… Con’t.

Blue Chip was my first salvo into teaching finance for the youth. My Pastor (Dennis Sy) and I were discussing on what we can do with the youth and how to prepare them for the future and the idea of Blue Chip was born. Allow me to share with you the blog of one of the participants of Blue Chip, Louis Moran:

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“What did those speakers teach me?”

A Better way to Save

Record your Money

Make a cash flow chart: Use excel or, for manual computers, a paper with a simple data table. A small table you can keep on your planner to record daily expenditures and another to record expenditures on a monthly basis. They should record each individual expense – item, date of transaction, money lost; something like that. And it should be brutally REAL. A monthly record should have a totals vs. monthly income/allowance table, plus, savings, on the bottom. Those savings can be how much you don’t actually spend, if any. And it shouldn’t be discarded immediately; review it, keep it for the next month or two, and then make another one. And remember to keep receipts.

Plan your Money

Whatever my priority is, knowing what I need to spend daily, I can plan my expenditures–  a certain amount for leisure, another for more important things like baon or jeepney fares, and a portion to save. I can save just for the hell of it – i’ll have money to spend for friend’s birthdays or special gigs – or tighten my budget for a certain goal (something you have to get within a certain time, like a test tube set for your school project due next month)

Store your Money

– Some say piggy bank but it also seems like a good idea to start using a savings account, or a bank. It isn’t just storing, it’s investing, though, with little growth (like microbial).

And that’s one thing I learned from the seminar. I knew I needed to save money, except I didn’t exactly have an efficient way which is how my money always disappeared. Bottom line of this lesson is keep track of your money not just by memory. From personal experience, high-school life is the best time to start using organizers – those little notebooks, applications on your mobile phone with a calendar icon, or even your personal computer (Applications like iCal or Entourage). A cash-flow chart is just one of those.

What did they teach me about using money?

Bottom line is the best idea is always an investment.

Invest on Business

‘Make your money work for you, not the other way around’ – quote on quote. Do something you love to do and you’re good at, or something that everybody really wants or needs, like a real opportunist! But in any of the three, something legal of course. The best example for me were the Fausto brothers who were stock traders and business investors at 13 to… how old? 18? They showed us how capable we, the teenagers at the adult’s talk, could do all that even at our age; as well as do business or be opportunists.

On Yourself

Study hard/learn skills. (Another thing I learned, but from other, older people’s experience: do this before the high-school fun ends and they all become serious, stressful studying, board exams, summer enrichment – well, that’s not so bad – and minoring and majoring)

Invest on others

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High School student Louis Moran seems to have learned much from his 2 day experience with us. Things like this encourage me further with my advocacy.

“for attaining wisdom and discipline; for understanding words of insight; for acquiring a disciplined and prudent life, doing what is right and just and fair; for giving prudence to the simple, knowledge and discretion to the young – let the wise listen and add to their learning, and let the discerning get guidance-“ Proverbs 1:2-5, NIV

Who are the Fausto brothers?

The Fausto Brothers Martin, Enrique and Anton are sons of Marvin and Rose Fausto.  Marvin was the Head of Trust of Equitable PCI Bank and is now the Head of Investments of Banco De Oro.  Rose, prior to becoming a full time homemaker, was also an investment banker.

Martin, the oldest, is 19 years old.  He finished his elementary and high school with honors at Xavier School, Greenhills.  He is now an incoming junior taking up Management at the Ateneo de Manila University.  He is a member of the Company of Ateneo Dancers, one of the top hip hop school-based dance groups in our country today.  He sometimes plays the piano and is always the video maker and host in family parties.

Enrique, the second just turned 17 last month.  He also finished his elementary with honors at Xavier School.  He is an incoming high school senior in the same school.  He plays the guitar in a band called Luna Rye which he formed with friends from Xavier and ICA.  He also plays the piano and has composed a couple of songs.  He was a member of his school’s soccer varsity team in grade school and is now an officer of Dance X, Xavier’s varsity dance team.  He is also a member of the Xavier Ultimate Frisbee team.  Enrique is currently the president of the Parish Youth Central in Our Lady of Consolation Parish in their village.

Anton, the youngest, is 13 years old.  He graduated with honors from the Ateneo Grade School last March where he was also awarded a medal for his co-curricular activities in dancing, his current passion.  He was also a member of his Table Tennis varsity team.  Anton also plays the guitar and piano.  His ambition is to be the country’s youngest billionaire.

The Fausto Brothers have been exposed to financial literacy very early in life.  When they were still babies, their parents opened their individual savings accounts.  They have been saving from their allowance, cash gifts and occasional earnings from different endeavors.  They were also gifted a few shares of stocks of companies that they could easily understand when they were still very young.  Today, they buy their own stocks with their own money.  Since last year, their parents have transferred to them the responsibility of updating their individual Balance Sheets on a quarterly basis.

Catch the Fausto brothers at BLUE CHIP: Financial Literacy Program for the Youth! May 13 & 14.

For inquiries on BLUE CHIP, please get in touch with Sheryn Alvarez at 7448121 or 09175117796.

The future belongs to the next generation indeed.. but will they be prepared to face the real world?

Victory Greenhills in cooperation with the Registered Financial Planner Institute (Philippines) gives you BLUE CHIP: Financial Literacy Program for the Youth! A 2-Day Summer Program on May 13 & 14 at the Victory Center, Upper Level, Promenade, Greenhills – 9am to 5:30 pm. This is a program for 13 to 20 years old.

Featured speakers are:

Melvin Esteban, FLMI, ACS, CFC, RFP and Randell Tiongson, RFP – leading instructors of the Registered Financial Planner Institute and the Certified Financial Consultant Programs.

Chinkee Tan, lifestyle trainer and best-selling author of the books “Till Debt Do Us Part” and “For Richer and For Poorer”

David Bonifacio, successful young businessman and advocate of Corporate Social Responsibility

Jennifer Ignacio – Magalong – Financial Services Trainer

Martin, Enrique and Anton Fausto – 3 teen-aged brothers who are actually investing and creating their own investment portfolios!

.. plus more!

What will they learn?

–          Understanding Money and how cool it is to save and budget

–          Basics of Financial Planning

–          Time Value of Money

–          Understanding Investments and Investment Instruments

–          How to Invest for the future

–          How to be responsible

…. And many more!

2 days of real world learning in a fun and hip way!!! This will definitely prepare the youth for the future!!

Fee is only P 1,200.00 but if you register and pay before April 28, 2010, you can avail the P 800.00 Early Bird Rate. This is real value and a fantastic investment for the Youth!

For inquiries, please send email to jcignacio.magalong@gmail.com or text to 0939-1177856