THE new government is serious in the fight against illegal drugs and its apparatus. Since May, it has waged an extensive war against in tandem with the various government agencies. These measures brought real change everywhere and hug the headlines daily. As of this writing, more than 25,230 drug pushers and drug dependents have surrendered to the police in Metro Manila since the government started the war on drugs, and 465 have been killed since the inauguration of President Duterte, according to CNN Philippines. Here are the critical reasons the national drug-rehabilitation centers all over the country should have financial coaching.
- Money serves as a trigger
President Duterte in his speech said 3.7 million Filipinos are drug addicts, dependents or pushers. The treatment and rehabilitation center in Camp Bagong Diwa has 1,500 male and more than 150 female patients. This number will increase every month if no solution is found. Surprisingly, a majority has the money and will do whatever it takes to buy and sell illegal drugs. Lack of self-awareness is causing them to hurt themselves whenever they have extra funds. If we want them to be financially responsible, financial coaching programs inside the facility will help them handle their personal finance once they exit the facility. Coaching will also help them understand the opportunity presented to regain their self-worth.
- Transform lives
The willingness to do the right thing is like a muscle that needs to be stretched and that’s what they need to work inside the rehabilitation center. Having money is essential to all the patients and the biggest test will be when they’re finally done with the program. Financial coaching that focuses on rebuilding, regaining and improving their lives will put them on the road to full rehabilitation. It should also give them a solid structure to strategically accomplish the things they want to do and be financially sustainable.
- It can serve them long term
TO be successful financially, one needs a support group or an accountability partner. Major studies show that having someone watching over you will greatly affect your performance. That’s the reason in some of the finest cable shows, like Weight Watchers and The Biggest Loser, 90 percent of participants lose a lot of weight and experience tremendous change. Of course, there are setbacks, like when they’re finally out in the open and some of them lose focus and end up being obese again. The same thing applies to the financial life of every drug addict and dependent to prevent a relapse. Financial coaching brings a support system that will call out the bad deeds and reward good behavior.
- They need tour guides
AS a financial planner, the goal is to help the patients prepare for the future and to constantly encourage them. There are patients who are clueless and have a severe form of depression, while some are high-profile patients but down to their last money. But I discovered the problem is not the lack of funds but the lack of vision that eventually leads to disaster. Teaching them to properly allocate funds, such as creating an emergency fund and becoming an entrepreneur, will give them the edge to regain the lost opportunity they had.
- All patients want to be successful in the outside world
Most would like to live in comfort and contribute to the outside world, but having so much money while financially illiterate put these patients to so much risk. They follow a certain routine inside the facility and follow instructions to get back on track. Financial literacy programs provide them the bigger picture what to see or expect three to five years down the road.
- They can refocus with the right passion
Greed is internal and that’s why patients may revert to the old unhealthy habits. While most have the internal desire to change, they remain focused in the past, like generating easy money and have more of them. Having an effective financial program, however, should give them a storm-proof life that focuses not on the love of money but managing it.
David Isaiah E. Angway is a registered financial planner of RFP Philippines. To learn more about personal financial planning, attend the 56th RFP Program this August 27 to October 15 to inquire, e-mail info@rfp.ph or text <name><e-mail><RFP>at 0917-9689774.