Personal Finance for Mentors

Common Question:
Kailan po ba
magkakaroon ng
dagdag na sweldo
ang mga guro?
 Vision
We dream of Filipinos who
passionately love their country and
whose values and competencies
enable them to realize their full
potential and contribute
meaningfully to building
the nation.
As a learner-centered public
institution, the Department of
as stewards of the institution, ensure an
Education consistently improves
itself to better serve its
stakeholders.
Mission
To protect and promote the right
of every Filipino to quality, equitable,
culture-based and complete basic
education where:
Students learn in a child-friendly,
gender sensitive, safe and motivating
environment.
Teachers facilitate learning and
constantly nurture every learner.
Administrators and staff,
enabling and supportive environment
for effective learning to happen.
Family, community and other
stakeholders are actively engaged
and share responsibility for
developing life-long learners.
 The Teachers salary is not a
comprehensive solution for improving
performance and impact school quality.

But spending ones money well

will have substantive positive influence
in the performance of the job.
(Baker , 2012)
 Teachers Basic Salary

Public School Private School

Position: Teacher 1 Position/Rank: Teacher 2

Basic Salary Php 18,549.00 Basic Pay Php 12,845.35
PERA/ACA 2,000.00 Basic Non-Taxable
benefit 2, 422.69

Total Php 20,549.00 Total Php 15,268.04

 The top five concerns expressed by the teachers:

1. finding ways to supplement their income as a teacher,

2. paying for their children's college education,
3. whether they will have enough money for retirement,
4. knowing whether they are using the best strategies for
investing their money, and
5. knowing whether they are taking advantage of tax laws
that may benefit them.

(Way, W. & Holden, K., 2009)

 One responsibility of our
educational system is to empower
our youth to make smart decisions
including personal financial decisions
to prepare them for the future.

(Rose, C. & Beach, S., 2013)

 Teachers who have participated in these efforts were
mostly Social Studies and Mathematics teachers because
they are often seen as teachers who either
a) have relevant subject-matter backgrounds and/or
b) teach courses in which personal finance content could be
integrated easily.

Social studies teachers are more likely to have taken

a personal finance course, while math teachers are not.

(Yates, D. & Ward, C., 2011)

 Uncertainty about income insufficiency,
rising debt levels, personal bankruptcy and
adequacy of retirement savings are no longer
financial issues to be addressed solely by
individuals.

(Braunstein & Welch, 2002; Draut & Silva, 2004; O'Neill, 2006)
Other countries
considered personal finance to be a statutory part
of the school curriculum,
offered personal finance as a standalone course
putting it on an equal footing with other subjects;
made personal finance compulsory for schools to
offer but not compulsory for all students to enroll

(Hensly, B. J., 2011; Pallack, B., 2011)

Major concerns:
teachers recognize the need for personal finance
education, however, their capacity to teach'
is limited in terms of preparedness in both subject
matter and pedagogy;

enabling the teachers to better manage their

own finances will give them the confidence and the
skills to teach the subject effectively .

(Hensly, B. J., 2011; Pallack, B., 2011)

How are we
faring?
 3000 - 3999
Quick 501
1% 4000 - 4999
Facts 7891
20%
7000 - UP
20867 5000 - 5999
52% 6571
16%
6000 - 6999
4523
11%

Percentage Distribution of DepEd Region V Personnels

Net Take Home Pay as of June 2013
 3000 -
Quick 3999
725 4000 -
2% 4999
Facts 8708
20%
7000 - UP 5000 -
22382 5999
52% 6222
6000 - 15%
6999
4682
11%

Percentage Distribution of DepEd Region V Personnels

Net Take Home Pay as of December 2013
 COMPARATIVE PAYROLL DATA- PSU
PARTICULARS 2013 June 2013 December 2014 June
Amount % Amount % Amount %

