Global Money Week

2017 Chile Global Money Week

Leading Organizations:
Banco Central de Chile
Superintendencia de Bancos e Instituciones Financieras

Number of children reached directly: 4 300
Number of children reached Indirectly: 12 500

For the third consecutive year, the Central Bank of Chile supported the Global Money Week initiative through its social networks. Through their social channels, the Central Bank and the Superintendence of Banks invited young Chileans to join in the celebrations for the GMW 2017, reaching nearly 4000 young people who took part different activities.

Various workshops and financial education classes were hosted by both organizations, with topics as diverse 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 to provide a competition via twitter, in which youngsters from 14 to 18 received clues about financial education, financial inclusion and entrepreneurship questions, which the participants had to complete in the shortest possible time to qualify for a prize.

The Rally was a great coordination 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, young people learned about the value of money, inflation, why to save for their goals, retirement and emergencies, economic citizenship and entrepreneurship in a unique and interactive way.


2016 Chile Money Week

Leading Organizations:
Superintendencia de Bancos e Instituciones Financieras - Chile
Banco Central de Chile

Participating Organizations:
Complejo Educacional Manuel Plaza Reyes - Lampa
yousobienmidinero


Date of the event:
14th - 17th of March


Total number of children & youth engaged: 1 690
Total indirect reach: 1 535

The Central Bank of Chile participated this year in Global Money Week as one of the pioneering institutions of 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 Superintendencia de Bancos e Instituciones Financieras (SBIF) concentrated this year’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 massive lecture to explain the objectives of Child and Youth Finance International, Global Money Week and the importance of “save smart”. The students were also encouraged and reminded to participate in CYFI’s social media challenges throughout Global Money Week, the international symbol of saving. SBS established an impressive 98% participation rate amongst the students in the GMW celebrations. Additionally, 700 students also engaged in the creation of what is likely to be the biggest piggy bank in the world with 12x20 meters!

 

2015 Chile Money Week

Participants:
Banco Central de Chile
Banco Estado
Fondo de Solidaridad e Inversión Social
Proyecto CapitalSuper Intendencia de Bancos e Instituciones Financieras
Servicio Nacional del Consumidor
Date of the event:
9th - 17th of March
Number of children reached:
500

For the second time Global Money week celebrations accompany the efforts of the Financial Education working group, which includes 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 thought to bring financial education in an interactive and fun way not only to children and youth, but to grown-ups as well. Central en tu vida, activities included a visit to the Central Bank Money Museum, which includes a collection of world bill notes, and 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’s.

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 aims to promote financial education to the younger population. In this context, SERNAC also participated with a board game called “Compra Bien”, which allows to learn playfully about the rights and duties of consumers, savings and financial concepts.

Finally, this instance had the collaboration of Proyecto Capital, which supports the implementation of public policies that link social protection with inclusion in the financial systems in Latin America.

 

2014 Chile Money Week

Participants:
Fondo de Solidaridad e Inversión Social
Banco Central de Chile
Super Intendencia de Bancos e Instituciones Financieras
Servicio Nacional del Consumidor
Banco Estado Microempresas and Proyecto Capital
Instituto de Estudios Peruanos
Proyecto Capital
Date of the event:
17th of March
Number of children reached:
600
Press:
epaper.pulso.cl
www.proyectocapital.org
www.bcentral.cl
www.hubsustentabilidad.com

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.

During Global Money Week 2014 the MEF focused its activities in the primary school Colegio Marqués de Ovando, where the savings and financial education program has been running for around 13 years. Altogether, children who have participated in this program have saved around 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 in the coordination of activities done by the MEF. The group seeks 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 Game "You Decide" tournament was organized by FOSIS. The game sought to teach participating students about the different economic situations faced by a family in a calendar year. Through 4 financial variables (savings, home expenses, financial debt and income) players can appreciate the correlativity between certain financial decisions. The winner is the player who has met all the goals related to these 4 variables before the rest of the players. The game is guided by a tutor who acts as the "Bank". The role of the bank is to make players reflect after an unfortunate or unsound decision and to encourage good financial behavior.

A dialogue with Marquis de Ovando College students 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 has implemented the "Ahorra o Nunca" project for the past 15 years. This project encourages students to open savings accounts in the State Bank while they are at school so that they can start saving early and learn how to make wise financial decisions while they are in a nurturing environment. Both SBIF and SERNAC have 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 is an outreach program run by the Central Bank of Chile explains complex economic concepts and processes in an easy and entertaining way so that children and youth better understand terms so that they can make more informed decisions and improve their future quality of life. The lessons that the youngsters learn will have a multiplier effect as children readily share information with their families and communities.

 

2013 Chile Money Week

Name of 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;

Parents have asked where they can buy the game since they want to play it with their neighbors and family. Global Money Week in Chile was marked by the launch of the financial educational game called “You Decide”. 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 aims at teaching 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.

This game is part of Financial Education in schools and the Social Risk Program.

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)

There are schools in rural areas of southern Chile that demand all their teachers to learn how to play the game and teach it to their pupils.

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