Schoolchildren get tips on how to be financially literate.

Sunday May 18, 2008
Managing money
By ANDREA FILMER
Schoolchildren get tips on how to be financially literate.

THERE seemed to be a disagreement. The Standard Four boys of SRK Bagan Tuan Kechil were of the opinion that cake was a 'necessity' while the girls insisted that it was more of a 'want'.

The difference between needs and desires was one of the activities organised by Standard Chartered Banking Apprentices, as part of the bank’s Financial Literacy Campaign.

Aimed at arming the younger generation with financial knowledge, the nationwide campaign recently launched in Penang.


Wynter jokes about the magic of money and savings with some of the students.

“Bank Negara Malaysia identified 81 schools across the country to be adopted by Standard Chartered Bank Malaysia Bhd under the School Adoption Programme.

“In line with the programme, our bank was required to distribute financial leaflets to students to help teach them money management and saving,” said Standard Chartered managing director and chief executive officer Julian Wynter during the launching.

Deciding to take the programme one step further, Wynter requested members of the bank’s Banking Apprentice Programme to design financial management workshops for primary and secondary schools.

“We treated the campaign exactly like a product launch – it was first tested on students in Kuala Lumpur, Selangor and Negri Sembilan and parents as well as school principals were consulted in formulating the workshops.

“Banking Apprentices, who are mostly fresh graduates in their early twenties, seemed like the perfect ones to create the programme as they could relate well to the children,” said corporate affairs head Zaiton Idrus.

She added that the campaign would span over three years with the bank revisiting schools with follow-up programmes.

The first session held in Butterworth saw three young jeans-clad graduates acting out the barter trade and leading the students in financially-themed singing sessions.

The apprentices’ enthusiasm, brightly coloured props and cute Standard Chartered teddy bear prizes was a winning combination with the 10-year-old students, who clamoured to answer questions posed by the graduates.

The one-hour session included story-telling on the history of currency, the differences of ‘needs versus wants’, advice on how to plan one’s spending and a ‘Save, Spend and Share’ theme song.

“The acting was fun to watch,” said Humaira Aishatul Hanim Mokhtar.

She added that it was an enjoyable session as she had learnt new things. “My parents always taught me to save, but I never knew how money was created,” she said.

“I only spend 50sen of my allowance daily,” said her classmate B. Sugehrsen. “When I get enough, I’m going to put it in the bank,” he said.