In 2023, a group of children in Malabon City came together with a big idea—they formed the "Billionaire Kids," a Children's Savings Group (CSG) dedicated to teaching young people about the importance of saving money and planning for the future.
United by their enthusiasm for financial literacy and desire to create a positive impact, Nicholas, 16, and Julie, 15, lead as the president and vice president.
"Gusto rin po namin na maputol ‘yung cycle ng kahirapan, kasi new generation na po kami, susundan pa po ba namin ‘yung henerasyon sa iba? Nakita namin na hala ang hirap po pala ng buhay. Sa mga kabataan ba na katulad natin, itutuloy pa ba natin yun o puputulin na ba natin yun?" Julie said.
(As a new generation, we want to break the cycle of poverty. Are we content to follow the footsteps of the past? We've witnessed the struggles of those who came before us. As young people, are we destined to perpetuate this cycle, or will we be the ones to break it?)
Their journey began when their parents encouraged them to join learning sessions from the Financial Resilience Towards Economic Recovery (FREER) project by Save the Children Philippines in partnership with Wells Fargo. Before joining FREER, neither Nicholas nor Julie had much experience with financial literacy and spent money without much thought. Through the project, they learned the valuable lesson that money doesn't come easily, and their parents work hard to earn it.
Learning Budgeting Skills Early in Life
Part of the FREER project aims to teach people the value of money and the importance of budgeting. This new understanding motivated the children to start the Billionaire Kids group, where they could put their newfound knowledge into practice. The group devised a straightforward yet effective system, requiring each member to set aside ten to twenty pesos weekly for collection by their treasurer.
This weekly savings routine taught them the discipline of setting aside a portion of their money, even if it was just a small amount. Over time, these small contributions added up, giving the group a sense of pride and accomplishment as they watched their savings grow.
“Pumapasok dun ‘yung telling stories of success. Habang sila'y nakikinig, naiinspire sila na ganito pala mangyayari pag nag-ipon ako. Naencourage namin sila na mag-ipon na rin. Kasi nga meron silang certain goal na gustong makamit na parang ‘gusto mo bang makuha yan’ so kailangan mo mag budget at mag-save ng pera para makuha mo ‘yung mga bagay na gusto mo,” said James.
(This is where sharing stories of success comes in. As they listen, they become inspired and realize, "This is what I can achieve if I start saving." We also encourage them to save, especially since they have specific goals they want to achieve. It's like asking, "Do you really want to reach that goal?" Then, you need to create a budget and save money to achieve your desired outcomes.)
Their new understanding of money led them to start prioritizing budgeting. For instance, Nicholas, a talented contemporary dancer who competes in national competitions, shared a story about how his dance pants once tore just before a competition.
"One time, nawalan ako ng pera nun and nasira ‘yung pantalon ko kasi isa ako sa mga dancer's ng school namin. Nung pumasok ako sa saving, nagawan ko siya ng paraan. Napag-ipunan ko siya because of our organization po. Kasi dun ko po nalaman na ‘di lahat ng wants mo dapat makuha mo, ‘yung mga needs lang kasi dapat. Ang ginawa ko nun, I started to save money with 10 to 20 pesos per week, minsan five pesos lang. After one month and a half, I bought jogging pants po para sa dancing ko."
(One time, I lost my money and tore my pants while dancing at school. Joining the savings group helped me solve this. By saving 10 to 20 pesos each week, sometimes just five pesos, I managed to buy new jogging pants for dancing after a month and a half. This taught me that you don’t need to have everything you want, only what you need.)
This experience taught him the importance of prioritizing needs over wants and how even small savings could lead to meaningful outcomes.
Saving for Life's Growing Demands
Nicholas and Julie learned one of the most important lessons from their CSG: the power of saving. They discovered that by saving a portion of every amount of money they received, they could prepare for unexpected events while still having enough for their needs and wants. Their rule of thumb is to save 20 pesos out of every 100. This simple habit allowed them to build up their savings and gain a sense of financial security that they never had before.
