As a parent, I understand the importance of teaching children about money from an early age. When my daughter turned two, I started introducing her to the concept of money by encouraging her to save loose coins in her piggy bank.
On her third birthday, we embarked on an exciting journey together. We visited the COL Financial office at the Philippine Stock Exchange Tower in Ortigas, where we opened her very first stock market account.
From there, I continued to educate her about Philippine denominations and taught her how to budget using the 3S formula: Sharing, Saving, and Spending.
I emphasized the distinction between needs and wants, taking her along to the supermarket and wet market. Together, we created grocery lists and checked off items as we shopped. I involved her in the payment process, allowing her to hand over the money and count the change.
Furthermore, I made sure she understood that money isn’t just handed to us; we have to work for it. If she wanted something, she learned to rely on her own money. If her funds fell short, she found creative ways to earn money, such as selling bookmarks.
Along the way, I reminded her that while money is important, it’s not everything. It’s a tool that enables us to have the things we need and want, as well as contribute and share with others, leading to a happy and fulfilling life.
Cha-Ching: Empowering the Youth with Financial Literacy
The Cha-Ching program, developed by Prudence Foundation in collaboration with JA Asia Pacific and JA Philippines, has made significant strides in promoting financial literacy among Filipino youth.
Cha-Ching’s impact on financial literacy education in the Philippines has been remarkable. The program has received prestigious accolades, including the Silver Asia-Pacific Stevie® Award in 2021 for Innovation in Community Relations or Public Service Communications and the Money Awareness and Inclusion Awards in 2022.
Looking ahead, the renewed Cha-Ching program has set an ambitious goal: to reach one million students and 28,000 teachers nationwide.
This reflects the unwavering commitment of Prudence Foundation, Pru Life UK, JA Asia Pacific, and JA Philippines to become pioneers in financial literacy education for the youth.
Eng Teng Wong, President and CEO of Pru Life UK, expressed his excitement about the Philippines being the first country to reach one million students with the Cha-Ching Curriculum by the school year 2023-2024. This milestone highlights their purpose as partners for every life and protectors for every future.
Getting to Know Cha-Ching Curriculum
Last year, Prudence Foundation successfully launched their one-of-a-kind financial literacy online game, Cha-Ching Money Adventures (CCMA), globally.
CCMA is an interactive online game and a dynamic learning platform designed to equip students and teachers alike with vital money management skills while making learning an enjoyable experience.
Aside from the interactive gaming design and interface, CCMA also reaches out to the typical student by playing through 4 different distinctive modules: “Hometown” for Earn, “Mallsville” for Save, “Las Races” for Spend, and “Rockability Rivers” for Donate.
These modules engage students in the fundamental Cha-Ching concepts: Earn, Save, Spend, and Donate, all while earning points, learning, and having fun.
Making a Difference through Cha-Ching
Through curriculum integration and CCMA, Cha-Ching continues to revolutionize financial education, making it enjoyable, comprehensive, and accessible. It fosters a positive attitude toward money, empowering students to make sound financial decisions for a brighter future.
“Teaching kids financial literacy at an early age is not just important; it’s absolutely vital. It’s like giving them a compass for life, giving them proper reference as they navigate real life. By instilling these skills early, we anchor them with the knowledge needed to navigate the complex financial world confidently,” said Jed Velarde, Stock Market Investment Advocate and the Head of Partnerships at COL Financial Group, Inc., during the launch event.
Cha-Ching continues to change the narrative that only adults can handle money and shifts it to the belief that students can also make financially sound decisions for today and the years to come.
I am grateful to have had the privilege of attending the relaunch of Cha-Ching, where I witnessed firsthand the mission of Cha-Ching and met the passionate people behind JA Philippines, Prudence Foundation, and Pru Life UK.
During the event, I also had the opportunity to meet Rose Fres Fausto, also known as FQ Mom, who shares the same advocacy of teaching financial literacy to children.
I’ve been following her for years and have read all her books, including “Raising Pinoy Boys” and “FQ or Financial Intelligence Quotient,” and it was a delight to receive a signed copy of her latest book, “The Psychology of Money.”
Her statement that the best way to learn is to teach has inspired me to continue learning and incorporate her concepts into my talks and content.
I am also glad to have met Fitz Villafuerte from the Ready to be Rich blog, a fellow advocate in teaching financial literacy. The experience was truly amazing and close to my heart.
As parents, educators, and members of society, it is our collective responsibility to mold financially literate individuals who can thrive and contribute meaningfully to their communities. Let us join hands and support initiatives like Cha-Ching as we strive towards creating a brighter future for our children, where financial literacy is a cornerstone of their success.