Who We Are
Budget Squad Manila, created in August 2016, is a start-up lifestyle brand that delivers creative and exciting personal finance products/tools through artists collaboration and has a social mission of promoting financial education by developing a program called OPLAN Kaalaman sa Pananalapi (OKSP), a free financial education program for low-income communities.
Our mission is to build a brand that offers creative, practical and locally-made personal finance tools, such as planners, notepads and cash envelopes, which will guide Filipinos on their personal finance journey.
Our interest in financial education has grown because of booming consumerism, stagnant income, ballooning debts and increasing complexity of financial products and services today. These concern most Filipinos, who lack necessary financial skills to make informed decisions and choices. That is why we made it our mission to eliminate financial illiteracy and inspire our generation to take action!
Also, we allocate 20% of our net profit to OKSP.
The Advocacy : OPLAN Kaalaman sa Pananalapi
Budget Squad Manila developed OKSP, a free financial education program targeted for the low-income communities in Philippines. The purpose of OKSP is to teach the significance of money and how to manage it properly. It offers the opportunity to learn basic skills about earning, spending, saving, investing and borrowing. When they are financially aware, they can make informed financial decisions, which can help them in planning and achieving for their life goals.
- To introduce and clarify financial concepts
- To guide in making better financial decisions
- To teach on how to access financial products and services
- To encourage building of savings and assets
- To change mindset in overcoming vulnerability
- To plan towards economic security
Why Low-Income Communities
Budget Squad Manila developed a financial education program targeted for the low-income communities in Philippines. There has been a scarcity of programs on issues affecting low-income Filipinos--which according to the 2012 Family Income and Expenditure Survey of Philippine Statistics Authority, comprised of 12.9 million households--in relation to financial education. Particularly as to how these groups access financial information, the barriers they encounter and the opportunities they have to improve their financial literacy.
Many of Filipinos get their financial information and advice informally such as from friends, family and the media. But where do they turn when they need more informed or personalized advice with their personal finances? Majority of financial institutions and services in the Philippines tend to concentrate in highly urbanized and upscale areas. Whereas in the rural and non-upscale areas, where high density of low-income communities live, are often bereft of quality financial options barring their sustainable development.
Though there is a big industry of financial advisers to give financial information and advice to Filipinos, who can afford them, low-income Filipinos lack the means to purchase that help. Moreover, mainstream information and advice from these financial services can be inappropriate for low-income Filipinos.
Target Beneficiaries for the Pilot OKSP Program
The target beneficiaries for OKSP’s pilot program are 105 chosen individuals, mostly coconut farmers, coconut sugar makers, fishermen, college students and small enterprise owners from the municipality of Alabat, an island town in the province of Quezon. The municipality of Alabat, with most people are either old (retirement age) or young (elementary school children), has a population of 16,478, which comprises of 2,123 farmers and 1,296 fishermen, with average annual income of 73,200 pesos (1,374 USD)
Meanwhile, coconut farmers are considered the poorest among the Philippine agricultural sector earning 50 pesos per day. To address this problem, the local government unit (LGU) encourages coconut and other crops farmers to diversify their farming system to become suppliers not only of raw materials but also high-value products such as the coconut sap sugar to increase their income. The LGU expects the farmers to manage their own enterprises through farm business soon yet this requires financial skills that the farmers lack.
Pilot Program Proper
Budget Squad Manila will conduct a training for 15 community members, who will later be facilitators/coaches of OKSP, so they will be mentally and psychologically equipped to help the beneficiaries and will later be able to replicate the program on their own. The 15 facilitators will undergo the community facilitators training program, which will be used to introduce to them OKSP’s training materials and conduct mock training sessions standardizing the timings, use of teaching materials and methodologies.
On the other hand, the other 90 participants of OKSP are community members, who will be selected based on the commitment to learn and willingness will undergo 10 weeks of financial education classes.
Monitoring and Evaluation
Budget Squad Manila will develop a monitoring strategy to examine the progress of OKSP and will document lessons learned. In addition to reports, the Squad will organize weekly meetings with the community to generate feedback, facilitate planning and promote people’s participation.
The evaluation will be conducted at the end of the program period. The progressive indicators, identified during the baseline survey, will be used to compare the program results. Case studies, best practices, lessons learned, and other information will be carefully documented and presented in the final program report.
Rewards photos can be viewed on Budget Squad Manila's Facebook and Instagram pages.
Where will my money go?
For every donated amount, a participant/beneficiary will get a learning kit, which contains a work book--includes fifteen (15) financial education modules to be discussed during program--, a calculator, a notebook, a pen, a totebag, a shirt and a personal finance planner.
Php 500 (10 USD) donation, 1 learning kit for 1 participant
Php 1,000 (20 USD) donation, 2 learning kits for 2 participants
Php 2,500 (50 USD) donation, 5 learning kits for 5 participants
Php 5,000 (100 USD) donation, 10 learning kits for 10 participants
Php 10,000 (200 USD) donation, 20 learning kits for 20 participants
Where to deposit my donation if I don't have PayPal or credit card? (Offline Donation)
You can send your donation via Bank of the Philippine Islands (BPI) and GCash. Kindly send us an email ([email protected]) with a photo of deposit slip or GCash receipt--as proof of donation--with your name, address and contact number so we can send your rewards, for Php 500 and above donations.
1. BPI Account Name: BUDGET SQUAD MANILA CO
BPI Account Number: 0643-1292-05
2. GCash Account Name: MICHELLE MARIZ M PECDASEN
GCash Number: +639279257793
THANK YOU SO MUCH!