Still, for Nicholas and Julie, saving money is more than just buying what they need or want—it's also about being able to help others and make a difference in their community. They envision a future in which young people are prepared for the inevitable effects of rising prices of goods and commodities.
They realized that by being careful with their money, they could also contribute to solving bigger problems in society. Julie said, “‘yung maliit na halaga, ‘pag inipon, dadami. Like piso, ‘pag naglagay ka ng piso parang wala namang halaga ‘yung piso, anong mabibili mo sa piso, candy nga dos na eh.”
(A small amount, when saved, can grow. What is the current value of a single peso? With a peso, what can you buy? (Even candy now costs two pesos.)
Beyond financial literacy
The lessons and experiences in their CSG sparked their dream to grow their group to not only focus on financial literacy but also on dreaming big and speaking up on the challenges children face in their community.
For Nicholas, leadership in the Billionaire Kids is not just about managing money, but also about inspiring his peers: "As a leader, I want to inspire my peers to achieve their future goals, which are important to our organization. Marami akong nakikita na ka-age ko, 16, na nandyan lang sa labas tumatambay. Kaya napapaisip ako, bakit ako nasa school, may hawak na ballpen at lapis at papel. Bakit sila ganito, umiinom, tapos nakatambay lang. Gusto ko na malaman nila na hindi dapat sila nandun. Di ko naman sinasabi na didiktahan ko sila, gusto ko lang sabihin na, ‘yung knowledge at lesson na malalaman niyo dito is maiiwas kayo sa masasamang bisyo. Ayun ‘yung goal ko na gustong gusto kong makamit na, hindi kami dapat bata lang, hindi kami dapat organization lang na nandyan lang. Gusto ko malaman nila na pag sinabing CSG namin is di lang bata yan e, gusto ko 'ah bata yan, batang may pangarap, batang may gustong gawin.'"
(As a leader, my goal for the future is to expand our organization. I see many people my age just hanging around outside. It makes me wonder why I’m in school holding a pen, pencil, and paper while they are just drinking and loitering. I want them to understand that they shouldn’t be there. It's not about dictating their choices, but rather imparting the knowledge and lessons they can gain to keep them away from bad habits. My ultimate aim is to transcend our perception as mere children or an insignificant organization. I want people to perceive our CSG as a group of young individuals with aspirations and a desire to make a difference.)
Nicholas and Julie want to inspire other children to join their group. They believe that when kids learn how to manage their money wisely, they gain more than just financial skills—they gain the confidence to voice their concerns and ideas about how to improve their community. They hope that by teaching others the value of saving and budgeting, they can empower more children to become champions in their own neighborhoods.
She believes that by instilling positive financial habits in the younger generation, they can break the cycle of poverty and create a brighter future for themselves and their communities. "Malaman nila ‘yung kahalagahan ng pag-iipon at ‘yung value ng money, at ‘yung goal po namin is makatulong po kami sa ibang kabataan na nalihis na po ng landas, kasi ngayon sobrang taas na ng teenage pregnancy, wala pa naman silang sapat na trabaho tas napunta sila sa kalagayang na kailangan nilang sila'y mag-provide na," she added.
(They should understand the importance of saving as well as the value of money. Our goal is to assist other young individuals who have made mistakes due to the increasing prevalence of teenage pregnancy in today's society. Adolescents don’t yet have stable jobs, but they find themselves in a situation where they need to provide.)
Nicholas and Julie aspire for the Billionaire Kids to serve as a model for kids in the future, helping them steer clear of vices and adolescent pregnancy, which are persistent issues in their community. By saving money and focusing on their studies, they are not only securing their own futures, but also creating a brighter future for everyone around them.
Through their leadership and passion, Nicholas and Julie are showing that even small actions, like saving a few pesos at a time, can lead to big changes—and that every child has the potential to make a difference.