Gatchalian wants financial literacy taught in schools

Senator Win Gatchalian has filed a bill that will require the teaching of financial literacy in elementary, secondary, and tertiary levels, including technical-vocational institutions.

Under the Economics and Financial Literacy Curriculum and Training Act (Senate Bill No. 479), all public and private schools, local universities and colleges, state and private colleges and universities, and technical-vocational schools and centers are required to develop a course focused solely on Economics and Personal Finance (EPF), which will be included in their respective curriculum.

At the elementary level, the EPF course will cover basic economic principles such as, but not limited to, individual and family financial goal setting, evaluating expenses, and budget preparation. At the secondary, tertiary, and technical-vocational education levels, the course will cover topics such as credit, savings, investment, and retirement, among others.

"Providing financial education to the younger generation is essential to ensure their security and well-being in the future. A financially literate Filipino youth will be able to make well-informed financial decisions that will positively impact their personal financial circumstances, empowering them to take better advantage of economic opportunities," said Gatchalian, Chairman of the Senate Committee on Basic Education.

"Sa mahabang panahon ng pag-aaral ng ating mga kabataan, tinuturuan natin sila ng kaalaman at kakayahan upang makakuha ng maayos na trabaho, ngunit hindi natin itinuturo kung paano ang tamang paggamit ng salapi. Kung matuturuan natin sila ng financial literacy, matuturuan natin silang makamit ang pag-asenso at mamuhay nang mas matiwasay," he added.

Gatchalian pointed out that while 89% of Filipino youth rely on their parents' financial knowledge, the Global Financial Literacy Survey conducted by Standard and Poor's shows that only 25% of Filipinos are financially literate. This means that 75% of Filipino adults, including the parents and teachers who will be the younger generation's source of financial knowledge, are not financially literate.

While government agencies such as the Bangko Sentral ng Pilipinas, the Department of Finance (DOF), the Securities and Exchange Commission (SEC), the National Credit Council (NCC), and the Department of Education (DepEd) have all launched financial literacy programs, Gatchalian pointed out that these may not be sustainable if not institutionalized within the education system.

The proposed measure also seeks to provide EPF professional development to teachers.

Pagtuturo ng financial literacy sa mga paaralan isinusulong ni Gatchalian

Naghain si Senador Win Gatchalian ng isang panukalang batas na naglalayong maituro ang financial literacy sa mga mag-aaral sa elementarya, high school, at kolehiyo, kabilang ang mga technical-vocational institutions.

Sa ilalim ng Economics and Financial Literacy Curriculum and Training Act (Senate Bill No. 479), lahat ng mga pampubliko at pribadong mga paaralan, state at local universities and colleges, mga pribadong kolehiyo at pamantasan, at mga technical-vocational schools at centers ay kailangang bumuo ng isang kursong nakatutok sa Economics and Personal Finance (EPF). Ang naturang kurso ay magiging bahagi ng curriculum ng mga paaralang ito.

Sa elementary, tatalakayin ng kursong EPF ang mga basic economic principles tulad ng individual and family financial goal setting, pagsusuri sa mga gastusin, at paghahanda ng budget. Sa high school, kolehiyo, at technical-vocational level, tatalakayin ang mga usaping tulad ng credit, savings o pag-iipon, investment, retirement, at iba pa.

"Mahalaga ang pagbigay ng financial education sa mga kabataan upang matiyak ang kanilang seguridad at kapakanan sa hinaharap. Ang mga kabataang financially literate ay makakagawa ng mabuting desisyon na magkakaroon ng magandang epekto sa kanilang personal na mga buhay. Magagabayan din natin sila na samantalahin ang mga oportunidad na haharapin nila," ani Gatchalian, Chairman ng Senate Committee on Basic Education.

"Sa mahabang panahon ng pag-aaral ng ating mga kabataan, tinuturuan natin sila ng kaalaman at kakayahan upang makakuha ng maayos na trabaho, ngunit hindi natin itinuturo kung paano ang tamang paggamit ng salapi. Kung matuturuan natin sila ng financial literacy, matuturuan natin silang makamit ang pag-asenso at mamuhay nang mas matiwasay," dagdag na pahayag ng mambabatas.

Tinukoy din ni Gatchalian na bagama't halos siyamnapung (89) porsyento ng mga kabataang Pilipino ay umaasa sa kaalaman ng kanilang mga magulang, lumalabas sa Global Financial Literacy Survey ng Standard and Poor's na dalawampu't limang (25) porsyento lamang na mga Pilipino ang maituturing na financially literate. Ibig sabihin, pitumpu't limang (75) porsyento ng mga nakatatandang Pilipino ang hindi financially literate, kabilang dito ang mga magulang at mga guro na pinagmumulan ng kaalaman ng mga kabataan pagdating sa pinansya.

Bagama't ang mga ahensya ng gobyerno tulad ng Bangko Sentral ng Pilipinas, Department of Finance (DOF), Securities and Exchange Commission (SEC), National Credit Council (NCC), at ang Department of Education (DepEd) ay naglunsad ng kanilang mga programa para sa financial literacy, nangangamba si Gatchalian na hindi maipagpapatuloy ang mga ito kung hindi gagawing institutionalized ang sistema ng edukasyon.

Layon din ng panukalang batas na magbigay ng EPF professional development para sa mga guro.