Gov't, private sector ink MOA on financial education program

By Anna Leah Gonzales

June 8, 2023, 6:42 pm

MANILA – The National Economic and Development Authority (NEDA) signed a multi-party memorandum of agreement to institutionalize a curriculum that will help students achieve financial independence.

In a statement, NEDA said the MOA signed on Thursday seeks to establish the Personal Finance 101: “My Peso and I” curriculum as a three-unit elective course for selected higher education institutions (HEIs) nationwide.

NEDA is partnering with the Bangko Sentral ng Pilipinas (BSP), Commission on Higher Education (CHED), BPI Foundation Inc. (BPIF), and members of the Financial Sector Forum (FSF), such as the Insurance Commission, Philippine Deposit Insurance Commission, and Securities and Exchange Commission.

Personal Finance 101 is a curriculum that aims to provide college students with the fundamental knowledge and skills necessary to achieve financial independence.

Students will learn the basics of financial planning tools and techniques, as well as develop analytical skills to make crucial financial decisions regarding savings, credit, investments, insurance, and retirement planning.

“We commend this initiative that supports Chapter 11 of the Philippine Development Plan 2023-2028, on promoting an inclusive, innovative, and healthy financial sector. Financial literacy has been identified as a major strategy to broaden and deepen financial inclusion,” NEDA Undersecretary for Policy and Planning Rosemarie Edillon said.

Under their respective charters, mandates, and advocacies, NEDA will consistently support the integration of Personal Finance 101 in HEIs.

NEDA will also guide the development of course modules and other deliverables in all phases to ensure the successful implementation of this initiative. (PNA)