Finally, a law that will inculcate financial literacy in our schools.
The new law says that:
SEC. 2. Declaration of Policy. – It is hereby declared the policy of the State to promote the sustained development of young Filipinos whose aptitude and skill in the field of finance and entrepreneurship shall be encouraged and honed through education and specialized training programs. Towards this end, the State shall establish, maintain, and support a complete, adequate, and integrated system of education and training to encourage the entrepreneurial spirit among our youth as well as support and promote the growth of young entrepreneurs nationwide.
click here to read full text of R.A 10679
Though this law will now inculcate financial literacy and entrepreneurship to the youth, it doesn’t mean we fully rely on it. Financial education should not only be something that is part of the curriculum but rather be part of the day-to-day life.
With that it should start at home. If parents become good example to their children and having the entire family know what goes in the household budget I believe the young Pinoys would have been better savers and later on investors.
I hope the ball continues to roll on this and that it shouldn’t just be in paper. May the government truly implement this so that this generation and the coming ones will be wiser than us and thus lead the country to the dream of becoming a first world nation.