The Market Monitor Minding the Nation's Business
International payments service firm Visa has hosted its first-ever Financial Literacy Day for students in Manila, in cooperation with Teach for the Philippines (TFP) and the Money Museum at Bangko Sentral ng Pilipinas.
During the Visa Financial Literacy Day, 40 students from the third to sixth grade levels went on a tour of the Money Museum at the Bangko Sentral ng Pilipinas (BSP) headquarters, where students familiarized themselves with the rich heritage of the Philippine currency.
After the museum tour, the students and Visa volunteers participated in a financial literacy workshop facilitated by TFP alumnus Kevin De Guia. The workshop taught students the importance of learning how to manage their money.
“At Visa, we believe financial literacy skills are vital to providing a secure future for individuals, families, communities and the country. When people understand how to manage their money, economies work properly, and a greater section of society can be prosperous.We’re proud to be working with government and private sectors to boost financial literacy efforts across the region,” Stuart Tomlinson, Visa Country Manager for the Philippines and Guam, said.
The Philippines has one of the fastest growing economies in Asia which means that the population with financial capability is also rising.
However, a study by S&P Global Financial Literacy shows that only 25 percent of Filipino adults are financially literate.
“We are happy to be partnering with Visa to help spread the importance of financial literacy. Learning doesn’t have to be confined within the four walls of the classroom. Through fun and engaging activities like this, children are able to appreciate better the importance of financial education,” Patricia Lim, Chief Strategic Resource Officer, Teach for the Philippines, said.
“Being financially literate – having the skills to budget, save and spend responsibly – is a prerequisite for inclusive economic growth. Visa will continue to help Filipinos to make the most of their growing economy,” Tomlinson said.