2. According to National Endowment for Financial
Education, Financial Literacy define as; the ability to use
knowledge and skills to manage one’s financial resources
effectively for lifetime financial security.
3. Knowledge of financial products
Knowledge of financial concepts
Mathematical skills or numeracy necessary for
effective financial decision making
Engaged in certain activities such as financial
planning
5. Budgeting Basics
-Creating and maintaining a set budget is a basic aspect in trying to stay
ahead with your finances. With this day in age making a budget can be
super easy thanks to apps and the internet. If you do not use a budget it
can be hard to keep track of where all your money is going so by
teaching this in school, it can help students to develop good habits
early.
Impact of Interest
-The concept of Interest can make a difference in a
student’s life later. Understanding all the different things about interest
can impact your finances more than people truly understand. It can save
a student from borrowing a small loan and having to pay double back.
6. Saving Money
-Learning to save money early can help a student to be better off in
the future. The student will gain the knowledge, practice and set goals
with these skills so that saving money will not be a task for very long.
Students can start by saving money for a larger priced item they want
and that will help them to get the practice they will need further into
life.
Credit-Debt
-Teaching students about how terrible credit-debt is can maybe help
them to sear clear of it in the future. Showing them how easy itis to lose
credit and how hard it is to gain it back may help them to understand
and create good habits early, so they will have minimum or no credit-
debt later in life.
7. Identity Theft Issues Safety
-Students need to realize how easy it is now with the
internet for someone to steal their identity. The internet
may say that websites are safe, but students must be
careful when making online purchases and giving out
personal information. Teaching students the concept of
safeguarding themselves online will help them to stay
protected in the long run.
9. World bank study in 2014 estimated 20 million Filipinos saved
money but only half had a bank account;
Asian development(ADB) study in 2015 revealed that
Philippines does not have a national strategy for financial
education and literacy;
In 2016, Bangko Sentral ng Pilipinas(BSP) released the national
strategy for financial inclusion, stating that while institutions
strive to broaden financial services, financial literacy should also
complement such initiatives;
10. As per standard & Poor’s (S&P) ratings services survey
last year, only 25% of Filipinos are financially literate. 75%
of Filipinos have no idea about inflation, risk,
diversification, insurance, compound interest, and bank
savings;
10 years after discovery of the stock market, still less
than 1% of Filipinos is invested in it;
More than 80% of the working middle class have no
formal financial plan. (Go, 2017)
11. • BSP organized the very first Financial
Education stakeholders Expo last November
27-28, 2018.
• The expo supports RA No. 10922;
• Also aligned with the objectives of the
Philippine national Strategy for Financial
inclusion.
13. Financial Education is vital in developing financially literate
citizenry, empowering them to make wise financial decisions, take
advantage of economic opportunities, and achieve financial health.
Financially literate citizens can contribute more productively to
inclusive growth and be more effective agents of nation-building,
thereby supporting the vision of Ambisyon Natin 2040: Matatag,
Magirihawa, at Panatag na Buhay and that of the Sustainable
Development Goals (SDGs), particularly the promotion of quality
education that ensures an increasing number of youth and adults
with relevant skills and competencies for productive lives and
poverty reduction.
14. a. Republic Act No. 10922 or the “Economic and Financial
Literacy (EFL) Act”:
“All public and private elementary and secondary schools under the
Department of Education (DepEd), and state and private colleges
and universities under the Commission on Higher Education (CHED)
and the National Youth Commission (NYC) are mandated to conduct
consciousness-raising and knowledge-expanding activities on
economic and financial literacy, including the setting up of literature
comers, organizing fora, trainings and conducting basic economic
and financial management classes. ” (Sec. 4)
15. b. Republic Act No. 10679 or the “Youth
Entrepreneurship Act”:
“The promotion of youth entrepreneurship and financial
literacy program shall be inculcated in all levels of education
nationwide. Consistent with RA No. 10533 or the “Enhanced
Basic Education Act”, the DepEd shall ensure that the K-12
Curriculum shall be supported by programs on
entrepreneurship and financial literacy…” (Sec. 4)
17. The Financial Education Policy aims to integrate financial
education across all grade levels in public and private
schools, special education centers, and Indigenous Learning
Systems. It will guide teachers and personnel in financial
literacy through existing measures and partnerships with
the Bureau of Social Protection (BSP). The policy will also
guide offices in program implementation and is encouraged
for adoption in Laboratory Schools of State Colleges and
Universities.
19. The DepEd is integrating Financial Education into the K to 12
Basic Education Curriculum, in line with RA No. 10922 and
RA No. 10679. The policy aims to enhance financial literacy
and capability among learners, teachers, and DepEd
personnel, promoting financial health and inclusion. It
encourages constructivist, inquiry-based, reflective,
collaborative, and integrative pedagogical approaches,
making Financial Education an integral part of lesson
planning and professional development.
20. For learners, in particular, this Policy aims to:
1.Help them understand the value of money and
resources with integrity and honesty through
undertaking examinations pertinent to financial
scenarios; and
2.Develop their knowledge and capability to apply
Financial Education Concepts and Core Messages in
practical situations through simulated real-life financial
settings.
21. For private schools’ teachers, administrators, and
school heads in particular, this Policy aims to:
1.Guide them in integrating Financial Education Concepts
and Core Messages in appropriate Learning Competencies
in various learning areas across all grade levels based on
identified and approved entry points in the K to 12 Basic
Education Curriculum; and
2.Capacitate them in Financial Education through the
provision of resource materials.
22. For public schools’ teachers, school heads and concerned
supervisors from ROs and SDOs, in particular, this Policy aims to:
1.Guide them in integrating Financial Education Concepts and Core
Messages in appropriate Learning Competencies in various learning areas
across all grade levels based on identified and approved entry points in
the K to 12 Basic Education Curriculum
2.Capacitate them in Financial Education through the provision of resource
materials and capability building opportunities to enable them to
effectively facilitate the integration of Financial Education Concepts and
Core Messages in the conduct and delivery of lessons and classes; and
3.Produce financially literate and debt-free teaching force.
23. For DepEd non-teaching personnel in particular, this
Policy further provides guidance to:
1.Ensure that Financial Education is integrated in the regular
training programs and professional development courses for the
non-teaching personnel which would make them financially
literate and debt-free;
2.Identify the strategic roles and responsibilities and ensure
communication and collaboration among concerned DepEd
offices from the Central Office to the Division Offices;
24. For DepEd non-teaching personnel in particular, this
Policy further provides guidance to:
3. Monitor progress and measure impact of Financial Education
integration in the personal finance management skills of the non-
teaching personnel; and
4. Provide general guidance to existing and potential DepEd
partners from the public and private sectors to ensure that their
support, projects, and programs are in accordance with the
objectives of this Policy, the design of the integration process, and
the identified Financial Education Concepts and Core Messages.
26. Ang 6 na dahilan kung bakit kailangan ng financial
literacy:
1. Magkakaroon ng direksyon ang pera mo.
2. Matututo kang gumastos ng tama.
3. Makakaipon ka ng pera.
4. Makakabayad at makakaiwas ka sa bad debt.
5. Mapapalago mo ang pera mo.
6. Magiging handa ka sa mga posibleng mangyari.
27. Financial Literacy is the foundation of
your relationship with money, and it is a
life-long journey of learning. The earlier
you start, the better off you will be,
because education is the key to success
when it comes to money.
