The Financial Education and Literacy Act
Filed on April 15, 2026, and referred to the Committees on Basic Education and Finance; it has been pending in the committee since then with no recorded action.
The bill addresses a significant gap in financial literacy among Filipino youth, as highlighted by recent surveys.
The bill responds to the urgent need for financial literacy education in light of increasing financial technology use among youth.
The Financial Education and Literacy Act
The Financial Education and Literacy Act aims to integrate basic financial literacy as a core subject in junior and senior high school curricula and as part of the K to 12 program, with funding appropriated for its implementation.
Compared with current law:
Financial literacy is not a core subject in high school.
Financial literacy will be a core subject in junior and senior high school.
No standardized curriculum for financial literacy exists.
A standardized curriculum for financial literacy will be developed by DepEd.
Limited financial literacy education in elementary schools.
Foundational financial literacy concepts will be integrated into elementary subjects.
The main goal of the Financial Education and Literacy Act is to integrate basic financial literacy as a core subject in junior and senior high school curricula, ensuring that students are equipped with essential financial skills.
Source · full text✦ Dashed tags are AI-suggested nuance; solid tags follow the committee taxonomy.
Stalled: the bill has sat in committee for over five months with no action since its referral on May 5, 2026.
No floor deliberations yet — this measure has not reached plenary. Its committee-stage actions appear under Legislative history above.
Senate TWENTIETH CONGRESS OF THE cas Office of the Secretary REPUBLIC OF THE PHILIPPINES First Regular Session APR 15 P 3:59 SENATE RECEIVED BY: Senate Bill No. 2046 Introduced by Senator Juan Miguel "Migz" F. Zubiri AN ACT INTEGRATING BASIC FINANCIAL LITERACY AS A CORE SUBJECT IN THE JUNIOR AND SENIOR HIGH SCHOOL CURRICULA AND AS AN INTEGRATED COMPONENT OF THE K TO 12 PROGRAM, AND APPROPRIATING FUNDS THEREFOR EXPLANATORY NOTE In the 2014 Standard and Poor's Financial Literacy Survey, it was found that only 25 percent (25%) of Filipino adults are financially literate. According to the same study, a lack of understanding of basic financial concepts translates into a lack of the skills needed to effectively manage one's finances. Financial literacy, therefore, enables individuals to make informed decisions regarding saving, investing, borrowing, and other financial matters. Moreover, the 2021 Financial Inclusion Survey of the Bangko Sentral ng Pilipinas showed that only two percent (2%) of Filipinos were able to correctly answer all six (6) basic financial literacy questions, while 69 percent (69%) of adults correctly answered at least half. With rapid advancements in financial technology, as well as wider and easier access to digital wallets, online shopping, and credit, the need to educate and guide today's tech-savvy youth on financial concepts and risks is now more important than ever. Integrating basic financial literacy into the junior and senior high school curricula, including topics such as budgeting, saving, investing, debt management, and retirement planning, will ensure that students are equipped with the knowledge and skills necessary to make informed financial decisions throughout their lives. It will promote
responsible spending and a more disciplined and thoughtful financial behavior, ultimately fostering financial resilience and well-being for individuals and their families. In view of the foregoing, the immediate passage of this bill is earnestly sought. JUAN MIGUEL F. ZUBIRI
Senate Office of the Secretarp TWENTIETH CONGRESS OF THE REPUBLIC OF THE PHILIPPINES First Regular Session 26 APR 15 P 3:59 SENATE RECEIVED BY: Senate Bill No. 2046 Introduced by Senator Juan Miguel "Migz" F. Zubiri AN ACT INTEGRATING BASIC FINANCIAL LITERACY AS A CORE SUBJECT IN THE JUNIOR AND SENIOR HIGH SCHOOL CURRICULA AND AS AN INTEGRATED COMPONENT OF THE K TO 12 PROGRAM, AND APPROPRIATING FUNDS THEREFOR 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 Education
and Literacy Act".
SEC. 2. Declaration of Policy. - The State recognizes that financial literacy is
an essential life skill and a fundamental component of modern education. Empowering citizens with financial knowledge is crucial in fostering individual well-being, 7 strengthening the family, building national economic resilience, and enabling informed participation in the nation's development. Financial literacy shall form part of the implementation of curriculum modernization together with improvement on learning outcomes assessment, and 12 teacher development, to raise education quality. To this end, the State shall: (a) Introduce Basic Financial Literacy as an integral part of the basic education curriculum; (b) Ensure that financial education becomes an integral part of formal learning; (c) Enhance the financial literacy capability of all young Filipinos; (d) Empower and equip the Filipino youth with the knowledge and skills to make sound financial decisions;
(e) Promote quality education that ensures an increasing number of Filipinos with relevant skills and competencies for productive lives; (f) Align the national financial education strategy with international standards and best practices; and (g) Support the broader national objectives for financial inclusion as articulated in the national Strategy for Financial Inclusion.
SEC. 3. Definition of Terms. - As used in this Act:
(a) Financial literacy refers to having the knowledge and comprehension of financial concepts and risks, along with the skills and attitudes needed to apply this understanding to make effective decisions across a range of financial contexts. (b) Financial educator refers to a professional teacher with competencies appropriate for teaching elementary, junior high school, and senior high school learners, respectively, and who teaches the skills and knowledge needed to manage money effectively, including topics like budgeting, saving, investing, debt management, and retirement planning.
