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Financial Literacy Pck6 Report

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0% found this document useful (0 votes)
19 views78 pages

Financial Literacy Pck6 Report

Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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MODULE 8:

FINANCIAL
LITERACY
Presented by: Briskter Lumacang, Pinky Rose
Melgar, & Emalyn Ofalla
LEARNING OUTCOMES
1 2
Distinguish among financial
Define financial literacy
plan, budgeting, saving,
spending and investing

3 4
Present ways on how to Demonstrate
avoid financial crises and understanding of
scams insurance and taxes
5 6
Describe a Determine ways on
how to integrate
financially stable
financial literacy in the
person curriculum

7 8 9
Draw relevant life Analyze research Make a personal
lessons and significant abstract on financial
financial plan based
values from personal literacy and its
implications to the
on short-term and
experiences on financial
crises and scams teaching- learning long-term goals.
process
CONCEPT EXPLORATION
In some instances, teachers are confronted with issues and
concerns on financial debt, being victimized by fraud and other
related scams, both personal and electronic ways. More so, some
teachers are drowned by emergent financial needs and
unexpected debt especially in difficult times, sickness and
inevitable circumstances and calamities. Others do not prepare
for their retirement that they usually end up highly frustrated.
This is the reason why financial literacy has been a subject in
many faculty development programs, seminars, and even
becomes a topic for researches, while many schools have
FINANCIAL LITERACY
Is a core life skill in an increasingly complex world where people need to take charge
of their own finances, budget, financial choices, managing risks, saving, credit, and
financial transactions.

Poor financial decisions can have a long-lasting impact on individuals, their families
and the society caused by lack of financial literacy. Low levels of financial literacy are
associated with lower standards of living, decreased psychological and physical well-being
and greater reliance on government support. However, when put into correct practice,
financial literacy can strengthen savings behavior, eliminate maxed-out credit cards and
enhance timely debt.

Financial literacy is the ability to make informed judgments and make effective
The importance of starting financial literacy while still young.
National surveys show that young adults have the lowest levels of
financial literacy as reflected in their inability to choose the right financial
products and lack of interest in undertaking sound financial planning.
Therefore, financial education should begin as early as possible and be
taught in schools. Akdag (2013) stressed that in the recent financial crisis,
financial literacy is very crucial and tends to be advantageous if
introduced in the very early years as preschool years Financial education
is a long-term process and incorporating it into the curricula from an early
age allows children to acquire the knowledge and skills while building
responsible financial behavior throughout each stage of their education
(OECD, 2005).

Likewise, financial literacy is the capability of a person to handle


FINANCIAL PLAN
Teachers need to have a deeper understanding and
capacity to formulate their own financial plan. It is wise
to consider starting to plan the moment they hand her
their first salary, including the incentives plan bonuses
and remunerations that they receive.

Kagan (2019) defines a financial plan as a


comprehensive statement of an individual’s long-term
objectives for security and we being and detailed savings
and investing strategy for ach and well objectives. It
begins with a thorough evaluation of the individual’s
THE FOLLOWING ARE
STEPS IN CREATING A
FINANCIAL PLAN.
1. Calculating net worth. Net worth is the amount by
which assets exceed liabilities. In so doing, consider
(1) assets that entail one’s cash, property,
investments, savings, jewelry and wealth; and (2)
liabilities that include credit card debt, loans and
mortgage. Formula: total assets minus total liabilities
= current net worth.
2. Determining cash flow. A financial plan is knowing
where money goes every month. Documenting it will
help to see how much is needed every month for
3. Considering the priorities. The core of a financial
plan is the person’s clearly defined goals that may
include: (1) Retirement strategy for accumulating
retirement income; (2) Comprehensive risk management
plan including a review of life and disability insurance,
personal liability coverage, property and casualty
coverage, and catastrophic coverage; (3) Long-term
investment plan based on specific investment objectives
and a personal risk tolerance profile; and (4) Tax
reduction strategy for minimizing taxes on personal
FIVE FINANCIAL
IMPROVEMENT
STRATEGIES
FINANCIAL LITERACY SHAPES
THE WAY PEOPLE VIEW AND
HANDLE MONEY. THE
FOLLOWING ARE FINANCIAL
IMPROVEMENTS SUGGESTED BY
INVESTOPEDIA AS A JOURNEY
TO FINANCIAL LITERACY.
1.Identify your starting point. Calculating the net
worth is the best way to determine both current
financial status and progress over time to avoid
financial trouble by spending too much on wants and
nothing enough for the needs.

2.Set your priorities. Making a list of rated needs


and wants can help set financial priorities. Needs are
things one must have in order to survive (i.e. food,
shelter, clothing, healthcare and transportation);
while wants are things one would like to have but are
3.Document your spending. One of the best
ways to figure out cash flow or what comes in
and what goes out is to create a budget or a
personal spending plan. A budget lists down all
income and expenses to help meet financial
obligations.

