DepEd, Pru Life UK teach kids proper money handling
“Money does not grow on trees. It has to be earned before it can be saved, spent, or donated.”
This is a timeless advice which the Department of Education and private life insurance company, Pru Life UK, will soon introduce among Filipino school children aged 7 to 12 under the Cha-Ching Money-Smart Kids program.
Cha-Ching (derived from the sound of a money box or cash register) Money Smart Kids is the first fully integrated, multi-country, multi-platform learning module that helps parents build money-smart values for children across seven countries in Asia. It introduces four money management skills to kids – earning, saving, smart spending, and donating – using an edutainment approach that provides opportunities to begin practicing these values at an early age.
It will be piloted in Upper Bicutan Elementary School in Taguig City and in Tagaytay Elementary School in Tagaytay City and will initially run for two years. It is a corporate social philanthropy project of Pru Life UK enrolled under the Adopt-a-School Program of DepEd.
The agreement was signed by Education Secretary Br. Armin A. Luistro FSC and Pru Life UK president and CEO Antonio Manuel De Rosas.
Luistro said it is very important that children understand the value of money and how it is earned to have a better appreciation of this resource. “If a child appreciates at an early age that it takes hard work to earn money to buy things, save, or even share with others, he will have a valuable lesson which he can use through life,” explained Luistro.
“According to research, the average age in which Filipino kids start saving money is seven years old. About 98% of Filipino parents believe their children should learn money management skills, and only 19% think their children have adequate money management skills. These are some of the issues that Cha-Ching hopes to address. An effective financial literacy program should start from childhood,” said De Rosas.
Using fun, interesting, and catchy tools, the four core money management concepts will be explained to school children using a Cha-Ching Money-Smart Kids kit that includes a lesson plan, training for teachers, cartoon musical edutainment episodes in DVD plus work books and other school items.
The money management lessons are expected to be incorporated either in Math or Values Education subjects of Grade 2 students starting school year 2012-2013.
Cha-Ching Money Smart Kids is part of Pru Life UK’s Financial Literacy for the Youth Program. It is an off-shoot of the Cha-Ching musical edutainment series that was launched in seven Asian countries by Prudential Corporation Asia (PCA), Pru Life UK’s Hong Kong-based regional headquarters, in September last year. Cha-Ching was created in coordination with Dr. Alice Wilder, a renowned children’s education specialist and Cartoon Network, the region’s number one channel for kids.