How public school teachers are teaching kids to save

Posted at 05/24/14 1:08 PM

MANILA, Philippines – Public school teachers are integrating financial lessons to some subjects to teach their students the value of money.

Evelyn Balunsay, a master teacher 1 handling English and Good Manners and Right Conduct (GMRC), said the Department of Education’s (DepEd) Edukasyon sa Pagpapakatao program teaches students lessons on saving energy, saving money, entrepreneurship and budgeting.

She said students also learn about entrepreneurship in home economics classes.

“After the project, they can sell and start a small business,” she told ANC’s “On The Money.”

Balunsay said aside from practical tips, students are also taught basic traits like patience, wisdom, and perseverance.

“It’s important to know the traits needed to become a successful entrepreneur…Because when you start a small business, you are not always assured of having success right away so you have to really be very careful, patient and persevering,” she said.

She added that the Bangko Sentral ng Pilipinas (BSP) has played a role in helping DepEd fulfill its goal of spreading financial literacy by holding seminars involving parents and teachers.

“Parents must play a role in teaching their children financial literacy. In their barangay, people there should also teach somehow this kind of education,” she said.

Ramil Dorol, a teacher handling math, science and GMRC, said financial literacy should also be integrated with other subjects like math.

He said this is being discussed with the BSP.

Both Balunsay and Dorol said they always remind their students to save every centavo and use piggy banks in saving their money.

For Balunsay, children can be taught about the value of saving as early as 2 years old.

The DepEd is supporting initiatives of the Child and Youth Finance International, which has set a target of 100 million children in 100 countries given access to financial education by 2015.