Filipinas have the unique position of being powerful in our homes As far as I know, most women hold the purse strings. They make the important decisions when it comes to shopping, budgeting, education of the kids, where to go for vacation etc. There’s a lot on our shoulders, and with great power comes great responsibility.
The challenge is to arm women with the right knowledge so they can move from merely saving to investing. Because believe it or not, a lot of us are still steeped in the ‘paluwagan’ mentality, we entertain the notion that our hard-earned money is safer in the bank (or piggy bank). Investing is still a big word for some, even though it’s one of the time-tested methods to grow one’s assets.
It was a good thing that First Metro Asset Management, Inc. (FAMI) held a financial literacy workshop entitled “Smart Women Invest’ last week in Shang-ri La at the Fort, BGC. This was in celebration of March being the Women’s Month.
At the forefront was FAMI’s first-ever female president Karen Roa who has 25 years of experience in domestic and international banking.
Another speaker was Ms. Rose Fres Fausto – known in the online world as FQ Mom. She used to be an investment banker but now discusses mostly money management and parenting in her books, columns, online shows, and workshops.
One of the highlights of the workshop was the online FQ Test conducted by Fausto which determines the participants’ standing in terms of Financial Intelligence Quotient (FQ).
She said: “In order to have a high FQ, women must first understand their relationship with money. She also added that those who didn’t fare well in the test need not worry because their FQ scores are not cast in stone. They can be improved by tweaking some of their money habits and unleashing the female characteristics that are actually good for investing, allowing them to go beyond saving.”
The best part about a healthy FQ is that its concepts can be learned and, in turn, shared with the family. Fausto said, “Women are large influencers in their community so a woman with high FQ can be a driver in raising children with smarter money sense, build a career and investment life that is fruitful and lucrative, and even lead a household and home that is sufficient and stable. Again, with fortified FQ—women can prove that they’re on top of their game.”
At the workshop, we were oriented about FAMI’s latest product, the First Metro Consumer Fund which is the Philippines’ first index riding on the uptrend in spending in the consumer sector.
” The First Metro Consumer Fund is invested in industries that benefit from the Philippine family consumption and expenditure pattern. Think about staying in hotels, eating in restaurants and shopping in malls. These are industries supported by women and mothers in our country. This is a great way to start your investment journey,” Ms. Roa said.
We did get a free investment in the First Metro Consumer Fund as a token from FAMI, and we sure hope to make it grow because the boom in the Philippine economy is inevitable. Initial investment in First Metro’s consumer mutual fund begins at only P5.000.
In this photo, am shown getting my First Metro Consumer Fund certificate with fellow moms Michelle Aventajado and Lee Shen Gee Cala-Or.
Thank you FAMI family!