Bangkok, March 16, 2015 – The SEC provided a guidance to build up a lifetime of financial security among the Thais through the project called “Being Money-Wise for the Bright Future”. The Project will target the first jobbers to learn of personal finance for their lifetime of financial stability. In preparation for the approaching ageing society, the website www.moneywellplan.com, was introduced as an online money management consultant created by professional webmasters from Dek-Dee.com.
Vorapol Socatiyanurak, the SEC Secretary General, revealed that promotion of financial literacy and money management has been one of the SEC’s key policies, aiming to bring about financial stability and quality of life for the Thais. “Being Money-Wise for the Bright Future” project will provide a guideline for individuals to change their spending behavior and learn of effective financial planning. The Project will help create strong economic fundamentals at the household level which will impact the national level, eventually.
“It took the team over 8 months to analyze environment and financial behaviors of the Thais in preparation of this Project. From the data collected, it was clear that the Thais have not emphasized on financial management. Among those who have savings, only 25 percent of them have planned for their retirement and achieved the goal, indicating that for majority of the Thais, there is much room for improvement in the area of financial management. The economic impact of this issue is not only at individual level but certainly extends to national level. For Thailand, household debt level has reached 85% of the GDP while ageing society is approaching in that the retirees would exceed one-fifth of the population. If those retirees lack financial stability and ability to be self-funded, it would put much greater burdens and accordingly weaken the country economy,” Vorapol said. Untitled Document
The “Being Money-Wise for the Bright Future” project welcomes all the Thais to start their money management based on the followings: 1. Reducing expenses, 2. Saving before spending and 3. Allocating money for investment. Additionally, the SEC developed www.moneywellplan.com, to serve as an online money management consultant in order to reach out and thus support the first jobbers, to become conscious of money management at a young age. The website has been created by professional webmasters team from Dek-Dee.com and be ready to offer the online consultant services from now on. “The SEC aims to support the better quality of life and the opportunity to make investment grow for the Thais. Savings through bank deposits alone may not be adequate to achieve the financial goals while a variety of investment choices are available, such as investment in good real estate or investment in the capital market with proper understanding. Importantly, any investment must be chosen by taking into account the suitability and accurate understanding," concluded Vorapol.
