The transformative power of financial literacy

Raine Santiago Nakpil, a Communications student at the University of the Philippines-Diliman and an alumna ambassador of the 2016 pilot cohort of the Cha-Ching program, is a testament to the growth and influence of financial literacy education among young learners.

Her journey demonstrates the transformative power of the globally acclaimed financial education program. Created by Prudence Foundation, the community investment arm in Asia and Africa of Prudential plc, Pru Life UK’s parent company, Cha-Ching was introduced in the Philippines in 2016, together with Junior Achievement Philippines.

The program comprises animated, music-based cartoons created in collaboration with Cartoon Network Asia and Emmy award-winning Children’s Educational Specialist, Dr. Alice Wilder. It includes a school curriculum that aims to cultivate positive money values, knowledge, and behaviors in children.

“One of my fondest memories as a child was watching Cha-Ching on my parents’ old television, during the afternoon when my eleven-year-old body was weary and worn from a long morning attending middle school. The upbeat songs have been stuck in my head until now, and I still enjoy hearing my favorite characters enthusiastically sing “Earn, Save, Spend, and Donate” over and over again. Those little tunes, uncomplicated yet infinitely meaningful, have shaped me in terms of how I approach my financial management eight long years later,” Nakpil said.

Cha-Ching not only foregrounds the importance of financial literacy but illustrates the multitude of benefits of instilling these principles in young learners’ minds, providing them with the tools they need to make informed financial decisions at a young age.

Prudence Foundation, in partnership with Junior Achievement Philippines, recently celebrated a milestone event for Cha-Ching’s reach of over one million students nationwide who have learned basic money management skills through its financial literacy program. As of February 2024, Cha-Ching has trained 28,000 teachers nationwide, primarily through its partnership with the Department of Education.

Nakpil expressed her gratitude to the team sharing, “While I recognize that I have been molded by Pru Life UK’s commitment to championing financial literacy, what I would truly like to thank them for is encouraging me to march to the beat of my drum. However, it is comforting to know that if ever I find myself lost or struggling, I can always return to my Cha-Ching family’s music, who join me in harmony to continue promoting financial responsibility for the youth.”

Today, Nakpil remains actively involved as a program volunteer, generously dedicating her time to sharing her knowledge and experience with aspiring young learners.