2 valuable lessons to promote money-smart Christmas among your kids

Pru Life UK has mounted a second webinar under its Cha-Ching Kid$ at Home program. Held on December 5, 2020, the life insurer teamed up with Prudence Foundation (the community investment unit of Prudence plc) and Junior Achievement Philippines to teach parents and kids about a more purposeful celebration of Christmas through Cha-Ching Kid$ at Home: Money-Smart and Meaningful Holidays for Filipino Families.

“While this Christmas season comes amid unprecedented times, the joyous spirit of the holidays remains and thrives,” said Pru Life UK Senior Vice President and Chief Customer Marketing Officer Allan Tumbaga. “We hope that by extending the Cha-Ching money management values to families at this time of the year, we will be able to help them have a more money-smart and meaningful celebration.”

This virtual event was aligned with the company’s We DO education commitment, which promoted financial literacy in the country. Beyond the webinar, Cha-Ching Kid$ at Home offers a set of printable resources that parents can use to teach their children basic money management concepts like Earn, Save, Spend, and Donate. The modules were created by Pru Life UK and Prudence Foundation.

“While Christmas can be an extravagant celebration, many of us are feeling the blow of the pandemic,” said Prudence Foundation Executive Director Marc Fancy. “We hope Cha-Ching Kid$ at Home provides people with helpful and useful money management tips, especially on saving and donating. Then hopefully, everyone can still feel and share in the Christmas spirit even though traditional festivities may be disrupted.”

Here are two valuable lessons on how to teach kids about the value of observing a money-smart Christmas.

1. Cut back on gifts, holiday shopping, and décor expenses.

“When you shop at sale events, be sure to know the actual price of the item, and keep in mind that you should only buy what you need and not because it is cheap,” said family and finance expert Rose Fres Fausto, who also runs blog ad YouTube channel FQ Mom. This advice is among her ‘Christmas FQripot Tips, which she shared during the webinar.

In her talk, ‘Holidays on a Budget: How to Have a Merrier Christmas by Spending Less,’ she advised consumers to be more mindful not to easily give in to big discounts and sales promos. Fausto emphasized the importance of instilling this lesson as parents teach kids about financial literacy.

 

2. Teach kids about charity at a young age.

“For children to embrace the value of giving, we must provide them the opportunity to experience the joy of it. That way, it would be easier for them to practice giving back to the community as they grow up,” said TV show host Edric Mendoza, who is also the Chairman of Homeschool Global Learning Inc. and President of The Parentschooling Co.

In his talk, ‘Meaningful Holidays: Ways You Can Give Back to Your Community,’ Mendoza encouraged other fellow parents to start teaching kids about charity at their young age. His three children also made a special appearance during the webinar to talk about buying gifts for the family with a budget.