A FINANCIAL adviser said there is a need for those who are taking risks with investment schemes to be more financial literate for them to properly manage their money.
“Those people indulged in that kind of situation are not financially educated, that is why we are worried about their future,” said Beverley Rubas, International Marketing Group (IMG) - Associate Financial of the Philippines senior marketing director.
She admits she is not knowledgeable with the current investment scheme trend. However, she expressed worry to the people who are risking their money in these trade.
“I'm worried about the people being involved in that kind of situation because once you have that payout something, you must know how to manage it well because that money is short term,” Rubas said on Monday during the Kapehan sa Davao press conference at SM City Davao.
She added, “Every time you have that payout, you have to diversify your investment with different investment vehicles so that if something happen to that company at least you are protected already.”
IMG is a private institution focusing on financially educating Filipinos since 2002.
Rubas said the group aims to educate one million Filipino families by 2020 through series of free financial lectures and other workshops.
Meanwhile, in a recent IMG survey, 53 percent of Filipinos are financially struggling because they do not know how and where to invest properly their money.
“Nowadays, one source of income is not enough due to so many expenses. We need to have a dual career to increase your cash flow,” she said.
Despite this, Rubas said there is still hope for Filipinos to become more financially educated as it is also one of President Rodrigo Duterte's goal for the country.
“Since the Philippines is in the class B investment level, our country is becoming a target for investments, our president is pushing for that financial literacy goal,” she said.
She also encouraged the public to invest their money in banks and mutual funds to augment and expand the country's economy.