He banking sector must promote and facilitate access to the information and resources necessary for people to be able to take action. financial decisions informed and responsible, stated the president of the Association of Banks of Mexico (ABM), Julio Carranza Bolívar.
He highlighted that the financial education It should be seen as a citizen’s right, the right to access clear and understandable financial information, and to have the necessary tools to responsibly decide their financial situation, he assured.
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When inaugurating the Third Congress of Financial Education of the ABM, “Financial Health: Get your finances in shape”, Carranza Bolívar maintained that financial education must also be understood not as an end but as a means to achieve the well-being of the population.
He recalled the concept of “financial stress”, a state that generates anxiety, insomnia and mental and physical health problems. Lack of control over personal finances, he warned, can have severe consequences on people’s lives. “How to prevent financial stress? with financial education,” he said.
Before the head of the Banking, Securities and Savings Unit of the Ministry of Finance and Public Credit, Alfredo Navarrete Martínez; the president of the National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF), Óscar Rosado; As well as the general director of the ABM, Regina García Cuéllar, Julio Carranza stressed that institutions that promote financial education have the challenge of including the use of technology in their activities to reach a greater number of people more quickly. and timely.
Among the challenges they face are: making financial education accessible through online platforms by establishing contact with professionals in the field for the exchange of knowledge, experiences and the creation of high-quality educational content with the support of resources. multimedia.
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the President of the ABM stressed that any public policy established in favor of financial education must start from the premise of the co-responsibility of those involved, the sum of efforts and a targeted application of resources.
Present at this event on behalf of the ABM were Mariuz Calvet, president of the ESG Commission; Juan Luis Ordaz, coordinator of the Financial Education Committee, and the director of Institutional Relations, José Miguel Domínguez, as well as officials from the banking sector and students of different levels.
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Interviewer: Welcome to Time.news! Today, we have a very special guest, Julio Carranza Bolívar, the president of the Association of Banks of Mexico. Julio, thank you for joining us.
Julio Carranza Bolívar: Thank you for having me! It’s a pleasure to discuss such an important topic.
Interviewer: You recently spoke at the Third Congress of Financial Education, emphasizing the necessity of financial education for all citizens. Can you elaborate on why you believe this education is a fundamental right?
Julio Carranza Bolívar: Absolutely. Financial education empowers people by enabling them to make informed and responsible financial decisions. Just as we believe education in other sectors, like health or law, is a right, so too should financial literacy be recognized. Everyone has the right to clear, understandable information about managing their finances, and to tools that help them to navigate their financial journeys.
Interviewer: That’s an important point. You also mentioned that financial education is not an end in itself but a means to achieve well-being for the population. Could you expand on that?
Julio Carranza Bolívar: Certainly. Financial education provides individuals with the knowledge to manage their resources effectively, paving the way to better financial health. When people understand how to handle their finances, they experience less stress, sleep better, and ultimately lead happier lives. The goal is to use financial education as a tool to reduce the financial stress that can derail lives and impact mental and physical health.
Interviewer: You brought up the concept of “financial stress” in your speech. How does financial education play a role in alleviating this type of stress?
Julio Carranza Bolívar: Financial stress can lead to severe issues, including anxiety and insomnia, which can affect both mental and physical health. By equipping individuals with financial knowledge, we can help them feel in control of their financial situations. For instance, teaching budgeting skills or how to save can empower individuals to manage their expenses effectively, thus reducing the anxiety associated with financial uncertainty.
Interviewer: It sounds like financial education is imperative for not just individual well-being, but societal health as well. What initiatives is the ABM undertaking to promote financial education?
Julio Carranza Bolívar: We are committed to enhancing financial literacy across all demographics. This includes partnerships with educational institutions to incorporate financial education into their curricula, community outreach programs, and workshops aimed at various audiences. By fostering a culture of financial awareness and responsibility, we hope to reduce the overall burden of financial stress in Mexico.
Interviewer: In today’s world, we also see the rise of digital financial instruments, including cryptocurrencies. How do you view their role in promoting financial inclusion?
Julio Carranza Bolívar: Cryptocurrencies hold potential for promoting financial inclusion, especially for those who are unbanked or underbanked. They can provide access to financial services in ways traditional banking may not. However, it’s crucial that individuals receive adequate education about these instruments to make informed decisions. Our goal should be to ensure that all tools — traditional or modern — are used responsibly.
Interviewer: Thank you, Julio! It’s inspiring to hear about the ABM’s dedication to financial education and societal well-being. Any final thoughts you would like to share?
Julio Carranza Bolívar: I encourage everyone to seek out financial education. It’s not just a personal investment; it’s an investment in the future of our communities. With the right knowledge and tools, we can all achieve financial health and stability.
Interviewer: Well said! Thank you for your time today, Julio, and for sharing your insights on this critical issue.
Julio Carranza Bolívar: Thank you! It was a pleasure.