FINANCIAL LITERACY TRAINING

FINANCIAL LITERACY TRAINING

Para kanino ka bumabangon? Borrowed from a popular TV advertisement, Dante Frias, JVOMFI Program Manager, asked this question to the participants as they started to fill in their vision boards. Everyone seemed enthused as they flip the pages of the magazine looking for something that envisioned their goals and dreams in life. Some cut-out pictures of children going to school, happy families, health ambassadors, travel advertisements, gadgets, convertible cars, and business ventures.

Although the glossy pictures in the magazine enabled them to visualize their goals and dreams in life, they were reminded that it was still a long journey ahead – a financial journey to realizing these goals and dreams. And so Mr. Frias and the JVOMFI team discussed the seven financial skills in helping them reach their goals and dreams.

The JVOMFI were given a topic to discuss. Mr. Frias started with the topic Identifying Financial Goals. Alejandro Fuenzalida and Daniel Challoy, JVOMFI Account Officers (AO) discussed Budgeting, Planning, and Preparing Individual Budgets. Branch Manager Jayson Pascua and AO Raquel Ozo discussed the Value of Savings. Branch Manager Dixon Dodon and Beatriz Durante discussed the Value of Investment.  Ms. Raquel Lawa, JVOMFI bookkeeper, and AO Romeo Garcia discussed Credit Management. And the final topics, Financial Freedom and Failure; and Protecting your Assets were discussed by Mr. Frias and Mr. Giovani Otto.

The participants were also taught how to compute their net worth, and create their income statements and monthly budget. Some of the participants realized they have assets while some were surprised that they were able to overcome challenges in their lives despite their limited budget.

The Jaime V. Ongpin Microfinance Foundation, Inc. staff conducted the financial literacy training on Sept 08 and September 15, 2022, in partnership with the Tuba and Sablan Municipal Agriculture Office. The training was provided as part of the farmer’s field school (FFS) program of the Municipal Agriculture Office of Tuba and Sablan a 5-month project funded by TELUS Philippines Inc. The project targets to assist 80 farming household members.

The participants were thankful to JVOMFI for the training “Naragsak iti adda savings na, nu adda umay nga rigat, adda iti mausar. Dakayo nga mas younger, mayat nu dyay ubing kayo pay lang nga ag-urnong. Haan pay nga agcollege ti ubing, dakami marikna mi ti rigat nga agsasabay nga adda bayadan diyay balay ken agpaeskwela. Iyaman ko nga napadasak iti kastoy nga seminar, nga adda immay nga nangisuro kenyami. Adda guide mi nga mangrugi manen. salamat.” (It is good to have savings; we have money to spend when challenges come. To the younger generation, it is good to start saving while you are young, while your children are not yet in college. We feel the difficulty of paying house expenses while sending our children to college. I feel grateful for having to attend this seminar, that someone came to teach us. This will serve as a guide for us to start again. Thank you.) one participant said. “Mamimira-ot kami ngay, manipod idi elementary ti anak ko, iggana nag college di na pay napadpadas iti sumrek ti restawran. Dendenggek ti ibabagbaga yu ket makapasangit ken makaparagsak, makapatawa Addo ti naadal ko - how to manage, how to budget  and how to manage your business and be a good payer. Naimbag ta naamwak dagitoy. Isu dagitoy nga ipapaseminar you, the more pay nga i-aaply ko, ibilin ko iti anak ko ken apo.” (We are poverty-stricken since my child was in elementary until now that she is in college she never tried going to a restaurant. While listening to what the others have to say, I feel like crying, happy, and laughing.  I learned a lot -  how to manage, how to budget, and how to manage your business and be a good payer. It’s good that I learned about these. I will apply what I learned in this seminar and I will also instruct my children and grandchildren.), another participant said.

Season-Long Organic Agriculture Training For Farmers of Tuba and Sablan, Benguet Commenced

Season-Long Organic Agriculture Training For Farmers of Tuba and Sablan, Benguet Commenced

Mr. Ronie Carlos of OMAG Sablan explains to the farmers the training coverage which include Land Preparation, Crop Pests and Diseases Management, and Preparation of Concoctions for Plant Nutrition and Control of Pests, Small Animal Pest Management.

The back-to-back Season-long training on Organic Agriculture for the farmers of Taloy Norte, Tuba and Kamog, Sablan, and Benguet was launched on June 9, 2022, in Taloy Norte, and June 14, 2022, in Kamog, Sablan.

As of June 30, 2022, 50 farmers of Sablan and 40 farmers of Tuba have been training for more than a month weekly. The trainings are expected to be completed by October 2022 as part of the commitment to the Telus International Philippines funded project.

