Prudential does another positive thing for society. Together with the cartoon network they introduce an educational program to help teach children about savings and value of money. Its definitely a much needed skill in today's consumerism driven world. Way to go Pru!"
Prudential introduced a new financial literacy programme to primary school children in Singapore. Based on the first-of-its-kind animated musical edutainment series Cha-Ching, which was launched regionally last September, the interactive series aim to introduce money-smart values to children between the ages of seven and 12 in a fun and interactive manner.
At the heart of Cha-Ching is a series of animated musical cartoons focused on financial literacy. Four fundamental money management concepts – Earn, Spend, Save and Donate - are made relevant to kids through the Cha-Ching band, which is made up of six characters, each having a different approach to money management. To develop this, Prudential worked closely with different experts including renowned children’s education specialist Dr. Alice Wilder as well as Cartoon Network, the region's number one channel for kids. The programme uses an 'edutainment approach' to build children's understanding of the four fundamental money management pillars. The episodes started airing on Cartoon Network last September in seven markets (Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam). There is also an interactive website with extensive digital resources for parents, children and educators.
Based on the core theme, characters and concepts of Cha-Ching, The Cha Ching Singapore School Tour empowers children to take charge and make independent financial decisions as they play a fun-filled and educational game on a life-size game board.
"As a leader in the insurance industry, it is important for us to help encourage and develop financial literacy for children in Singapore. Designed with the Cha-Ching theme and concepts, which have been well received since its launch last year, our new interactive programme aims to impart essential money-smart values to children in a fun yet accessible manner," said Kevin Holmgren, Chief Executive Officer, Prudential Singapore.
According to a survey that Prudential initiated across seven markets (Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam) to understand Asian parents' perspectives on their children's money management skills, 96 per cent of kids receive regular pocket money. However, few parents (13 per cent) believe their children possess good money management skills, although 95 per cent regionally think it is important to learn them. The survey also found that just around half of parents (44 per cent) feel their children are saving only because they had told them to. Only 8 per cent of parents think their kids are keeping track of their spending. Although parents believe their kids understand money has to be earned (93 per cent), they also say their kids would just ask for more money when they need it (58 per cent).
