Chile

2018 Chile Global Money Week

LEADING ORGANIZATIONS:

  • Central Bank of Chile

PARTICIPATING ORGANIZATIONS:

  • 60 civil society organizations
  • 1 school

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 35

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 285

Central Bank of Chile
Once again, the Central Bank of Chile participated in Global Money Week to highlight the importance of financial education in youth and schools. In 2018, the Bank organized two special events to support the international activities of GMW. The Week began with a high-level seminar held in the Central Bank of Chile auditorium. During the event, nearly sixty civil society organizations analyzed the current and forthcoming challenges in financial education within the Chilean educational system. Key speakers and specialists from national universities and public organizations participated in the event. The Week ended with a special visit from a school during which the students met the Governor of the Central Bank of Chile, Mr. Mario Marcel, watched animated videos about financial education issues, toured the coins and notes museum, and played a new financial board game developed especially for schools. A video was made to share all the activities and is available on the YouTube channel of the Central Bank of Chile.


2017 Chile Global Money Week

LEADING ORGANIZATIONS:

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 4 300

NUMBER OF CHILDREN REACHED INDIRECTLY:

  • 12 500

For the third consecutive year, the Central Bank of Chile and the Superintendence of Banks supported the Global Money Week initiative, reaching nearly 4000 young people. Various workshops and financial education classes were hosted by both organizations, covering a wide base of topics such as economic stability, consumer protection, digital financial services and savings. Visits to banks and the money museum were also part of the Global Money Week 2017 celebrations.

Additionally, for the second consecutive year, a Regional Rally was organized in Latin America. Organizations, associations, financial institutions, regulators and museums came together in Latin America for a competition via twitter, in which youngsters from 14 to 18 received questions about financial education, financial inclusion and entrepreneurship, which the participants had to complete in the shortest possible time to qualify for a prize. The Rally was a great coordinated effort, with eight participating organizations from the region: Child and Youth Finance International, Junior Achievement Americas, Amcham Foundation, Bancaribe, Central Bank of Chile and Asobancaria, along with Pequeño Cerdo Capitalista and the Interactive Museum of Economics, which made it possible to link youth from Argentina, Chile, Colombia, Mexico, Paraguay and Venezuela. During the dynamic activity, young people learned about the value of money, inflation, saving for their goals, saving for retirement and emergencies, economic citizenship and entrepreneurship in a unique and interactive way.


2016 Chile Money Week

LEADING ORGANIZATIONS:

PARTICIPATING ORGANIZATIONS:

DATE OF THE EVENT:

  • 14th - 17th of March

TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:

  • 1 690

TOTAL INDIRECT REACHED:

  • 1 535

The Central Bank of Chile participated this year in Global Money Week as one of the pioneering institutions in Latin America’s Regional Rally. In this activity, more than 10 organizations at the region level came together to take children and youth on an exciting adventure that encouraged them to learn about savings, about the benefits of saving money in formal financial institutions, about their own financial behaviors and about the challenges that youth face in today’s financial systems.

The Superintendence of Banks and Financial Institutions (SBIF) concentrated 2016’s Global Money Week activities in a public school in Lampa, a town near Santiago, attended by the region´s socio-economically vulnerable youth. The SBIF gave a lecture to explain the objectives of Child & Youth Finance International, Global Money Week and the importance of “save smart”. The students were also encouraged to participate in CYFI’s social media challenges throughout Global Money Week. SBS established an impressive 98% participation rate amongst the students in the GMW celebrations. Additionally, 700 students also engaged in the creation of a piggy bank that was 12x20 meters - what is likely to be the biggest piggy bank in the world!

2015 Chile Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 9th - 17th of March

NUMBER OF CHILDREN REACHED:

  • 500

For the second time Global Money week celebrations accompanied the efforts of the Financial Education working group, which included institutions from the private, public and civil society sectors. Financial Education activities took place in the capital and some provinces of the country. As it is tradition, the Central Bank of Chile participated with its program “Central en tu Vida”, an initiative which brought financial education activities to children, youth and adults in an interactive and fun way. Activities included a visit to the Central Bank Money Museum, which includes a collection of world bill notes, and a visit to an actual bank vault. BancoEstado also arranged a visit to its museum called “Museo del Ahorro” (Museum of Savings) which owns a wide variety of antiquities and coins related to the history of the bank and also of the country.

