Money management for kids
ALLIANZ Malaysia conducted its third My Finance Coach (MFC) class for the year for 126 pupils of SK Methodist in Petaling Jaya.
In collaboration with the Federation of Malaysian Consumer Association (Fomca), the class which involved pupils from Years Four and Five was rolled out with the aim of improving financial literacy levels among children.
The lesson included differentiating between needs and wants, recognising tools used in advertisements and learning about the different buying criteria that influence consumers’ decision-making.
“Through the MFC Programme, we are hoping to cultivate good money management habits among the pupils from a young age in hopes that they become more responsible and prudent with their finances,” said Allianz Malaysia Head of Allianz4Good Ng Siew Gek.
My Finance Coach is a non-profit initiative founded in Germany in 2010 by partner companies Allianz, Grey and McKinsey.
It is a financial literacy pro- gramme aimed at improving the money management skills of young people. Under the My Finance Coach programme, employee volunteers trained as Finance Coaches pair up to conduct classes in schools and non-profit organisations.
Since the implementation of My Finance Coach in Malaysia in January 2012, it has reached over 11,800 pupils in 114 schools and organisations throughout the country.