DepEd, partners engage interest of learners, teachers in financial literacy

December 21, 2017

PASIG CITY, December 21, 2017 – The Department of Education (DepEd) is intensifying its campaign for financial education, along with consumer protection and entrepreneurship, in schools under its financial literacy program to develop among children the values of financial discipline and responsibility. To realize this, DepEd and its partners are conducting programs and workshops that engage the interest of teachers and learners alike in achieving financial well-being.
 
During a press conference held in November, Undersecretary for Legislative Affairs, External Partnerships, and School Sports Tonisito Umali said that everyone needs to be financially literate and able to determine priorities in allocating their resources.
 
“Everyone needs to be aware on his or her earning capacity because sometimes we spend and pay more to something than to what we need,” Umali said.
 
Financial literacy in the curriculum
 
Financial literacy is mandated by the State according to Republic Act No. 10922 or “An Act Declaring the Second Week of November Every Year as Economic and Financial Literacy Week”; and Republic Act No. 10679 or “An Act Promoting Entrepreneurship and Financial Education Among Filipino Youth.” The said laws promote financial awareness among the learners whose aptitudes and skills in the field of finance and entrepreneurship shall be encouraged and honed through education and specialized training programs.
 
The financial and entrepreneurial concepts are integrated in the curriculum of elementary and secondary students in the Technology and Livelihood Education (TLE) and Edukasyong Pangkabuhayan at Pantahanan (EPP) subjects.
 
Partners in financial education
 
DepEd has also entered into agreement with the BangkoSentral ng Pilipinas (BSP) to develop learner-friendly financial education initiatives in line with the National Strategy for Financial Inclusion (NSFI), specifically the pillar of Financial Education and Consumer Protection (FECP) launched by the government and the private sector. 
 
The Department has also partnered with financial institutions such as the National Confederation of Cooperatives (NATCCO) and Aflatoun International, which is conducting training on financial literacy for teachers in Batangas and Manila as part of its advocacy campaign.
 
DepEd as well proposed partnership with BDO Foundation, Inc. in producing video materials on financial literacy for teachers and learners.
 
Financial awareness activities
 
For this year, DepEd, through the Bureau of Curriculum Development (BCD) and in coordination with BSP, NATCCO and Philippine Life Insurance Association (PLIA), has conducted series of workshops to intensify the integration of Financial Literacy Education in the K to 12 Curriculum (from Kindergarten to Senior High School).
 
Selected teachers and DepEd personnel from different regions were trained and thoroughly oriented on financial literacy by DepEd partners to equip them with necessary knowledge and information on the concept.
 
The Department intends to release the policy soon.
 
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