Financial literacy program for schools launched

THE DEPARTMENT OF EDUCATION (Deped), Bangko Sentral ng Pilipinas (BSP) and Banco de Oro (BDO) Foundation have launched a financial literacy program for schools that would provide lessons on responsible handling of personal finances and manage resources.

The program seeks to educate public school teachers, non-teaching personnel and learners to manage their personal finances responsibly, through short videos which convey age-appropriate lessons on saving and investing.

Deped Secretary Leonor Briones said the program is a direct response to the law which requires the teaching of financial literacy to all high school students and the celebration of financial literacy week. "This will help us in our personal capacitation, improvement. It's always a good thing to learn the latest in a particular field because it makes us better teachers. It's also good to learn something that will help us manage our personal affairs," she said.

Deped Undersecretary Tonisito Umali said the program is "a faithful compliance of what the law requires from the department for the benefit of both the learners and teachers."

Umali said the project intensifies public and private partnership which helps the department in the creation of lifelong learners by engaging actively the parents, community and stakeholders.

BDO Foundation President Mario Deriquito said the program would help young people to learn the value of money and saving as preparation for the future. It would also help the teachers and nonteaching personnel to acquire knowledge and skills on handling their personal resources effectively.

"The program is expected to contribute to Deped's efforts to strengthen financial literacy in its K to 12 curriculum and to the consumer protection pillar of BSP'S National Strategy for Financial Inclusion," Deriquito said.

BSP Governor Nestor Espenilla said the program is a good investment in the future of the young generation. "BSP believes that financial literacy can contribute to financial growth that's why financial education has been our advocacy since 2010. All the good habits in saving begin as a child, when instilling financial management skills in children the younger the better," he said.

The first five of the financial literacy videos that were presented in the event delved on the different practical ways by which students, teachers and non-teaching personal can save and manage their resources to achieve their financial goals. Apart from saving and investing lessons, the short videos also cover topics on financial planning, responsible use of credit and sharing of resources to others especially to the less fortunate.

Deriquito said each of the videos is accompanied by lessons plans that will be developed by Deped's master teachers. They will be uploaded to Deped's learning portal for easy access for teachers and learners. Schools with no internet connection can access the videos in USB sticks.