While speaking at the Financial Education Stakeholders Expo 2018 at the SMX Convention Center in Pasay City earlier this week, Department of Education (DepEd) Secretary Leonor Briones discussed the importance of financial literacy for teachers.

“One reason why employees go into debt is due to the delays in the payment of salaries, in the downloading of funds, etc.,” she explained.

The cabinet official said one of her first acts as secretary was to probe the spending habits of teachers to see why many have reported financial issues, which prompted the agency and other government offices to place a focus on financial literacy.

DepEd currently administers Financial Literacy Education, a program that educates teachers on the subject.

Last month, the Bacolod City Sangguniang Panlungsod passed a resolution endorsing Senate Bill 2034, which seeks to raise the minimum monthly wage for teachers to P28,000 and non-teaching personnel to P16,000.

The resolution, authored by City Councilor Wilson Gamboa, Jr., said an increased minimum wage would “negate the image of the teacher as poor and buried in debt.”/WDJ