ĠEMMA Know, Plan, and Act within the Ministry for the Family, Children’s Rights and Social Solidarity and the HSBC Malta Foundation and are once again collaborating on a financial capability programme directed at primary level children attending Skolasajf this summer. The programme is game and workshop based, titled ‘Fact or Fake’ which focuses on the development of skills necessary for making responsible purchase judgements when influenced by media advertising.
The workshop engages children in discussing the effects of misleading advertisements thus allowing them to distinguish genuine from deceptive commercials – and in doing so introducing the children to the concept of misselling. During the workshop students have the opportunity to design their own adverts which are discussed in the workshop.
David Spiteri-Gingell, Team Leader of the ĠEMMA, the government’s financial capability platform, said “A primary objective of ĠEMMA is to imbue children with principles of financial capability – thus instilling an understanding of financial capability skills at an early age. We teamed up with the HSBC Malta Foundation last summer to introduce financial capability as part of the Skolasajf curriculum; as well as with the Education Division on a series of other financial capability activities targeting children in primary and early secondary cycles of education. This summer’s programme targets the understanding of how advertisements work, impact of discounts, and to gain awareness of price tricks and false advertising.”
Glenn Bugeja, Manager Corporate Sustainability at HSBC Bank Malta p.l.c., said: “HSBC Malta Foundation is highly committed to nurture young students’ ability to understand and properly apply financial management knowledge and skills by providing learners opportunities to learn effective financial planning, proper budgeting techniques, prioritising saving and making rationale purchasing decisions.That is why we are more than happy to collaborate with and support ĠEMMA and the Foundation for Educational Services on this important project.”
Maths Support Team members and coordinators of the workshop Amanda Cilia and Analisa Magro agree that our children must be aware of price tricks, as it is essential to save money and use it wisely.
Dermot Galea, CEO of the Foundation for Educational Services which manages Skolasajf, praised the annual partnership with HSBC. “The introduction of the financial literacy topic in the Skolasajf programme was definitely a step in the right direction, helping children become mature citizens who can make informed financial choices,” Dermot Galea concluded.
Visits are scheduled in July and early August with 12 total teaching hours per teacher. This project is one of many which HSBC Foundation and ĠEMMA are running in collaboration to enhance financial literacy among school children.