Cha-Ching, a financial literacy program, aims to reach 1M young students.
PRESS RELEASE
The Cha-Ching Program has been awarded for its excellence in promoting prudent financial habits (Earn, Save, Spend & Donate) and nurturing financial responsibility among children.
26 September 2023, Manila, Philippines — Prudence Foundation, the community investment arm in Asia and Africa of Prudential plc, Pru Life UK’s parent company, in partnership with JA Philippines, are thrilled to announce the official relaunch of its financial literacy education program that aims to reshape the future of young kids. With an unwavering commitment to empower the youth, we proudly present “One Student to a Million: Cha-Ching Shaping a Financially Literate Generation.”
Celebrating Cha-Ching Milestones
In 2016, Prudence Foundation with JA Asia Pacific and JA Philippines, introduced the Cha-Ching curriculum. Cha-Ching was co-funded by Prudence Foundation and Pru Life UK in the Philippines, a leading life insurance company that provides financial and health solutions. As these organisations continue to expand, it remains committed to extending its outreach by introducing additional initiatives within the Cha-Ching curriculum aimed at educating students on financial principles and financial matters.
As a testament to its success and commitment to involvement, the Cha-Ching program has now been integrated in the school curriculum of Grade 4 students. At such a young age, students are now exposed to matters involving money and finances and different investment modules. As the majority of key decisions in our daily lives involve money, Cha-Ching gives students the freedom and confidence to know and learn more about organising their finances, no matter how big or small.
Today, Cha-Ching is hailed as the most renowned financial literacy program for youth in the Philippines as it also received the Silver Asia-Pacific Stevie® Award in the Innovation in Community Relations or Public Service Communications Category in 2021 and the Money Awareness and Inclusion Awards in 2022.
This year, the renewed Cha-Ching program sets an ambitious goal: to reach l 1,000,000 students and 28,000 teachers nationwide. This goal reinforces Prudence Foundation, Pru Life UK, JA Asia Pacific and JA Philippines’s commitment to becoming trailblazers in financial literacy education for the youth.
“Together with Prudence Foundation, I am very excited that the Philippines will be the first country where the Cha-Ching Curriculum will have reached 1 million students by the school year 2023-2024. Truly, an amazing achievement reflecting our purpose as partners for every life, and protectors for every future,” shared Eng Teng Wong, President and CEO of Pru Life UK.
Empowering the Youth
As a testament to its success and commitment to involvement, the Cha-Ching program has now been integrated in the school curriculum of Grade 4 students. At such a young age, students are now exposed to matters involving money and finances and different investment modules. As the majority of key decisions in our daily lives involve money, Cha-Ching gives students the freedom and confidence to know and learn more about organising their finances, no matter how big or small.
Getting to Know Cha-Ching Curriculum
Last year, Prudence Foundation successfully launched their one of a kind financial literacy online game, Cha-Ching Money Adventures (CCMA), globally. CCMA is an interactive online game and a dynamic learning platform designed to equip students and teachers alike with vital money management skills while making learning an enjoyable experience.
Aside from the interactive gaming design and interface, CCMA also reaches out to the typical student by playing through 4 different distinctive modules: “Hometown” for Earn, “Mallsville” for Save, “Las Races” for Spend and “Rockability Rivers” for Donate. These modules engage students in the fundamental Cha-Ching concepts: Earn, Save, Spend, Donate, all while earning points, learning, and having fun.
Making a Difference through Cha-Ching
Through curriculum integration and CCMA, Cha-Ching continues to revolutionise financial education, making it enjoyable, comprehensive, and accessible. It fosters a positive attitude toward money, empowering students to make sound financial decisions for a brighter future.
“Teaching kids financial literacy at an early age is not just important; it’s absolutely vital. It’s like giving them a compass for life, giving them proper reference as they navigate real life. By instilling these skills early, we anchor them with the knowledge needed to navigate the complex financial world confidently,” said Jed Velarde, Stock Market Investment Advocate and the Head of Partnerships at COL Financial Group, Inc., during the launch event.
Cha-Ching continues to change the narrative that only adults can handle money and shifts it to the belief that students can also make financially sound decisions for today and the years to come.
This has been one of JA 360: Philippine Partners Summit’s Work-Readiness Event, The Project Management Program, and together, let us be #PROficient and #PROactive with #PROjectManagement!
If you want to know more and be updated about the Project Management Program and other JA Philippines programs, follow our official Facebook Page (@JuniorAchievementPH), or send your inquiries through email: coordinator2@japionline.org addressed to Ms. Paula Dela Cruz.
About Prudence Foundation
Prudence Foundation is the community investment arm of Prudential plc across Asia and Africa. We aim to create a better future for our communities by making them safer and more resilient to life’s risks. 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
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 173 branches and 120 general agency offices in the Philippines, with the largest life insurance agency force with more than 40,000 licensed agents.
The company continues to be the leading insurer in the country, ranking first in terms of Total Renewal Premium Income from Variable Life Insurance Products* and in terms of New Business Annual Premium Equivalent**as of Q2 2023. 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
Notes:
* Renewal Premium Income from Variable Life Insurance Products – premium collected for existing policies
**New Business Annual Premium Equivalent (NBAPE) – premium for a new policy paid in a year
About JA Philippines
Junior Achievement of the Philippines Inc. (JA PH) is a non-stock, non-profit organization that champions and promotes education and literacy for the youth. Through the help and support of both local and foreign multinational companies worldwide, it has engaged more than 250,000 students and 6,000 schools yearly nationwide.
