Teaching Financial Literacy through Play

In partnership with the Hungarian subsidiary of MetLife, United Way Hungary recently launched a new program to promote financial literacy among schoolchildren aged 9-11. The program is part of MetLife’s the LifeChanger. It targets different age groups and is fully financed by the MetLife Foundation.

This Spring LifeChanger will engage some 700 elementary school children nationwide as well as 70 MetLife volunteers.

 The II. Rákóczi Ferenc member school of Kodály Zoltán Central Elementary School in Kaposvár was the first to implement the LifeChanger Program and will be followed by an additional four elementary schools nationwide in spring 2017. The five schools in Kaposvár, Baktakék, Fegyvernek, Budapest and Isaszeg were selected through an open application process. The development of the curriculum was managed and coordinated by United Way Hungary. The non-profit organization actively participates also in the implementation of LifeChanger Program as a specialist partner of MetLife Hungary.

Schoolchildren learn about the challenges of managing family finances and making responsible financial decisions through real-life scenarios in a playful and entertaining manner. At the same time, they also learn about active citizenship by discussing what charitable actions mean and making collective decisions on causes to support. The main character of the program is a piggybank whose four compartments (spend, save, invest, donate) help children get a basic idea of personal finances.

LifeChanger financial education program

This year’s LifeChanger program comes with a contest and winners are invited to visit the Budapest offices of MetLife at the end of April to gain an insight into the everyday work of people working in the financial and insurance sector.

“We are committed to support the development of young generations, and therefore I am very pleased that LifeChanger was extended to include elementary school kids this year. Experience shows that the sooner we start the financial education of children, the higher the chances are of raising a generation with high financial literacy. Pocket money is one of the first ways children can learn the basics of managing money responsibly. We received many positive feedbacks from teachers, students and volunteers since the start of the program. The kids love to assume the role of adults in the game and they can work as a team to take conscious and responsible financial decisions” – said General Manager of the Hungarian Branch of MetLife and Hungarian ambassador of LifeChanger Dr. Judit Zolnay.

Chief Executive Officer of United Way Hungary Kincső Adriány said: “The high number of applications received indicates that elementary schools have recognized the importance of financial literacy in the 21st century, and they seek the support and cooperation of experts to teach young kids about responsible money management. We are glad to contribute to the development of skills and competences of schoolchildren and improve the financial literacy of the young generation”.