Information campaign: Metrobank launches saving and investing learning initiatives in the Philippines

Finance boils down to decisions made in spending, using credit cards, and investing. Unfortunately, many Filipinos fall victim to investment scams, get caught in cycles of debt, and struggle to keep up with the rising costs of living.  The people at Metropolitan Bank & Trust Co. (Metrobank) want to change that by equipping customers with the knowledge they need to make good financial decisions.

Metrobank chief marketing officer Digs Dimagiba says, “Our customers are people, not accounts. As such, we want to enable them to live life to the fullest. Through financial education, our customers can make decisions on how they can use their money in smart and meaningful ways.”

Metrobank has one of the largest networks in the Philippines, with over 950 branches and over 2,300 automated teller machines (ATMs) nationwide, and more than 30 foreign branches, subsidiaries, and representative offices.

Metrobank has come up with two financial education initiatives: MoneyBasics and Earnest.

MoneyBasics is a collection of simple and creative tips that help customers build up a habit of saving. At its center is #The30DayMetrobankChallenge, which aims to build a foundation of financial stability by learning to manage debts, track expenses, and build an emergency fund.

For people who already save, Metrobank offers Earnest. Designed to give customers the confidence to invest, Earnest is a website that contains bite-sized lesson cards and easy-to-read articles that they  can learn while on the go.

Earnest covers a wide range of topics such as the basics of investment, compound interest, and the myths and misconceptions about money.  And instead of pushing for a specific kind of investment, it promotes choosing investments based on one’s lifestyle and goals.

“Finance is not one-size-fits-all. Financial education should respect how people come from different life stages. Instead of promoting specific products, we guide people into a general direction where they can be proactive and get what they want out of life,” Dimagiba says.