Last September 12, 2020, Pru Life UK hosted another PRUWise webinar, entitled Cha-Ching Kid$ at Home: Financial Literacy Basics for Filipino Families. The expert-led and fun-filled webinar aimed to teach both parents and children the building blocks of a solid financial future.
TV personality Tonipet Gaba and Pru Life UK’s Mary Jane Pangan hosted the webinar, which featured education and finance experts Dr. Queena Lee-Chua and Dr. Mary Joy Abaquin. Both shared their insights on how parents can raise money-smart children at home. Almost 700 parents and children from around and beyond the Philippines joined the virtual event.
“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,” says Pru Life UK Senior Vice President and Chief Customer Marketing Officer Allan Tumbaga.
Multi-awarded Ateneo professor and author Dr. Lee-Chua shared tips on how to introduce money concepts to kids. She advised parents to do frequent activities with their kids, from teaching them how much things are and where money comes from. She also encouraged parents to normalize lessons about monthly bills, exchange rates, or distinguishing between needs and wants when kids are older. According to her, "Parents and teachers are the best role models. If we don't practice what we preach, it will be absorbed by our kids."
Complementing her talk was the discussion led by Dr. Abaquin, author and founding directress of the Multiple Intelligence International School. She 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.
The Cha-Ching Kid$ at Home webinar also featured exciting games for kids aged seven to 12 years old about money management. The activities were designed to be an engaging way for children to value money and be careful with their allowance.
Participants estimated the correct cost of school supplies in Guess the Price, while they determined if an item is a necessity in Need or Want? The games were based on existing Cha-Ching Kid$ at Home modules. Game winners received P500 gift cards and exclusive Cha-Ching comics, while one lucky attendee won a brand-new tablet to aid in their home schooling.
“We are happy to supplement the Cha-Ching Kid$ at Home online resources, an initiative developed by Prudence Foundation – the community investment arm of Prudential in Asia and Africa – following its launch last June. The webinar, also done in partnership with Junior Achievement Philippines, reinforces our We DO Education promise, where we aim to teach Filipinos to be money smart. Previously, we worked with schools and institutions to promote financial literacy. Our new work from home setup has pushed us to pivot to digital and give parents an active role in their child’s education with simple yet quality resources,” shares Tumbaga.
“Financial literacy may be an intimidating topic for both parents and children. This motivated us to develop easy resources for parents to teach and facilitate, and at the same time, make learning fun and enjoyable for kids. Our modules are free and available online for everyone to access,” ends Prudence Foundation Executive Director Marc Fancy.
Parents can view online or print out the Cha-Ching Kid$ at Home modules, 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. Access the modules at www.cha-ching.com