1 
    Republic of the Philippines  
HOUSE OF REPRESENTATIVES 
Quezon City, Metro Manila 
NINETEENTH CONGRESS 
Second Regular Session 
HOUSE BILL NO. 10256 
Introduced by ANG PROBINSYANO  
Party-List Representative Alfred Delos Santos 
EXPLANATORY NOTE 
In recognizing the pivotal role of financial literacy for individual and 
national economic prosperity, this legislative proposal seeks to address a 
critical gap in the Philippines' educational framework. Despite financial 
literacy's acknowledged importance in fostering financial stability and 
economic growth, the Philippines faces significant challenges in this area. 
Recent global and national surveys have revealed concerning statistics: only 
two in ten Filipinos achieved perfect scores on basic financial literacy 
questions, and while seven in ten managed to answer at least half of the 
questions correctly, a deeper analysis shows substantial areas for 
improvement. In 2021, only 42% of adults could correctly identify the impact 
of inflation on purchasing power.1 Moreover, the World Bank's findings 
underscore the urgency of the situation, indicating that a mere 25% of adult 
Filipinos possess an understanding of fundamental financial concepts.2 
These figures highlight a glaring need for enhanced financial education 
among the Philippine population. To effectively combat the low levels of 
financial literacy and its consequent barriers to economic advancement and 
poverty reduction, this bill proposes the integration of financial literacy as a 
core subject within the K-12 education system. By formalizing financial 
education from an early age, we aim to cultivate a generation of financially 
1  Bangko Sentral ng Pilipinas. (November 21, 2022). Strengthening Financial Health 
through Financial Literacy. 
https://www.bsp.gov.ph/SitePages/MediaAndResearch/SpeechesDisp.aspx?ItemId=993#
:~:text=The%20World%20Bank%20found%20that,knowledgeable%20on%20basic%20fi
nancial%20concepts. 
2  Id. 
April 17, 2024
8:03 am


2 
knowledgeable citizens, equipped to make informed decisions, contribute to 
the nation's economic development, and achieve personal financial freedom. 
The integration of financial literacy into the educational curriculum 
represents a strategic investment in the country's future, promising to elevate 
the standard of living and well-being of its citizens while reducing dependence 
on governmental support. Given the critical nature of this educational reform, 
the immediate passage of this bill is earnestly advocated. 
ALFRED DELOS SANTOS 


3 
    Republic of the Philippines  
HOUSE OF REPRESENTATIVES 
Quezon City, Metro Manila 
NINETEENTH CONGRESS 
Second Regular Session 
HOUSE BILL NO. 10256 
Introduced by ANG PROBINSYANO  
Partylist Representative Alfred Delos Santos 
AN ACT TO MANDATE FINANCIAL LITERACY EDUCATION IN THE K-12 
SYSTEM, ESTABLISHING IT AS A CORE SUBJECT FOR ENHANCING 
ECONOMIC SELF-SUFFICIENCY AND NATIONAL DEVELOPMENT 
Be it enacted by the Senate and the House of Representatives of the 
Philippines 
in 
Congress 
assembled: 
SECTION 1. Title. – This Act shall be known as the “Financial Literacy in Basic 
Education Act.”  
SECTION 2. Declaration of Policy. – It is hereby declared the policy of the 
State to equip the youth with the necessary knowledge and skills to make 
informed and effective decisions with all of their financial resources. 
Understanding that financial literacy is crucial for personal financial stability 
and the economic growth of the country, the State shall integrate financial 
literacy into the K-12 education system to foster financially literate citizens. 
SECTION 3. Integration of Financial Literacy – The Department of Education 
(DepEd), in coordination with the Bangko Sentral ng Pilipinas (BSP) and other 


4 
 
relevant agencies and stakeholders, shall develop and integrate financial 
literacy education into the K-12 curriculum. The curriculum shall cover, but 
not be limited to, the following topics: 
a) Basic money management; 
b) Savings and investment; 
c) Budgeting and financial planning; 
d) Understanding credit and debt management; 
e) Fundamentals of Entrepreneurship; 
f) Consumer rights and responsibilities; 
g) Basic Tax Principles. 
 
SECTION 4. Teacher Training and Resources – The DepEd, in collaboration 
with the BSP and other financial education providers, shall ensure that 
adequate training and resources are provided to teachers delivering financial 
literacy education. This may include the development of training programs, 
teaching guides, and the integration of financial literacy in teacher education 
and professional development programs. 
 
SECTION 5. Partners for Financial Education – The DepEd is authorized to 
enter 
into 
partnerships 
with 
the 
private 
sector, 
non-government 
organizations, and financial institutions to develop and support financial 
education initiatives, including the provision of instructional materials, guest 
lectures, and experiential learning opportunities for students. 
 
SECTION 6. Monitoring and Evaluation – The DepEd shall establish a 
framework for the monitoring and evaluation of the financial literacy education 
program to assess its effectiveness in improving the financial literacy of 
students. The framework shall include mechanisms for regular review and 
updating of the curriculum to ensure its relevance and effectiveness. 
 
SECTION 7. Appropriations. – The amount necessary to carry out the initial 
implementation of this Act shall be charged against the current year's 


5 
 
appropriations of the DepEd. Thereafter, such amount as may be necessary 
for the continued implementation of the Act shall be included in the annual 
General Appropriations Act. 
 
SECTION 8. Implementing Rules and Regulations. – The Secretary of 
Education, in coordination with the Governor of the Bangko Sentral ng Pilipinas 
and other relevant stakeholders, shall issue the necessary rules and 
regulations for the effective implementation of this Act within ninety (90) days 
after its enactment. 
 
SECTION 9. Separability Clause – If any provision of this Act is declared 
invalid or unconstitutional, the other provisions not affected shall remain in 
full force and effect. 
 
SECTION 10. Repealing Clause – All laws, decrees, orders, rules and 
regulations, or parts thereof inconsistent with the provisions of this Act are 
hereby repealed or modified accordingly. 
 
SECTION 12. Effectivity. – This Act shall take effect fifteen (15) days after 
its publication in the Official Gazette, or in a newspaper of general circulation 
in the Philippines.