Children aged 7 to 12 learn about Cha-Ching’s money-smart concepts, instilling financial literacy among the Filipino youth
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.
About Pru Life UK
Established in 1996, Pru Life UK
is the pioneer of insuravest, or investment-linked life insurance products, in
the Philippines and is one of the first life insurance companies approved to
distribute US dollar-denominated investment-linked life insurance policies in
the country. Since its establishment, Pru Life UK has expanded its reach to
over 170 branches and general agency offices in the Philippines, with the
largest life insurance agency force with more than 38,000 licensed agents.
The company ranks #1 for New
Business Annual Premium Equivalent and Total Premium Income from Variable Life
Insurance Products according to the Insurance Commission’s Life Insurance
Sector Quarterly Statistics for Q1 2024. Pru Life UK is headquartered in Uptown
Bonifacio, Taguig City.
Pru
Life UK and Prudential are not affiliated with Prudential Financial, Inc. (a
company whose principal place of business is in the United States of America),
Prudential Assurance Company (a subsidiary of M&G plc, a company incorporated
in the United Kingdom), Philippine Prudential Life Insurance Company,
Prudentialife Plans, Inc. or Prudential Guarantee and Assurance, Inc. (all
Philippine-registered companies). Pru Life UK is a life insurance company and
is not engaged in the business of selling pre-need plans.
For more information: www.prulifeuk.com.ph
About Prudence Foundation
Prudence Foundation is the
community investment arm of Prudential in Asia and Africa. Its mission is to
secure the future of communities by enhancing education, health and safety. The
Foundation runs regional programmes as well as local programmes in partnership
with NGOs, governments and the private sector in order to maximise the impact
of its efforts. Prudence Foundation leverages Prudential’s long term mindset
and geographical scale to make communities safer, more secure and more
resilient. The Foundation is a Hong Kong registered charitable entity.
For more information please visit: www.prudencefoundation.com
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