Financial literacy initiatives target youth and children

Efforts are being made to promote financial literacy among youth through both institutional workshops and home-based guidance. In a recent initiative, the local government, through DIF and the Secretariat of Economic Development, conducted a ‘Basic Financial Education for Youth’ workshop. The program focused on practical skills such as managing initial income, organizing personal expenses, budgeting, and distinguishing between needs and wants to foster autonomy and responsibility.

Complementing these institutional efforts, experts suggest that financial education should begin at home. Psychologist Judith Sierra recommends introducing money concepts to children as early as ages 3 to 5 by using routine examples to teach prioritization. By discussing money naturally and demonstrating the relationship between effort and income, parents can help children develop essential habits like self-control and disciplined saving.