What is Financial Literacy

Financial literacy is the education and understanding of various financial areas including topics related to
managing personal finance, money and investing. This topic focuses on the ability to manage personal
finance matters in an efficient manner, and it includes the knowledge of making appropriate decisions
about personal finance such as investing, insurance, real estate, paying for college, budgeting, retirement
and tax planning.

The main steps to achieving financial literacy include learning the skills to

1. create a budget

2. track spending

3. learning the techniques to pay off debt

Education about the topic involves understanding how money works, creating and achieving financial
goals and managing internal and external financial challenges.

https://www.investopedia.com/terms/f/financial-literacy.asp

Bangko Sentral ng Pilipinas Successfully Conducts 1st Financial Education Stakeholders Expo

01.03.2019

Key stakeholders, leaders, decision-makers, influencers and representatives from public and private
institutions, development partners, international organizations, civic society and the academe convened
at the SMX Convention Center Manila last 27 and 28 November 2018 for the first ever Financial
Education Stakeholders Expo organized by the Bangko Sentral ng Pilipinas (BSP).

In her keynote address, BSP Deputy Governor Chuchi Fonacier stated that “We are all stakeholders with
significant roles to play to achieve an obvious public good – a high level of financial literacy in the
Philippines… We want this generation, and the next ones, to be highly literate and financially capable to
attain prosperity. We have the collective ability to make this happen.”

Department of Education (DepEd) Secretary Leonor Magtolis-Briones, in her keynote, likened the
800,000-strong DepEd personnel to an “army,” underscoring their significant role in teaching young
learners the value of prudent money management, and the importance of being models of financial
literacy themselves.

In the spirit of partnership, the Expo was supported by Asian Development Bank, Bank Marketing
Association of the Philippines, The Praxis Company and Visa Foundation. Expo activities included talks
on financial stewardship by well-known personal finance coaches and advocates such as Francis Kong,
Salve Duplito, Rose Fres Fausto, Ardy Roberto, Chinkee Tan and Randell Tiongson. Plenary discussions
focused on the financial education landscape in the Philippines and around the world, innovative
approaches to delivering financial education messages to a variety of audiences, and examples of private
sector initiatives in financial education as part of their corporate social responsibility.

Expo participants enjoyed a theater production called “Lukot-Lukot, Bilog-Bilog” which teaches saving and
budgeting concepts in a creative way. They also participated in The Praxis Game, an interactive board
game that simulates market situations and real life socio-economic scenarios while players make critical
financial decisions to finish the game with the highest possible amount of retirement money. Alongside
the plenary sessions and activities was an exhibit, wherein selected private and non-government entities
showcased their financial education programs and other advocacy activities.
The 2018 Expo is the beginning of an annual tradition where the BSP, DepEd and key financial education
stakeholders can continue to engage, build connections and pave the way for more productive, impactful
partnerships in financial education.

The Expo supports Republic Act No. 10922, which designates the second week of November as
Economic and Financial Literacy Week. It is also aligned with the objectives of the Philippine National
Strategy for Financial Inclusion, the BSP advocacy for financial education, and the BSP mandates of
maintaining price stability, financial stability and efficient payments system.

http://www.bsp.gov.ph/publications/media.asp?id=4890&yr=2019

For Q2 2019 survey:

http://www.bsp.gov.ph/downloads/Publications/2019/BES_2qtr2019.pdf

https://www.indexmundi.com/philippines/demographics_profile.html
https://countrymeters.info/en/Philippines#age_structure

Meet the Inspiring Filipinos on Forbes’ 30 Under 30 Asia List

https://www.esquiremag.ph/money/movers/filipinos-forbes-30-under-30-asia-list-2019-a00287-20190402