Seizing the Opportunity even during the Pandemic

Seizing the Opportunity even during the Pandemic

During the pandemic Mrs. Babelyn Velasco, a member of women’s group in Shilan, La Trinidad, started with flower dealer and chicken dung business. She delivers vegetables in Metro Manila and buys chicken dung for fertilizer as backload. She is able to sell the chicken dung to 50% higher from its buying price.

She also saw the opportunity to sell flowering plants since it has become a trend during the pandemic. She sells her potted plants in Dagupan, Pangasinan. Her vegetable produce in Metro Manila and the chicken dung she backloads from Manila she sells it to farmers in La Trinidad. She rotates her time and efforts in vegetable dealing, chicken dung and potted pots business and generates income from these three.

She has been a client of JVOMFI for more than 10 years now. She used her first loan for “tunnels” in her farm. Farmers use the term tunnel referring to the plastic covering formed as tunnels to protect the plant from weeds, conserve water and serves as small greenhouse.

She advised her fellow entrepreneur to just keep on trying.

Darjane’s Garden

Darjane's Garden

The sunflowers in the Darjane’s Garden is nothing like we’ve ever seen. We were expecting to see the usual sunflowers that grow along the hillsides. But these sunflowers were worth the ride through the narrow and steep roads going to Shilan, La Trinidad.  We were welcomed by sunflowers as big as serving plate in the entrance of Darjane’s Garden.

According to Mrs. Jane Montes, owner of Darjane’s Garden, the sunflowers were supposed to be sold, but since it bloomed late, they were not able to sell it. Instead they opened their flower farm for public viewing, it clicked, and in just few days the sunflowers went viral online and crowds came to their garden to personally see the ten thousand sunflowers in full bloom.

Mrs. Montes is a returning client of Jaime V. Ongpin Microfinance Foundation, Inc. According to her she returned as client because of convenience and loans are accessible.  She used her first loan to augment the tuition of their children and as a returning client, part of her loan goes to the farm operations.

Aside from the experience of seeing gigantic sunflowers and other flowering plants in their garden we took home yet another lesson in resilience through Darjane’s Garden. Sometimes life does not go as planned, yet they made the best of what they have even when it was not something that was planned for. They continued sowing, the harvest they received may not have been what they have expected but it was worth their toil. Mr. and Mrs. Montes did not give up despite setbacks of not being able to sell their sunflowers yet made a tourist destination in the heart of Shilan, La Trinidad. During the pandemic and constant lockdowns, they still continued to plant despite not having patrons, now that the restrictions are slowly lifted the flowers they planted in season of lack are becoming attractions to local and foreign tourists alike.

JVOMFI is a Farmer’s Ally

JVOMFI is a Farmer's Ally

Mrs. Marivic Tuglin needed additional capital for their farm and from invitation of neighbors in Shilan, La Trinidad she started to be a client of JVOMFI. In 2016, she first used her loan to buy garlic, lettuce, and Chinese vegetable seedlings

During harvest season, buyers called “arangki” in local dialect, come and buy their produce, and these buyers transport and sell them in Metro Manila. However, if there are over supply of harvests the arangkis cannot buy them all so they sell the extra produce in the market or in the trading post.

As a client of JVOMFI for five years Mrs. Tuglin, is thankful to JVOMFI since it is a big help to them, especially during the times were the prices of vegetables go down and nothing is left for capital, they borrow from JVOMFI and use it to fund their farms for another cycle of sowing. “JVOMFI made a big contribution in times of need for our family. JVOMFI staff are easily approachable and it is easy to borrow from JVOMFI,” she said.

During the pandemic, we were severely affected, the prices of vegetables were down. No one is buying the vegetable due to lockdown and restrictions everywhere, unsold vegetables were damaged. Despite all these they continued planting and sowing and looked for other means to generate income. Mrs. Tuglin saw the demand for plotted plants so she also tried planting flowering and ornamental plants. They were able to profit from selling potted plants and thankful for the capital they borrowed from JVOMFI even during this pandemic.

Mrs. Tuglin is on her 10th cycle of loan. In her five years as client with JVOMFI she also availed emergency loan to augment educational expenses of her children.

She advices her fellow farmers and clients to do well in farming, make sure to use loans accordingly, just use it for its intended purpose, so we can see the returns and can help us in our everyday expenses.

Blossoming Business

Blossoming Business

Mrs. Sylvia Oydi and Aida Busoy are neighbours in Tawang, La Trinidad. They have been loyal clients of JVOMFI since 2003.

