About Cha-Ching

What is Cha-Ching?

Cha-Ching, the highly rated award-winning financial literacy programme that seeks to instil money-smart skills in children across Asia has now been developed into a resource for use by UK.

This multi-platform financial education resource is designed to equip primary school children with the knowledge, skills and attitudes they need to make informed money decisions. The programme is built around animated music videos and uses dedicated Teacher and Family Zones.

The series of 16, three-minute music videos feature six lively characters, Pepper, Zul, Charity, Justin, Prudence and Bobby who make up the band, Cha-Ching. Originally friends from school, the characters through their roles in the band and everyday lives experience situations that involve money and the fundamental money management concepts of Earn, Save, Spend and Donate.

Where did it come from?

Cha-Ching was developed by Prudential Corporation Asia, the Asian business of Prudential plc, the UK-based financial services group, in partnership with Cartoon Network Asia in response to a growing interest in, and need for, child-focused financial education.

The multi-platform programme, built around animated music videos, was launched in 2011 in response to key findings from a major research initiative undertaken by Prudential across Asia. This showed that while 95 per cent of parents believed an understanding of money management to be an important skill, only 13 per cent believed their children possessed such an understanding.

The three-minute music videos were developed in consultation with an expert in children’s education, Dr. Alice Wilder, to help children master the money management concepts of Earn, Save, Spend and Donate.

Each Cha-Ching video uses the best practices in learning theory: songs as mnemonics; repetition as the key to mastery; age-appropriate, relevant, contextualised real-life scenarios; narratives as a hook and motivation and strategies that empower children to say, “I know what to do now!”

The programme now runs in 11 countries across Asia. These include Singapore and Hong Kong, which are renowned for their excellent standards in education and high scores in international league tables.

Cha-Ching in the UK

Research undertaken by pfeg (Personal Finance Education Group) shows that 42 per cent of 14 – 25 year olds cannot fully interpret a bank statement and are unable to tell the difference between being in credit and being overdrawn. Additionally, studies show that financial habits are established as early as 7 years old.*

As a result, pfeg, part of Young Enterprise, worked in partnership with Prudential Group and Junior Achievement Asia-Pacific to create a new educational resource for Primary school students in England and Wales that enabled the Cha-Ching programme to be brought into the classroom, providing fun and engaging content for children.

The activities within the Cha-Ching programme are linked to pfeg’s Financial Education Framework and also contains guidance for teachers on how to most effectively integrate activities into their teaching.

The financial education programme includes:

  • Engaging contextualised learning for financial education
  • Development of essential financial knowledge, skills and attitudes for young people
  • Strong links with the pfeg Primary Financial Education Framework
  • A Quality Marked teaching resource, independently assessed for education value and financial accuracy*.

The activities and learning outcomes are based around the themes explored in each video, such as spending, saving and giving, into a suite of planned activities that can be used to support and enhance the learning from the video content. This allows for an easy and structured transition for children, from watching the videos to then taking part in lessons.

What is the Financial Education Quality Mark?

In order for young people to become financially capable, teachers and other educators (including parents, carers and volunteers) need access to financial education resources that support high quality teaching and learning about money. Pfeg, part of Young Enterprise supports the development of such materials through the Quality Mark - the UK’s only widely-recognised accreditation system for financial education resources. It is a rigorous, independent assessment designed to give those delivering financial education confidence that the materials they are using contain accurate and up-to-date information, are of the highest educational value, and are engaging and relevant for young people.

Here are some of the comments from the Financial Education Quality Mark Assessors:

‘An engaging resource, using mini cartoons (3 mins) and catchy tunes to tell a story about a group of six young people. Each character has their own profile, things they like to do; are good at etc. The resource covers the core themes of Earning, spending, saving and donating. There are 16 lessons in total each with their own cartoon clip, activities link both to the story in the cartoon and pupils own ideas and experiences. Full lesson plans and associated resources are included. This is a web-based resource, the website is easy to navigate and resources can be downloaded easily’. Financial Education Quality Mark Assessor

‘An excellent resource for primary school financial education, dealing with issues such as attitudes to spending, saving, debt, wants and needs, ways of paying, starting up and running a business etc. 16 lesson plans give the teacher a carefully guided route through the programme, with supportive resources provided at all stages. Each of the music videos which introduces a different financial topic, will really appeal to the children’. Financial Education Quality Mark Assessor.

*This is from a specific study carried out by MAS:

Prudential plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute one of the world's leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. It has been in existence for over 168 years and has £599 billion in assets under management (as at 31 December 2016). Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.

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