Prudential and JA Vietnam implement Cha-Ching Curriculum across Hanoi

The signing ceremony was held in Hanoi under the witness of the Ministry of Education and Training

Based on the globally-recognised and award-winning financial literacy programme Cha-Ching Money Smart Kids, the partnership with JA Vietnam is expected to benefit up to 7,336 children from 31 primary schools in Hanoi in the 2019-2020 academic year and will expand nationwide in the coming years.

Building on the success of the Cha-Ching, Prudence Foundation has partnered with Junior Achievement Asia-Pacific in 2016 to develop an enhanced Cha-Ching Curriculum that supports teachers in instilling money-smart skills in students’ daily life. Since then, the curriculum has been actively implemented in public primary schools for Grade 4 students by teachers in eight markets: the Philippines, Malaysia, Indonesia, Cambodia, Taiwan, Singapore, Thailand, and Vietnam. Since its launch in 2017, the curriculum has reached more than 380,000 students, with over 8,000 teachers trained to deliver the financial literacy programme.

With the endorsement of the Ministry of Education and Training of Vietnam, the curriculum will be rolled out broadly to 163 teachers who will take part in a to two-day training on the Cha-Ching Curriculum contents and teaching methods. In addition, teachers will also take part in the introductory course and the Cha-Ching Financial Certificate (CCFA) assessment course at the end of the project.

After the training session, teachers will be able to embed the four key money management concepts of Earn, Save, Spend, and Donate in students' daily lives. The Cha-Ching Curriculum is a structured programme that consists of six 45-minute modular sessions, with each session taught to students through active, fun, and hands-on learning, encouraging them to put into practice the knowledge acquired.

Overall, the Cha-Ching programme had a strong educational impact on the students who participated in Vietnam. According to JA Vietnam’s survey, Cha-Ching Curriculum is evaluated as a school-appropriate curriculum that enables easy access and implementation to support the growing and critical need for financial literacy education in Vietnam. Through a variety of hands-on activities designed to support differentiated learning styles, students can learn money basics and recognise the significance of money management in making informed life-decisions.

The survey also indicated that 100 per cent of students agreed that the curriculum made school more interesting, 100 per cent of students agreed that what they learned in the curriculum is important in real life, and 100 per cent of students agreed that the curriculum made them realise that when it comes to money, considering the four options (Earn, Save, Spend and Donate) is important.

Clive Baker, CEO of Prudential Vietnam, expects that the strategic partnership will help Cha-Ching Curriculum benefit more students

Clive Baker, CEO of Prudential Vietnam and Board of Trustee for Prudence Foundation, said, “Financial literacy is a critical life skill, however, this important subject is absent from most educational systems. Providing children with solid foundations and a good understanding of the basic money management concepts early on will significantly contribute to their ability to lead a sustainable lifestyle and contribute to their country’s long-term development. Following the success of Cha-Ching Money-Smart Kids programmes, the Cha-Ching Curriculum initiative will help us to reach as many children as possible in Vietnam from an early age to help build a financially literate and responsible future generation.”

Doan Bich Ngoc, CEO of JA Vietnam, added: “Financial management is an essential skill in life and for career development. If you cannot manage well what you have, you will not be able to gain any more value in life. Early education on financial management is not forcing your children to earn money but teaching them to understand the value of money, thus building good habits, developing themselves, and being more responsible in life.”

“Early education on financial management skills for elementary school children is critical as this will significantly contribute to their career development. Possessing financial management concepts and skills allows students to understand smart money earning and spending, and to appreciate the value of money. This will encourage them to create sustainable values for themselves and their communities,” said Bui Tien Dung, project secretary of Project 1665 on "Supporting students in starting up businesses till 2025", Department of Student Affairs, Ministry of Education and Training.

Based on a study conducted by the Asia Development Bank Institute in 2017 using the financial literacy survey instrument developed by OECD/INFE, Vietnam’s financial literacy score of 12 out of 21 is at the lower end compared to OECD-surveyed countries. This has a key impact on issues such as household debt, lending and borrowing, consumer protection, and savings. As the country’s economic development continues to grow, and financial inclusion becomes more and more widespread, it is critical that financial literacy plays a key role to ensure individuals are equipped with the appropriate financial knowledge and skills to make sound money decisions.

In Vietnam, children have grown familiar with Cha-Ching via various ground events and activities such as the Cha-Ching Fun Day nationwide, as well as via the School Contact Programme. In 2016, Cha-Ching was also launched in Boomerang Vietnam via PoPs TV Kids YouTube channel, the Number 1 digital channel for children in Vietnam.

In 2017, Cha-Ching was brought into Vietopia and KizCiti, two highly popular edutainment centres for children. The Cha-Ching curriculum aims to reach Vietnamese children from an early age to provide them with the knowledge and skills to build responsible financial behaviour throughout all stages of their lives.

Cha-Ching aligns with the United Nation’s Sustainable Development Goal No.4: Ensure inclusive and quality education for all and promote lifelong learning.

Besides the signing ceremony, 163 teachers attended the seminar on financial literacy for students