Well, some folks lose weight that way--but it's not because they skip rice and choose bread. It's because they eat less, which I won't recommend. We need to eat enough to get the nutrition our bodies need. Like it or not, we Filipinos need rice. We can't just get rid of it from our meals.
The secret is reduced amounts. Reduce the amount of rice you eat per meal and look for a healthy substitute like sweet potato.
Bread won't help you lose weight. In fact, bread sometimes can make you gain more weight. Sometimes you tend to eat more of it to satisfy your hunger. Because bread is lighter than rice, you easily feel hungry again and eat more. And bread made of white flour and white sugar definitely adds more weight on you.
I'd prefer eating limited rice, like a cup each meal. It will more likely satisfy your hunger and make you feeling full longer. It gives you enough energy to last until the next meal. Bread will keep you eating now and then except if you fill it with large slices of ham, eggs, burger meat and the like. Americans manage to survive with bread because of the meat-heavy viands that go with it.
If you asked me, I'd say eat a little of both bread and rice in right or healthy amounts--especially if you want to keep things cheap. Bread or rice can easily fill up your tummy, and that's more economical for middle income folks. As I've said before, eat everything in balanced amounts. Don't skip anything, even fat. But again, keep everything balanced.
And put everything in their proper perspectives--a little bread and a half cup of rice probably in the morning, rice at lunch time, a little bread during snacks, and a few spoonfuls of rice at supper.