4.Lay down your debt. Living with debt is


costly not just because of interest and fees, but it
can also prevent people from getting ahead with
5.Secure your financial future. Retirement is
an uncontrollable stage in a worker’s life, of
which counterpart are losing the job, suffering
from an illness or injury, or be forced to care for
a loved one that may lead to an unplanned
retirement. Therefore, knowing more about
retirement options is an essential part of securing
financial future.
FINANCIAL GOAL PLANNING
AND SETTING
Setting goals is a very important part of life, especially
in financial planning. Before investing the money,
consider setting personal financial goals. Financial
goals are targets, usually driven by specific future
financial needs, such as saving for a comfortable
retirement, sending children to college, or enabling a
home purchase.
THERE ARE THREE KEY AREAS IN SETTING INVESTMENT
GOALS FOR CONSIDERATION.
A. Time horizon. It indicates the time when the money will be needed. To note,
the longer the time horizon, the more risky (and potentially more lucrative)
investments can be made.

B. Risk tolerance. Investors may let go of the possibility of a large gain if they
knew there was also a possibility of a large loss (they are called risk averse);
while others are more willing to take the chance of a large loss if there were also
a possibility of a large gain (they are called risk seekers). The time horizon can
affect risk tolerance.

C. Liquidity needs. Liquidity refers to how quickly an investment can be


D. Investment goals: Growth, income and stability. Once determined the
financial goals and how time horizon, risk tolerance, and liquidity needs
affect them, it is time to think about how investments may help achieve
those goals. When considering any investment, think about what it offers in
terms of three key investment goals: (1) Growth (also known as capital
appreciation) is an increase in the value of an investment; (2) Income, of
which some investments make periodic payments of interest or Investment
income and can be spent or reinvested; and (3) dividends that represent
Stability, or known as capital preservation or protection of principal.

An investment that focuses on stability concentrates less on increasing the


value of investment and more on trying to ensure that it never loses value
and can be taken when needed (
https://www.flexscore.com/learningcenter/seting-financierany investment-
BUDGET AND
BUDGETING
BUDGET AND BUDGETING
A budget is an estimation of revenue and expenses over a
specified future period of time and is usually compiled and
re evaluated on a periodic basis. Budgets can be made for a
variety of or business needs or just about anything else that
makes and spends money. Budgeting, on the other hand, is
the process of creating a plan to spend money. Creating this
spending plan allows one to determine in advance whether
he/she will have enough money to do the things he/she
needs or likes to do.

Thus, budgeting ensures to have enough money for the


SEVEN STEPS TO
GOOD
BUDGETING
THE FOLLOWING ARE SEVEN STEPS
THAT MAY HELP IN ATTAINING GOOD
BUDGETING.
Step 1: Set realistic goals.
Goals for the money will help make smart spending
choices upon deciding on what is important.

Step 2: Identify income and expenses.


Upon knowing how much is earned each month and where
it all goes, start tracking the expenses by recording every
single cent.
Step 3: Separate needs from wants.
Set clear priorities and the decisions become easier to make by
identifying wisely those that are really needed or just wanted.

Step 4: Design your budget.


Make sure to avoid spending more than what is earned. Balance
budget to accommodate everything needed to be paid for.

Step 5: Put your plan into action.


Match spending with income time. Decide ahead of time what
you will use each payday. Non-reliance to credit for the living
expenses will protect one from debt.
Step 6: Plan for seasonal expenses.
Set money aside to pay for unplanned expenses
so to avoid going into debt.

Step 7: Look ahead.


Having a stable budget can take a month or
two so, ask for help if things are not getting
well.
SPENDING
If budget goals serve as a
financial wish list, a
spending plan is a way to
make those wishes a
reality. Turn them into an
action plan. The following
are practical strategies in
setting and prioritizing
budget goals and spending
1.Start by listing your goals.
Setting budget goals requires forecasting and discussing future
needs and dreams with the family.

2. Divide your goals according to how long it will take to


meet each goal.
Classify your budget goals into three categories: short-term
goals (less than a year), medium-term goals (one to five years),
and long-term goals (more than five years). Short-term goals
are usually the immediate needs and wants; medium- term goals
are things that you and your family want to achieve during the
next five years; and long-term goals extend well into the future,
3. Estimate the cost of each goal and find out how much it costs.
Before assigning priority to goals, it is important to determine the cost of
each goal. The greater the cost of a goal, the more alternative goals must
be sacrificed in order to achieve it.”

