Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

TWENTIETH CONGRESS
First Regular Session

House Brit No. 1388

Introduced by: Hon. Iris Marie D. Montes

AN ACT
THE INCLUSION OF A PERSONAL FINANCIAL LITERACY COURSE IN THE
TECHNICAL-VOCATIONAL EDUCATION AND TRAINING CURRICULUM OF
TECHNICAL-VOCATIONAL INSTITUTIONS AND TECHNICAL EDUCATION
AND SKILLS DEVELOPMENT AUTHORITY TRAINING CENTERS

EXPLANATORY NOTE

This bill seeks to ensure that technical-vocational institutions (TVIs) and
Technical Education and Skills Development Authority (TESDA) Training centers
shall provide the necessary financial education to technical-vocational (tech-voc)
students while at the same time helping them to learn and develop other practical
tech-voc skills and competencies.

To equip the students with basic knowledge and additional skills on wealth
management and contingency planning, especially in proper handling of financial
resources, it mandates all public and private TVIs and TESDA training centers to
offer a Personal Financial Literacy Course to tech-voc students as part of the
technical-vocational education and training curriculum.

Indeed, providing financial education to tech-voc students is essential to
ensure their security and well-being in the future. A financially-literate individual
will be able to make well-informed financial decisions that will positively impact.
personal financial circumstances, empowering them to take better advantage of
economic opportunities, and consequently contribute to inclusive and sustained
economic development.

This bill, which was authored by Rep. Jose Manuel F. Alba, was approved on
Third and Final Reading during the previous Congress

In view thereof, approval of this bill is earnestly sought.

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Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

TWENTIETH CONGRESS
First Regular Session

House BILL No. _1338

Introduced by: Hon. Iris Marie D. Montes

AN ACT
THE INCLUSION OF A PERSONAL FINANCIAL LITERACY COURSE IN THE
TECHNICAL-VOCATIONAL EDUCATION AND TRAINING CURRICULUM OF
TECHNICAL-VOCATIONAL INSTITUTIONS AND TECHNICAL EDUCATION
AND SKILLS DEVELOPMENT AUTHORITY TRAINING CENTERS

Be it enacted by the Senate and the House of Representatives of the Philippines in
Congress assembled:

SECTION 1. Short Title. - This Act shall be known as the “Personal Financial
Literacy Course in the Technical-Vocational Education and Training (TVET)
Curriculum Act.”

SEC. 2. Declaration of Policy. - Recognizing financial literacy as an essential life
skill, as well as the complementary role of financial education in promoting the
economic well-being of Filipinos, it is hereby declared a policy of the State to
establish a strong foundation of financial literacy of students, trainees, and
employees in order to create a more skilled, knowledgeable and well-informed
future generation of Filipinos.

To this end, the State also seeks to broaden and strengthen TVET programs,
including financial education and literacy, to enable technical-vocational (tech-voc)
students to develop the appropriate skills to make well-informed financial decisions,
and desirable work habits upon employment in the industries.

SEC. 3, Objectives. -

(a) To ensure that technical-vocational institutions (TVIs) and Technical
Education and Skills Development Authority (TESDA) training centers shall provide
the necessary financial education to tech-voc students while at the same time
helping them learn and develop other practical tech-voc skills and competencies;

(b) To equip the students with basic knowledge and additional skills on wealth
management and contingency planning, especially in properly handling their
personal finances, prepare them to make well-informed financial decisions upon
entering the workforce, and help them master financial literacy as an important life
skill in their day-to-day transactions and other activities; and

(c) To broaden the opportunities and venues for the teaching of a personal
financial literacy course to strengthen financial education among Filipinos so they
can avoid financial frauds, develop financial discipline, use debt responsibly and
save for education or retirement.

SEC. 4. Mandatory Inclusion of Personal Financial Literacy Course in the TVET
Curriculum. - All public and private TVIs and TESDA training centers are mandated
to offer a Personal Financial Literacy Course (PFLC) to tech-voc students as part of
the TVET curriculum. It shall focus solely on personal finance based on the policies,
guidelines, and standards set jointly by the TESDA, the Bangko Sentral ng Pilipinas


(BSP), Department of Finance (DOF), Securities and Exchange Commission (SEC),
and the Insurance Commission (IC).

A passing grade in the PFLC shall be required for graduation or completion of the
course.

SEC. 5. Contents of Personal Financial Literacy Course. - The PFLC shall provide
instructions on personal financial literacy and shall include the following contents:

(a) Concept of personal finance;

(b) Time value of money;

(c) Consumer behavior in the context and culture of the Philippines;

(d) Debt management and rehabilitation;

(e)Savings, emergency, and resilience fund development;

(f) Investment concepts and planning;

(g) Retirement planning;

(h)Insurance planning;

(i) Credit scoring and credit reports;

(J) Concept of financial education;

(k) Pertinent topics on effective utilization of digital payment platforms, such as
modules on observing cyber-hygiene to help safeguard cybersecurity,
data integrity, and consumer protection in adopting digital financial
services; and

(I) Other financial literacy issues and concerns.

SEC. 6. Roles of Government Agencies, Offices, and Instrumentalities. - The
TESDA shall collaborate with the BSP, DOF, SEC, and the IC in developing academic
standards, curricula, and materials for the PFLC. These agencies shall jointly issue
the proper guidelines for this purpose.

The content of the PFLC shall be aligned with the standards set by the
aforementioned agencies.

SEC. 7. Implementing Rules and Regulations. - Within ninety (90) days after the
effectivity of this Act, the TESDA shall, in consultation with the BSP, DOF, and other
relevant stakeholders, issue rules and regulations for the effective implementation
of this Act.

SEC. 8. Separability Clause. - In the event any of the provisions of this Act is
declared unconstitutional, the validity of the other provisions shall not be affected
by such declaration.

SEC. 9. Repealing Clause. - All other laws, decrees, orders, rules and regulations
or parts thereof inconsistent with this Act are repealed or modified accordingly.

SEC. 10. Effectivity. - This Act shall take effect fifteen (15) days after its
publication in the Official Gazette or in a newspaper of general circulation.

Approved.