In a world where financial stability is both a goal and a challenge, initiatives like the Global Money Week serve as crucial platforms for promoting financial literacy. Amidst the digital landscape, the Cooperative Development Authority-Region 1 Extension Office took a significant step by participating in the 2024 Global Money Week Celebration in the form of an enlightening online training session on Financial Literacy, held on March 22, 2024, through a virtual platform.

Mr. Gomer C. Gomez, a seasoned Bank Officer II from the Bangko Sentral ng Pilipinas (BSP), graced the virtual event as the Resource Speaker. With expertise in Personal Financial Management, Mr. Gomez delved into this year’s theme, “Protect your Money, Secure your Future.” His comprehensive presentation was divided into four integral parts, each addressing key aspects of financial well-being: Financial Planning, Saving and Budgeting, Investing, and Debt Management.
The engagement of the virtual attendees was palpable as they actively participated in responding to various survey and poll questions throughout the session. One of the highlights was Mr. Gomez’s emphasis on the fundamental principle of financial planning, encapsulated in the equation: “Income minus Savings Equals Expenses.” This simple yet powerful formula resonated with participants, stressing the importance of prioritizing savings and budgeting wisely.

Moreover, Mr. Gomez generously shared resources, including a link on creating a Financial Plan, empowering attendees with practical tools to kick-start their journey towards financial security. Beyond theoretical knowledge, the session also provided actionable tips on prudent money management, empowering individuals to make informed financial decisions.

Towards the end of the session, Mr. Gomez highlighted BSP’s commitment to financial education by offering these resources for free, underlining the importance of accessible financial literacy initiatives to cover essential topics such as “Know Your Money,” shedding light on the design and security features of the Philippine banknotes and coins, “Core Functions of the BSP,” enlightening participants on the pivotal role of the BSP for economic stability, “Digital Financial Literacy” acknowledging the evolving landscape of finance in the digital age. As technological advancements reshape financial transactions, understanding digital financial tools and safeguarding against digital threats becomes vital.