Kids with financial literacy grow into responsible, empowered adults

  • Living
  • Tuesday, 18 Dec 2018

Teaching children good financial habits can help create financially intelligent adults.

Since the beginning of human civilisation, education has played a critical role in providing the essential skills and knowledge that will allow a person to contribute to their personal growth and of their communities.

In recent times, with Malaysians growing increasingly aware of the importance of financial planning, financial education has taken the spotlight.

The financial literacy gap in Malaysia is acutely pronounced, and the Organisation for Economic Co-operation and Development (OECD) reports that Malaysia ranked 20th out of 31 countries tested on financial knowledge, attitudes and behaviour.

Recognising that financial education needs to start at a young age, Prudential Assurance Malaysia Bhd (PAMB) aims to inculcate financial resilience in society through financial education programmes for children – Cha-Ching and Duit Right.

Launched in 2011, Cha-Ching is an initiative of the Prudence Foundation, the community investment arm of Prudential Corporation Asia. It is an award-winning financial education programme that provides a platform to instil money-smart skills in children aged between seven and 12.

It also instils positive values, such as saving before spending, the importance of working hard and honestly, spending wisely by distinguishing needs and wants, and giving back to the community.

In Malaysia, Cha-Ching was adapted to an on-ground financial education programme. Duit Right is uniquely designed for youths aged between 13 and 15, and takes the four key concepts of money management further.

It is a practical and engaging experiential learning programme that empowers youths by helping them make better informed decisions, and supports the Education Ministry’s aspiration to develop more values-driven Malaysians.

Both Cha-Ching and Duit Right support the United Nations Sustainable Development Goal of ensuring inclusive and quality education for all and promoting lifelong learning.

Building on the success of Cha-Ching, the Cha-Ching Curriculum was introduced to equip teachers with the right knowledge and tools so that they can provide children with a good understanding of basic money management concepts.

It was endorsed by the Education Ministry in 2017, and to date, PAMB has reached out to more than 46,000 children from 344 schools through the Cha-Ching Curriculum.

Cumulatively, PAMB’s financial education programmes have reached out to more than 86,000 individuals from 460 schools and communities.

With their continuous efforts in promoting good financial habits among children through impactful financial education programmes, PAMB was recognised at Karnival Kewangan 2017 by Bank Negara Malaysia and the Malaysian Financial Industry Institution with the “Best Financial Education and Awareness” award.

More importantly, equipping children and youths with financial literacy can help they grow up to be financially responsible and empowered adults.

For details regarding Cha-Ching and Duit Right, visit

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 7
Cxense type: free
User access status: 3

Across The Star Online