Wazzup Pilipinas!
Vince Rapisura, founder of Social Enterprise Development Partnerships, Inc. (SEDPI), a social enterprise that provides financial literacy training programs to low-income OFWs in 15 countries worldwide, recently released his book on personal finance entitles (L)Earning Wealth: Successful Strategies in Money Management.
At his book launch held on July 30, 2016 at Fully Booked located in Bonifacio Global City (BGC) in Taguig city, Vince shared his origins and experiences in life from his birth, to his childhood, his opportunities to advocate love for country during his teenage years as among a representative from the Philippines, and that moment when he finally met his partner, up to the creation of his book. He has been teaching microfinance and social entrepreneurship at the Ateneo de Manila University for the past 13 years, so it's about time he also comes out with a book that would benefit more than his students.
He shared that Filipinos are known to be resilient but how do we, specifically the poor, exactly cope in times of disaster or emergency?
Eight out of ten of the respondents from a survey revealed that the poor coped through accessing loans. A lot are not aware that this coping mechanism is not good for one’s financial health. Loans should be used for productive purposes only. The research result is an illustration that the poor have low financial literacy levels.
He shared that Filipinos are known to be resilient but how do we, specifically the poor, exactly cope in times of disaster or emergency?
Eight out of ten of the respondents from a survey revealed that the poor coped through accessing loans. A lot are not aware that this coping mechanism is not good for one’s financial health. Loans should be used for productive purposes only. The research result is an illustration that the poor have low financial literacy levels.