THE House of Representatives on Tuesday approved a bill seeking to require higher education institutions to have a personal financial literacy course (PFLC) in their curricula. With 251 lawmakers voting for its passage, House Bill 7628 hurdled its third and final reading during the plenary session on Tuesday. The bill also mandates the inclusion of a PFLC in the curricula of technical-vocational institutions, as well as Technical Education and Skills Development Authority (Tesda) training centers. "Financial literacy is life literacy. When students understand savings, credit, and risk early, they protect themselves and their families as they step into adult responsibilities," the bill's authors said. The bill states the PFLC shall include the concept of personal finance; time value of money; "[c]onsumer behavior in the context and culture of the Philippines"; debt management and rehabilitation; savings, emergency, and resilience fund development; investment concepts and planning; retirement planning; insurance planning; credit scoring and credit reports; concept of financial education; "[p]ertinent topics on effective utilization of digital payment platforms, such as modules on observing cyber-hygiene to help safeguard cybersecurity, data integrity, and consumer protection in adopting digital financial services"; and "[o]ther financial literacy issues and concerns." The bill mandates the Commission on Higher Education and Tesda to collaborate with the Bangko Sentral ng Pilipinas, Department of Finance, Securities and Exchange Commission, and Insurance Commission "in developing academic standards, curricula, and materials for the PFLC."