Youth Financial Inclusion Program Launched to Empower Filipinos

The Financial Inclusion Steering Committee (FISC) has launched the Youth Financial Inclusion (YFI) Initiative to boost financial literacy and account ownership among young Filipinos, aiming to build a financially capable next generation.

The initiative, launched on January 20, 2025, aligns with the National Strategy for Financial Inclusion (NSFI) 2022-2028, which prioritizes the youth as key drivers of financial inclusion, innovation, and economic growth.

BSP Deputy Governor Bernadette Romulo-Puyat emphasized the importance of the initiative in shaping a financially empowered youth.

“With the YFI Initiative, we are inviting the Filipino youth to innovate and dream big, not just for themselves but for the country,” Romulo-Puyat said.

The YFI Initiative consists of two major programs aimed at enhancing financial awareness and practical solutions:

The YFI Ambassadors Program allows participants to create and implement action plans that promote financial inclusion and improved financial health in their communities.

The YFI Hackathon is a nationwide competition that challenges young innovators to develop community-based solutions to financial inclusion challenges. Winning ideas from the hackathon may be implemented on a larger scale.

Both programs will culminate in the Youth Congress in the second quarter of 2025, where participants will present their projects and innovations.

Government Backs Financial Literacy for Youth

The initiative has received strong support from government agencies such as the National Youth Commission (NYC) and the Presidential Communications Office (PCO).

NYC Chairperson Jeff Ortega highlighted the long-term impact of the program on young Filipinos.

“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,” Ortega said.

Krizia Casey Avejar, Communications and Capacity Development Division Chief at the PCO, stressed the importance of collaboration in promoting financial literacy.

“Let us work together to inspire a generation of financially aware and resilient Filipinos,” Avejar said.

Beyond encouraging account ownership, the YFI Initiative promotes financial education, consumer protection, and regulatory support to strengthen youth financial inclusion.

The program fosters collaboration between financial regulators, service providers, youth groups, students, and educators, ensuring a holistic approach to financial literacy and economic empowerment.

By equipping young Filipinos with financial resilience and smart money management skills, the YFI Initiative aims to enhance financial health and increase youth contributions to national economic growth.

With financial education at the forefront, the program seeks to create a generation of financially savvy and economically independent Filipinos, prepared to navigate future financial challenges and opportunities.