Recently it was time once again: Our Entrepreneur’s Lunch in the Philippines took place!
In an informal setting, current micro-borrowers and interested parties can exchange ideas, listen to interesting lectures and gain exciting insights into our organization and work. Anthony, Managing Director of our partner organization Project Life Subic, enthusiastically shared his impressions of the meeting with us.
“A total of eleven people took part, including the employees,” says the 25-year-old. “The network meeting began with an encouraging presentation by one of our micro-borrowers. Shiela Martin opened her own kiosk with our help. She talked about her experiences and our support, and how our program completely changed her life in so many positive ways. She is still excited and moved herself, “I thank GMI for guiding and always supporting me to get the most out of and believe in me”. The micro-credit she received did not only allow Shiela to open the kiosk, but also to sell products other than rice and to expand her range. Today she earns up to 200 Euro per month! Conclusively, she encouraged all participants to never give up their dreams. She also stressed that there are still good and helpful people like our employees and donors who are willing to help them.
Anthony then gave a short presentation on “Financial Planning”.
“I basically shared to them that creating a spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Budgeting is simply balancing your expenses with your income. If you don’t balance and you spend more than you make, you will have a problem. Many people don’t realize that they spend more than they earn and slowly sink deeper into debt every year.”
“I also conveyed to them the importance of opening a bank account so that they won’t spend their extra money on things that they don’t really need. Instead, their money will earn its interest. I gave them my tips on how I budget my money and on how it works for me. I used envelop-money for each of my expenses (envelops for food, clothes, bills, things that make me happy) and most important envelops for emergency and savings. Through this step I distinguish how much I am spending and how much I’m earning per month.”
After the presentations, the participants started into a lively discussion round at the following lunch. “An all-round successful day” – said Susanna, a participant. “I took many inspiring thoughts with me and hope that I can put them into practice. – She will be able to discuss how well this works with the other participants at the next Entrepreneur’s Lunch.