Financial literacy leads to better financial health.

In a broad sense, it is how individuals

effectively manage their finances and budgeting that have great impact on their every day’s life.
Various surveys and studies show that Filipinos’ financial literacy remains low for years. But are
they familiar with the idea of financial literacy?

In the context of the rising inflation, there is a huge opportunity for the banking industry to
ramp up on education and financial literacy. Without the basic know-how on managing
finances, people will be more at risk of making wrong decisions on how and where to save and
invest their money. In fact, this concept should be introduced in early childhood education, to
provide for a strong foundation on money management. (Zaldarriaga, 2022)

According to Montecillo (2015), Filipino adults were among the least knowledgeable about their
personal finances, presenting a major constraint to equitable economic development. The
people who have less idea with regards to financial literacy are those who don’t have access to
gain that knowledge. Singh (2019) said that part of the reason the poor stay poor is a lack
of financial literacy.

Many Filipinos have low income and that includes the job order government employees. Civil
Service Commission (Resolution No. 021430) defines Job Orders as “refers to the hiring of a
worker for piece work or intermittent job of short duration not exceeding six months and pay is
on a daily or hourly basis. It is to be understood that the piece work or job to be performed
requires special or technical skills not available in the agency and the same is to be
accomplished under the worker's own responsibility and with minimum supervision by the
hiring agency”.