Additionally, SBIF prepared a guided visit to the Institution, which included a version of the interactive game Who wants to be a millionaire?. This game promoted financial education to the younger population. SERNAC also participated with a board game called “Compra Bien”, which allowed youth to learn about the rights and duties of consumers, savings and financial concepts in a fun way.

Proyecto Capital, which supports the implementation of public policies that link social protection with inclusion in the financial systems in Latin America, also raised awareness for its cause during GMW.

2014 Chile Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 17th of March

NUMBER OF CHILDREN REACHED:

  • 600

PRESS:

Fondo de Solidaridad e Inversión Social (FOSIS), Banco Central de Chile, Super Intendencia de Bancos e Instituciones Financieras (SBIF), Servicio Nacional del Consumidor (SERNAC), Banco Estado Microempresas and Proyecto Capital - Instituto de Estudios Peruanos, are all organizations that form part of the Financial Education Working Group known as MEF. This working group planned and executed a very exciting event for this year’s Global Money Week. The MEF focused its activities in the primary school Colegio Marqués de Ovando, where the savings and financial education program had been running for around 13 years. Altogether, children who had participated in this program had saved on average USD26 000 each year for the last 3 years! The activities organized by the MEF were focused around five main topics: the power of saving, budget management, the financial system, responsible debt, and the duties and rights of consumers. Global Money Week 2014 created a benchmark for the coordination of activities done by the MEF. The group sought to implement coordinated activities to continue advancing the topics of financial education and financial inclusion in the country, with the aim of promoting the National Financial Education Strategy.

A Financial Education tournament "You Decide" was organized by FOSIS. The game sought to teach participating students about the different economic situations faced by a family in a year. Through 4 financial variables (savings, home expenses, financial debt and income) players could appreciate the correlations between certain financial decisions. The winner was the player who managed to meet all the goals related to these 4 variables before the rest of the players. The game was guided by a tutor who acted as the "Bank". The role of the bank was to make players reflect on an unfortunate decision and to encourage good financial behavior.

A dialogue with Marquis de Ovando College students was set up about the importance of financial inclusion and education, their dreams and how savings and sound financial decisions can contribute to a better future. Emphasis was placed on the importance of recognizing and valuing initiatives such as those promoted by the Marquis de Ovando College, which implemented the "Ahorra o Nunca" project for the past 15 years. This project encouraged students to open savings accounts in the State Bank while they were at school so that they could start saving early and learn how to make wise financial decisions while they were in a supportive environment. Both SBIF and SERNAC delivered innovative conceptual and methodological approaches to the children, teachers and administrators of the College on power saving, responsible lending and the duties and rights of using consumer tools.

Central in Your Life, an outreach program run by the Central Bank of Chile, explained complex economic concepts and processes in an easy and entertaining way to children and youth so they could better understand jargon which will allow them to make informed financial decisions, improving their future quality of life. The lessons that the youngsters learned will have a multiplier effect as children actively share information with their families and communities.

2013 Chile Money Week

NAME OF THE ORGANIZING ENTITY:

  • Ministry for Social Development

DATE OF THE EVENT:

  • 14th and 15th of March

NUMBER OF CHILDREN REACHED:

  • 50 000

PRESS:

  • 13. cl
  • Meganoticias.cl
  • Nacion.cl

Global Money Week in Chile was marked by the launch of the financial educational game called “You Decide” which was part of the Social Risk Program. The Social Development Minister Joaquín Lavín visited 7 and 8 grade students from the outskirts of Santiago to introduce to them the board game that teaches young Chileans how to manage real-world financial situations. The game was developed by the government’s social investment bureau, FOSIS, and was used by 50,000 students in 200 schools across the country. The game, which was given to schools, allows both children and their guardians to understand the key concepts for properly managing budgets, saving and responsible indebtedness. Parents asked where they could buy the game since they want to play it with their neighbors and family! Similarly, there are schools in rural areas of southern Chile that demanded all their teachers learn how to play the game and teach it to their pupils!

We are doing this with the children ... because in a few years they will have access to credit cards for shops and banks, and today 30 percent of young people in Chile have debts, Joaquín Lavín, The Social Development Minister commented.
This game teaches us to choose between what we need and what we want. It teaches us to fulfill goals through saving money, said Macarena (12)