Prudential : Prudence Foundation launches Cha-Ching Money Adventures to foster greater financial literacy

21 Mar 2023

Prudence Foundation launches Cha-Ching Money Adventures to foster greater financial literacy

Study shows interactive game measurably improved children's financial literacy

Hong Kong, 21 March 2023 - Prudence Foundation, the community investment arm of Prudential plc has introduced Cha-Ching Money Adventures, a web-based interactive learning game to foster greater financial literacy among 7-12 year-olds, and encourage family dialogue about financial decisions.

Cha-Ching Money Adventures was created in partnership with Education Development Center (US-based not-for-profit education and health organisation) and Two Moos (Australia-based educational media design studio). In the game, players help the characters set financial goals, track earning and spending over time, and respond to unexpected financial events along the way. Players who successfully navigate all four modules of the game are rewarded with a final level - a stadium concert.

Marc Fancy, Executive Director of Prudence Foundation said, "Cha-Ching Money Adventures is the latest addition to the Cha-Ching ecosystem where, primarily through our curriculum-based programme, we provide children with crucial life skills, knowledge and values around money and money management. Financial literacy skills are traditionally not part of a school curriculum, and we created Cha-Ching to address this gap. With our newly launched game, we are also helping to bridge what is learnt in schools, to foster conversations within families which are equally as important."

EDC conducted an evaluation study of Cha-Ching Money Adventures to determine its appeal and effectiveness for children aged 8-9 year-olds playing the learning game at home. After two weeks of playing the game, children scored higher on a financial literacy assessment, while children in the control group showed no such improvement. Further, children who completed all four modules, repeated at least one module, and spent more than 90 minutes playing showed even greater learning gains relative to the control group.

Bill Tally, Senior Research Scientist, EDC who led the evaluation said, "The seeds of financial literacy are planted early, and it's encouraging to find that a digital game can deliver some core lessons about how to use money wisely."

The evaluation also revealed that Cha-Ching Money Adventures helped foster family conversations about money, an important contributor to children's financial literacy. 59 percent of players indicated that they talked "a lot" about the game with their parents, compared to only 33 percent of children in the control group. These family conversations covered a wide range of financial ideas, including the importance of being "money smart," specific ways to earn and save money, and how to find charitable causes to donate to.

Cha-Ching Money Adventures is accessible to anyone via https://www.cha-ching.com and is available in six languages - English, Thai, Vietnamese, Bahasa Indonesia, Bahasa Malaysia and French. Cha-Ching, Prudence Foundation's financial literacy programme, provides children with crucial life skills, knowledge and values around money and money management, based on the fundamental concept of Earn, Save, Spend and Donate, so that they can navigate a more financially secure and successful future.

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About Prudence Foundation
Prudence Foundation is the community investment arm of Prudential plc in Asia and Africa. Its mission is to create a better future for communities by making them safer and more resilient to life's risks. The Foundation runs regional programmes as well as local programmes in partnership with NGOs, governments and the private sector in order to maximise the impact of its efforts. Prudence Foundation leverages Prudential's long term mindset and geographical scale to make communities safer, more secure and more resilient. The Foundation is a Hong Kong registered charitable entity.

For more information please visit: www.prudencefoundation.com

About EDC
Education Development Center (EDC) is a global non-profit that advances lasting solutions to improve education, promote health, and expand economic opportunity. Since 1958, EDC has been a leader in designing, implementing, and evaluating powerful and innovative programs in more than 80 countries around the world.

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