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SEC joins alliances to launch Thailand?s first financial reality program ?THE MONEY?



Thursday 11 December 2014 | No. 176 / 2014



Bangkok, December 11, 2014 The Securities and Exchange Commission, Thailand (SEC) and alliances comprising the Bank of Thailand, the Office of Insurance Commission, the Stock Exchange of Thailand, the Thai Bankers ' Association, the Association of Thai Securities Companies, the Association of Investment Management Companies, the Thai Financial Planners Association, and True Corporation Plc. launched Thailand?s first financial reality show ?The Money?. The show emphasizes on financial knowledge, especially personal finance, to Thai people across the country and thus bringing about better understanding on how to effectively manage their own money and make their own financial plan. To be broadcasted on TRUE4U Digital TV, the show is now taking applications and will select 12 participants to compete in the final round for the winning prize of one million baht.

Vorapol Socatiyanurak, SEC Secretary-General said that the survey by the National Statistical Office showed that 41% of the respondents had yet started saving money for their retirement. Furthermore, financial behavior survey indicated ?5 Lacks? as follows: (1) Lack discipline to track  spending that caused the household debt rose to 83% of the GDP; (2) Lack money management skills; (3) Lack ability to drive the country productivity growth as aging society is approaching; (4) Lack retirement savings resulted from insufficient savings and investments; and (5) Lack serious concern on this matter because most of the people do not make any financial plan and are not aware of future problem. As the Thai capital market supervisory body, the SEC has been well-aware of this urgent agenda and therefore sought collaborative actions from all parties under the project ?Financial Literacy: Road to Thailand?s prosperity? to kick off the first financial reality show ?The Money? to promote better understanding on personal financial management among Thais, leading to improved financial behavior. The SEC wishes to help create financial and investment culture for economic well-being among Thais: ?Save first and spend afterwards? and ?Allocate savings for proper investments?.

?The Money? is a reality show that follows 12 participants drawn from nationwide audition. Each week, each participant has to complete different financial missions from the judges, comprising Vera Theerapat, financial expert and another guest star. The participants must design their own financial plan based on five financial codes: setting goal, making money, tracking expenditures as well as learning to save and to invest in order to increase prosperity, financial freedom and achieve their goals. The financial experts will guide and educate the participants about personal finance, debt management, saving and investment suitable to their profiles. Then, the participants must plan and adjust their financial behavior by reducing expenses and increasing incomes for three months. The winner of each week will get 100,000 baht and the final round winner will receive 1 million baht prize.   

Naetchanok Wipatasinlapin, Managing Director, True4U Station Co. Ltd., said, ?we are glad to be a part of ?The Money? sponsors as this is another milestone of financial regulators? integrated efforts in educating Thai people through financial reality show. The program also matches the channel?s concept of ?serving you beyond entertainment,? aiming for new generation audiences to effectively spend their money, achieve their goal and realize the importance of financial plan which lead to financial freedom and success in life.?

Anyone interested to join ?The Money? can submit the application form until January 31, 2015. For more information, please visit ww.themoneythailand.com. From Saturday, March 21, 2015, the show will be aired on True4U Digital TV (True Vision Channel 2 and 34 / PSI Channel 4 / TV Digital Channel 24 / Satellite and cable TV Channel 34 or via application True4U and True Plookpanya Channel on TrueVisions channel 6.