CEM, Landbank partner in Financial Literacy Training

The Central Bicol State University of Agriculture- College of Economics and Management (CBSUA -CEM) and Landbank Countryside Development Foundation, Inc (LCDFI) through the Extension Services Division conducted simultaneous Financial Literacy Training (FLT) in various barangay in Cabusao on 22 October to 4 December 2020.

beneficiaries of the said training were from Barcelonita, Biong, Camagong, Castillo, New Poblacion, Pandan, San Pedro, Sta Cruz, and Sta Lutgarda, Cabusao, Camarines Sur.

The Financial Literacy Training was part of the Extension Program of the University entitled “Promoting Livelihood and Sustainability among Small Farmers Fisherfolks through Agroenterprise Approach.”  The CBSUA partnered with Landbank of the Philippines through their Financial Literacy Program (FLP) assisted and facilitated the training by educating fisherfolks and farmers on handling entrepreneurship financial matters. The project had a budget allocation worth P132,000.00 for training supplies, meals, travel expenses, and other miscellaneous.

The training aimed to improve the financial management skills of the farmers and fisherfolks of Cabusao by enhancing their “agripreneurial mindset” and creating a positive effect on their business performance and operations.  It also intended to initiate a change in the mindset among the farmers and fisherfolks of the town with regard to their household finance management. The ultimate goal of the project was to increase household income as well as to enhance financial literacy.

During the 10-day training, parallel sessions were conducted simultaneously in different barangays. Each session started with video presentation from the Bangko Sentral ng Pilipinas about Financial Education as building block for stable economy.  Financial education, planning finances, managing cash flow, and investment were the videos presented during the session.

Table 1. Schedule of Training per Barangay

Date Barangay Resource Speaker Participants Generated
Male Female
October 22, 2020 Barceluneta, Cabusao, Camarines Sur Jemirah Cantoria 23 47
October 22, 2020 Biong, Cabusao, Camarines Sur Maria Francia Asuncion D. Nunez 26 44
October 22, 2020 San Pedro, Cabusao, Camarines Sur Ma. Cresilda M. Caning 34 36
October 23, 2020 Pandan, Cabusao, Camarines Sur Frilliane Mae Bicaldo 18 52
October 23, 2020 Barceluneta, Cabusao, Camarines Sur Maria Francia Asuncion D. Nunez 19 51
October 23, 2020 Biong, Cabusao, Camarines Sur Ma. Cresilda M. Caning 39 31
October 29, 2020 Biong, Cabusao, Camarines Sur Sonny Corporal 41 29
October 29, 2020 Castillo, Cabusao, Camarines Sur Jemirah Cantoria 27 49
October 29, 2020 Pandan, Cabusao, Camarines Sur Frilliane Mae Bicaldo 26 44
October 30, 2020 Biong, Cabusao, Camarines Sur Sonny Corporal 27 52
October 30, 2020 Castillo, Cabusao, Camarines Sur Josephine Cruz 30 43
October 30, 2020 Pandan, Cabusao, Camarines Sur Frilliane Mae Bicaldo 20 50
November 5, 2020 Castillo, Cabusao, Camarines Sur Jemirah Cantoria 25 45
November 5, 2020 New Poblacion, Cabusao, Camarines Sur Josephine Cuz 34 38
November 5, 2020 Pandan, Cabusao, Camarines Sur Sonny Corporal 22 48
November 6, 2020 Camagong, Cabusao, Camarines Sur Maria Francia Asuncion D. Nunez 33 37
November 6, 2020 Pandan, Cabusao, Camarines Sur              Josephine Cruz 31 49
November   19, 2020 Pandan, Cabusao, Camarines Sur Maria Francia Asuncion D. Nunez 21 49
November   19, 2020 Camagong, Cabusao, Camarines Sur Jemirah Cantoria 24 46
New Poblacion, Cabusao, Camarines Sur Sonny Corporal 37 33
November   26, 2020 Pandan, Cabusao, Camarines Sur Maria Francia Asuncion D. Nunez 19 51
November   26, 2020 Camagong, Cabusao, Camarines Sur Jemirah Cantoria 27 43
November   26, 2020 Castillo, Cabusao, Camarines Sur Hanilyn A. Hidalgo 32 38
November 27,2020 Sta. Cruz, Cabusao, Camarines Sur Hanilyn A. Hidalgo 39 31
November 27,2020 Castillo, Cabusao, Camarines Sur Frilliane Mae Bicaldo 41 29
November 27,2020 Sta. Lutgarda, Cabusao, Camarines Sur Maria Francia Asuncion D. Nunez 42 28
December 3, 2020 Castillo, Cabusao, Camarines Sur Jemirah Cantoria 39 31
December 3, 2020 Sta. Lutgarda, Cabusao, Camarines Sur Sonny Corporal 37 33
December 3, 2020 Sta. Cruz, Cabusao, Camarines Su Maria Francia Asuncion D. Nunez and Gladys G. Rosales 42 28
December 4, 2020 Sta. Lutgarda, Cabusao, Camarines Sur Jemirah Cantoria 32 38
December 4, 2020 Castillo, Cabusao, Camarines Sur Maria Francia Asuncion D. Nunez 26 44
December 4, 2020 Sagrada Familia, Minalabac, Camarines Sur Sonny R. Corporal 9

 

10
Total 942 1277

Simple exercise on determining the participants’ cash flow followed after the brief lecture and video presentation on Cash Flow Management.   The pandemic, typhoons, logistics and unavailability of venue affected the implementation of the training.  The simultaneous training recorded a total of 2,095 participants from the nine barangays in Cabusao.

Barangay Total Number of Participants
Barcelonita 140
San Pedro 70
Biong 289
Pandan 500
Castillo 499
New Poblacion 142
Camagong 210
Santa Cruz 140
Santa Lutgarda 210
Sagrada 19
Total 2,219

Table 2. Number of participants attended during the simultaneous training in Cabusao.

At the end of each session, the participants gave their feedback and shared lesson learned.  The responses revolved around the need to save, budget, handle finances, prioritize needs before their wants, the separate entity concept in accounting.  “We were thankful that our community was chosen for this training- seminar. We learned about proper budgeting,” said one participant.

Participants from four barangays even suggested the conduct of other training such as livelihood training on food processing. Aside from food processing, participants from San Pedro also requested training on improving their agricultural productivity.  Similarly, participants from Biong asked for training on organic agriculture production.

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