Empowering Filipino youth through financial literacy
Bayad and DepEd’s Sapat Dapat Comprehensive School Program is on its third year of molding future financial leaders in Grades 9 to 12 students of 40 adopted schools in Regions 7 and 4A.
Daily TribuneBayad and DepEd’s Sapat Dapat Comprehensive School Program is on its third year of molding future financial leaders in Grades 9 to 12 students of 40 adopted schools in Regions 7 and 4A.
The program recently held the Sapat Dapat Quizbee on Financial Literacy. | PHOTOGRAPH COURTESY OF BAYAD
Based on the 2021 Financial Inclusion Survey by the Bangko Sentral ng Pilipinas, the number of Filipino adults without savings increased to 63 percent from 47 percent in 2019, partly attributed to the global health crisis that may have reduced household income or increased medical expenses.
The BSP added that the percentage of savers significantly declined, particularly among adults in the National Capital Region, South Luzon, and Visayas regions. "The lower incidence of savings in 2021 was recorded across geographical areas except in Mindanao, which registered an increase and surpassed all areas," the report said.
To address this situation, Bayad, formerly known as Bayad Center, the pioneer and industry leader in bill payments, and the Department of Education have launched a comprehensive school program called "Bayad: Sapat Dapat." This advocacy reinforces the importance of financial literacy and management in the formation years of Filipino students.
The five-year program recently held the Sapat Dapat Quizbee on Financial Literacy, where majority of secondary public and private schools in all divisions of Region 7 and Region 4A participated. The eliminations started last February 2022, with the remaining 45 students competing in the finals held virtually on 8 September under the supervision of DepEd, Bayad, and Marylindbert International Inc.
After a series of case studies and questions on financial management, savings, and priority-setting, the City of Bogo Science and Arts Academy from Bogo Cebu emerged as this year's Quizbee Champion, represented by its Grade 9 student, Angel L. Mollona, and coach Natasha Jane Y. Estrera.
Angel said: "Ang pag-apil sa Sapat Dapat Quiz Bee sa Financial Literacy magahatag sa atong mga estudyante og maayong pagsabot sa sukaranang mga prinsipyo ug ideya kon unsaon pagdumala sa kuwarta sa wais nga pamaagi, ug sa samang higayon naga-andam kanato alang sa umaabot diin kini nga mga leksyon magamit kanato sa pagtukod ug kaugalingong pamilya ug karera." ("Participating in the Sapat Dapat Quiz Bee on Financial Literacy gives us students a good grasp of basic principles and ideas on how to manage our money wisely, and at the same time prepares us for a future where these lessons can be applied when we build our own families and career.")
Joining Angel in the roster of financial literacy champions were second placer Maria Theofannie P. Alviola of Ramon Teves Pastor Memorial Dumaguete Science High School; third placer Marcus L. Cionello Jr. of Mabolo National High School; fourth placer Ivan C. Bunaos of Babag National High School; and fifth placer Mariel Miculob of Tabalong National High School.
Cebu City Education Program Supervisor and School Governance Operations Division OIC Chief Lyra L. Illaga lauded the financial literacy program: "We are grateful for Bayad and Marylindbert International for inviting us to be a part of the Sapat Dapat Comprehensive School Program Financial Literacy Quiz Bee. We are looking forward to continuing collaboration as we open more doors in the development of our learners. Financial education is key in attaining youth empowerment and economic well-being, para sa bata, para sa bayan."
Bayad and DepEd's Sapat Dapat Comprehensive School Program is on its third year of molding future financial leaders in Grades 9 to 12 students of 40 adopted schools in Regions 7 and 4A.
"We envision the Sapat Dapat program as a tool that will equip our students with the proper knowledge on budgeting and money matters, as these will significantly help in their financial decisions later on," said Wendell P. Labre, Bayad's AVP and Head for Corporate Branding & Marketing Services. "By teaching both children and adults the value of financial literacy, we become instrumental in empowering Filipinos and bringing the nation's financial awareness to the next level. This is the bigger picture. This is what we stand for."
