Benguet State University’s Department of Entrepreneurship is equipping future entrepreneurs with more than just business theories—it is teaching them to practice what they learn by saving for their future.
From September to December 2024, 101 BS Entrepreneurship students collectively saved Php 233,100.00 as part of a Financial Literacy Savings Challenge, a hands-on project integrated into their Financial Management course.
Recognizing the importance of financial discipline for aspiring entrepreneurs, the department partnered with the BSU and Community Multi-Purpose Cooperative, where students opened savings accounts and learned cooperative policies through orientations facilitated by the cooperative’s Education Committee.
What made this initiative significant was that 91% of the participating students were first-time savers, opening accounts for the first time, while the remaining 9% sustained and strengthened their existing savings habits.
At the beginning of the project, students assessed their weekly allowance and committed to saving at least Php 50.00 per week. This small but consistent step became a building block for a habit of financial discipline, preparing them to manage finances as future business leaders.
“This project aims to prepare our students to become global citizens equipped with entrepreneurial and financial competencies essential for business and beyond,” shared Mr. Michael Karl M. Barnuevo, Department Chairperson.
The initiative continues to impact the students as they prepare for their Business Plan Implementation in their senior year. Moving forward, the department plans to integrate this savings challenge for all first-year BS Entrepreneurship students, allowing them to cultivate financial discipline throughout their academic journey.
Students expressed their appreciation for the challenge, describing it as eye-opening and practical. One student shared that she now understands the importance of a savings account for financial growth, a perspective she did not have growing up. Another mentioned the experience felt “real” compared to classroom exercises, while others shared lifestyle adjustments they made, such as choosing home-cooked meals over dining out or avoiding online shopping temptations to meet their savings goals.
For students who already had accounts, managing their savings themselves was an empowering step, reinforcing ownership over their financial decisions.
The project was not without challenges. Some students initially did not take the activity seriously, delaying their participation until they realized it was a course requirement, while others struggled with the mindset shift toward prioritizing savings. To address these, the department conducted several orientations and mentoring sessions to guide students.
Despite these hurdles, the initiative has proven successful in fostering financial literacy, discipline, and appreciation for savings among BSU’s entrepreneurship students. With optimism, the department envisions expanding this experiential learning model across the college and university, nurturing financially responsible and empowered graduates ready to contribute to sustainable economic development.//JBPPinos-an
