parties, such as family members and heirs, to prevent
misunderstandings. Lastly,We have also the legacy creation it is significance of wealth management not
only for personal financial success but also for creating a lasting legacy that extends beyond individual
achievements.This knowledge provides a foundational understanding of the principles and considerations
involved in planning, protecting, and passing on wealth, especially tailored to the context of young
entrepreneurs.

To sum up, planning, protecting, and passing on wealth are crucial for ensuring financial security,
minimizing family conflicts, and leaving a positive legacy. Financial planning provides stability, goal
achievement, and risk management. Estate planning ensures proper asset distribution and minimizes legal
complications. Insurance offers financial protection and peace of mind. Tax planning maximizes wealth
preservation. Legal assistance provides clarity and avoids probate issues. Family communication minimizes
misunderstandings, and charitable giving allows for social impact. Maintaining an emergency fund ensures
financial stability, and ongoing financial education empowers both the current and future generations.
Regular reviews of financial plans adapt to changing circumstances, providing confidence and peace of
mind. Ultimately, these steps collectively contribute to a comprehensive strategy for managing wealth and
securing a prosperous future.
Reflection:

My reflection on the knowledge shared about planning, protecting, and passing on wealth, it’s clear that
these aspects form a crucial foundation for a secure and sustainable financial future. The comprehensive
approach of setting clear goals, budgeting effectively, and diversifying investments during the planning
phase resonates as a strategic roadmap for financial success.The emphasis on protecting wealth through
insurance, legal structures, and responsible debt management underscores the importance of resilience
against unforeseen challenges. It highlights the proactive measures individuals, especially young
entrepreneurs, can take to safeguard their hard-earned assets.

They also point out the benefits , including financial security, strategic decision-making, and legacy
building, serve as compelling motivations for individuals to actively engage in the process of wealth
management. It’s not just about accumulating wealth but also about creating a meaningful and lasting
impact for oneself and future generations.The dynamic nature of wealth management, with its need for
regular reviews and adaptability, underscores the importance of staying informed and proactive. This
resonates with the ever-changing economic landscape and individual life circumstances, requiring
constant evaluation and adjustment of financial plans.

In conclusion, the knowledge gained underscores the interconnectedness of these three phases—
planning, protecting, and passing on wealth—in shaping a well-rounded and resilient financial strategy. It
serves as a reminder that financial success goes beyond personal wealth accumulation; it involves careful
planning, thoughtful protection, and a legacy that extends far beyond individual achievements.
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 Day 4( A:M )

Theme: “ Gabay sa Pagpapanatili ng Integridad ng ating Salaping Papel,Polymer at Barya”

According to the webinar session preserving the integrity of paper, polymer, and coin currency involves
adopting several prudent practices and it should be always handle currency with clean hands to prevent
the transfer of dirt, oils, or moisture. Minimize folding or creasing of paper and polymer bills, as such
actions can lead to wear and tear over time. Store currency in a cool, dry place away from direct sunlight
to prevent degradation caused by extreme temperatures and humidity. For coins, consider using
protective sleeves to mitigate scratches and wear. Exercise caution with staples, paperclips, or any sharp
objects that could potentially damage the currency, and opt for secure and gentle storage methods.
Regularly inspect your currency for signs of damage, and if any issues arise, consult with your local bank
for guidance. Avoid writing or marking on currency, as maintaining bills in their original condition is
essential. Furthermore, educate yourself on the security features of currency to help identify genuine bills
and coins, minimizing the risk of counterfeit currency circulating. By following these guidelines, you
contribute to the longevity and quality of our monetary system.

Reflection:

Maintaining the integrity of currency is a responsibility that requires mindfulness and care. It’s intriguing
to recognize how seemingly small actions, like handling money with clean hands or avoiding unnecessary
folds, play a crucial role in preserving the quality of our currency. This reflects a broader concept of respect
for the tangible representation of economic value.The emphasis on education is noteworthy—being aware
of security features adds a layer of personal responsibility in preventing counterfeit circulation. It’s a
reminder that financial literacy goes beyond spending and saving; it includes understanding the very tools
we use daily. The notion of regularly inspecting currency aligns with the idea of staying vigilant in financial
matters. Just as we track our expenses or monitor our accounts, routinely checking the physical state of
our money ensures that we’re not unknowingly accepting damaged currency.

