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Published July 11, 2016

“You can’t hire someone else to do your push-ups for you” – Jim Rohn

And so should personal finance. 
While personal finance is common sense, a lot of Filipinos are still struggling financially. Thus, it is something that we should also learn. But unfortunately, financial education is not taught in schools. It is not also evident in the financial industry like the banks, insurance and investment companies. 

Let’s take a look at the current situation why Financial Education is a major need especially to Filipinos: 

Financial Education is a need
Financial Education is a need

1. Schools

If financial education should also be taught in school, then who are qualified to teach this course? No offense, but even teachers (most of them) are living in debt. It is just like taking an MBA (Masters of Business Administration) and having a professor who doesn’t even own a business. Talk about, “If you can’t apply it, teach it.”

For accounting and economic subjects, the educational system is teaching students to be prepared how to count or manage other people’s finances as in the case of preparing students to work as accountants in the corporate world. Though these subjects can be applied in a personal level, not everyone applies it to themselves.

“Kapoy ihap ug kwartang d ako.” (It is tiring to count money that isn’t mine.) – a bank teller friend of mine often says. 

Thus, the most qualified industry to teach about personal finance should be the financial industry. The financial industry composes of the following: the banks, insurance companies and investment companies. 
2. Banks

The next option would then be to go to the banks. Though the banks give you products that offer savings and investments, most of the time, they prioritize offering loans and credit cards. So it’s quite ironic that instead of helping people to acquire savings, they encourage people to go into debt. 

Though having credit cards and taking out loans can be helpful, most of the time, debt is the number one financial problem of Filipino people. 

Related Content: Understanding the basics of debt

3. Insurance Companies
The next viable option would then to go to the insurance company. They do have great and amazing financial products, the challenge however is that most agents are focused on selling because of their quota. A lot of times, clients end up buying policies they don’t understand. That’s why a lot of Filipinos are allergic when they hear the word “insurance.” 

Another scenario is that when the agent can not hit the quota, the clients are often left clueless on what to do next when their agents are no longer around to service them. 

Though this may not be the case to all, a more effective approach should be implemented. 

Related Content: Understanding the basics of life insurance

4. Investment Companies 

The last sector in the financial industry are the investment companies. 

When people hear the word “investments” a lot are skeptical, afraid and completely “close-minded” because of rampant scams and they often generalize all investments as scams. 

Others think that investing is only for the wealthy. Though this may be the case before where their target market are the wealthy people and overlooking (under-serving) the middle class earners who needed these investments more, there has been an effort to deliver financial education especially on investments like the stock market and mutual funds but not in a massive level. 

Related Content: Understanding the basics of investments

Why International Marketing Group came into existence?

Thus, because of this major need: International Marketing Group (IMG) came into existence. 

IMG – where the teachers are financial trainers who are practicing what they preach. 
IMG – where its members don’t have any quota thus hard selling is not required.
IMG – where investing is no longer a rich man’s game, but everybody’s reality.
IMG – where financial education is taught in a massive scale!

IMG - financial education in a massive scale (source: International Marketing Group)
IMG – financial education in a massive scale (source: International Marketing Group)

When you want to be academically educated – you go to school. 
When you want to be physically fit – you go to a gym.
When you want to be spiritually blessed – you go to church.

But when you want to be financially healthy, you go to IMG’s financial center! 

Want to experience a life of FINANCE, BUSINESS and INVESTMENTS? Experience #LifeatIMG. Be a member now! (Click here)

Want to attend a financial seminar in an IMG financial center near you? Contact us on our social media accounts and we’ll reserve a seat for you. 

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