Teach 15,000 rural kids to save and invest

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.

I am Krystelle Ferry S. Lagar, 11 years old and a Grade VI pupil of Rizal I Elementary School. My family and friends love to call me “Tal-tal”.

            I’d like to share my fun and life-changing journey with Tagum Cooperative’s savings programs for children like me.

            “Save for your future Tal!”

            This is what my Mommy Cristy always tells me everytime she gives me money or whenever my relatives hand me coins or paper bills as their token of fondness for me.

            I didn’t know the meaning of “savings” until she bought me a piggy bank. I thought it was just a toy and I would just play with it.

            She started dropping coins in my piggy bank as a way of feeding it. Then, I followed until it became my habit to drop some coins everyday.

            When I reached Grade V, she enrolled me at Tagum Cooperative Youth Saver Club where I received my first passbook on February 2010. That was how my formal savings activity started.

            I was so proud to have that passbook just like what I often see from my mommy and other kids in Tagum Cooperative when we go there.

            I became more interested when Tagum Cooperative reached out to our school for its Aflatoun Savings Program. So, I told my mommy about it. Then, she allowed me to join.

            I am very happy because I already have two (2) savings passbooks.

            Now, with Aflatoun, I save happily with my classmates because we always compare our money we saved from our ‘baon’ every week. We are saving while having fun.

            One thing also, I love with Aflatoun is that I can easily deposit through the help of my teacher.

            I am thankful to our school, Tagum Cooperative, and the Aflatoun program because I have already started saving for my high school which I was exactly what my Mommy Cristy told me that I must learn to save for my future.

            Presently, I now consider Aflatoun as my best partner for my bright future!