4. Project future cost.


For short-term goals, inflation is not a big factor, but for medium and
long-term goals, it is a big factor. To calculate the future cost of the
goals, there is a need to determine the rate of inflation applied to each
particular goal.

5. Calculate how much you need to set aside each period.


6. Prioritize your goals.
Upon listing down all the goals and the estimated amount
needed for each goal, prioritize them. This serves as guide in
decision-making.

7. Create a schedule for meeting your goals.


It is important to lay down all the goals according to priority
with the corresponding amount of money needed, the time it
will be needed, and the installments needed to meet the
goals. (
https://www.flexscore.com/learningcenter/the-spending-plan
-setting-and-
INVESTMENT
AND INVESTING
As teachers, when you have saved more money than what you expect
at a time of need, consider investing this money to earn more interest
than what your savings account is paying you. There are many ways
you can invest your money but consider four aspects:

1.How long will you invest the money? (Time Horizon)

2.How much money do you expect your investment to earn each year?
(Expectation of Return)

3.How much of your investment are you willing to lose in the short-term in
order to earn more in the long-term? (Risk Tolerance)
SAVINGS
In order to get out of debt, it is important
to set some money aside and put it into a
savings account on a regular basis.
Savings will also help in buying things
that are needed or wanted without
borrowing.

Emergency Savings Fund. Start as early,


setting aside a little money for emergency
savings fund. If you receive a bonus from
work an income tax refund or earnings
10 REASONS
WHY SAVE
MONEY
With credit so easy to get, here are ten practical reasons
why it is important to save money that everyone,
including teachers, must know.

1.To become financially independent.


Financial independence is not having to depend on receiving a
certain pay but setting aside an amount to have savings that can
be relied on.

2. To save on everything you buy.


With savings, you can buy things when they are on sale and can
3. To buy a home or a car.
Savings can be used in buying a home in full or down
payment, especially in times of promo deals, bids and
inevitable sale and at a reasonable interest rate.

4. To prepare for the future.


Through savings, you can be confident to face the future
without worrying on how you will survive.

5. To get out of debt.


6. To augment annual expenses.
In order to attain a good, stress-free financial life, there is a
need to save for annual expenses in advance.

7. To settle unforeseen expenses.


Savings can respond to unforeseen expenses in times of
need.

8. To respond to emergencies.
Emergencies may happen anytime and these can be
expensive so, there is a need to get prepared rather than
9. To mitigate losing your job or getting hurt.
Bad things can happen to anyone, such as losing a job,
business bankruptcy or crisis, being injured or
becoming too sick to work. Therefore, having savings
is the key to resolve such a dilemma.

10. To have a good life.


Putting aside some money to spell when needed can
bring about quality and worry-free life at all times.
COMMON
FINANCIAL SCAMS
TO AVOID
Financial fraud can happen to
anyone, including the teachers
at any time. While some forms
of financial fraud, such as
massive data breaches, are out
of one’s control, there are many
ways to proactively get rid of
financial scams and identity
Here are some of the most common financial scams,
along with ways to identify them early and how to
protect one’s self from being victimized.

A. Phishing.
Using this common tactic, scammers send an email that appears
to come from a financial institution, such as a bank and asks you
to click on a link to update your account information. If you
receive any correspondence that asks for your information, never
click on the links or provide account details. Instead, visit the
company’s website, find official contact information, and call
B. Social Media Scams.
Scammers are adept at using social media to gather
information about the traveling habits of potential
victims. They also have phishing tactics, including
posts seeking charity donations with bogus links that
allow them to keep your money. Therefore, be
conscious of the information you post online,
especially personal details and plans for a vacation that
you would leave your house unoccupied.
C. Phone Scams.
Another prevalent tactic is scamming phone calls. The
scammers pose as a government agency, such as the
Bureau of Internal Revenue or local law enforcement
agencies, and use scare tactics to acquire your personal
information and account numbers. Never provide your
account information over the phone. Look for the
agency’s contact information, and call them to verify
any request. To note. Government agencies will never
D. Stolen Credit Card Numbers.
There are numerous ways that Scammers can obtain
your credit card information, including Hacking,
phishing, and the use of skimming devices, such as
small card readers attached to unmanned credit card
readers (ie. ATMs, gas pumps, and more). These small
devices pull data from your card when you swipe it.
Before you use an ATM or swipe your card, look for
suspicious devices that may be attached to the card
E. Identity Theft.
Depending on the amount of information a scammer is able
to obtain, identity theft may extend beyond unauthorized
charges on a debit or credit card. If scammers are able to
obtain your Social Security number, date of birth acd other
personal information, they may be able to open new
accounts in your name without your knowledge. Be aware of
an information you share and with whom, and always shred
Sensitive information before disposing it.

