More than 50 fisherfolk from across Batanes are gaining practical financial skills through a program designed to help them manage income, build savings, and make more informed financial decisions.
The Fish N’ LEarn financial education program was organized by BDO Foundation, in partnership with the Bangko Sentral ng Pilipinas (BSP) and the Bureau of Fisheries and Aquatic Resources (BFAR). Participants came from all six municipalities in the province.
The training covered essential topics including budgeting, saving, debt management, insurance, financial planning, and micro-entrepreneurship.
Rather than relying solely on lectures, the program used real-life scenarios designed around the financial challenges of fishing communities.
Turning financial lessons into practical skills
IMAGE CREDIT: BDO
A key part of the program was a game-based learning activity that allowed participants to simulate real financial decisions.
Through the Fish N’ LEarn game kit, fisherfolk practiced earning, borrowing, buying, and selling, giving them an opportunity to apply financial concepts in situations that resemble the decisions they make in everyday life and livelihood.
The approach is intended to make financial education more relevant to communities whose income can be affected by the nature of their livelihood.
For fisherfolk, understanding how to budget during periods of income and how to prepare for emergencies can be particularly important. Building savings and managing debt can also provide households with greater financial flexibility when unexpected expenses arise.
From financial education to formal banking
IMAGE CREDIT: BDO
The initiative went beyond teaching financial concepts by giving participants an opportunity to immediately access formal financial services.
Representatives from three banking institutions operating in Batanes assisted participants in opening bank accounts during the first day of the training. This allowed fisherfolk to put lessons about saving and money management into practice rather than simply learning them in a classroom.
The Bangko Sentral ng Pilipinas has also highlighted the role of formal financial services in strengthening financial inclusion among underserved and low-income communities.
In an earlier Fish N’ LEarn rollout in Batanes, BSP-supervised financial institutions assisted fisherfolk in opening Basic Deposit Accounts, designed to provide an affordable and accessible entry point to formal banking.
Fisherfolk see value in better money management
For participants, the lessons extended beyond simply learning how to save.
Ramil Gonzales, one of the participating fisherfolk, said the training encouraged him to explore additional sources of livelihood, save regularly, avoid unnecessary debt, set aside money through savings groups, and remain alert to scams.
His takeaway reflects a broader objective of financial literacy programs: helping people make financial decisions that strengthen their households rather than focusing only on access to financial products.
Training local communities to continue the program
The initiative also included a separate Training of Trainers session for personnel from municipal agriculture offices.
These local personnel are expected to help roll out the financial education program to more fishing communities across Batanes, allowing the lessons to reach beyond the initial group of participants.
The participation of the Batanes provincial government, six municipal governments, BSP, BFAR, and BDO Foundation reflects a coordinated approach to improving financial capability in communities that may have limited access to formal financial services.
Making every peso count
BDO Foundation President Mario A. Deriquito emphasized that financial literacy ultimately comes down to making better use of hard-earned income.
“Managing money is just like fishing — it needs preparation and caution.”
The comparison captures the practical nature of the program. Just as fishing requires preparation and careful decision-making, managing household finances requires people to plan where their money goes, build savings when possible, and prepare for unexpected circumstances.
BDO Foundation says its broader financial inclusion programs, implemented with BSP and other government agencies, cover topics including saving, budgeting, financial planning, investments, debt management, responsible credit use, entrepreneurship, scam prevention, and retirement planning. Fisherfolk, farmers, MSMEs, OFWs, and other underserved groups are among the program’s target beneficiaries.
For Batanes’ fishing communities, the Fish N’ LEarn program shows how financial inclusion can go beyond simply opening a bank account.
By combining financial education, practical exercises, and access to formal banking, the initiative aims to give fisherfolk the tools to manage today’s income while preparing for tomorrow’s needs.
