Citing a World Bank study which found that only 2% of the Philippine population is financially literate, a company called Praxis has launched a “financial gym” where Filipinos can learn how to make smart financial decisions.
The company takes its name from Praxis, a “financial literacy solution that focuses on enabling financial literacy and education through gameplay.”
Praxis was developed in Singapore and serves as an activity to “teach people how to effectively manage their money to prepare for their own financial freedom.”
The unique and effective engagement and learning tool is now being utilized in educational institutions, financial services companies, government organizations and other leading companies in Singapore, Thailand, Malaysia and the Philippines.
In a recent media event held at the newly built Praxis Financial Gym, attendees got the chance to experience the Praxis Gameplay and got a jumpstart in managing their personal finances through a fun and interactive learning experience that inspires people to take action at the Praxis Financial gym.
Praxis can be customized to its specific audience, whether for students as part of their class, for companies’ employee wellness programs, or for financial institutions’ recruitment and training sessions or for their sales and customer engagement.
Each Praxis Gameplay is facilitated by a certified Game Master directing its flow and announcing realistic “Breaking News” such as health scares, drastic changes in stock prices, and other news bits players need to make decision about their money.
“We’d like more people to visit the Praxis Financial Gym to help in promoting financial literacy by letting them experience financial challenges and learn critical information that will help them fulfill their financial dreams,” said Mari-an Albert, Praxis Philippines CEO.
“Just like in a regular gym where customers can access trainers to guide them on their workouts, here, at the Praxis financial gym, licensed financial advisers can partner with Praxis to guide people and help master money. This gym tones your money muscles for life,” Albert said.