On February 13, 2012, pupils, teachers, parents, and partner credit union in Iloilo City, Philippines gathered to show their support to the propagation of financial education for children. Fifty participants reviewed and reflected about their experience in the implementation of a curriculum-based financial education program with a school-wide savings activity. Six schools from Iloilo City started the program last September 2011, and after four months of implementation, they have reviewed the impact and outcome of the program. Karen Kaye de los Reyes, a Grade V pupil from Apolinario Mabini Elementary School, shared that she enjoyed her experience as a member of the Aflatoun Child Social and Financial Education Program. She always looks forward to saving some amount each week. She finds pride in owning a passbook and seeing how her savings have grown. Pupils from Rizal Elementary School also enjoyed the Aflatoun lessons that are being integrated in their Math class. They never thought that solving interest can be easy and fun. Since the Aflatoun Program utilizes games and group activities as means for learning, pupils never get bored. Children had a good grasp of the concept of savings and simple investment. They have learned and imbibed a new formula that will enable their savings practice-allowance-savings=expenses. Teachers were happy to see the positive effects of the program to the behavior of their children. Children not only learn about saving money but also saving time and energy. Teachers were grateful for the resource materials that the program provided because it made their lessons more interactive and participatory. "It is easier to generate ideas from children if they are involved in the learning process", shared Ms. Mary Grace Orada, a grade V teacher. Parents supported and appreciated the provision of a child-friendly savings account. They also reinforced that kind of financial discipline children learn from school at home. The program started in October 2011 and 560 children were able to save $1,627. It is a small start to fulfill a big dream.
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Youth Program Officer