Pinoy youth urged to save money

MANILA, Philippines - The Department of Education (DepEd) and the Bangko Sentral ng Pilipinas (BSP) reminded young Filipinos to make it a habit to save so they will have money to spend in times of need.

The two agencies made the call over the weekend as the nation marks the National Savings Consciousness Week from June 30 to July 6.

The National Savings Consciousness Week was aimed at inculcating the habit of saving among Filipino schoolchildren, according to Education Secretary Armin Luistro.

“Our students should not underestimate the impact of saving loose change and excess coins from their daily allowance. If they make it a habit, without realizing it, they may have saved enough to buy what they want or need,” Luistro said.

BSP Governor Amando Tetangco Jr. urged Filipino children to deposit their savings in a bank where it is safer and can earn interest as well.

In 2007, the DepEd, BSP, and the Ateneo de Manila University launched a financial literacy project in public elementary schools.

The DepEd and BSP have earlier completed the “Tulong Barya Para sa Eskwela” project, where loose change were collected for school projects. The campaign has generated P15 million, DepEd said.