In essence, these practices convey a sense of stewardship toward a symbol of economic transactions. It’s
a reminder that every individual contributes to the reliability and longevity of our monetary system
through simple yet impactful actions.Preserving the integrity of currency is essential for economic stability
and public trust. It involves thwarting counterfeiting through awareness of security features, ensuring
smooth transactions by maintaining currency quality, respecting cultural and historical symbolism
embedded in currency, fostering economic confidence through well-maintained bills, and contributing to
sustainable currency circulation by handling money with care. In essence, the importance of currency
integrity extends beyond aesthetics, impacting security, efficiency, cultural identity, economic confidence,
and the sustainability of the monetary system.
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 Day 4 (P:M )

Theme:“ A Guide to Cybersecurity and Consumer Protection ”

Base on what I learned in the session is in this digital era, safeguarding oneself necessitates acquiring
crucial knowledge in cybersecurity and consumer protection. Recognizing the importance of robust,
unique passwords, embracing two-factor authentication, and staying vigilant against phishing attempts
are foundational lessons. Additionally, understanding the significance of regular software updates is vital
for patching vulnerabilities.Managing one’s digital footprint and being aware of shared information online
is equally paramount. Familiarity with consumer rights, particularly in data privacy regulations like GDPR,
empowers individuals to advocate for transparency. Safe online practices, incident response readiness,
and ongoing security education contribute to a comprehensive defense.In essence, this knowledge
extends to risk management, emphasizing the need to assess and mitigate cyber risks in personal and
organizational contexts. Acknowledging the interconnected nature of cybersecurity and consumer
protection underscores the importance of a collaborative approach, wherein individual actions and
systemic measures collectively contribute to a secure digital environment.

Consumers can shield themselves from cybercrime by staying vigilant and adopting proactive measures.
Employ robust, unique passwords for each account and utilize two-factor authentication where available.
Exercise caution with unsolicited communications, verifying legitimacy before sharing sensitive
information. Keep software updated regularly to address vulnerabilities, control privacy settings on social
media, and limit the online sharing of personal information. Stay informed about data protection
regulations and consumer rights, advocating for transparency from service providers. Practice safe online
habits, avoid downloading files from unknown sources, and use secure Wi-Fi connections. Educate yourself
about common cyber threats, employ reputable security software, and regularly monitor accounts for
unusual activity. Back up essential data, secure devices with strong passwords, and report suspicious
activities promptly. Having an incident response plan and recognizing the collective responsibility for
online security contribute to a safer digital environment.

Reflection:

My reflection in the realm of cybersecurity and consumer protection is an essential practice for continual
improvement and adaptability.The evaluation serves as a foundation for updating strategies, ensuring that
security measures remain robust and aligned with evolving threats. Creating a guide to cybersecurity and
consumer protection underscores the growing need for informed digital practices in our interconnected
world. In reflecting on this endeavor, it becomes evident that empowering individuals with knowledge is
paramount in mitigating cyber threats. The guide serves as a bridge between the complexities of
cybersecurity and the everyday choices consumers make online. This guide a vital tool in building and
maintaining trust with the customers. In an era where digital interactions dominate business landscapes,
ensuring the security of customer data is crucial. By implementing robust cybersecurity measures,
entrepreneurs can establish a reputation for reliability and integrity, essential elements for the success
and growth of any business.
 For entrepreneurs it is a guide that foster culture to become responsible. Young business leaders,
equipped with knowledge about consumer protection, can create ethical and transparent business
practices. This not only enhances customer loyalty but also positions the entrepreneur as a responsible
contributor to the broader digital community. Ultimately, the guide plays a dual role: fortifying consumers
against cyber threats and guiding young entrepreneurs towards ethical, secure, and successful ventures in
the digital marketplace.
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