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Manila Bulletin devider Philippines devider National devider Solon wants financial literacy included in basic education lessons

Solon wants financial literacy included in basic education lessons

Published Mar 23, 2021 05:40 pm

A lawmaker is pushing to educate children as young as 13 years old about finances and investing to prepare them for when they enter the workforce.

(JANSEN ROMERO / FILE PHOTO / MANILA BULLETIN)

Quirino Representative Junie Cua on Tuesday, March 23, included this proposal in his House Bill No. 8938, which calls for a "deeper and broader" capital market for economic growth by "developing a robust institutional investor base and strengthening the regulatory environment".

The bill, tackled by the Cua-led House Committee on Banks and Financial Intermediaries, also seeks to "enhance investor education...for the population to develop their long-term investing skills and financial well-being."

" is triggered by our desire to include in the DepEd a program for early literacy, financial literacy education program," Cua said in their virtual committee hearing Tuesday.

"The labor sector is pointing out to us na karamihan ng mga empleyado lalo na doon sa low-income, low-wage earner ay walang kaalaman sa (that most employees, especially low-wage earners, do not have an idea about) financial literacy so we want to include in the bill a program that will be handled by the DepEd in its basic education program," he explained.

Cua said he wanted the financial education to start "at the junior high level" so that students will be equipped before they graduate high school. This way, those who would not pursue college will also be covered, he added.

The committee has yet to get the comment of the DepEd.

The Department of Finance, meanwhile, did not object to Cua's proposal. Its representative suggested to likewise mandate the Commission on Higher Education (CHED) to implement a financial literacy program.

Trade Union Congress of the Philippine (TUCP) spokesperson Nicole Parreño said the group also supports the proposed inclusion of financial literacy in the basic education curriculum.

"Financial literacy program should also be made available to those no longer in the school system, for those already in the workforce, so that they are made aware of the risks of investing in the capital market, and what financial instruments are available to them in investing," Parreño also proposed to the House panel.

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