Tuesday, September 3, 2024

Empowering Next-Gen Financial Literacy

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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