SEC. 4. Institutionalization of the Financial Literacy Education. - The
financial literacy education shall be institutionalized as part of the basic education curriculum as a strategic and long-term investment in responsible citizenship, sound economic governance, and inclusive national growth. Basic Financial Literacy shall be included in the curriculum of both public and private basic education institutions nationwide. (a) Junior and Senior High School: Basic Financial Literacy shall be included as a separate core subject in the junior and senior high school curricula. All existing topics relating to financial literacy, which are integrated in the junior and senior high school curricula, such as Mathematics, Values Education, Araling Panlipunan, Technology and Livelihood Education (TLE), Physical Education and Health, Basic Accounting, Business Finance and Income Taxation, Business Economics, Entrepreneurship, Contemporary Marketing, and Organization and Management, shall be carved-out and realigned to come up with a separate subject on Financial Literacy. The inclusion of case studies in the core subject shall allow high school learners to better grasp the fundamental lessons and apply such learnings to real- world scenarios. (b) Elementary Level: The Department of Education (DepEd) shall ensure that foundational concepts of financial literacy are integrated into relevant subjects,
such as Mathematics, Good Manners and Right Conduct, Araling Panlipunan, Makabansa, and Edukasyon sa Pagpapakatao at Pamilya (EPP), at the elementary level, focusing on values necessary to become financially responsible citizens.
SEC. 5. Curriculum Development. - The DepEd shall, in consultation with the
6 Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), 7 Department of Finance (DOF), Department of Economy, Planning, and Development 8 (DEPDev), Insurance Commission (IC), Cooperative Development Authority (CDA), Department of Trade and Industry (DTI), Department of Budget and Management 10 (DBM), and other relevant private financial institutions, develop the curriculum for the subject, guided by international standards and best practices on financial education and 12 literacy, and aligned with fundamental accounting principles, ethical standards, and real world financial reporting and taxation practices. (a) The core subject on Basic Financial Literacy shall be designed to develop learner competencies in financial knowledge, financial skills, and financial attitudes and behaviors. The subject matter shall include, but are not limited to, the following topics, adapted as necessary according to grade level, and national, regional, or local circumstances: Basic Financial Concepts; Foundational Values in Personal Finance; Financial Values and Behaviors; Budgeting, Careers, Retirement Planning, and Fraud Awareness. It shall likewise include financial literacy concepts that have been integrated into existing learning areas from kindergarten to senior high school established by the DepEd, including all existing topics relating to financial literacy, which have been so integrated in junior and senior high school subjects, specifically carved-out and realigned to come up with a separate financial literacy subject. (b) The content of the subject shall be substantive, age-appropriate, relevant, and reflective of the realities faced by Filipinos. (c) The subject and topics shall be taught in English and Filipino, and translated as necessary in the local dialects.
SEC. 6. Learning Materials, Libraries and Community Engagement. -
There shall be a separate section in all public and private school libraries exclusively for financial literacy education materials. The DepEd shall ensure the development and provision of adequate and age-appropriate learning materials for this subject. To reinforce the competencies taught in school, the DepEd shall, in consultation with the SEC, BSP, DOF, DEPDev, IC, CDA, DTI, DBM, and the Department of the Interior and Local Government, develop and disseminate financial literacy awareness materials for parents and the wider community.
SEC. 7. Minimum Qualifications of Teaching Personnel. - The DepEd shall,
in consultation with the Civil Service Commission, DBM, and other relevant private financial associations and institutions, provide guidelines on the minimum qualifications and non-business-oriented competencies of financial educators, which shall be adapted as necessary to national, regional or local circumstances.
SEC. 8. Training and Capacity Building. - The DepEd shall, in coordination
with the SEC, BSP, DOF, DEPDeV, IC, CDA, DTI, and DBM, conduct continuous training and capacity-building programs for teachers to adequately equip them with subject matter knowledge in: (a) Designing and implementing the curriculum; (b) Assessing learners' needs and competencies; (c) Employing effective educational strategies and teaching methods; and (d) Upgrading learning tools and pedagogical resources.
SEC. 9. Monitoring and Evaluation. - The DepEd shall, whether through new
or existing systems, (a) be guided by international standard and best practices; (b) monitor the actual teaching of the subject in schools through various oversight mechanisms; (c) evaluate the competencies of students in financial knowledge, skills and behaviors via formal examinations, practical assessments and ad hoc regional or national contests; (d) establish a financial literacy council; (e) establish baseline surveys on the level of financial literacy of students to set a benchmark, recognize gaps, and measure progress over time; and (f) conduct a comprehensive review on the policy every four (4) years.
SEC. 10. Private Sector Participation. - The DepEd shall encourage
partnerships with the private sector such as banks, financial institutions, educational foundations, and professional associations, among others, in order to allow the DepEd greater flexibility to partner with qualified organizations for curriculum enrichment and teacher-support initiatives, subject to appropriate standards and oversight.
SEC. 11. Appropriations. - The amount necessary for the initial implementation
of this Act shall be charged against the appropriations of the DepEd. Thereafter, such sums as may be necessary for the continued implementation of this Act shall be included in the annual General Appropriations Act.
SEC. 12. Implementing Rules and Regulations. - The DepEd, in consultation
with the SEC, BSP, DOF, DEPDev, IC, CDA, DTI, and DBM, shall, within ninety (90) days from the effectivity of this Act, formulate the rules and regulations to effectively implement the provisions of this Act.
SEC. 13. Separability Clause. - - If any portion or provision of this Act is
declared unconstitutional, the remainder of this Act or any provisions not affected thereby shall remain in full force or effect.
SEC. 14. Repealing Clause. - Any law, presidential decree or issuance,
executive order, letter of instruction, rule or regulation inconsistent with the provisions of this Act is hereby repealed or modified accordingly.
SEC. 15. Effectivity. - This Act shall take effect fifteen (15) days following its
10 publication in the Official Gazette or in a newspaper of general circulation. Approved,
Reproduced from the Senate document. The official PDF is the authoritative version.