Finlit pushed as Filipinos seek alternative income sources

Published August 22, 2021, 8:00 AM

by James A. Loyola

With the local economy crippled by 17 months of varying degrees of lockdowns, many Filipinos have come out of their comfort zones to look for alternative income sources either to augment their reduced earnings or to replace lost earnings due to job loss or business closures.

According to a recent survey conducted by The Global Filipino Investors (TGFI), 64 percent of respondents have tried to launch a new business while keeping their day jobs, with 45 percent getting into online selling and 14 percent into freelancing.

TGFI sees this number further going up as 18 percent of respondents have lost their main sources of income during the course of the ongoing pandemic.

With the effects of the pandemic on employment, income generation, and consumer behavior, TGFI believes it is crucial to step-up personal financial education, in order to help Filipinos survive and be on stable ground during and even well after the worst of the current global health and economic crises.

TGFI Founder and President Floi Wycoco

“We all have the capacity to make money, not just anyone can manage it well. We have to make Financial Literacy part of our Filipino culture.” TGFI Founder and President Floi Wycoco said.

To this end, and with its main advocacy of promoting and improving financial literacy of Filipinos globally, TGFI continues to deliver online educational financial management and investment conferences, the next one being TGFI Financial Literacy Summit 2021, to be held on August 28 and 29,

2021.

TGFI is holding the Financial Literacy Summit: Generation Investors, a 2-day free-to-attend event with exciting talks from industry leaders and experts with an expected 10,000 attendees.

The event will cover 5 general topics: Entrepreneurship, Investment, Personal Finance, eCommerce and Real Estate. Each topic will provide content relevant to the aspiring entrepreneur, financial advocate, young professionals, students, and even OFWs and their families. 

Bangko Sentral ng Pilipinas Governor Benjamin Diokno will open the event by giving his keynote speech on the first day of the event.

Venture capitalist and TGFI Chairman JJ Atencio, Wycoco, Mark Bantigue (BDO), and Dr. Mary Gaw So

(The Real Estate Hub) are among the lineup of speakers on the first day and they will talk about topics on entrepreneurship, real estate, investment and eCommerce.

Other speakers include Dingdong Dantes (DingDongPH), David Almirol (Multisys Technologies), John Aguilar (The Final Pitch), Sean Si (SEO Hacker), Rienzie Biolena (Wealth Arki), Edmund Lee, CFA (Caylum Trading Institute), Rhonda Wong (Ohmyhome), Lyqa Maravilla (EduCreator and Entrepreneur), Rommel Ng (The Resto Coach), and Mariel Bitanga (Simply Finance Ph).

They will share their expertise and insights about personal finance, real estate, and insurance on the second day of the event.

“One of the things I realized is when you invest, you don’t invest in business, you invest in people. Beyond the numbers, one has to be comfortable with the people one wants to do business with. A commitment to integrity should always be present as well. Interpersonal fit is to be considered if one wants a business to thrive,” JJ Atencio, Chairman and CEO of TGFI and JHI said.

 
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