Sacred Heart College, Lucena City
Sacred Heart College, Lucena City
Sacred Heart College, Lucena City

JFINEX holds 2020 Financial Literacy Seminar

The Junior Financial and Investment Executives (JFINEX) with their moderator, Dean Arnel L. Cadelina, held their financial literacy seminar entitled “Smart Personal Finance: The Right Track Towards Your Financial Goals” Station 2 and 3, last February 1, 2020 at the Computer Lab, A9 HED Building, Sacred Heart College Lucena City. Second and third year financial management students participated on the seminar where they learned financial tools that they can use in the long-run. JFINEX invited Ms. Faye P. Rocero, CPA, with her topic “Wise Financial Planning”, and Mr. Jayger Sotomayor Azores with his topic “Real Estate”.

Ms. Faye Margaret P. Rocero CPA, an alumna from the College of Accountancy, Batch 2013 of Sacred Heart College, licensed financial advisor and the owner/creator of “My Wise Finances” gave a talk about “Wise Financial Planning”. She tackled personal finance basics on how to start earning at a very young age, and even know how to spend and allocate budget properly. She started the talk from a quote from Bo Sanchez: “Financial ignorance is expensive”. Despite being a graduate in accountancy, she mentioned that one of the things that she lacks knowledge about was handling personal finance. According to Ms. Rocero, one of the major problems of today’s generation is that they lack the knowledge of financial literacy. The key is that people today should be taught financial planning which is a comprehensive statement of an individual’s long-term objectives for security and well-being and a detailed savings and investing strategy for achieving those objectives. Financial planning it begins with a thorough evaluation of the individual’s current financial state and future expectations. It is a process to achieve one’s financial goals step by step which has two elements: budgeting and saving. People at a young age should learn to inject money for savings, and this savings can be used for investments like stocks, bonds and any money market instruments which can later yield interest after a long period of time. The higher the risk, the greater the return of interests yielded by an investment and investments should have an interest of maturity higher than the inflation rate. Choosing the right financial instrument is a major key role for planning investments and even seeking help and advice from the local financial adviser that can assure profitability of one’s investment. In a time where people are impulsively buying things which accumulate huge expenses, financial literacy should be an essential tool or skill to assess oneself for the future and for one’s benefit.

The second speaker, Mr. Jayger Sotomayor Azores, is the assistant branch manager of QCRB Quezon Avenue Branch, the incumbent treasurer of Lucena Banker’s Association (LBA), a member of the board of director at QCRB Quezon Avenue Branch, and a youth advisor at Youth League Association of Gulang-gulang (YLAGG).He tackled the topic “Real Estate” and gave information to the young participants on the fundamentals of real estate investing. According to him, it is a good option to invest in real estate because first, it has relatively low risks. Real estate investments are not affected by fluctuating markets and its value will only go up overtime that could provide one’s financial security. Second, it has endless returns because the Philippines has stable real estate market, the longer one has real estate here, the more profit one will get from it. Third is fixed assets, one’s money is going towards holdings with real intrinsic value that unlike stocks, it doesn’t have a chance of randomly dropping down to zero overnight. He gave some tips and advice for the participants about acquiring and selling their land properties. Lastly, according to him, the factors one has to consider before buying a land property is its marketability. The location and population density should be checked before acquiring a real estate property to make sure that one can dispose it anytime at a good price tag. One should think of it as long-term investment, when one buys a property, he/she has to bear in mind and be prepared to hold that property for many years, on the property one can live, work, and play. One must consider and prioritize convenience when one is purchasing a real estate property; consider foreclosures and focus on one area to find a good deal before buying a foreclosed property. If one wants to maximize capital appreciation he/she also has to consider buying pre-selling stage from newly opened land developer company’s; financing the property is a must. Look for projects with easy-to-own programs, and lastly, due diligence. One should never buy a property based on speculations only and use actual lease contracts of neighboring properties to determine rental rates of a specific area. He finished his talk by saying a quote from Confucius saying “When it is obvious that the goals cannot be reached, don’t adjustt the goals, adjust the action steps.”

The speakers were awarded a certificates and token of appreciation for their undeniable contribution and effort in promoting financial literacy among the student participants.