GROSS (Salaries & PERA) 926,661,229.00 100% 977,023,591.00 100% 990,557,064.00 100%
Deductions:
Mandatory (GSIS,
PhilHealth & Pagibig) 90,484,058.11 10% 95,372,030.69 10% 96,698,325.76 10%

BIR 83,699,952.88 9% 106,011,699.47 11% 90,849,628.85 9%

Loans (GOCCs) 138,388,634.27 15% 139,720,981.77 14.3% 144,223,640.04 15%

Loans (PLIs) 302,183,458.47 33% 308,812,908.32 32% 354,653,173.14 35.8%

Insurance 23,825,149.41 2.6% 23,657,262.86 2.4% 24,798,836.36 3%

Other Deductions 7,846,214.38 1% 2,966,897.09 0.3% 2,377,992.25 0.2%

TOTAL 646,427,467.52 70% 676,541,780.20 69% 713,601,596.40 72%

NET TAKE HOME PAY 280,233,761.48 30% 300,481,810.80 31% 276,955,467.60 28%

No. of Employees (N) 39,784 42,241 42,802

Observations:
DepED RO Vs remittance to Private
Lending Institutions is more than twice its
remittance to GOCCs;

the average Net Take Home Pay is 30%;

the data reflects that almost none is left for

savings
 3000 - 3999
2114
18%
7000 - up
4762
42% 4000 - 4999
2045
18%
5000 - 5999
6000 - 6999 1362
1112 12%
10%
 PerForM is an initiative of DepEd RO V
in partnership with the Bangko Sentral ng
Pilipinas -Legazpi City & Naga City primarily
aimed at establishing a school-based
intervention program on personal finance that
will enable the teaching and non-teaching
personnel to be financially literate by end of
2016.
 recognize the need for personal
finance education;

provide technical assistance in

learning more about personal financial
education and pedagogy; and

enhance values and competencies

along personal financial education.
 Newly hired teachers who want to
start early with a good investment

In-service teachers and Non Teaching

Personnel - who want to regulate debts
or to stay out of debts

Retirees or nearing retirement

who have not decided yet where to invest
their retirement pay
 Compassion, prudence and the value of saving
Personal Finance Management
Decision Making Skills
Coaching, mentoring & financial advising skills
Strategies for reducing expenses, investing and
gaining financial independence
 Program and advocacy materials that can be utilized
in various levels
Practical strategies that can be adopted by the
targeted beneficiaries to develop the values and
competencies
Individual Personal Plan for Development
School Plan for Personal Development
A Financial advisor in every school
 The program will ensure the establishment of a
systems process for personal finance in DepEd RO V.
Improved perception of the teachers on personal
finance
Standardized process that will track the progress and
results of the implementation of the program
Identification of critical concerns on the implementation
that will form part of the recommendations for
program enhancement and curriculum integration
 Empowered DepEd Region V teaching and non-
teaching personnel who are able to identify
gaps and address them appropriately
More effective and efficient management of
teachers personal finance
Inspired teaching and non-teaching personnel
Transformed DepEd culture
Improved performance
Financially literate public school teachers ,
non-teaching personnel;
Curriculum integration in K to 12 Enhanced
Basic Education by SY 2016-2017
Target beneficiaries committed to achieve
the following by the end of :
FY 2014, monthly NTP of at least Php 4,500.00
FY 2015, monthly NTP of at least Php 6,000.00
FY 2016, monthly NTP of at least Php 7,500.00
 Currently:
Partnership between DepEd
and
Bangko Sentral ng Pilipinas

Later:
Establish collaboration with
other institutions/agencies
Dep Ed shall BSP shall provide technical
assistance along
conduct advocacy;
improving personal finance
address competency gaps management
through integration of the
program in TIP/INSET &
EBEP; managing or staying out
of debts;
ensure the delivery of
quality basic education to
motivate the public to take minimizing expenses;
full advantage of free
public education. becoming financially
independent.
 Plan to Prosper,
Prepare to Pay,
Postpone a Purchase -

PerForM!
Thank
you!