Firms join forces, making Filipino students financially literate

JA Philippines has officially launched the third year of its groundbreaking JA Personal Finance program, a key initiative aimed at enhancing financial literacy among Grade 11 Senior High School students nationwide.

Sponsored by Wells Fargo, the program focuses on equipping students with essential financial skills, including earning, budgeting, saving, investing, and responsible credit use.

Wells Fargo’s support of the program aligns with its commitment to making a difference in the communities where it operates, reflecting its dedication to promoting financial literacy and empowering the next generation for a financially secure future.

“We’re proud to continue our partnership with JA Philippines for the third consecutive year,” said Mr. Mike Whyte, Wells Fargo Philippines Country Head.

“Helping others succeed financially is at the core of what we do, and through this program, Filipino high school students are equipped with real-life skills that will help them thrive as adults. It’s a wonderful advocacy and truly a great fit,” he added.

Building financially literate Filipinos

The JA Personal Finance program goes beyond managing money; it’s about empowering individuals with the knowledge to make informed financial decisions. Participants will learn the fundamental elements of financial planning—how to make money, spend wisely, and use credit cautiously.

Opening the event, Krishna Alejandrino, Executive Director of JA Philippines, emphasized the program’s significance in shaping the financial futures of young Filipinos.

Bandana Jha, Head of Philanthropy and Community Impact for India and the Philippines at Wells Fargo, followed with a message highlighting Wells Fargo's ongoing commitment to supporting financial education in the Philippines.

“Wells Fargo remains deeply committed to fostering financial literacy among young Filipinos. Through the JA Personal Finance program, we are not just imparting knowledge but empowering students to make informed financial decisions that will shape their future,” said Jha.

“This program is a testament to our belief that financial education is essential for personal growth and community development. We are proud to partner with JA Philippines in nurturing a generation that is not only financially literate but also ready to contribute meaningfully to society,” she added.

Data from 2022 shows that only 25 percent of Filipinos are financially literate, placing the country in the bottom 30 out of 144 countries globally. Challenges include economic priorities, cultural barriers, limited access to financial services, and the prevalence of misinformation and predatory practices.

Through initiatives like JA Personal Finance, and with support from the government, private sector, financial institutions, universities, media, families, communities, and NGOs, JA Philippines aims to significantly improve this statistic.