How Filipino families can get started on financial literacy
MANILA, Philippines — Raising children to be financially smart can be a challenging task for parents, especially in the middle of a worldwide crisis.
As part of Pru Life UK's We DO Education commitment to help Filipinos be money smart, the "Cha-Ching Kid$ at Home: Financial Literacy Basics for Filipino Families" webinar was recently held.
Multi-awarded Ateneo professor and author Dr. Queena Lee-Chua during the event shared tips on introducing money concepts to kids and encouraged parents to normalize lessons about monthly bills, exchange rates, or distinguishing between needs and wants when kids are older.
"Parents and teachers are the best role models. If we don't practice what we preach, it will be absorbed by our kids," Lee-Chua said.
Meanwhile, Multiple Intelligence International School founding directress Dr. Mary Joy Abaquin guided parents through the concepts of financial and fiscal responsibility, saving and investing, and responsible consumerism by making smart spending choices.
“Financial freedom is a mental, emotional, and educational process that all of us have to go through. As parents and teachers let us take an active part in giving our kids this lifelong gift,” she said.
Where to begin
Parents can access the Cha-Ching Kid$ at Home modules online, including parent guides and daily challenges that teach their children the four basic money management concepts: Earn, Save, Spend, and Donate. Modules come with hands-on activities and music video links.
Hosted by children's show TV personality Tonipet Gaba and Pru Life UK's Mary Jane Pangan, the webinar was attended by almost 700 parents and children across the country.
The virtual event also featured interactive money-related games for children. Winners received P500 gift cards and exclusive Cha-Ching comics, with one lucky attendee given a brand-new tablet.
“Pru Life UK’s advocacy of financial literacy applies to kids as much as it does to parents. We introduced the Cha-Ching Kid$ at Home webinar because we believe in starting the journey to financial wellness at a young age. It provided an avenue for parents to teach their kids essential life skills like money management in an engaging way,” Pru Life UK Senior Vice President and Chief Customer Marketing Officer Allan Tumbaga said.
