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Published April 2, 2016

A scam is often defined as a dishonest way of making money by deceiving people. However, little did we know that sometimes, what we “don’t” know is worst than being scammed.

Here’s a true life story from one of our financial mentors in IMG and how financial education should be the key in avoiding the real scam in our midst. 

Life is a war.
Life is a war. 
My grandpa was born 1907. He died 2008. He lived quite a long life. He was a war veteran (I think so), but I never saw him enjoying the benefits of a veteran (WWII). All I was told was that he was an educator, a successful teacher (he had a title or something).
Fast forward. I had a chance of serving and assisting him (for a short while) during his visit in Cebu, his age, 90s. I accompanied him to every place he wants to go. One day, we went to the local bank, riding a taxi, with his wheelchair in the taxi’s baggage compartment. He wanted to withdraw funds from his pension entitlement, which he regularly receives. His pension (amount) was shocking, only Php 3,000+. How can it be? A hardworking Filipino who served his fellowmen for years by being an educator, who had to raise up his family, whose children became productive citizens of this country – lines up in the bank to collect what was never enough to meet the living cost of old age.
The real scam, the real poverty, is being a willing victim of a robbery that is happening not far away, but in-front of us – when we are being robbed of THE FREEDOM that our future generation deserves, by the financial mistakes of the misinformed past generation. Financial Education was and is still never taught in school. And we can’t wait for anyone to take care of our financial future, because the future is in our hands, not the government, nor the employer, nor your bank. We have to commit to financial literacy, and real change will follow.

This article is written by WSB Financial Trainer – Jess Faller Jr., an engineer by profession now doing IMG as a full-time career as a financial mentor for more than 10 years and has helped a lot of Filipinos in being good in handling their money. 

Connect with Jess Faller: click here.

Jess Faller IMG Trainer
Photo source: IMG official page. 

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