Financial literacy is a critical yet often overlooked skill that enables individuals to make informed decisions about managing their money.
It encompasses understanding basic financial concepts such as budgeting, saving, investing, and debt management.
A 2021 survey by the Bangko Sentral ng Pilipinas (BSP) revealed a startling statistic: only two percent of Filipino respondents could correctly answer all six basic financial literacy questions. This low level of financial knowledge hinders individuals’ ability to manage their finances effectively, plan for the future, and make sound economic decisions.
To help address this knowledge gap, Tala, a pioneering fintech company, has launched TALAkayan workshops to empower Filipinos, particularly the underbanked and underserved sectors, with essential financial management skills.
Empowering Through Education
Tala Philippines, in collaboration with financial literacy advocate Salve Duplito, has designed TALAkayan workshops to be highly interactive and tailored to the specific needs of participants. The workshops utilize relatable examples and scenarios to make financial concepts more accessible and understandable. Recent sessions have been conducted for conditional cash transfer beneficiaries in Pasig City and women and mothers in Quezon City, ensuring that diverse groups benefit from these educational initiatives.
Reaching Entrepreneurs and MSMEs
On July 13, the 13th edition of TALAkayan was held at the Trinoma Activity Center in Quezon City, targeting aspiring entrepreneurs and owners of micro, small, and medium enterprises (MSMEs). During the session, Duplito shared practical advice on budgeting, debt management, and basic investment strategies, aiming to equip participants with the knowledge needed to start and grow their businesses.
Moritz Gastl, General Manager of Tala Philippines, emphasized the importance of financial education in achieving personal and professional goals. “Whether it’s to start your own business, support the needs of your family, or achieve financial stability, awareness of basic finance and budgeting concepts is key to managing your finances better,” he said.
Encouraging Homegrown Enterprises
Complementing the workshop, an exhibit showcased products from 17 local brands and enterprises, part of the Iskaparate Network and Teleradyo Serbisyo’s show, Panalong Diskarte. This exhibit aimed to inspire entrepreneurial Filipinos and encourage support for homegrown MSMEs, fostering a community of financially savvy and business-minded individuals.Tala’s Commitment to Financial InclusionBy advancing financial literacy and education, Tala is committed to bridging the financial gap for the Global Majority and unleashing their economic potential. With over 8 million customers and more than 40 million loans disbursed, totaling over 4 billion USD across three continents, Tala continues to support the unbanked and underserved populations, helping them manage daily needs, start small businesses, and pursue financial goals with confidence.About TalaTala is a global technology company dedicated to building the world’s most accessible financial services. Their innovative online credit solutions provide flexible and convenient financial support to unbanked and underserved individuals. Learn more about Tala and start your journey toward financial freedom at Tala.
