Leading life insurer Pru Life UK, in partnership with the Junior Achievement (JA) of the Philippines, recently conducted a pilot session on financial literacy at Putatan Elementary School in Muntinlupa City.
Joined by about 250 Grades 4 and 5 students with their parents, the Kaya na Challenge: Financial literacy program for families of Cha-Ching beneficiaries, aimed to empower communities by fostering financial literacy and independence among the youth.
Pru Life UK volunteers helped facilitate the learning session on the basics of financial literacy, which included budgeting fundamentals and identifying needs vs. wants. Participants learned how to spend and manage their money wisely by sharing practical tips and advice on spending.
“This new financial literacy program exemplifies Pru Life UK’s commitment to creating long-lasting positive social impact. By providing basic financial education, we aim to help communities nationwide make sound decisions on money matters,” shares Maricel Estavillo, Pru Life UK VP for Government Relations & Sustainability.
The initiative complements the award-winning Cha-Ching Program of Prudence Foundation and Pru Life UK with JA Philippines. Aligned with its mission to promote financial literacy among Filipino youth, Pru Life UK launched Cha-Ching as its flagship financial education initiative. By nurturing a generation equipped with the necessary skills to navigate the complexities of personal finance, Pru Life UK aims to foster a financially literate population.
Teodora Mortel, a single parent and mother of a Grade 5 student, shared, “As a single parent, sinigurado ko na habang bata pa lang ang mga anak ko ipinaliwanag ko na sa kanila ang konsepto ng pagtitipid at pag-iipon. Madalas ko silang sinasabihan na kahit sa simpleng pagtatabi ng natira nilang baon mula sa school ay malaking tulong na lalo na pag may kailangan silang bilhin sa paaralan o kaya naman para mabili nila ang mga gusto nila ng hindi na kinakailangan pa manghingi. Sa ngayon, lahat sila ay mayroong kanya-kanyang alkansya na ginagamit at tuwing pagtatapos ng taon ay binubuksan namin ito upang bilhin ang kanilang gustong gamit at ang matitira ay dinedeposito namin sa banko.”
Ramie Joy Marmol, mother of a Grade 4 student, added, “Bilang isang magulang, I am happy that kids nowadays have room for Financial Literacy. Noong kami kasi ang bata, wala kaming ganito and we were only told to save pero hindi talaga namin alam kung ano yung pinaka context at kung para saan. Kaya ngayon, I am very grateful kasi at a very young age, they will learn how to manage their money. Laking pasasalamat ko sa programang ito dahil mas maiintindihan ng aking anak at ng mga iba pang bata ang konsepto ng pagbubudget at pag save ng pera sa murang edad.”
As the program expands to reach more schools and communities in the Philippines, Pru Life UK remains steadfast in its commitment to championing financial literacy as a catalyst for socio-economic empowerment.