The Key is Financial Literacy - DepEd to run Money 101 for Pinoy kids

So you’re lacking financial literacy and want to increase your chances of achieving your dream of financial freedom?!

Well, you can go back to your grade school!

I got this good news from Yahoo! News - that the Department of Education (DepEd) is considering teaching financial literacy to our little children as young as Grade 2 pupils.

I believe this is a good move from the institution considering that we look money as that thing that makes the world go round. If we want to make this world-rounder in favor of us, then it is just sensible to examine on how to properly and control this tool at an early stage in life. J

Robert Kiyosaki in his best-selling book Rich Dad, Poor Dad has consistently emphasized the value of financial education. He mentioned that people are taught in schools how to be an employee and thus work for money.

Students are taught how to build buildings and bridges and never how to build one’s wealth. In the end, the same people suffer because of a mere ignorance and lack of financial education.  They remain slaves of their work, helplessly exchanging their limited time for their equally limited income.

I personally take heart on those hard-working generous helpful people yet still finding themselves struggling in their financial life. If only they could understand the few basic principles of how money works, then they could have a much better financial mindset and stronger financial foundation.
The key is education!

I myself had to examine myself and check whether my thought and beliefs are supportive of the financial goals I have. After that I had to invest and educate myself and replace that non-supportive garbage with useful financial bits of info.

Once one has the financial foundation, the rest is simply following of steps to financial freedom!

Thus this DepEd initiative could really help drive our youth build businesses and make money work hard for them instead. This can be the start of building a new generation of Filipino entrepreneurs providing local jobs to many - a glimpse of a brighter Philippines! Just imagine if we have lots of MVP’s, Henr Sy’s and Lucio Tan’s abounding in our land!

Read the whole article below and be inspired!

Have fun and millions investing! J

DepEd to run Money 101 for Pinoy kids

The Department of Education has signed an agreement with PruLife UK for a two-year pilot run of the Cha-Ching Money-Smart Kids program to teach elementary school children four financial literacy skills: earning, saving, smart spending, and donating.

The test run for the program will be conducted at the Upper Bicutan Elementary School in Taguig City and the Tagaytay Elementary School in Tagaytay City. The financial literacy lessons will be integrated into Math or Values subjects of Grade 2 students next school year.

The program, which includes lesson plans and training for teachers, will be taught through educational cartoons and workbooks. 

Education Secretary Brother Armin Luistro, who signed the agreement, said children should be taught money management early in life. "If a child appreciates at an early age that it takes hard work to earn money to buy things, save, or even share with others, he will have a valuable lesson which he can use through life," he said.

Pru Life UK president Antonio De Rosas said most Filipino children learn to save at seven and that money management lessons will help make them more responsible with money. "An effective financial literacy program should start from childhood," he said.

"Through Cha-Ching, we hope to play a part in preparing our youth, the backbone for the future Philippines to become financially adept adults," Pru Life UK senior vice president Belle Tiongco said.
Although Filipino children start saving early, less than half of the parents in a survey keep track of what their kids spend on and even less think their children manage money well.

According to a region-wide survey commissioned by insurance and asset management firm Pru Life UK, 41 percent of respondents said they do not monitor their kids' spending and only 19 percent believe kids have  good money management skills. Less than 10 percent said their kids keep track of their own money and 76 percent said their kids will just ask for more money instead of saving.

Although 94 percent of respondents said they want to be more involved in teaching their kids to be smart about money, they said they are still looking for ways on how to do it.



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