PH Embassy in Dili Conducts Financial Literacy Training for OFWs

DILI 11 December 2018 – As part of its gender and development (GAD) program for 2018, the Philippine Embassy in Dili conducted a financial literacy seminar for women at the JL Villa Conference Room on 01 December 2018.

Well-known financial and accounting service adviser and practitioner Joseph Francis conducted the seminar, which was attended by 50 members of the Filipino Community in Timor-Leste.

“With financial literacy skills, women can achieve economic empowerment. Economic empowerment for women means being confident about themselves to be able to earn an income and manage their own finances, build their financial security, and increase their influence over the household budget,” Ambassador to Timor-Leste Abdulmaid K. Muin said during his opening remarks.

Mr. Francis noted that more often than not, women delegate investing decision to their husbands, which should not be the case. “Women need to understand that investing is not a complicated matter,” Mr. Francis said.

He also imparted valuable tips on savings, budgeting, investing, and planning for retirement. He discussed the various investment tools that the participants could avail of to secure their retirement such as stocks, bonds, securities, mutual funds, and the importance of investing in real estate.

“The most important reminder that I would like to impart to you is: do not rent, take advantage of mortgage loans. Instead of making your landlord rich, aspire to have your own home,” he told the participants.

First Secretary and Consul Jason Jovencio A. Anasarias complemented Mr. Francis’ seminar by providing the participants an overview on the Personal Equity and Retirement Account, which is a retirement savings program that overseas Filipinos can avail of to secure their future. END

For more information, visit www.dilipe.dfa.gov.ph or https://www.facebook.com/Philippine-Embassy-in-Dili-Timor-Leste-397812407262952/.