Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City, Metro Manila 
TWENTIETH CONGRESS 
First Regular Session 
HOUSE BILL NO.____ 
Introduced by Representative MA. VICTORIA CO-PILAR 
EXPLANATORY NOTE 
Financial literacy is defined as the "ability of a person/ individual to make better 
and informed financial decisions to manage their wealth properly." 
Based on the Bangko Sentral ng Pilipinas' 2021 Financial Inclusion Survey, only 
two percent (2%) of Filipinos are able to answer all six basic financial literacy questions, 
while sixty-nine percent (69%) correctly answered half of the six questions. 
The survey also showed that only around forty-two percent (42%) of respondents 
correctly understood the effects of inflation on their purchasing power, lower than the 
fifty-five percent (55%) recorded in 2019. 
This bill seeks to establish a robust framework for enhancing financial literacy 
across all segments of society. Recognizing the critical role of financial education in 
empowering individuals to make sound financial decisions, the bill mandates the 
integration of comprehensive financial literacy curricula into school systems, from 
elementary to high school levels. This entails the development of age-appropriate content 
and training programs for educators to effectively deliver financial education. 
Additionally, the bill advocates for public awareness campaigns to underscore the 
importance of financial literacy and promote active engagement in financial education 
initiatives. Collaboration between educational institutions and financial entities is 
encouraged to develop educational materials and workshops aimed at bolstering 
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financial literacy. Furthermore, the bill supports the implementation of continuing 
education programs for adults, ensuring access to ongoing financial education beyond 
formal schooling. Regular evaluation and reporting requirements are established to 
monitor the effectiveness of financial literacy programs. By equipping individuals with 
the knowledge and skills to navigate complex financial decisions, the Financial Literacy 
Education Act aims to empower citizens, reduce financial vulnerability, and foster long-
term economic stability. 
 
In view of the foregoing, the approval of this bill is earnestly sought.  
 
 


Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City, Metro Manila 
TWENTIETH CONGRESS 
First Regular Session 
HOUSE BILL NO.____ 
Introduced by Representative MA. VICTORIA CO-PILAR 
AN ACT 
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MANDATING THE INCLUSION OF FINANCIAL LITERACY 
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EDUCATION AS A COURSE IN THE ELEMENTARY, SECONDARY, TERTIARY, 
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AND TECHNICAL-VOCATIONAL EDUCATION CURRICULUM IN ALL PUBLIC 
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AND PRIVATE SCHOOLS, COLLEGES, AND UNIVERSITIES 
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Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
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assembled: 
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SECTION 1. Short Title. - This Act shall be known as the "Financial Literacy Education 
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Act of the Philippines. " 
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SECTION 2. Declaration of Po1icy. It is hereby declared the policy of the State to 
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promote financial literacy among its citizens through strengthening the foundation of 
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financial literacy awareness and education throughout all the stages in the Philippine 
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Education System in recognition of this essential life skill as a vital tool in improving the 
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socio-economic welfare of all Filipinos towards eventually developing a more 
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sustainable economy in the long-term. 
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SECTION 3. Integration of Financial Literacy as a Separate Course in the Curriculum 
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— The Department of Education (DepEd), Commission on Higher Education (CHED), 
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and Technical Education and Skills Development Authority (TESDA) shall be tasked to 
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include Financial Literacy education in their respective existing and prevailing 
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curriculum for all students. They shall collaborate with the Department of Finance 
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(DOF) and the Bangko Sentral ng Pilipinas (BSP) in developing academic standards and 
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curriculum content för the purpose of this bill. 
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SECTION 4. Coverage — The DepEd, BSP, and other relevant agencies and 
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stakeholders, shall develop and integrate financial literacy education into the 
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elementary, secondary, tertiary, and technical-vocational education curricula which 
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shall cover, but not be limited to the following topics: 
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a. Basic money management; 
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b. Savings, banking, and investment; 
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c. Budgeting and financial planning;  
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d. Understanding credit and debt management; 
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e. Fundamentals of Entrepreneurship; 
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f. Consumer rights and responsibilities; and 
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g. Basic Tax Principles.  
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SECTION 5. Appropriations — The amount necessary for the initial implementation of 
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this Act shall be charged against the current year's appropriations of the departments 
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and agencies concerned. Thereafter, funds necessary to carry out the provisions of this 
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Act shall be included in the General Appropriations Act of the year following its 
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enactment into law and thereafter. 
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SECTION 6. Implementing Rules and Regulations. — Within ninety (90) days from the 
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effectivity of this Act, the DepEd, CHED, TESDA, and DOF shall promulgate the rules 
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and regulations for the effective implementation of this Act. 
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SECTION 7. Repealing Clause. — All laws, presidential decrees, executive orders, 
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memoranda, rules, and regulations contrary to or inconsistent with the provisions of 
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this Act are hereby repealed, amended or modified accordingly. 
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SECTION 8. Separability Clause. — If any part or provision of this Act is declared 
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unconstitutional or invalid, the remaining parts of provisions not affected shall remain 
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in full force and effect. 
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SECTION 9. Effectivity. — This Act shall take effect fifteen (15) days after its 
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publication in the Official Gazette or in a newspaper of general circulation. 
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Approved, 
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