BSP exhibit teaches financial literacy to kids

Elementary children have the chance to play the roles of bank managers and tellers to know the concept of deposits and withdrawals through a make-believe bank and a mock-up Automated Teller Machine (ATM).

These were among the features of the “Money Matters for Kids” or MMK exhibit which was launched at Bangko Sentral ng Pilipinas (BSP) regional office yesterday.

The MMK is an interactive exhibit on financial literacy designed to provide the elementary students with a fun way of learning the concepts of money, saving, spending, sharing as well as the importance of saving for the future.

Dr. Johnny Noe E. Ravalo, assistant governor of the BSP’s Financial Supervision Research and Consumer Protection Sub-Sector, said financial literacy must be introduced to the children for their future.

“We have this exhibit because we care for the economy, Cebu as a province, and we care for the individuals,” Ravalo said.

“Financial literacy is a process that they need to learn through different teaching methods,” he added.

Crayons, playing cards, coloring books and other hands-on tools are provided to encourage the kids to play and study while exploring money-related themes.

Other parts of the exhibit include introducing children into the history of money and its different shapes.

Money of other countries are also displayed as well as fake and real money to spot the differences.

There is also a section for budgeting where there is a grocery store and a card and what they need on their budget.

Lawyer Leonides B. Sumbi, acting director of BSP regional office, said the exhibit is open to the public on weekdays from Nov. 4 until Nov. 14 from 8:30 a.m to 5 p.m at the BSP regional office at Osmeña Boulevard and P. Del Rosario Streets, Cebu City.

This is the first time that the exhibit was brought in Central Visayas after it was launched in 2011 at Metro Manila which already reached a total of 19,906 children and adult exhibit viewers.