‘Start young, start now’

8/28/2015 Randomly Candid 0 Comments

Jerusha Naira Agatha Dino, a Grade 2 pupil of
San Jose Catholic School is excited to put some coins in her coinbank.
MOST of us have probably heard the story of the grasshopper and the ant (Si Tipaklong at Si Langgam) in school. It is the story of the grasshopper that is not fond of keeping food for emergency situations and the ant that keeps on saving food for future needs.
This simple childhood story taught us that saving is necessary to survive.

For the present generation to live by the values of the ant in terms of saving, the Financial Consumer Protection Department (FCPD) of Bangko Sentral ng Pilipinas (BSP) launched a program to explain to the younger ones the concept and importance of saving money.

Dubbed “Project BRO (BSP Reaches Out)”, the savings campaign aims to educate students on how they can save money at their young age.

In partnership with the Bank Marketing Association of the Philippines (BMAP), Project BRO targets Grades 1 to 10 students or their equivalent levels from both public and private schools across the country.

According to Divine Arquiza-Labitad of BSP’s FCPD, a study conducted by World Bank revealed that if a person is taught how to save at an early age, he will carry the habit of saving when he grows up.

Teachers of San Jose Catholic School distribute saving rulers to the students
To encourage saving among Ilonggo kids, BSP brought Project BRO in Iloilo City as it was launched in four schools here recommended by the Department of Education. These are San Jose Catholic School, Colegio de San Jose, Iloilo Central Elementary School and Baluarte Elementary School.

During the launching of Project BRO in San Jose Catholic School, Arquiza-Labitad explained to the students the importance of saving and the difference of needs and wants.

As part of the program, BSP also gave out saving rulers containing figures reflecting how much savings the students will have in a certain period of time given a specific amount.

The launch was also highlighted with the giving out of coin banks donated by BMAP.

The money the kids earned through the coin banks can be used to open a Kiddie Savings Account in some of the member banks of BMAP.

Project BRO coinbanks
BMAP president Miguel Angelo Villa-Real said the organization will facilitate the students in opening their savings account.

“The bank representatives will go to the school to reach the kid savers for them to open the account,” he explained. He noted that students can open their own savings account for as low as P100 initial deposit.

Villa-Real, who is also the vice president/Corporate Communications Department head of Veterans Bank, said the coin banks are their way of inspiring students to save while they are young.

To further urge the students to save, BSP will recognize the school with the highest number of student savers, the classroom adviser with the highest classroom savers, and the outstanding kid savers who saved the largest amount.

Prior to Iloilo City, BSP’s FCPD has already launched Project BRO in the cities of Davao, Digos and Dipolog. It is also scheduled to be launched in Bacolod, Cebu, Cagayan De Oro and Ormoc in the next months.

The project aims to reach 5,400 students in four selected schools in each area. (As published in Panay News)

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