PESO SENSE The Philippine Financial Freedom Campaign

BACKGROUND Every year, Overseas Filipinos send over $20 billion worth of remittances into the country -- accounting for close to 10% of the national economy -- that helped cushion the country from the catastrophic effects of the global financial crisis. – Business World Online, 2013 Personal remittances from Overseas Filipinos (OFs) rose by 6.8 percent year-on- year in January 2014 to reach US$2.0 billion. The solid growth of remittances is expected to provide support to the continued strength of the current account. – Bangko Sentral ng Pilipinas, 2014 Overseas remittance flows to the Philippines will likely expand at a faster pace of 8 to 8.5 percent in 2014 on improved global growth prospects and post-super typhoon “Yolanda” (Haiyan) reconstruction. - Standard Chartered, 2014

BACKGROUND Currently, there are (29) organizations actively conducting Financial Literacy Some are sustainable while some are held only once Some materials are for public consumption while some are not Some are free while some require payment (average of P5,000) Some are concentrated in migrant populated area, e.g. National Capital Region only Private sector cooperation (banks, insurance, telephone companies, etc.) are very active both in information campaign and FLCs especially during pre-departure orientation seminars, caravans and road shows Common market of financial literacy programs are OFWs or their families, very limited financial literacy program for permanent residents Limited discussions on social remittances (encouraging OFs to give back to the country); more on investments, savings, purchase, insurance, etc. -CFO, 2012

BACKGROUND PESO Sense PESO Sense is designed to effect behavioural change from spending to saving among the recipients and senders of remittances

BACKGROUND PESO Sense PESO Sense guarantees an innovative, simple, fast, accessible, reasonable and dynamic campaign to achieve financial freedom for six (6) profiles of Overseas Filipinos and the rest of their families left behind. PESO SENSE FOR entrepreneurs

BACKGROUND PESO Sense Brochures, Websites, Audio Visual Presentations, Phone Applications, Facebook PESO Sense maximizes the use of current (and future) trends in communication and dissemination channels: Brochures, Websites, Audio Visual Presentations, Phone Applications, Facebook and other emerging channels.

BACKGROUND PESO Sense, which was launched in 18 October 2013, aims to improve financial literacy by promoting productive expenditure, greater saving and entrepreneurship among Filipino beneficiaries of international or domestic remittances. PESO Sense, which was launched in 18 October 2013, aims to improve financial literacy by promoting productive expenditure, greater saving and entrepreneurship among Filipino beneficiaries of international or domestic remittances.

BACKGROUND PESO Sense is funded by the Western Union Foundation, the philanthropic arm of The Western Union Company, and Western Union Agents Petnet and eBusiness Services PESO Sense is funded by the Western Union Foundation, the philanthropic arm of The Western Union Company, and Western Union Agents Petnet and eBusiness Services PESO Sense is being implemented by the Commission on Filipinos Overseas (CFO) with assistance from the United Nations Development Programme (UNDP). PESO Sense is being implemented by the Commission on Filipinos Overseas (CFO) with assistance from the United Nations Development Programme (UNDP).

2013 ACCOMPLISHMENTS PESO Sense Launching Attended by almost 200 guests from various sectors such as civil societies, government and private sectors, NGOs, international organizations and financial literacy advocates. The said event was covered by leading media organizations in the Philippines. The said event was covered by leading media organizations in the Philippines.

2013 ACCOMPLISHMENTS PESO Sense Christmas Edition Leaflets More than 300,000 PESO Sense Christmas Edition Leaflets were printed.

2013 ACCOMPLISHMENTS Distribution of PESO Sense Christmas Edition Leaflets Majority of the leaflets were distributed by Petnet and eBusiness Services through its outlets nationwide. CFO also distributed the PESO Sense Christmas Edition Leaflets in various locations such as CFO Registration Area in Manila and Cebu, International Airports in Manila, Waiting Lounges at Philippine Overseas Employment Agency (POEA) and Overseas Workers Welfare Administration (OWWA).

2013 ACCOMPLISHMENTS Fabrication of PESO Sense Christmas Trees Four PESO Sense Christmas Trees were fabricated and placed in: CFO Registration Area in Manila; CFO Registration Area in Manila; International Airport in Manila; International Airport in Manila; Waiting Lounge at Philippine Overseas Employment Agency (POEA); and Waiting Lounge at Philippine Overseas Employment Agency (POEA); and Registration Area at Overseas Workers Welfare Administration (OWWA). Registration Area at Overseas Workers Welfare Administration (OWWA).

2013 ACCOMPLISHMENTS PESO Sense Advertisements on Philippine Daily Inquirer (December 27 and 30, 2013)

2013 ACCOMPLISHMENTS PESO Sense Website Launched a PESO Sense dedicated website (

2014 TARGETS PESO Sense Bookmarks CFO will start the distribution of the bookmarks by May The Bookmarks will contain Ten Sensible Tips for each PESO Sense profile. More than 300,000 of bookmarks will be printed and distributed. The same bookmark will be downloadable at PESO Website.

2014 TARGETS PESO Sense Video CFO will launch by May 2014 PESO Sense Videos for each PESO Sense Profile. The 60-second animated videos will serve as a promotional campaign about the advocacy. Each video has a theme customized to each PESO Sense Profile. PESO SENSE FOR entrepreneurs

2014 TARGETS PESO Facebook Page CFO will continuously use Facebook as an effective mechanism in promoting the advocacy of PESO Sense (

2014 TARGETS PESO Sense Modules CFO will upload in the PESO Sense website the free and online financial literacy modules. Each module is customized to each PESO Sense Profile. PESO SENSE FOR entrepreneurs

2014 TARGETS PESO Sense Mobile Application / SMS Development CFO will start the exploratory meeting by July or August of this year. The meeting will include mobile app developer and representatives from leading telecommunications companies in the Philippines.

PESO SENSE The Philippine Financial Freedom Campaign