Financial Literacy for the Filipino Youth


Money management skill is something that a person develop in his childhood. In the Philippines, many Filipinos still lack knowledge to make informed and effective financial decisions.

BDO Foundation, the Bangko Sentral ng Pilipinas (BSP) and Department of Education (DepEd) are ramping up efforts to maximize the benefits of their financial education program for public school students through the K-12 curriculum.

DepEd secretary Leonor Magtolis Briones recently issued Memo no. 32, Series of 2019, announcing the dissemination of the financial literacy learning resources in all public schools nationwide. Developed by BDO Foundation in partnership with BSP and DepEd, the resources consist of ten sets of educational videos, lesson plans and discussion guides on such topics as savings, budgeting and entrepreneurship, among others. The issuance of the memo formalized the integration of said materials in Kindergarten classes and subjects like Araling Panlipunan, Edukasyon sa Pagpapakatao and Mathematics for elementary students.

The learning resources for Kindergarten pupils focus on saving and the value of money. The Araling Panlipunan materials teach students how to save and when to spend by identifying needs versus wants. The Edukasyon sa Pagpapakatao lessons discuss the importance of hard work and resourcefulness in earning extra income. The Math classes, on the other hand, cover budgeting and financial planning. These materials are available on DepEd's online learning portal, where they can be readily accessed by teachers and trainers.

"The financial education videos, lesson plans and discussion guides developed by the foundation, BSP and DepEd encourage students to learn effective ways to manage their money early on in their lives," said Mario Deriquito, president of BDO Foundation, the corporate social responsibility arm of BDO. "With the support of our dear teachers--our partners in mentoring the youth--we hope to share lessons on money matters with young Filipinos to help them achieve financial independence when they grow older."