As part of CSF Service’s commitment to cultivate good financial habits to farmers and MSME members of CSF Cooperatives, the Technical Assistance Division (TAD) conducted a half day webinar on Financial Literacy participated by more than two hundred (200) participants composed of officers and members of CSF cooperatives, CDA head office officials and personnel as well as CSF section personnel of the regional extension office. The half day event was held on December 12, 2024 via Zoom platform.
Assistant Secretary Luz H. Yringco in her special message said that the webinar will be helpful for participants to manage their finances which they can put to good use in their personal and professional life. She said that financial independence starts with financial education which involves a right mindset, good habits and perseverance.
TAD Chief Recto E. Transfiguracion provided the rationale of the activity putting emphasis on the need to be aware and informed of ways to save and invest to achieve financial independence. He said that through the webinar, participants will know different ways how to protect their money from scams that proliferate in the country.
The webinar was facilitated by a resource speaker from the Agricultural Training Institute (ATI) Mr. Efren C. Macario, Administrative Officer IV of the Regional Training Center of ATI Region 10 and a Certified Public Accountant. Mr. Macario said that financial literacy involves proper mindset, discipline, vision and planning for retirement through savings and investment. As one who was born and raised by parents who are both farmers, Mr. Macario shared that budgeting was instrumental for the family in achieving financial success which also helped him and his siblings finish school even when financial resources were very limited. His lecture includes topics on proper recording of income and expenses, cash flow, and importance of savings for emergency and retirement.
He likewise shared that one’s perspective of money should be anchored on having a rich mindset and a strong faith believing that God can provide everything we need if we have the commitment and desire to achieve financial success with hard work, perseverance and discipline.
During the open forum, participants were given the opportunity to ask the resource person their clarificatory queries. Mr. Macario sufficiently responded to queries from participants pertaining to the amount of savings that one can allocate from his salary or income from business, as well as questions on the security of online banking for savings deposits.
In his closing message, Service Director Joselito O. Hallazgo thanked the participants for their active participation and for showing their willingness to learn the concepts and principles of financial literacy that they can apply on their personal and professional financial management. He reaffirmed the Agency’s commitment to provide capacity building trainings to the CSF Cooperatives to be able to effectively manage their operations where financial management, savings and investments are concerned.
