Andres Ignacio Gonzalez

Most of the important financial decisions consumers will make during this economic climate are being made without experience and guidance, said Andres Ignacio Gonzalez, senior account manager, MasterCard Worldwide.

Gonzales said this as the international credit card company rolled out its consumer education Web site, Smart Consumer, to the Latin America and the Caribbean region to educate consumers on financial management. The Web site appeals especially to a young contemporary audience who utilises social networking sites. Gonzalez said the site would provide consumers with the tools they need to become financially savvy and take control of their economic future. “It is a robust educational platform which offers user-friendly tools to assist consumers understand the general principles of finances, foster responsible spending habits, learn how to better manage personal finances and become responsible users of debit cards. “There has been an explosive growth with the use of the social networking sites and, as a result, it has become more important for businesses and individuals,” he said.

Gonzalez said in order for businesses to have long-term success, they must maintain relevance in today’s market and remain socially active. The programme’s financial advisers would interact with consumers and give guidance on different financial topics via blogs, podcasts and other social networking sites like Facebook, Twitter and Orkut, he said. He said consumers in the region could also follow the latest updates from the Smart Consumer programme by using the social networking sites. Gonzalez said the site features new animated capsules, featuring the Smart Consumer family, who present and resolve real financial dilemmas.

“These animated capsules would educate consumers on proper spending, saving or investing and creating a healthier financial culture. He said the Web site was also uniquely tailored to the language and local interests of the visitor.” “We are living in a digital revolution and the use of plastic cards are becoming more popular. Therefore, financial institutions have a responsibility to empower consumers to be an architect of their own finances,” Gonzalez said.