Teach 15,000 rural kids to save and invest

We usually hear inspiring testimonies from our young savers of the great impact they have embraced because of the Aflatoun Program. However, one that also consists of the Aflatoun Network are our educators who have been an instrument to teach the heart of the program to our Aflatouners!

Introducing one of the dedicated Aflatoun Teachers and School Coordinator of Lamac National High School, Ms. Miriam Balansag who shared her journey from the moment Lamac Multi-Purpose Cooperative introduced the program to their school community last 2017.

Being in the program for two years, challenges and success stories have already transpired in Lamac NHS and how did Teacher Miriam motivate her students to develop their habit of savings? How did she become engaged in the cooperative through the Aflatoun movement?

Check out her testimony below to be inspired and encouraged through her #AflaStory!

“Saving a penny has always been my desire since my high school days. And now that I am already a teacher, I look forward to see this desire in my students as well.

Luckily, Aflatoun program was introduced during my 1st year here in Lamac National High School. I was so eager about its implementation because I knew this is going to be an avenue in teaching the students to become financially literate. However I was also a bit hesitant since I was unsure if the students would embrace it or if their parents would support them in this aflatoun program. Also, considering that Lamac is the pioneer of this program, it was really a challenge for me if I could help sustain it here in our school.

However, through the help of the Youth Program Head, Mr. Kevin Paslon and our ever supportive principal, Dr. Delfin P. Tuquib, we were able to successfully start its implementation last November 2017.

At first students were not that dedicated in saving a part of their ‘baon (allowance)’ but through constant motivation, their savings became consistent. One of the most effective motivation I did was giving 100 pesos ($2) per month on top of their savings to the most consistent saver of the month. This strategy made them more excited to save apart from having something to withdraw at the end of the school year. There were even times that I forgot to follow up, and it’s already them reminding me, “Ma’am ang savings d i? (Maám, can we save?)”. In fact, their savings was way bigger than I expected. This made me realize that the desire I had back then when the program first launched in our school has already been emulated by my students.

In addition, the teachers of Lamac National High School were so grateful that our principal has always pushes us to be equipped with trainings and seminars that made us more equipped may it be beneficial in our field of teaching or personal development like financial literacy workshops. I had been blessed with a lot of opportunities that taught me the real essence of the cooperative movement, and this directed me to become part of Lamac Multi- purpose Cooperative which awakened my innate desire to serve the people as well.

I can still remember a teaching in one of our seminars, from Warren Buffett, “Do not save what is left after spending, but spend what is left after saving.” At first, it may be hard, you may not see its importance yet, but in the long run, you’ll get used to it and you will just realize that a penny is worth saving.”

You can follow inspiring testimonies and #AflaStory on our facebook page: Aflatoun Philippines. Till next update, Global Givers! Keep saving!

A great start for another month, Global Givers! How well have you been?

Today, we have another great story from one of our savers in the Philippines. His name is Elijah, and he came from a small town called Pinamungajan in Cebu, which is also known as the Queen City of the South. He is currently a Grade 5 student who, like any other kids in the Philippines, became hooked on video games in this day and age of developing technology. Elijah have his own unique story of transformation to tell, shall we start?

Having been born in a middle class family living in the province, Elijah's parents strived hard to send him to a good school and to create a bright future for him and his siblings. But because of the nature of their work, both of his mother and father has not been always at home. And to compensate for their busy schedule, Elijah's parents oftentimes just gave him money and give in to his purposeless requests. His parents meant well but this only contributed to Elijah's carelessness with his money.

"My parents were all busy on their work so I was hooked up with computer games, playing rubber bands, and stickers. I bought everything and anything that I want, mostly junk foods, and then I give it to my friends. I was generous to them because I enjoyed their company. Since my parents were all busy, I felt like they don’t have time for me”, Elijah stated.

It was three years ago, on the year 2016, when our local cooperative partner, Lamac Multi-Purpose Cooperative started reaching out to Tajao Central Elementary School, Elijah’s school. When his parents knew about Aflatoun, they enthusiastically let Elijah join our social and financial education program with the hope that he will learn the importance of money. That time, Elijah only saved money because his mother told him so and not because he willingly wanted to.

One afternoon after class, Elijah hasn’t come home yet. Her mother got really worried and shortly discovered him intensely playing computer games and even paying for his friends at a computer shop near his school. Her mother got even more disheartened when she learned that this happened several times already and that Elijah had very little sense of the value of money. Yet, instead of reprimanding Elijah, her mother decided to enlighten and encouraged him to save. Elijah recalled, “She [my mother] told me that I should stop playing computer games because it is not good for my body and for my studies. It is just a waste of money. She encouraged me to save the money that I received from them and from my grandparents. She helped me realized that not all the time they are always there to give me money or even have money to give.”

Elijah’s parents didn’t want them to experience the hardships they’ve undergone just to finish college during their years and worked so hard to be able to provide their daily needs. They also apologized to Elijah for those times they were not around because of their work and he felt that they didn’t care.

“As I look at my mother, I knew what she’s doing is very difficult and hard because she is a working mom. So from then on, I gradually realized the importance of savings for my future. I know there are lots of computer shops, there are many foods that could make me happy but I’ve learned to control myself and the value of hard-earned money. This event has taught me self-discipline and how to prioritize needs over wants.”

Elijah, with the support coming from his parents, decided to join taekwondo training that diverted his interest from playing video games and helped him physically, emotionally and mentally. He also sold his online game account and rubber bands and saved all of its earning to his Aflatoun savings account. He put off that quick blip of happiness to create something greater in the long run, like the ant who saved up for the rainy days.

Now, Elijah has been a consistent Aflatoun Child of Year awardee for 3 years straight! Truly inspiring! Her parents, friends, and mentors are more proud of him than ever because he is now saving more and spending less, inspired to think about his future. He learned that the simple practice of setting aside any amount of money, no matter how small, has the potential to enrich lives in ways many of us would not have expected. And this makes us proud, too! Way to go, Elijah!

Links:

• Check us out: Aflatoun Philippines

• Aflatoun Philippines: Newsletter (PDF)