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BSP Launches a Financial Education Campaign for Millennials on Facebook

08.31.2017

The Bangko Sentral ng Pilipinas (BSP) revealed today that it has created a Facebook (FB) account called PisoLit as part of its Economic and Financial Learning Program (EFLP). This account is distinct and separate from the BSP’s official Facebook page.

PisoLit provides a digital, social media-focused dimension to the BSP EFLP which initially consisted of structured, face-to-face learning events for targeted audiences like schoolchildren, students, the workforce, and special sectors like overseas Filipino workers and their beneficiaries, as well as participants in some social benefit programs of the government.

PisoLit targets online Filipinos, particularly millennials ages 18-34 years. Based on research by analytics firms, Filipinos spend more than four (4) hours online per day, the highest among surveyed countries1; 53 percent of Filipinos are active social media users; and those ages 18 to 34 dominate the FB platform2. Thru PisoLit, the BSP hopes to leverage the FB platform and make financial education and consumer protection the next trending topics among Filipino netizens and millennials. PisoLit content are stylized to fit the posting style of the target generation. These posts persuade them to practice prudent financial management tips that are applicable to their everyday life. The ultimate objective is to increase Filipinos’ awareness of financial literacy concepts, develop skills that can make them better financial stewards, with ability to protect themselves from financial fraud, and consequently contribute more effectively to the Philippine economy.

The PisoLit posts will reach out to those who are about to start their careers, or are trying to manage the little amount of money they have. PisoLit targets those who want to get out of debt and change their “paycheck to paycheck” lifestyle.

To visit the “PisoLit” page, look for @pisolit on FB.

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1 Source: Kemp, S. (2017, February 15), Digital in 2017: Southeast Asia Regional Overview, We are Social, Singapore.  Retrieved from: https://www.slideshare.net/wearesocialsg/digital-in-2017-southeast-asia.
2 Source: Kemp, S. (2016, September 5), Digitial in APAC 2016, Singapore. Retrieved from: https://www.Slideshare.net/wearesocialsg/digital-in-apac-2016

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