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Effect of Daily Allowance

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Media Releases BSP Conducts Learning Outreach Activities in Dipolog City | 08.06.2015The Bangko Sentral ng Pilipinas (BSP) will conduct the fourth leg of its Economic and Financial Learning Program (EFLP) for 2015 in Dipolog City on 10 to 13 August 2015. The EFLP consolidates the learning outreach activities of the BSP under one flagship program. It includes a series of learning sessions that aim to promote greater public awareness and understanding of key economic and financial issues. The EFLP also embodies the goal of the BSP to promote economic and financial education among its stakeholders, who can then become more effective partners of the BSP in safeguarding price stability and in ensuring a stronger and safer banking and payments system.The following programs will be conducted: * “Project BRO (BSP Reaches Out),” a savings campaign for kids and teens from Grade 1 to Grade 10, scheduled on 10 August 2015, Monday, Dipolog Pilot Demonstration School (8:00 to 11:00 a.m.) and St. Vincent School (1:30 to 4:30 p.m.); and 11 August 2015, Tuesday, Zamboanga del Norte High School (8:00 to 11:00 a.m.), and St. Mary’s Academy (1:30 to 4:30 p.m.); * “Be up to SPeed on BSP,” Information Campaign on the Role of the BSP in the Economy, 11 August 2015, Tuesday, 1:30 to 4:30 p.m. (module for the workforce), and 12 August 2015, Wednesday, 8:30 a.m. to 12:00 noon (module for students), Ariana Hotel; * Financial Education Expo for the Working Sector, 12 August 2015, Wednesday, 8:00 a.m. to 4:00 p.m., Top Plaza Hotel; * “Paghahanda sa Kinabukasan,” Financial Learning Campaign for Overseas Filipinos and their Beneficiaries, 13 August 2015, Thursday, 8:00 a.m. to 2:00 p.m., Ariana Hotel; and * Financial Education Expo for Students and Members of the Academe, 13 August 2015, Thursday, 8:00 a.m. to 4:00 p.m, Top Plaza Hotel.“Project BRO (BSP Reaches Out)” is a savings campaign for kids and teens from Grade 1 to Grade 10 across the country, both from public and private schools. This new learning session, which was launched in Davao City on 6 July 2015, forms part of the BSP’s efforts to foster the habit of saving early in the lives of Filipinos. It features interactive lectures and discussions about the value of spending wisely, saving early, and saving in banks. After the session, the BSP will track the students’ saving habits by closely coordinating with teachers and school officials for the purpose of encouraging the youngsters to open and grow savings. This learning activity is in partnership with the Department of Education (DepEd) and the Bank Marketing Association of the Philippines (BMAP). The “Be up to SPeed on BSP” information campaign will cover recent economic developments and the role of the BSP in the economy, with emphasis on the three pillars of central banking, i.e., price stability, financial stability and efficient payments and settlements system. Two sessions will be conducted: one for professionals (including representatives from government agencies, business sector, and banking community), and another for students and members of the academe. The “Paghahanda sa Kinabukasan” Financial Learning Campaign for Overseas Filipinos and their Beneficiaries (FLC-OF) aims to educate participants on the importance of using remittances to build up savings and directing these into investments in financial products and business ventures. Through this learning advocacy, the BSP hopes to help overseas Filipinos and their beneficiaries achieve financial security, bring them into the fold of the formal financial system, and enable them to participate more meaningfully in the country’s economic development. Officials from the BSP, as well as from the Department of Trade and Industry (DTI), will give briefings on topics such as financial planning, investment, and business opportunities.Meanwhile, the Financial Education Expo offers various financial education activities for students, professionals and others from the public and private sectors. It features learning booths with audio-visual presentations, graphic displays and interactive activities that will help participants become self-reliant in promoting their financial welfare. Two separate sessions of the Financial Empowerment Course, which is an integral part of the Expo, will also be conducted for students and members of the workforce. The learning sessions will present the importance of financial education, the Philippine financial system, basics of budgeting, saving, investing and borrowing, financial planning for life-cycle events, and credit card awareness.Interested parties may contact Ms. Michelle N. Andres at telephone number (+632)708.7275 or email address aandres@bsp.gov.ph. | | | http://www.bsp.gov.ph/publications/media.asp?id=3805 Media Releases BSP Kicks-Off "Project Bro" | 07.06.2015The Bangko Sentral ng Pilipinas (BSP) kicks-off “Project BRO (BSP Reaches Out) – A Savings Campaign for Kids and Teens” on July 6 in Davao City as part of the BSP’s sustained efforts to foster the habit of saving early in the lives of Filipinos.The campaign was developed by the BSP’s Financial Consumer Protection Department (FCPD) for Grade 1 to 10 students (or their equivalent levels) from both public and private schools across the country.To encourage saving, a Project BRO team from the FCPD will engage the students in fun-filled activities and interactive talk about the value of spending wisely, saving, and the benefits of opening a bank account.After the learning session, the team will track the students’ saving habits by closely coordinating with teachers and school officials for the purpose of encouraging the youngsters to open and grow savings in a “Kiddie Savings” account.The Kiddie Savings program is a joint initiative of the BSP and the Bank Marketing Association of the Philippines (BMAP) that allows school children to open bank accounts with an initial deposit of as low as Php 100.For this year alone, FCPD will also spearhead the project in the cities of Digos, Dipolog, Cagayan de Oro, Cebu, Bacolod, Iloilo and Ormoc this year. The BSP is implementing the project in cooperation with BMAP and the Department of Education.According to FCPD, international best practice in financial education underscores the importance of teaching kids about money matters early in life. Some studies also note that those who began saving during their childhood display better attitudes toward savings than those who did not. | | |

