Sad truth is that a recent survey showed that 88% of Filipinos are unbanked with reasons varying from no enough money to save or they are so poor that they can’t even produce the requirements that banks are asking. This lead many to thinking, how can we change this scenario?
Maybe I can start with my own children, I might have resources to educate them on financial literacy. Private schools can also adapt this initiative since they too have their resources, but what about public schools and those children in the rural community, do we leave them high and dry?
The siblings are hoping to source more funds and partnership from the government and private sector to make this a nationwide effort. Most of us will think that this might be easier said than done but this type of effort is what we should all support.
The boot camp narrowed down, 10 lucky entries for the final pitch and these are those who stood out:
1) Bin Stalk – A program designed by Domyson Dulay Abuan for the community of Malaban that combines learnings on financial literacy and waste management;
2) Budget Squad Manila – A social enterprise focused on teaching good money management skills and financial literacy through creatively designed personal finance tools;
3) EmpoWomen PH – A non-profit organization that aims to help displaced women and families in Marawi City through sustainable sources of income;
4) FLOW Inc. – Stands for Financial and Life Opportunities for Women and focuses on giving practical education in finance for marginalized and average social class women;
5) Kids Who Save (KHuSA) – Game-based learning designed to simplify the concept of financial literacy for young kids;
6) Young Savers: Experiential Learning to Financial Literacy – At the Mano Amiga Academy, children from the lower end of the socio economic ladder are taught the value of financial responsibility through project-based learning;
7) Change for a Life – A campaign created to help lower income families manage their finances to fit their expenses and save money;
8) Children of Sugar Cane Farmers in Bacolod – A program designed to teach children of sugar cane farmers about the opportunities open to them to uplift their family’s lives;
9) COINscious JUAN – A savings app created to promote the importance of being conscious of one’s spending habits, and;
10) Pitaka ko:’ A Learning & Savings Journal for Kids – An interactive and creative learning and savings journal for kids ages eight to 15 designed by Roxanne Navarro.
“One of the core pillars of Sun Life Foundation is education, and the Brighter World Builder Challenge was launched because we wanted to give recognition to individuals and groups who have programs in place that teach Filipinos about the importance of financial literacy,” said Alex Narciso, President of Sun Life Foundation.
“Our 10 winners have indeed shown that is through creativity and innovation that we are able to encourage Filipinos to be more financially savvy and to become more financially secure,” he added.