TWENTIETH CONGRESS OF THE ) 
REPUBLIC OF THE PHILIPPINES 
) 
First Regular Session 
 
 
) 
HOUSE OF REPRESENTATIVES 
H. No. ______
Introduced by Representative Binky April M. Tupas 
AN ACT 
MANDATING THE INCLUSION OF FINANCIAL LITERACY EDUCATION IN 
THE CURRICULA OF ELEMENTARY, SECONDARY, TERTIARY, AND 
TECHNICAL-VOCATIONAL SCHOOLS, COLLEGES, AND UNIVERSITIES 
EXPLANATORY NOTE 
In a changing and fast-paced global economy, making sound decisions 
is an essential life skills. One of the main factors contributing to financial 
illiteracy in the Philippines is the lack of financial education. In many schools, 
financial literacy is either minimally integrated or absent from the curriculum. As 
a result, students grow up without formal training in budgeting, saving, and 
investing, leaving them ill-prepared to handle their finances as adults. Lack of 
financial knowledge exposes the youth to poor saving habits, exorbitant 
personal debt, financial dependency, and vulnerability to scams and 
misinformation. 
In 2022, the Bangko Sentral ng Pilipinas cited a global financial literacy 
study by Standard & Poor’s (S&P Global Ratings) and revealed that the 
Philippines ranked in the bottom 30 of 144 countries, with only 25% of Filipino 
adults considered financially literate.1 In 2024, the state of financial literacy in 
the Philippines reveals both significant challenges and areas for improvement. 
Financial literacy rates remain low, with recent statistics showing that only 
about 25% of Filipinos understand basic financial concepts. The majority still 
lack essential skills in budgeting, saving, and debt management.2  
This proposed measure seeks to address that gap by mandating the 
inclusion of financial literacy education as a core component in the curricula of 
all public and private schools from elementary to tertiary and technical-
vocational levels. It aims to embed financial literacy throughout all stages of 
learning to ensure that students gradually develop the competencies needed 
to manage finances effectively. 
The bill outlines a detailed and age-appropriate curriculum, ranging from 
foundational money skills in elementary school to advanced financial planning, 
taxation, and entrepreneurship in higher education. It also ensures that 
1https://www.bworldonline.com/economy/2024/05/16/595655/improved-financial-literacy-still-needed-
among-filipinos/ 
2 Financial Literacy in the Philippines 2024: Key Statistics 
August 26, 2025
3:04 pm
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TWENTIETH CONGRESS OF THE 
) 
REPUBLIC OF THE PHILIPPINES 
) 
First Regular Session 
) 
HOUSE OF REPRESENTATIVES 
H. No. ___
Introduced by Representative Binky April M. Tupas 
AN ACT 
MANDATING THE INCLUSION OF FINANCIAL LITERACY EDUCATION IN 
THE CURRICULA OF ELEMENTARY, SECONDARY, TERTIARY, AND 
TECHNICAL-VOCATIONAL SCHOOLS, COLLEGES, AND UNIVERSITIES 
Be it enacted by the Senate and House of Representatives of the 
Philippines in Congress assembled: 
SECTION 1. Short Title. – This Act shall be known as the “Financial 
Literacy in Schools Act.” 
SEC. 2. Declaration of Policy. – It is hereby declared the policy of the 
State to develop a national consciousness in economic and financial literacy. 
The State recognizes the growth potential of the country through a financially 
literate citizenry capable of making sound financial decisions, mobilizing 
savings, and contributing to the improvement of economic and financial policies 
and programs. To this end, financial literacy shall be incorporated as a standard 
and essential component of Philippine education in all levels of educational 
learning - from basic to higher education, including technical-vocational 
education. 
SEC. 3. Curriculum Integration. – The Department of Education 
(DepEd), Commission on Higher Education (CHED), and the Technical 
Education and Skills Development Authority (TESDA) shall integrate financial 
literacy education into the basic, secondary, tertiary and technical-vocational 
curricula, beginning at the earliest grade levels, and thereafter be adapted 
incrementally according to age and academic capability. 
SEC. 4. Curriculum Content. – The financial literacy curricula shall be 
competency-based and contextualized to real life circumstances using 
interactive, practical, and localized content. The elementary, secondary, 
tertiary, and technical-vocational education curricula which shall cover, but not 
be limited to the following topics: 
A. For Elementary Education:
(Foundation-level financial habits and understanding)
1. Recognizing money: denominations, coins, and bills
2. Needs vs. wants: understanding spending priorities
3. The concept of saving and basic piggy bank habits
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4. Making simple choices with limited resources 
5. Introduction to earning through basic tasks and rewards 
6. Budgeting for daily expenses (e.g, school allowance) 
 
