A pressing concern
According to a study by Standards and Poor on global financial literacy, the Philippines placed 30th out of 144 countries. In the study, only 2 out of 10 Filipinos correctly answered fundamental financial literacy questions in the study.
It is a nationwide concern, as financial literacy is defined as the capacity to understand and apply concepts that allow one to navigate the economic and financial aspects of life. Without this one is more likely to make financial decisions that can negatively impact their life in the long run.
