Pandemic essentials: breaking through bad money habits

WHENthe government first implemented the Enhanced Community Quarantine (ECQ) from March 17 to the end of May 2020, a study released by AdSpark, Inc. — a portfolio company under Globe Telecom’s 917Ventures — revealed that searches and media consumption on personal finance as a topic grew by 800 percent among Filipinos. Now that the National Capital recommendation, BPI Foundation, Region (NCR) and adjacent areas are the social responsibility arm of once again under ECQ, it wouldn’t the Bank of the Philippine Islands be surprising if financial stress ( BPI), launched a mobile game and recovery would be among the called “Breakthrough: The Financial top most searched topics online, Choices We Make.” This is the first- as more Filipinos feel the impact of-its-kind mobile gaming app that of the situation on their finances. has the primary aim of educating The question in the minds of many Filipinos about personal finance would be: “How can we best manage while keeping them entertained. our money during these uncertain “Proper financial understanding times?” helps us make better- informed

In a World Bank ( WB) Policy decisions. It helps us manage our Research Talk in 2017, Bilal Zia, an money in good times and especially economist from the World Bank in bad times, just like this ongoing research department, gave an pandemic,” said BPI Foundation overview of a decade’s worth of Executive Director Owen Cammayo. research on what works and what Edutainment format doesn’t in boosting households’ “Breakthrough” is a board game financial capabilities. This includes played through an app that allows financial education. players to test their skills in personal

This groundbreaking research finance and show how financial prompted WB and its partner choices affect their daily lives. It is countries to shift towards people- available for free on Google Play and centric tools to i mprove t he the Apple App Store. understanding and use of financial “The intent of the game is to make services and products. For the learning about personal financial WB, “there is an unprecedented concepts more accessible, enjoyable, opportunity to use entertainment and effective,” said Cammayo. “This is media to change the lives of billions fully aligned with our commitment of people, especially in urban t o empower and enable our areas. Entertainment education or fellow Filipinos through financial edutainment can be a game-changer education.” for development.” Going a g a i nst Artif i c i a l

F o l l o w i n g t h e W B Intelligence (AI) opponents, players roll the dice to travel around the digital board. They will encounter common life events at every turn, and make “adulting” decisions that could affect their score. Should they save? Go on a vacation? Invest in stocks? Get insurance? Throughout the game, players will either amass or lose wealth depending on the path they decide to take.

The player has to make smart and practical decisions to gain the most assets, investments, and FinEd coins, and whoever ends with the highest net worth wins the game. Aside from the actual board game, the Foundation said that the app also includes a Financial Wellness Journal, quizzes, and tips for a more immersive learning experience.

With the mobile game format, BPI Foundation hopes to engage senior high school and college students,