Amid the COVID-19 pandemic, the rise of plantitos and plantitas have opened an opportunity for plant hobbyist and potted plant sellers to generate income. Our clients from Tawang, La Trinidad, Mrs. Oyti and Mrs. Busoy has always been into potted plants business. They sell succulents and flowering plants like African violets and poinsettia.

Even during the lockdown, they continued planting and propagating their potted plants. They did not see it as a setback but as a time to propagate more plants and make more mother plants. As the demand on potted plants grow they are able to sell more plants at 50% increase in selling price. Buyers would also buy their plants as buds. Before, they sell African violets at ₱35 or 3 pots for ₱100, now they are selling it at ₱70- ₱80 per pot, and are able to sell 40-100 pots per week. Sometimes, they cannot even meet the orders due to the high demand of potted plants.

Mrs. Oyti and Mrs. Busoy are one of the first clients of greenhouse loan. Because of the greenhouses they are able to plant even during rainy season and make more income since the rain does not destroy their plants. It is sturdy, they said, unlike the bamboo greenhouses they used to have.  “We can plant and sell all year round.” This year Mrs. Oyti and Mrs. Busoy will complete the payment of their greenhouses.

Greenhouse loan is payable in 2 years. To be eligible for a greenhouse loan a borrower should be a permanent resident and owner of the farmland, at least 1-year practitioner of organic farming, has established market, member of recognized organic farming group and has capacity to pay based on cash flow.

Here's a quick guide in growing African Violets 🙂

-pluck a leaf from a mother African violet planet

-plant the leaf in a compost/ soft soil

-wait for it to bud, and replant in a pot

-African violets thrive in compost soil or “alnos”

Greenhouse for an Organic Practitioner

Greenhouse for an Organic Practitioner

“The rains stops us from planting and causes loss of income, now with a greenhouse, even when it rains I can still plant inside.” Just like his father before him, Tyler is an organic practitioner from Tublay, Benguet. He used to help his father in their farm and in 2007; he started to practice organic farming on his own.

 He learned from an acquaintance that JVOMFI started offering Greenhouse loan, so in 2018 he joined JVOMFI and in 2019 applied for a Greenhouse loan worth P50,000. He used the loan to purchase steel pipes to construct a 10ft by 60ft greenhouse.

“The greenhouse is a great help, I used to make around ₱5,000 monthly in this area, now I make around ₱10,000 monthly. In one year, I can make about six (6) cropping” Tyler said motioning where the greenhouse stands.  He continued that prior to having a greenhouse, production was low but now that they have a greenhouse, production yield is high. He markets his produce in LATOP joined LATOPMPC (La Trinidad Organic Practitioners Multipurpose Cooperative) Mountain-grown Natural Food Product of Porta Vaga.

As an organic practitioner, Tyler is proud that he contributes to the environment and consumers’ welfare.

La Trinidad Client

Living on Vegetable Trade

“Aw-awanak met lang, from the start per dia- ak” (I started from nothing, zero, I started on per day basis). Dona humbly admits that she started from zero, before reaping the success that she has now. She continues, “Although I tried to work for an NGO before, pay is still very little. Here in La Trinidad we live on vegetable trade, vegetables are mostly our source of income, so I might just as well do business in vegetable trading. Although sometimes we lose, the vegetable price changes almost every hour, typhoons come and damage the farmers’ vegetables, we expect a lot would be arriving but only few would arrive, and sometimes it’s all good, the weather is fine, the vegetable is good but the price is just low. However, we still strive, that’s why we need to be focused and hands on when you are in this business, she confides.“

She now owns a stall at La Trinidad Vegetable Trading post and has been in the business of vegetable trade for more than 10 years. She is very hands-on when it comes to her business and by virtue of her diligence she has acquired a Tamaraw FX, a truck, a house and lot and has expanded trade to Urdaneta, Pangasinan.

Mrs. Donabel “Dona” Albino, is one of the most valued clients of Jaime V. Ongpin Microfinance Foundation Inc. She started in 2005 with an initial loan of 5,000 pesos. She spent her first 5,000 pesos to buy vegetables for re-selling. From her initial loan she now reached her 29th cycle of 79,000. She is one of the few clients who unfailingly met payment dues.

She is a role model, not only because she handles her financial obligations well but because she knows how to extend help to others. She has been financing small-time farmers, assisting those who are affected by typhoons by providing additional capital. She extends help to children of farmers studying in the city – provides for their tuition and other needs when the farmer still can’t send them money since harvest is still a few months away. In turn, these farmers sell to her their produce and pay her when they are able to. She also employs four people in her stall at trading post and another two at Urdaneta.

She dreams of expanding her business someday, by looking into different outlets and acquiring another stall for vegetable trading at Nueva Vizcaya.