rodrigo jiménez is a graduate of a
HIG school
a few years ago he was happy
because he managed to get a first job
they hired him in a call center in a
call center as
first monthly salary of 500 thousand
colones
I had never seen so much silver together
so he got excited and happy he started
socialize with his friends and he gave
mind that it was natural to have things
materials
for example a chozo of a smartphone or
a play station or dressing very well and
he realized that it was possible to obtain those
things through the credit got
three credit cards with three
different entities
after he got tired of the companies of
this country
riding a bus to walk in between that is not
from Miguel and then he visited a warehouse
and they financed a motorcycle with use of
motorcycle for various reasons
he began to realize these
wonders of credit and convinced
your dads why not take a
credit proposing as guarantee
room house and that way
solve another set of needs for
do not tire them with the story this case
Real de Rodrigo came to accumulate in a
short period of time
relatively short
about 30 million colones 60 times
plus your monthly salary to such a level that
the monthly payment for
Amortization for interest
he came to overcome
your income but the compendium that
there were also tools
rescue and how the salary is paid to
through a debit card went to
an ATM and there it was
account that he could use advance of
salary and with those salary advances
delinquencies managed to postpone it
already threatened as a collection issue
judicial
but of course the bicycle in some
moment it locked and rather increased
his debts in a million colones more
all this situation obviously brought him
a Rodrigo psychological consequences
consequences of that approach
consequences of low productivity
gastrointestinal problems and clear one
very big pressure on your family because
I was exposing say goods
fundamentals in your life
the thing was not sustainable and
unfortunately it is in judicial collection
and in a wage garnishment process
in this way that quite possibly its
employer following the policies
corporate will have to lay off
I say this because of a wage and salary embargo
according to the banking regulations of this
country someone who does not pay their debts or
that is sent to judicial collection
literally it becomes a corpse
in the formal financial system by
next four years
this situation of Rodrigo is a
situation that according to the
general superintendence of entities
financial matters transcends the situation
Rodrigo and they are one million 200 thousand
Costa Ricans many of whom today
accompanies us that they have debts with
the formal financial system on average
each of the Costa Ricans has
five credit operations and within
of domestic credit to the private sector
from this country
the personal credit of families and
others already represents 70 percent
that means 25,000 million
dollars that when one gets the average
per capita each of these debtors will
owes to the formal financial system 12
million colones what is more
worrying is that we all know there
also an informal financial system
there is no official statistics of how much
is the additional debt that the
households in this other type of credits
commercial or informal credits and
neither is there information on how many
families or how many debtors have
credit in that other activity
it does not matter what occupation you
will have future waiters
medical drivers of huber lawyers
sportsmen journalists
it does not matter what race we have blacks
Chinese white yellow cafes not
Brazilian nationality matters in
the Americans although it hurts me to say it
today Mexicans do not care about religion
let’s be Catholics, let’s be Jews, let’s be
Protestants or even atheists
we have all been trained to be happy
or is there someone here who wants to lift
hand and let me say I want to be unhappy
or as my 11 year old boy says 12
Dad years I do not wanna be luther
we all want to be winners all
we want to realize dreams we all want
excel in this earthly existence
either covering our needs
houses either having
studies either pleasure either vehicle
the issue is that at any stage of
our lives I can
or secure as well as death we’re going to
have all a common problem and
unfortunately it transcends
Central America in the world
what we have is a general situation
of financial illiteracy
we’re all going to have to do with the
management of silver
pisco as the Salvadorans say
wool flour
we’re all going to have to talk revenue
expenses and budgets saving debts
when a soldier prepares him for the
war
before sending it train coach him
they teach him that they are weapons
what are the risks to avoid
accidents as it is used to protect
of the enemy
The truth is that today we are in a
financial commercial war and to us
They do not train us, they do not teach us what
are those weapons do not teach us which ones
are its attributes do not teach us
what are the risks will tell us to the
war without further defense and hence my
proposal of an education theme
basic financial understood this as
a systemic process through which
first the teachers the educators and
after families the students
they understand that they are the products
financial
what are its characteristics and
risks have for what then when
have to make revenue decisions
expenses saving investment are decisions
better informed
it’s not that the financial products are
bad but everything has to be handled
with caution to avoid this
type of Rodrigo unfortunately
our Central American citizenship
at most what you have is an analysis
cash flow technician
how much does it cost me when what I have
