/ 29 February 2024

SENATOR Francis Escudero on Wednesday declined to approve a measure pushing for the inclusion of Personal Financial Literacy Course in the Technical-Vocational Education and Training curriculum.

Escudero, chairman of the Senate Committee on Higher, Technical and Vocational Education, instead proposed to convert House Bill 9292 into a resolution.

“The chairperson reiterates that, as a rule, the committee does not legislate amendments to the curriculum, because it should not be etched in stone. I propose to convert HB 9292 into a resolution that urges the Technical Education and Skills Development Authority to include a personal financial literacy course in TVET in its curriculum,” Escudero said.

House Bill 9292 is seeking to equip students with basic knowledge and additional skills in wealth management and contingency planning, especially in properly handling their finances, prepare them to make well-informed financial decisions upon entering the workforce, and help them master financial literacy as an essential life skill in their day-to-day transactions and other activities.

House Speaker Ferdinand Martin Romualdez said that once enacted, the measure would broaden the opportunities and venues for teaching a personal financial literacy course to strengthen financial education among Filipinos.

“Financial literacy is a precious skill that, unfortunately, few have. Filipinos who are financially literate are more likely to avoid financial frauds, develop financial discipline, use debt responsibly, and save their money for education or retirement,” Romualdez said.

The bill shows that TVIs and TESDA training centers shall provide the necessary financial education to tech-voc students while helping them learn and develop other practical tech-voc skills and competencies.

The measure provides mandatory inclusion of Personal Financial Literacy Course in the TVET curriculum.