I spent a handsome 15 years of my life at school but I don't remember there's financial literacy in our curriculum. It is when I was already trying my luck out in the real world when I learned to educate myself financially. At school, we were taught different subject matters to prepare us professionally, but not financially. That is why no matter how hard you work in life, in the Philippines, you are just like running a rat race. The key really to financial freedom is to learn how to improve our relationship with money, and this is something we badly need to implement at school curriculum.
When I was still a corporate slave, I tried to educate myself financially by attending various financial literacy seminars and by investing on different personal finance books specifically written by Filipino authors. I am glad that our government is finally planning to include financial literacy at school. Should there be a need for textbook to teach such subject to the students, I really suggest to use Filipino authored books as textbooks, and based on experience, here are some of the best books out there to improve our respective Financial IQ.
1. Ang Pera Na Hindi Bitin by Ardy Roberto
Not only is this book handy physically, but the information that you can get from this book can be easily digested. What makes this book effective to readers is the fact that the author, Ardy Roberto, used his personal experiences about his finances to teach a valuable life's lesson in handling money. You can learn how to save, to manage your debts, to maintain your lifestyle and to invest for your personal financial freedom. You can also read my review for “Ang Pera Na Hindi Bitin” HERE.
2. My Maid Invests in the Stock Market … and Why You Should, Too! By Bo Sanchez
A real life experience turned into a valuable source of financial education, this book tackles about one kind of investing vehicle, and that is Stock Market. This book has opened my eyes to the possibility that stock market is not only for the rich and for the educated. If Bo's maid made it to invest in the stock market, then why can't we? This book, although simple and narrative in nature, is very effective to convince people to invest in our securities. I guess this is not only to open the mind of the young ones about the stock market but also to other investment vehicles available out there like FOREX, cryptocurrencies and many more.
3. Stock Smarts- Winning Strategies for Investing by Marvin Germo
For advance financial literacy studies, this book is helpful if and only if a person is investing in the stock market. But if a person has no exposure yet about this investment vehicle, this book can help prepare you if ever you wish to participate in trading the Philippine securities.
4. The Retelling of the Richest Man in Babylon by Rose Fres Fausto
5. Money and Marriage- Ardy and Tingting Roberto
Although the target market of this book are Filipino married couple, why not introduce this to the students because they too will be married soon? This book is more of a workshop than just a reading type of book. If used as a textbook, you can use this as a reference if you want to conduct financial literacy workshop to prepare our kids to manage their finances when they get married soon.
6. No Nonsense Personal Finance by Randell Tiongson
This book is good to use for teaching instruction because it contains step by step guide to financial literacy. We can't just achieve financial freedom unless you satisfy the pre requisites which are unknown to us. It's best to teach this to kids so they know what to do and what not to do. Tiongson's idea are quite practical and an eye opener.
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