More public school students learn about financial literacy

Published June 30, 2020, 4:07 PM

by Merlina Hernando-Malipot

A new batch of public school students learned more about the importance of financial literacy after completing a program that teaches the basics of saving, budgeting, and investing.

Students from Mandaluyong Addition Hills and Nueve de Febrero elementary schools in Mandaluyong, and Pembo elementary school in Makati recently completed Manulife Philippines’ Peso Smart program, a year-long program designed to teach public school students about financial literacy.

On its third year, the financial literacy program has produced 29 graduates. “At the end of the program, students were tasked to apply the lessons they learned by creating a financial plan for their family,” said Manulife Philippines SVP and chief marketing officer Melissa Henson.

Henson noted that because of the Enhanced Community Quarantine (ECQ), the learners were asked “to film their final presentations and send them to us digitally” and “we were happy with how they applied their lessons on earning, saving, and investing for their family and their future.”

The Peso Smart program has been able to develop the financial management skills of its student-beneficiaries, as they learned how to manage a budget, set aside savings, and even explore different financial products that will help them fulfill their goals in life. In addition, the Peso Smart program also served as a volunteerism program for Manulife employees, who served as mentors to the students during their weekly lessons.

The Peso Smart program was created in partnership with Hands on Manila (HOM), a non-profit organization that promotes volunteerism and sustainability, as part of their educational program Galing Mo Kid.

HOM identified the partner schools and ensured that the financial literacy curriculum adheres to the requirements of the Department of Education (DepEd).

Meanwhile, HOM president Gianna Montinola noted the good response from other stakeholders. “We have been receiving positive feedback from the parents that the Peso Smart really helped strengthen their family ties, as preparing for monthly expenses has become an open discussion with every family member,” she said. “As we face these challenging times, working together as a family has become more essential,” she added.

Since the program’s launch in 2018, the Peso Smart program has provided financial literacy courses to a total of 100 student graduate beneficiaries in four schools in Metro Manila.