VALENZUELA 1st District Rep. Rex Gatchalian filed a bill that seeks to include economics and personal finance literacy in elementary, secondary and tertiary curriculums.

In his House Bill 3835 or the proposed Economics and Financial Literacy Curriculum and Training Act, Gatchalian said providing financial education to the younger generation is essential to ensure their security and well-being in the future.

He stressed that a financially-literate Filipino youth will be able to make well-informed financial decisions that will positively impact personal financial circumstances, empowering them to take better advantage of economic opportunites and consequently contribute to inclusive and sustained economic development.

The lawmaker cited Global Financial Literacy survey conducted by Standard and Poor showing only 25 percent of Filipino adults are financially literate.

Gatchalian said this means that 75 percent of Filipino adults, including the parents and teachers who will be the source of financial knowledge for the younger generation, are not financially literate.

“The younger generation thus enters the real world financially unprepared, with very little knowledge or without ever learning about money in school or at home,” he said.

The measure seeks to include an Economics and Personal Financial literacy course as part of the curriculum and a requisite for graduation in the elementary, secondary, tertiary and technical-vocational levels.

“The educational system curriculum must be designed to consistently instill in the youth money management to form spending, saving, and investing habits that can have lasting monetary and personal benefits,” the lawmaker said.