that I pay biweekly or weekly or
monthly
and compared it with income and one what
you say in reach me the game do not have
the ability have not taught us to
understand the price of money a lot
less what is the interest rate
effective real that they are charging me in
that funding and therefore it
ends up paying several times more than
purchase value causes this problem not
it’s a problem the Ticos is not a
problem of the Catalan catrachos that
today we are going to win it is not a problem
in general overall
there is a study of the voice and of for
Latin America that says only 30
percent of the population
Latin American understands the concept of
simple interest rate not even
composed that a minority percentage
of our population has the ability
to calculate what the effect of
loss of purchasing power by a
widespread increase in prices
known inflation about the salary that
less than 20 percent of the population
Latin American has made the calculation of
how much do you have to save today from your
salary to get to retire
worthily
I can assure you all we are going to
make old we are all going to need a
pension
I do not know if the subject is common for
you but in my house that manages the
silver money is my wife and I would say
in that study of the voice the 99 is given
percent of households
Latin American who manages the
family budget are women
but the study unfortunately
shows that they are the ones that have the
lower financial formation
but also the study shows that
the lower the income level of
older households their ignorance
financial
here is a study of the association
recent Costa Rican banking
he asked the citizens if he had
savings instruments only 50 per
hundred of the families surveyed said
have a current account and an account
of savings a certificate in the system
formally and when asked by
credits only a 33 said to have a
banks 33 percent said having them in
the warehouses and 33% of the Ticos said
have them in the informal sector
if one goes the income survey and
expenses of homes that the institute does
national statistics and censuses arrive
to the lowest income decile households
low
to say of higher income results
that in the first decile live more than 600
thousand Costa Ricans for every 100 colors
of income these people spend 138 or
who permanently live in grief
financial live in debt
on the contrary in the income decile
highest per 100 income
it turns out that those families hardly spend
be conscious have golden ability
of course the bankers are killed is killed
that is why families go cables or
be that the same system is a circle
vicious because it excludes families from
lowest income
the economy is a subject of numbers and
above all finances but I learned that
behind each number there is a face
social there is a human face
this topic transcends the numbers that you
kill and instability implications
social and even instability
policy someone unemployed someone
over indebted as the case of Rodrigo
or someone suffering a process of
eviction or eviction from your home or that
the vehicle is definitely taken away
no matter how many robots he has problems
minimum psychological problems of
Anxiety Anxiety Problems
even in quotes of violence
domestic divorces and unfortunately
the world health organization
public
or a study that shows that after
of the global financial crisis of the year
2008 2009 the global suicide rate is
multiplied by three and is the second
cause of global death at the level of
young people from 15 to 24 years old
said all this because I accordingly
I have a humble proposal what I wanted
is to try to openly take this
problem that sometimes we do not want
reveal it to say this is a problem
country
your region problem therefore
It should be as it already is in Mexico and
Colombia part of the national plan for the
country development
in the second place my proposal obviously
leads to that as they teach us
Spanish teach us social studies
financial education has to be
Compulsory subject matter does not matter
private or public has to be matter
mandatory at least at the level of
third colleges do not serve the patches
there were individual experiments
this has to be a solution
integral that brings government through
of the Ministry of Public Education
financial regulatory authorities and
commercial financial bidders
they also have to be part of the
solution of this process
finally having been of that
side I think is fundamental
limit the maximum level of
indebtedness that a place can have
finally I do not believe in the solutions
from ceilings to prices to rates of
interest
solutions that sounds very nice but that
in the end it is shown that they end
excluding precisely families
who need it most and ends
borrowing at interest rates more
high what I propose is a law of
Good practices of good behavior
that all participants are forced
make transparent to give the
information even that the customer
check
they told him that that product has these
characteristics and has these risks and
if that entity that cheats that is
can show that it was not transparent
monetary fines and in the case of
sales executives or sellers
commercial as it exists in the stock exchange
values
it is shown that it was
Negligent or cheated on his client
loses his life sale license
they can not remain irresponsible
finally to most of those who
they are here that in the particular case
Costa Rica and the millennials and
sentences are 66% of the population
Costa Rica is run educate
financially speaking, take care
said our grandparents
the 5 because we do not want more rodrigos in
Central America
thank you very much
[Music]
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