It is difficult to demand something from someone when they have not been trained for it. For example, people are commonly asked to simply save. But who educated them for it? The reality is that the financial education in the country, and in the region, it is a pending assignment.
He BHD Bank has sought a solution to this gap: it educates, advises and trains from all its possibilities. From mid-2022 to August 2024, it has implemented its training plan Responsible Financewhich has both an in-person and digital facet.
To date, 870 workshops have been held financial educationwhile on their website www.responsiblefinances.bhd.com.do More than 325 thousand interactions and queries have been exceeded. In this way, thousands of people have benefited, including many who are not clients of the financial institution.
“At the bank we have a deep-rooted philosophy that economic success goes hand in hand with human success. Healthy finances are the result of successful planning. This becomes a powerful tool that changes individuals, families and societies. And that wants to be a special contribution of the BHD: contribute to progress through the training and development of skills that facilitate intelligent decision-making about finances, which in turn contribute to their economic, financial and human success,” explains Kirssys Abreu, second vice president of Social Responsibility and Sustainability.
This comprehensive vision is manifested in the way entrepreneurs are served, for example. For them there is a non-financial value proposition that involves training programs, specialized in this case. In addition, there is close support in the evolution of their small and medium-sized companies.
The efforts do not stop there, but, thinking about the youngest Dominicans, the institution holds savings talks and financial education to children and adolescents in basic and high school courses in educational institutions. More than a thousand students have received guidance on the correct use of money, economic planning and the relationship of these factors with their future.
Financial education online
Through the web www.finanzasresponsables.com.do most of the training effort has been consolidated. The platform has a blog, economic dictionary, calculators, simulators, financial profile and an alphabet of banking instruments.
In this way, a self-learning community has been created with highly educational content so that everyone interested can resolve everything from their most basic doubts to more complex economic decisions. Among them: how to prepare budgets, how to invest, evaluate credit capacity, make correct use of credit cards, have healthy financial habits and, of course, implement the best savings practices.
On the other hand, this program is aimed at responding to demands such as the Sustainable Development Goals. Included there are aspects such as the end of poverty, quality education, decent work and economic growth, and the reduction of inequalities.
“These cases of which we have received testimonials reflect the positive impact of our initiatives on the financial planning of our clients,” says Kirssys Abreu, 2nd VP of Social Responsibility and Sustainability.
Tuned tools
To make planning and savings even more practical, the entity has valuable tools in its Personal Mobile Banking. BHD.
In the menu “My Goals” It is possible to set financial objectives (travel, studies, vehicle, etc.) with their corresponding amounts and periods. That way it is easier to keep track of income and expenses.
“In very simple terms, we could say that good planning is evident when the person controls their income, saves, does not become over-indebted and can afford their leisure. On the other hand, when you do not have an emergency fund, you do not have a minimum savings amount, you cannot cover your current expenses and you have more than two credit cards without defined objectives; Well, it’s time to turn on the alarms and seek guidance,” advises Ramírez.
In the program’s experience, having a solid knowledge base helps banking users subsequently get more out of financial products. In such a way that digital savings accounts, investment funds, financial certificates, loans and credit cards all work for the prosperity of savers.
