Issue link: https://maltatoday.uberflip.com/i/1357762
4 NEWS 1.4.2021 Learn healthy financial habits ALBERT Einstein once famously said that, 'Once we stop learning, we start dying.' I tend to agree, but I've also come to realise that learning isn't just about reading, writing and arithmetic; and it's also not only about getting a universi- ty degree. Over the course of a lifetime, we learn many invaluable skills includ- ing how to cook, the right way to clean glass panes, how to change a tyre, and – why not? – how to draw the perfect winged eyeliner. Yet one thing we essen- tially stop learning about is money: how to make it, how to save it, and how to spend it seem to baffle most of us. To many, including myself, the way we handle money is simply a continuation of how we saw our parents or guardi- ans handle theirs when we were young. We saw their spending habits and the way they saved, and we recreated those patterns. But the problem with that is that our knowledge on money never grew and we simply didn't realise that the world of finances was evolving all around us and leaving us behind. How many people outside of the in- dustry can explain what stocks and bonds are, for example? How many know the right percentage of their wage they should be saving in order to be financially covered by retirement age? What are cryptocurrencies exact- ly? And how does one keep an account book to monitor their spending? Before the pandemic hit, the Malta Business Bureau (MBB) and the HSBC Malta Foundation had joined forces to create one-to-one mentoring sessions and workshops to help those signing up learn all about money matters. ose plans, like much else at that time, had to be put on hold, but it actually bene- fits us all, as those workshops have now evolved into a mini-series of videos that anyone can watch and learn from. Using animation and filmmaking tech- niques, the result is a four-part series that aims to teach viewers about creat- ing a business plan; differentiating be- tween a balance sheet, an income state- ment and cash flow statement; building a savings plan; and distinguishing be- tween stocks and bonds. Nevertheless, I think that the best part of the videos is that their point is to ed- ucate rather than to get you to invest or place your savings in one bank over another. e aim, as both the represent- atives of MBB and HSBC pointed out, is to get people to understand what it all means so that they can make better in- formed decisions about what to do with their money in the short term and in the long run. Now, you may be thinking that such things have been done before by You- Tubers all across the internet. Yet the difference in this case is that you don't need to question the credentials of the person delivering the videos. Indeed, you can rest assured that the informa- tion provided is accurate and genuine as it's been compiled by experts in the field who have studied these topics and use this knowledge in their work on a daily basis. Even better than that, the information, while accurate, is delivered in a way that even teenagers with no prior knowledge in such matters can understand the key points and learn to be better with their finances. And this is crucial, as under- standing how money works from an early age will give them an advantage in both their careers and their personal lives. e importance of having such knowl- edge, particularly after a year in which businesses large and small had to close their doors and learn to operate with shrinking finances, is indisputable. While the reverberations of global or national events can never be fully con- trolled, planning for the worst possi- ble scenario could mean the difference between keeping afloat or sinking. As always, the buoy is money, so under- standing it and using it wisely is essen- tial. So, with that in mind, there's nothing left but to recommend watching the mi- ni-series, which will be available on You- Tube and Vimeo, as well as HSBC Malta Foundation's and MBB's social media pages. ey're free, you can watch them anytime you want and as many times as you want, and you've got nothing to lose and healthy financial habits to gain. e first episode of the mini-series un- der the INVEST+ project will drop dur- ing the first week of April, with the rest of the episodes being made available over the course of the month at weekly intervals. Iggy Fenech has been given a preview of MBB's and HSBC Malta Foundation's latest initiative under the INVEST+ project: a mini-web series that aims to teach people how understanding money is key to making it work for them THE Foundation for Human Resources Management has a new Board of Directors elected during the FHRD's biennial general meeting held online on the 10th of March, 2021. e elected members are Claudine Attard (PWC Malta), Jackie Attard Montalto (Atlas Insurance PCC Ltd), Mark Bugeja (Nectar Group), Michelle Fenech Seguna (Westin Dragonara Resort), Peter Gatt (APS Bank plc), Victoria Meli Crosby (Credorax Bank Ltd) and Matthew Naudi (Allied Group). During the first board meeting of the newly elected board, Matthew Naudi was confirmed as President for the period 2021 - 2023 while Michelle Fenech Seguna was again appointed as Vice-President. Naudi is currently Chief HR Officer at Al- lied Group. With over 12 years' experience in HR, and more than 30 years' experience in the local news media industry, Naudi hopes that together with the rest of the board, the Foundation will continue to spearhead the evolution of people management and devel- opment practices as well as the human re- sources profession in Malta. e Foundation hopes to constantly increase the quality of human resources in Malta and be a home for all HR professionals on the island. Among the new initiatives being proposed is the creation of a new FHRD membership structure with various grades of membership with the aim of recognising HR executives for their skills and abilities and for their com- mitment to the highest levels of profession- al standards, either through their academic qualifications or through their experience. is will complement the successful FHRD HR Quality Mark which was launched last year to give organisations of all types and siz- es the opportunity to have their HR function and practices nationally recognised. Other initiatives currently organised by FHRD include HR-related courses ranging from Level 5 Awards up to Doctorate lev- el; the organisation of various networking activities and events culminating in the re- cord-breaking FHRD annual conference. New FHRD Board elected