http://www.bsp.gov.ph/publications/media.asp?id=3773
Media Releases Governor Tetangco Signs Deed of Donation and Opens "Money Matters for Kids" Exhibit | 08.09.2011Governor Amando M. Tetangco Jr. received on Tuesday, 09 August 2011 the "Money Matters for Kids" exhibit materials at the Galeriya Bangko Sentral, Metropolitan Museum, Roxas Boulevard, Manila from donors Citi Foundation, Museo Pambata Foundation, Inc. and Philippine Business for Social Progress.With the signing of the Deed of Donation, the 3-month long exhibit at the same venue was formally opened. The donors were represented by Sanjiv Vohra of Citi Foundation, Executive Director Rafael Lopa of the Philippine Business for Social Progress and Executive Director Maricel P. Montero of the Museo Pambata. They were joined by senior officials of the BSP led by Governor Tetangco and Deputy Governor Juan D. de Zuñiga, Jr.The BSP will henceforth become the permanent home of the exhibit. The Money Matters for Kids travelling exhibit is a fun and interactive way for children aged 2 to 12 years old to learn about the concept of money, saving, spending and sharing and the importance of saving for the future. This exhibit first opened in Museo Pambata before it travelled around various malls and community centers reaching an estimated 90,000 kids since its launch in 2009. The exhibit features several interesting activities. There is a make-believe bank where children can pretend to be bank tellers and bank managers. The bank also comes with a toy ATM where kids can pretend to put in their card and punch in their PIN code. At the same time, the toy ATM teaches them the meaning of withdrawals and deposits, savings and current accounts. "Spot the Difference" which features two giant bills will help children to distinguish between fake and real bills. Children can also scan their money under an ultraviolet light so they can see the security features. Another exciting activity is a grocery shop which will help kids identify between needs and wants.The BSP accepted the donation in line with the objectives of its integrated Economic and Financial Learning Program and in line with its thrust to promote financial education. Financial Education has been the BSP's defined advocacy since 2004 which aims to enhance awareness, develop basic skills and build a culture of saving and responsible investment among the Filipino people. The travelling exhibit is envisioned to be brought to various elementary schools in different cities, municipalities and provinces around the country. By teaching the value of money at a very young age, the BSP aims to help children grow up to be wise savers, careful spenders and smart consumers.The "Money Matters for Kids" Exhibit will be open to the public at the Metropolitan Museum, Roxas Boulevard, until 29 October 2011. | | | | |
http://www.bsp.gov.ph/publications/media.asp?id=2653

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