Before children learn to earn, they should learn to save

As it celebrated its 175th anniversary, the Bank of the Philippine Islands (BPI) underscored the importance of teaching children financial responsibility early, re-launching BPI Jumpstart, a savings account designed for young Filipinos aged seven to 17.

During the launch, president and chief executive officer (CEO) Jose Teodoro “TG” Limcaoco said developing good saving habits at a young age can help children build discipline, patience and confidence that will serve them well into adulthood.

“When we think about the future, we think about the next generation. We know that the habits that help shape a brighter future begin early in life,” Limcaoco said.

He emphasized that saving is about more than setting money aside.

“Those moments taught us lessons that went far beyond just the money. It taught us patience. It taught us planning, and it taught us that the biggest dreams can be achieved one step at a time,” he said, recalling how many adults first learned to save through piggy banks or by setting aside part of their allowance.

Limcaoco encouraged parents to pass those values on to their children, noting that financial security is built through “small, consistent habits” developed over time.

Addressing the young audience, he challenged them to save for their own goals instead of relying solely on their parents.

“Imagine if you’re able to buy it yourself,” he said. “One day, you’ll be able to buy something you worked hard for… and you’ll realize that what you’ve earned isn’t just the thing you wanted. You’ve learned patience, discipline and the importance of setting a goal and working for it.”

The newly BPI Jumpstart account is designed to help children take their first steps in managing money while encouraging families to make saving a lifelong habit. The account can be opened with an initial deposit of P3,000 and may be set up jointly with a parent or guardian, encouraging families to make saving a shared experience.

To make the process more engaging for young account holders, the bank has integrated Disney-themed learning materials into the program. Each Jumpstart account comes with a Disney or Marvel-themed passbook sleeve and an activity book developed with Rex Publishing that teaches children about earning, saving and budgeting through stories and interactive exercises.

The program also includes a companion web application where children can complete chores, earn rewards, monitor their savings goals and participate in financial learning activities under parental guidance.

As children grow older, the account evolves with them. Once the account holder turns 18, Jumpstart is automatically converted into a regular savings account, allowing young savers to continue their financial journey into adulthood without opening a new account.