A Head for Figures
Penman for Monday, June 25, 2007
ON MY way out of ABS-CBN’s Studio 6 where I had gone last week to talk on Pia Hontiveros’s show about writing as a profession, I ran into a former student of mine, Dada Felix, who was coming in for her own interview. Dada’s a Palanca prizewinning fictionist who also happens to be the Vice President for Communications and Stakeholder Relations of the Philippine Deposit Insurance Corporation (PDIC). We had just enough time to exchange pleasantries in the driveway, where she told me that she was there to make a plug for financial literacy. “Financial what?” She’d email me some materials on it, she said, and we went our separate ways.
Sure enough, the very next day, I received a message in my inbox from Dada, providing details of a program the PDIC was promoting among young Filipinos to encourage them to save, and be contributors to a stronger financial system. The idea is to make students learn about savings and the banking system, through teaching modules in economics and values education to be distributed to 5,000 high schools nationwide.
It was interesting to me, because I’ve been forever lamenting the fact that while we keep arguing about which language to teach our students in, we haven’t taught them enough about numbers and figures—the kind that will make an impact on their lives, whether they’re aware of them or not.
Money and savings are part of that unfamiliar culture of numeracy (ie, being numbers-literate). To put it plainly, people should know how to count, and should understand that figures matter—as much as words, more than the stars, and sometimes even more than feelings and opinions, the staples of Pinoy argumentation. When the venerable General Education program of the University of the Philippines was being revised a few years ago, I urged the inclusion of an introductory course in economics for freshmen and sophomores (in the very least, so they could see how state universities are financed and stop complaining when tuition fees go up once in a decade).
This PDIC initiative is a laudable one in that it will instill in our youngest citizens some awareness of how savings are important—not just to one’s own financial health, but also to the banking system and the economy as a whole. More savings means more money in the system to lend and to invest.
It’s probably a reflection of the general downturn in the economy these past many years and also of our spendthrift culture (I think the two go together: if you don’t make much, you’ll need or want to spend what you have) that we don’t save. While it’s been picking up a bit, our savings rate (whether on the national or the household level) remains one of Asia’s lowest—roughly 20% versus Taiwan’s almost 50%.
You and I know the PDIC as a kind of guarantor of deposits. They’re the people you normally don’t want to be dealing with, because if you are, it most likely means that something’s gone wrong somewhere. But it devised this financial literacy program precisely to keep that from happening—to help ordinary citizens become aware of how the banking system works, how to avoid scams, and how to keep the system healthy.
According to the PDIC, “Through their Araling Panlipunan classes, students will learn the significance of savings mobilization in the financial environment and the role of PDIC in looking after the soundness of the banking system. Values education classes, on the other hand, will inculcate in teenagers the values of thrift, frugality, simplicity and temperance. They will also be more aware of their rights and responsibilities as depositors.
“The Teachers’ Guides are designed to help teachers carry out livelier and more interesting class discussions. For example, the teacher’s guide in economics suggests a panel discussion on the relations of various sectors (government, church, trading institutions, private sector, public sector, and banks) in the circular flow of the economy. It comes with guide questions on the importance of saving and investing and PDIC’s role in safeguarding the interests of bank depositors.”
All the best of luck, folks!
I'M SAYING these things like I’m some kind of math whiz, but I’m not; I respect numbers maybe because I fear them, having had a memorable encounter with my math teacher in high school, where my final score in Freshman Algebra was 39.2%, if I’m remembering my nightmares right. That would get you kicked out of any high school, and it didn’t help that mine happened to be the Philippine Science High School, which was supposed to specialize in turning out people who ate differential equations for breakfast.
Fortunately, all wasn’t lost just yet. In one of the great mysteries of my life, I had topped the PSHS entrance exams just the year before—showing, if anything, that I must have had something between my ears worth stirring. I actually liked math; it just didn’t like me. I suspect that the school administrators realized what an embarrassment it would have been for everyone if their topnotcher were to be shown the door after only a year (during which I also discovered female pulchritude, but that’s another story), so they let me make an appeal.
I promptly set out to draft one, with a little help from my father, and with a 13-year-old’s brazenness that I would later have to unlearn, opening my appeal with “At the outset, let me state that I bear malice toward none….” It must have worked, because I was given a year to get myself tutored and to pass my next math subject, which I did, barely. In college, I kept my flickering ambitions of working in science and technology alive by enlisting as an Industrial Engineering major—but again, one semester pockmarked by absences (what, algebra again?) put a merciful end to those hopes.
I still have a thing for numbers—it’s spooky, but I’ve actually memorized my credit card numbers, my TIN, my bank account numbers, and my social security number—but I know well enough to leave the serious figuring to the pros, and to earn my keep with the only thing I have in seemingly boundless supply, words.
I’m also sure that I’d be a better advocate of financial literacy if I had more finances to be literate about—and I have to confess to being one of those people who leave just enough in the bank to pay for next month’s credit-card bill—but I’m working on it (I mean, I’m saving up for the iPhone and the Foleo and the 20-megapixel, 8-gigabyte DigiHickey my fingers seem just about ready to grasp every 4 am right before I wake up to utter darkness and an urgent need for a dash to the bathroom).
SPEAKING OF words and the PSHS, seven alumni from Batch 1982 have put their heads together to create the “DaPisay Code,” a mystery to be unraveled by brilliantly curious minds. You don’t even have to be a PSHS alumnus or student to join in, and there’s P10,000 and bragging rights in it for you if you break the code. Check it out online here.
This is part of Batch 1982’s campaign to drum up interest in the PSHS’s annual homecoming this September. The puzzle was generated by a group that included Iggy Agbayani, an orthopedic surgeon and clinical professor at UP-PGH; Joey Gomez, a telecom expert and UP engineer; Wen Del Rosario-Raymundo, an obstetrician; Marian Roque, a Math professor at UP; John Paul Vergara, a Math professor at the Ateneo; and Jessica Zafra, “The Ruler of the Universe,” as you all know.
Not incidentally, Jessica and I aren’t the only refugees from Math to have come out of PSHS. In the arts and literature, we share the company of writers Luis Katigbak, Marc Gaba, Fidelito Cortes, and Ralph Galan; film directors Auraeus Solito and Lore Reyes; dancer and CCP President Nes Jardin; composer Joel Navarro; and fashion model Anna Bayle.
No, they didn’t get 39.2% in their freshman algebra. Maybe 60%.
AND SPEAKING of my other alma mater, let me share an invitation from the UP Men’s Varsity Basketball Team to join them and Coach Joe Lipa at a fundraising dinner on June 30 at the Bahay ng Alumni in Diliman.
Fortified by strong recruits from the junior teams of the UAAP and the NCCA, the Fighting Maroons are hell-bent on doing their best this UAAP season, which begins on July 7, as its offering to the university’s Centennial next year. The last time UP took the championship was in 1986—way too long ago.
If you think it’s about time the “matatalino” proved something else on the hardcourt, then show them your support by attending the dinner, which will feature a musical program by UP talents. Call or text coordinator Romeo Nones at 0920-9530381 for details.







