DepEd, Pru Life UK team up for money-smart learners

To better capacitate teachers in inculcating money management skills in learners, the Department of Education (DepEd) and the Pru Life Insurance Corporation of U.K. (Pru Life UK) recently conducted the 3rd Cha-Ching Educators' Conference on Financial Literacy.

Anchored on the theme Building on the gains of Cha-Ching: Institutionalizing financial literacy in basic education, the one-day conference aims to build a community of financial literacy educators; deepen the knowledge of the participants about financial literacy; help them build on the gains of the past years; and enable them to showcase new multi-platform strategies to efficiently integrate smart money management concepts in lesson plans.

The said event was attended by various public and private sector advocates of financial literacy, including Atty. Tonisito Umali, DepEd's Assistant Secretary for Legal and Legislative Affairs; Norman Cualteros, Lead Policy Officer of the Office of Senator Paolo Benigno Aquino; Shayne Rose Bulos, Officer-in-Charge in Microinsurance of the Insurance Commission; Prof. Edwin Suson of the University of Santo Tomas; Bernadee Uy, Social Enterprise Manager of the British Council; and Shanonraj Khadka, co-founder of Gawad Kalinga Enchanted Farms.

In his welcome remarks, Umali reiterated the importance of being financially literate and helping both learners and educators effectively champion the money-smart values not only in classroom, but also in their daily lives.

"I'm very happy about Cha-Ching, as well as Pru Life UK, for being active in promoting financial literacy among children. We have already started taking on the challenge of instilling money smarts among our youth, and this makes me excited about a more financially literate Philippines," Umali said.

This year's conference welcomed the addition of 17 public schools and four private schools to the roster of 76 partner institutions implementing financial literacy lessons under Pru Life UK's Financial Literacy for the Youth program.

Evaluation showed that students under the Cha-Ching program displayed an immediate change in their money management practices, such as prioritizing savings and exploring entrepreneurship as a viable option for earning.

The same has also been observed with the financial skills of the teachers, as more of them apply the money-smart lessons to their own personal finances. Overall, 100% of teachers and principals who have implemented the Cha-Ching program said they would continue to implement it and recommend it to other schools.

Umali emphasized that teachers must embody all the teachings about the Cha-Ching program in their lives in order to best achieve its objectives. "If our teachers have a personal understanding and expertise about financial literacy, they can make the delivery of the Cha-Ching program more efficient and interesting for learners," Umali added.

The Philippines is the first country to integrate Cha-Ching in the grade school curriculum, following the signing of a Memorandum of Agreement between Pru Life UK and DepEd in April 2012 for the integration of the Cha-Ching Financial Literacy for the Youth Program in the Grade 2 curriculum.

Cha-Ching is the first multi-country, multi-platform program which teaches children about the four key concepts of money management - Earn, Save, Spend, and Donate - and uses an integrated learning approach, featuring music videos, conceptual discussions, in-class activities, and take home materials in each session.

Source: Philippine Information Agency

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