In the Philippines, a lot of people live by the ‘bahala na’ principle even when it comes to money. So, many don’t have a bank account, no savings, no emergency funds even if they already have a job. Financial literacy is low, with many people just spending all their money in a day and living contentedly with what’s left until the next time they have some cash.
But one teacher aims to begin financial literacy in the classroom as she taught her Grade 3 pupils how to save money, even if they only have a few coins as ‘baon’.
Photo credit: Jeanne B. Olavire / CFO PESO SENSE – Facebook
On a financial literacy page on Facebook, CFO PESO SENSE, a teacher shares photos of the Grade 3 class flexing their piggy banks.
According to Jeanne B. Olavire, a Grade 3 teacher of Roosevelt Elementary School in San Vicente, Gumaca in Quezon, they had a topic in their Filipino subject about ‘pagsunod sa panuto’ (following instructions).
Photo credit: Jeanne B. Olavire / CFO PESO SENSE – Facebook
One of their activities for the lesson is to make a coin bank from recycled materials such as a shoe box, empty plastic containers of powder or alcohol, or some other object that they have to wrap in a recycled material such as an old gift wrapper or used colored paper. The lesson integrates Filipino with arts.
Photo credit: Jeanne B. Olavire / CFO PESO SENSE – Facebook
But the teacher saw this project as an opportunity to teach the kids about financial literacy. Integrating a third subject to the instruction, she encourage her students to participate in a class ‘ipon’ challenge. The kids were not required to put a specific amount in their coin bank but are encouraged to put a peso coin in, if they have some extra money from their ‘baon’.
Photo credit: Jeanne B. Olavire / CFO PESO SENSE – Facebook
Keeping in mind that this is public school where the students might not even have ‘baon’, the project was not compulsory. The class was supposed to open their coin bank for their Christmas party but decided to postpone this for the end of the school year.
Photo credit: Jeanne B. Olavire / CFO PESO SENSE – Facebook
Photo credit: Jeanne B. Olavire / CFO PESO SENSE – Facebook
On the first Friday of March, they finally opened their coin banks because they wanted to have a souvenir, the teacher said. While the money isn’t a lot, it’s already a big thing for these kids – and they are all earning praise for trying their best!
Photo credit: Jeanne B. Olavire / CFO PESO SENSE – Facebook
Good job, kids!
