JA Philippines has officially launched the third year of its groundbreaking JA Personal Finance™ program, a crucial initiative aimed at enhancing financial literacy among Grade 11 Senior High School students across the nation. Sponsored by Wells Fargo, this program focuses on equipping students with essential financial skills, including earning, budgeting, saving, investing, and responsible credit use.
Wells Fargo’s support of the program is aligned with its focused approach to making a difference in the communities where it has a footprint, reflecting its commitment to promoting financial literacy and equipping the next generation with tools for an empowered and financially secure future.
“We’re proud to continue our partnership with JA Philippines for the third consecutive year,” said Mr. Mike Whyte, Wells Fargo Philippines Country Head. “Helping others succeed financially is at the core of what we do, and through this program, our Filipino high school students are equipped with real life skills that will help them thrive as adults. It’s a wonderful advocacy and truly a great fit.”
August 30, 2024 | Marquis Events Hall, BGC, Taguig — JA Philippines has officially launched the third year of its groundbreaking JA Personal Finance™ program, a crucial initiative aimed at enhancing financial literacy among Grade 11 Senior High School students across the nation. Sponsored by Wells Fargo, this program focuses on equipping students with essential financial skills, including earning, budgeting, saving, investing, and responsible credit use.
Building financially literate Filipinos
The JA Personal Finance™ program goes beyond just managing money; it’s about empowering individuals with the knowledge to make informed financial decisions. Participants will recognize the fundamental elements of financial planning—how to make money, spend wisely, and use credit cautiously. This initiative supports one of JA’s core pillars: financial literacy.
Opening the event, Krishna Alejandrino, Executive Director of JA Philippines, emphasized the program’s significance in shaping the financial futures of young Filipinos.
Bandana Jha, Head of Philanthropy & Community Impact, India and the Philippines, Wells Fargo, followed with a message highlighting Wells Fargo’s ongoing commitment to supporting financial education in the Philippines.
“Wells Fargo remains deeply committed to fostering financial literacy among young Filipinos. Through the JA Personal Finance™ program, we are not just imparting knowledge but empowering students to make informed financial decisions that will shape their future,” said Jha.
“This program is a testament to our belief that financial education is essential for personal growth and community development. We are proud to partner with JA Philippines in nurturing a generation that is not only financially literate but also ready to contribute meaningfully to society,” she added.
Data as recent as 2022 show that only 25% of Filipinos are financially literate, placing the country in the bottom 30 out of 144 countries globally. The challenges include economic priorities, cultural barriers, limited access to financial services, and the prevalence of misinformation and predatory practices. Through initiatives like JA Personal Finance™, and with the support of government, private sectors, financial institutions, universities, media, families, communities, and NGOs, JA Philippines aims to improve this statistic significantly.
Kick-off program
Now in its third year, the JA Personal Finance™ program has seen continuous improvement and expansion. This year, the program will integrate financial literacy into the national curriculum, particularly in Math and Values Education, following the signing of a regional MOA with the Department of Education (DepEd). Additionally, teachers will receive specialized training through the Professional Regulation Commission (PRC) to better implement these concepts in classrooms.
The kick-off program’s keynote speech underscored the importance of financial literacy in a country projected to be one of the largest economies by 2037. With a young population and a demographic golden age on the horizon, solid financial education has the potential to double or triple the percentage of financially literate Filipinos, thereby creating a ripple effect of economic growth.
The event also featured a panel discussion, the recognition of volunteers and leaders, and the awarding of certifications to program graduates. The program continues to evolve, expanding its reach and impact, and ensuring that the next generation of Filipinos is better equipped for financial success.
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About JA Philippines
Established in 1967 and formally organized in 1969, JA Philippines is a non-stock, nonprofit organization that administers Junior Achievement programs in the country. The organization is part of the global JA Worldwide® network and is dedicated to inspiring and preparing young people to succeed in a global economy.
About Wells Fargo International Solutions, LLC – Philippines
Wells Fargo International Solutions LLC – Philippines is a critical component of Wells Fargo’s (Wells Fargo Bank, N.A.) strategy to leverage distinct advantages in doing business in a global environment.
Wells Fargo International Solutions LLC – Philippines enables talent capabilities worldwide to help drive innovation within a constantly evolving environment. It provides operational, functional, and technical expertise to assist the operations, knowledge services, and corporate support teams of Wells Fargo. It facilitates greater efficiency and helps improve service effectiveness in international operations, knowledge support, front-end customer service, and middle and back-end business process solutions for a wide spectrum of Wells Fargo’s needs.
