Adulting is hard. One of a millennial’s recurring feelings is that they weren’t taught “how to adult,” or do tasks they didn’t do as kids or teenagers such as file taxes, start a mutual fund, or pay the bills. That may soon change as a financial literacy program will now implemented in Senior High School (SHS).
According to the Department of Education (DepEd), the program aims to teach financial management and investment to students so they can find employment by the time they graduate.
The program will include financial education and consumer protection in the K to 12 curriculum, a training program geared towards teachers, and financial inclusion mechanisms for schools in both urban and rural areas.
It is based on the Organization for Economic Co-operation and Development’s (OECD) Programme for International Student Assessment (PISA) financial literacy assessment framework, and will be part of Edukasyong Pantahanan at Pangkabuhayan (EPP) and Technology and Livelihood Education (TLE).
The modules will cover values formation on money, saving, and the rewards and risks in making monetary decisions. It will be held once a week and will be one- or two-hour sessions.
The program is implemented by the National Strategy for Financial Inclusion (NSFI), a gathering of institutions that promotes financial inclusion through policy and regulation, financial education and consumer protection, advocacy programs and progress monitoring. Members include DepEd, Bangko Sentral ng Pilipinas (BSP), Cooperative Development Authority (CDA), Department of Budget and Management (DBM), Department of Finance (DOF), Department of Social Welfare and Development (DSWD), Department of Trade and Industry (DTI), Insurance Commission (IC), National Economic and Development Authority (NEDA), National Youth Commission (NYC), Philippine Deposit Insurance Corporation (PDIC), and the Securities and Exchange Commission (SEC).
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