2012 Towards Financial Freedom
Written by Mark Lee:Reading countless books written by well renowned financial gurus will give you the idea that education we get from school, even from the best universities in any first world country, prepares you for technical studies. But few offer a guide on how to become self sufficient and financially free.
I believe this led the founders of our organization to make its primary reason to include in its mission the promotion of financial education. It was in this spectrum that “Towards Financial Freedom” was conceptualized. The whole concept of the gathering was to share the technical knowledge and experience in the aspect of finance, both personal and in business. The event was graced by a little more than ten enthusiastic participants, which provided a friendly environment, and was flourished by lively discussions and sharing of experiences that differed from one another. This also paved the way of a more personalized learning as each topic was discussed lengthily in the perspective and unique circumstance of each individual.
In making the course, the organizers had one main goal, and that is to simplify the technical aspects to the point that, as my professor puts it, “your grandmother will understand it”. It is our belief that understandability and practicality are the key success factors that would pave the way for the participants to practice what has been taught to them.
The main takeaways of participants were (1) practical budgeting using excel spreadsheet, (2) the true and simple definition of an asset and liability; and with what they have now, make a distinction whether they have an asset or liability, (3) alternative sources of income, which would include a practical guide to investing in stocks, bonds and mutual funds and (4) how to assess an investment or business as good or bad.
Given the genuine appreciation by the participants it is more than likely that the next financial literacy is just around the corner. So my advice to people interested in the program; stay tuned for the next financial freedom course.
Mark Lee