One of the main problems that people in general suffers from is the lack of financial literacy.
People know how to earn money.
People know how to spend money.
Some people know how to save money.
However, very few people know how to EFFECTIVELY and EFFICIENTLY handle their money. After all, if you are young, you have most likely never been out of a job, sick, broke, or a combination of all.
I've been out of job, broke, and pregnant. It's one of the worst situations that you could ever be in. I've also been broke and sick, living on paycheck to paycheck. I've lived on Php500 for the next two weeks not knowing how to make everything fit because I had a baby to feed, transportation costs to manage and a home to feed.
When you don't know how to manage your finances and invest well, your life can literally go to pieces in a snap. You could lose a job and be lost. You could get sick and be in debt overnight. You could have an emergency and not have anything to cover it.
Only 2% out of more than 100M Filipinos are financially literate according to a World Bank study. This means that 98M Filipinos are not adept or skilled in making smart money decisions.
Learning how to manage your money is very important so that you can live a comfortable life and not simply survive. With inflation an ongoing thing and wage still not rising, learning how to invest, save, and spend wisely is very important.
Praxis helps people realize this with the help of a board game. Initially I was very hesitant because it was just a board game but after playing one round, I realized that this board game mimics real life with all the sudden twists and turns. One day you could have a secure job and the next day, the company shuts down. If you don't know how to save your money, then that's gonna be a problem.
I've talked about ways to save money and how to grow your money. In a country like ours where over 22M live below the poverty line and where inflation is at a 9 year high of 6.4%, we need all the help we can get.
Another thing I've learned in life is that it is not the amount of money that you earn but how you handle what you have. You could earn 6 figures and still have no savings.
Praxis teaches you how to avoid that. When you play the Praxis game, it will make you realize what you value in life and how you manage your money. Each Praxis Gameplay is facilitated by a certified Game Master who will direct the flow and announce realistic "Breaking News" much like how the world suddenly throws curve balls at you in the likes of health scares, drastic changes in stock prices, and other things that affect your decision about money.
If you would like to know more about financial literacy, leave a comment and I'll help you get in touch with Praxis.