Cha-Ching Smart Financial Education Project and the 'Talking' Numbers

Understanding the need for a systematic and formal education program for children, Prudential's Cha-Ching smart financial education project has been officially introduced to primary schools since the 2019-2020 school year. Entering its 5th year, the project has recorded many positive results in improving knowledge, positively impacting children's financial attitudes and behaviors.

The numbers“Cha-Ching's "Talking" in Vietnam

This year 2023, Cha-Ching celebrates its 5th year of implementation in Vietnam, but globally, Cha-Ching has turned 11 years old. To date, Cha-Ching has been implemented in 15 countries and territories around the world and translated into 13 languages. More than 1 million children have been and are being exposed to smart financial management knowledge, including more than 100,000 Vietnamese children.

To see the feasibility and effectiveness of the project, Dr. Adele Atkinson, a senior independent consultant specializing in finance, wrote “Cha-Ching Curriculum Evaluation”as the program enters its ninth year worldwide.In Vietnam, the assessment was based on the survey results of 13,635 students receiving the Cha-Ching program in the 2019-2020 school year, the first year when the project was officially allowed by the Ministry of Education and Training to be deployed on a large scale in many provinces and cities.

The report found that most Vietnamese students improved their financial literacy after attending Cha-Ching. Initially, only about half of the students answered the financial literacy assessment questions correctly. However, after completing the Cha-Ching program, the survey results showed that children’s understanding of financial skills increased by an average of 34%.

Also in this report, Cha-Ching children were more knowledgeable about different aspects of finance. 93% of students understood the origin, role and application of money in life after completing the Cha-Ching program.

According to the parents of Huynh My (10 years old, Hoa Binh), when exposed to financial knowledge early, the child not only distinguishes the differences between the four basic financial skills, but also gradually understands the value of money and labor.

Not only does Cha-Ching provide knowledge, it also positively impacts children’s perceptions, attitudes and behaviours about money. 9 out of 10 children surveyed believe they can earn money from their favourite job and have expressed their dislike of borrowing money to spend.

Teaching Cha-Ching directly, Ms. Nguyen Thi Ngoc - a teacher at Ban Mai Primary School, was happy to witness the remarkable changes in her students."When children understand more about money, they not only form the habit of saving and spending more carefully, but also reveal and develop good qualities. In class, many children start to practice putting money in piggy banks or sending their parents savings, and even cherish business plans."

Data from the report also shows that after studying Cha-Ching, the number of students who actively spent money only on really necessary needs increased by 31%. As evidence of this, Thien Trang (9 years old, Quang Binh) surprised her parents when she chose to save money to buy a pencil case instead of buying toys with the reason that "learning tools are needed every day". Her parents said that she has begun to know how to "weigh and measure" her spending and pay more attention to really necessary shopping needs.

Cha-Ching equips more than 100,000 Vietnamese children with financial knowledge

Entering its 5th year, Cha-Ching marked an important step forward by expanding its teaching scope to schools in all 3 regions of the North, Central and South, officially bringing smart financial management knowledge to more than 100,000 children, 3,000 teachers at more than 300 primary schools in 7 provinces and cities across the country including: Hanoi, Hoa Binh, Hung Yen, Quang Ninh, Quang Binh, Dong Nai and Dong Thap.

In addition to expanding the area, the project also completed the 360-degree education model with comprehensive solutions aimed at optimizing students' financial education experience. Typical examples include a series of 18 animated musical films on financial management skills, translated and adapted to 13 languages, the "Cha-Ching Kids Are Good at Money" contest, "Cha-Ching Festival" and a series of seminars "Understanding and Teaching Children About Financial Management" for parents.

To date, Cha-Ching continues to receive support and voluntary participation from schools and education departments in localities where the project has been implemented. This partly demonstrates the sustainability and long-term effectiveness of the project.

Through these “speaking” numbers, it can be seen that Cha-Ching has made a significant contribution to building a foundation of knowledge, habits, and proper financial behavior for children. This helps them confidently pursue their future goals and contribute to creating a responsible community from responsible individuals equipped with knowledge.

Through the Cha-Ching project, Prudential has continued to demonstrate its long-term commitment to contributing to building a healthier, more prosperous and resilient community.

The Cha-Ching financial management education project is implemented by Prudential Vietnam Life Insurance Company Limited in collaboration with JA Vietnam. The Cha-Ching curriculum is developed by the Prudence Foundation (Prudential Group's community support fund in Asia) and is translated into 13 languages ​​and taught in many Asian countries.

With a new format, Cha-Ching educates children aged 7-12 and adults about the importance of financial management, training and comprehensive development of smart financial management habits, revolving around 4 skills: Earning, Saving, Spending and Donating. Learn more about Cha-Ching at:https://www.cha-ching.com/