Financial literacy is a critical tool for personal empowerment, equipping individuals with essential skills in money management, budgeting, and investing to make informed financial decisions and secure their future.
However, recent statistics from the Bangko Sentral ng Pilipinas (BSP) reveal a concerning state of financial literacy in the Philippines, with only two in 10 Filipinos scoring perfectly on basic financial questions and just 25% understanding fundamental financial concepts, according to the World Bank. This underscores the urgent need for enhanced financial education, especially among the youth.
As part of the International Youth celebration, Pru Life UK is igniting a vital conversation on fostering financial responsibility from a young age.
Through its Cha-Ching program, created by Prudence Foundation, the community investment arm in Asia and Africa of Prudential plc, Pru Life UK’s parent company, in partnership with Junior Achievement Philippines, Pru Life UK is leading the charge in instilling financial literacy in Filipino children aged 7 to 12.
Cha-Ching is an innovative financial education program featuring animated, music-based cartoons created in collaboration with Cartoon Network Asia and Dr. Alice Wilder, an Emmy award-winning Children’s Educational Specialist.
Cha-Ching also encourages parents to play an active role in their children’s financial education. With online resources and fun, educational activities, parents can reinforce the financial concepts their kids learn in school.
This year, Cha-Ching reached a significant milestone, educating one million students nationwide on basic money management skills.
In today’s rapidly evolving world, financial literacy is not just a skill but a necessity for the youth. By equipping young Filipinos with the knowledge and tools to make informed financial decisions Pru Life UK lays the foundation for a more secure and prosperous future.
Pru Life UK remains committed to empowering Filipinos with accessible health and financial solutions, ensuring that they not only have the tools but also the knowledge to confidently navigate their financial futures.