BSP Wants Youth to be Financial Literate

The Financial Inclusion Steering Committee (FISC) launched the Youth Financial Inclusion (YFI) Initiative on 20 January 2025, aiming to boost youth account ownership and build a financially capable next generation of Filipinos.

​Aligned with the National Strategy for Financial Inclusion (NSFI) 2022-2028, the YFI Initiative prioritizes the youth, recognizing their potential to drive financial inclusion, innovation, and economic growth.

BSP Deputy Governor Bernadette Romulo-Puyat underscored the program’s importance, stating: “With the YFI Initiative, we are inviting the Filipino youth to innovate and dream big, not just for themselves but for the country.”

The program includes two key components:

1. YFI Ambassadors Program – Participants will create action plans to promote financial inclusion and improve financial health in their communities.

2. YFI Hackathon – A competition designed to generate innovative, community-based solutions to financial inclusion challenges. Winning ideas may be implemented.

Both programs will culminate in the Youth Congress, scheduled for the second quarter of 2025.

The initiative has gained support from government agencies like the National Youth Commission (NYC) and Presidential Communications Office (PCO). NYC Chairperson Jeff Ortega highlighted its impact, saying: “Through the YFI Initiative, young Filipinos can equip themselves with the right financial knowledge and skills needed to not only transform their own lives, but also play a vital role in building a stronger Philippines.”

Communications and Capacity Development Division Chief Krizia Casey Avejar, representing the PCO added: “Let us work together to inspire a generation of financially aware and resilient Filipinos.”

Beyond account ownership, the YFI Initiative promotes financial education, consumer protection, and regulatory support for youth financial inclusion. It also fosters collaboration among stakeholders, including financial regulators, service providers, youth groups, students, and educators, while strengthening advocacy for financial inclusion.

By empowering the Filipino youth, the initiative seeks to build financial resilience, improve financial health, and enable their contribution to the country’s economic growth.