B. For Secondary Education  
(Basic financial skills and real-life applications) 
 
1. Setting short-term and long-term savings goals 
2. Introduction to bank accounts: how savings accounts work 
3. Responsible spending and avoiding impulsive buying 
4. The value of work and understanding income sources 
5. Introduction to entrepreneurship through school-based activities 
6. Creating a personal budget and tracking expenses 
7. Understanding interest, inflation, and compounding 
8. Introduction to credit cards, digital payments and online banking 
 
C. For Tertiary and Technical-Vocational Education: 
(Advanced financial concepts for adult decision-making) 
 
1. Personal financial planning and goal setting 
2. Investments: types, risk, returns (stocks, mutual funds, etc.) 
3. Basics of insurance (life, health, non-life) and risk management 
4. Understanding 
income 
tax, 
deductions, 
and 
government 
contributions (SSS, PhilHealth, Pag-IBIG) 
5. Creating a business plan and small business financial 
management 
6. Consumer rights and responsibilities under existing laws 
7. Financial fraud prevention and cybersecurity in digital finance 
8. Evaluating and comparing financial products and services 
 
 
Contents on financial literacy shall be reviewed and updated periodically 
in light of changes in the economic environment, emerging technologies and 
new financial tools. Teaching methods shall promote practical application, 
critical thinking and ethical decision making. 
 
SEC. 5. Inter-Agency Collaboration. – In order to ensure coherence and 
integration with national standards and economic realities, the DepEd, CHED, 
and TESDA shall consult and coordinate with the following agencies in the 
development, training, and implementation of the curriculum: 
 
● National Economic and Development Authority (NEDA) 
● Department of Finance (DOF) 
● Department of Trade and Industry (DTI) 
● Bangko Sentral ng Pilipinas (BSP) 
 
 
Such agencies shall provide technical assistance, content validation and 
current financial data or resources pertinent to educational needs. 
 
SEC. 6. Private Sector Participation. – The State recognizes the 
importance of the private sector – Banks, Financial Institutions, Non-
Governmental 
Organizations 
(NGOs), 
Educational 
Foundations 
and 
Professional Associations– in furthering financial literacy in the country. 


 
In order to implement the objectives of this Act, the Department of Education 
(DepEd), Commission on Higher Education (CHED) and Technical Education 
and Skills Development Authority (TESDA) shall also encourage its partner 
organizations in the private sector to work together in the development, 
enhancement and delivery of financial education program. 
 
 
The private sector participation may include but is not limited to: 
 
(a) Providing age-appropriate learning materials, financial tools, and digital 
content; 
 
(b) Providing training, workshops or financial literacy seminars at schools or 
community venues; 
 
(c) Supporting capacity-building efforts for educators and administrators; 
 
(d) To develop relevant simulations or programmes promoting interaction 
with the real world in terms of finances (e. g., savings schemes, 
budgeting exercise, entrepreneurship efforts); and 
 
(e) Provide scholarships, grants or sponsorship to support financial 
education programs in public schools and the less-privileged. 
 
 
All such partnerships shall be in keeping with established policies and 
ethical standards in the field of education as well as in acknowledging the non-
commercial nature of formal education; the DepEd, CHED, and TESDA shall 
not set out guidelines to regulate and oversee such engagements. 
 
SEC. 7. Capacity Building for Educators. – The DepEd, CHED, and 
TESDA shall develop and implement training programs for teachers, 
instructors, and administrators to ensure the effective delivery of financial 
education. This includes: 
 
(a) Pre-service and in-service training modules; 
 
(b) Certification or professional development requirements; and 
 
(c) Access to instructional materials, financial tools, and technology 
 
 
Partner agencies and academic institutions may assist in the training 
design and execution. 
 
SEC. 8. Appropriations. – The amount necessary for the initial 
implementation of this Act shall be charged against the current year’s 
appropriations of the departments and agencies concerned. Thereafter, funds 
necessary to carry out the provisions of this Act shall be included in the General 
Appropriations Act of the year following its enactment into law and thereafter. 
 
SEC. 9. Implementing Rules and Regulations. – Within ninety (90) 
days from the effectivity of this Act, the DepEd, CHED, TESDA, and DOF shall 


promulgate the rules and regulations for the effective implementation of this 
Act. 
 
SEC. 10. Repealing Clause. – All laws, presidential decrees, executive 
orders, memoranda, rules, and regulations contrary to or inconsistent with the 
provisions of this Act, are hereby repealed, amended, or modified accordingly. 
 
SEC. 11. Separability Clause. – If any part or provision of this Act is 
declared unconstitutional or invalid, the remaining parts of provisions not 
affected shall remain in full force and effect. 
 
SEC. 12. Effectivity. – This Act shall take effect fifteen (15) days after 
its publication in the Official Gazette or in a newspaper of general circulation.