By taking preventative measures and being aware of scams


you can minimize the risks of fraud. Monitoring your online
10 TIPS TO AVOID
COMMON FINANCIAL
SCAMS
Every year, fraud cases are getting worse, leaving countless
victims in trouble and danger through data breaches, identity
then and online scams. Unfortunately, new and improved
technology only gives fraudsters an edge, making it easier than
ever for scam artists to nab financial data from unsuspecting
consumers (Bell, 2019).

1.Never wire money to a stranger.


Although it is one of the oldest Internet scams, there are still
consumers who fall for this rip-off or some variations of it.

2.Don’t give out financial information.


3. Never click on hyperlinks in emails.
If you receive an email from a stranger or company asking you to click
on a hyperlink or open an attachment and then, enter your financial
information, delete the email immediately.

4. Use difficult passwords.


Hackers can easily find passwords that are simple number
combinations. Create passwords that are at least eight characters long
and that include some lower and upper case letters, numbers and special
characters. You should also use a different password for every website
you visit.

5. Never give your social security number.


6. Install Antivirus and Spyware protection.
Protect the sensitive information stored on your computer by installing antivirus,
firewall and spyware protection. Once you install the program, turn on the auto-
updating feature to make sure the software is always up-to-date.

7. Don’t shop with unfamiliar online retailers.


When it comes to online shopping, only do business with familiar companies.
When purchasing a product from an unfamiliar retailer, do some research to
ensure the business is legit and reputable.

8. Don’t download software from pop-up windows.


When you are online, do not trust pop-up windows that appear and claim your
computer is unsafe. If you click the link in the pop-up to start the ”system scan”
or some other programs, malicious software known as “malware” could damage
your operating system.
9. Make sure the websites you visit are safe.
Before you enter your financial information on any website,
double-check the website’s privacy rules. Also, make sure
the website uses encryption, which is usually symbolized by
a lock to the left of the web address which means it Is safe
and protected against hackers.

10. Donate to known charities only.


If you receive a call or an email for solicitation of
charity donations, critically examine it. Some
scammers create bogus charities to steal credit card
FINANCIAL SCAMS
AMONG STUDENTS
Students can also be
susceptible to different
financial scams and fraud.
Learning how to manage
finances and being aware
of financial scams are skills
that every student should
The following are common financial scams that students should
watch out for, and learn to protect one’s identity and finances.

A. Fake scholarships.
While it is beneficial for students to apply for as many scholarships, it
is important to become aware of related scams and frauds. Students
should thoroughly check scholarship sources before applying to verify
legitimacy. Never apply for a scholarship that asks for money in
return.

B. Diploma mills.
There are schools that offer fake degrees and diplomas in exchange
for a fee. Check from government education agencies the prospective
C. Online book scams.
While students often go for the best deals on textbooks online,
scammers can use this opportunity to get students’ credit card
information. When buying anything online, be sure to do it on a
credible site.

D. Credit card scams.


Oftentimes, credit card companies go to school campuses to
convince students to fill out card applications. Scammers may also
grab this chance to steal students’ information. It is important to
visit a local credit union or bank for credit card application. Also,
regularly check the credit card statement and once there are any
unrecognized charges, contact your banking institution
INSURANCE
AND
TAXES
Insurance is a contract (in the form of a policy) between
the policyholder and the insurance company, whereby the
company agrees to compensate for any financial loss from
specific insured events. In exchange for the financial
protection offered policyholder agrees to pay a certain sum
of money, known as premiums to the insurance company
Insurance is the best form of risk management against
uncertain loss,

There are various types of insurance to choose from,


such as life Insurance, health insurance, motor insurance,
property insurance, business insurance, etc. Besides, the
The following are concepts related to insurance and taxes that every
teacher should know. However, he/she should carefully analyze and
critically examine well before pursuing any deal with them.

1.Employer-Sponsored Insurance.
If working in a company with 50 or more full-time employees, the employer
is required to provide employee-only insurance that meets minimum
guidelines. Examine the plan offered, but do not pay over 9.66 percent of
household income in premiums.

2. Marketplace Plans.
Marketplace plans are available based on an area of residence and income
upon meeting minimum coverage requirements. Marketplace plans come in
three tiers: bronze, silver and gold. Generally, bronze plans offer the least
LIFE INSURANCE
Life insurance is a type of insurance that compensates
beneficiaries upon the death of the policyholder. The
company will guarantee a payout for the beneficiaries in
exchange of premiums. This compensation is called “death
benefit.”

Depending on the type of insurance one may have, these


events can be anything from retirement, to major injuries,
The following are common risk categories:
1. Preferred Plus- The policyholder is in excellent health,
with normal weight, no history of smoking, chronic illnesses,
or family history of any life-threatening disease.

2.Preferred – The policyholder is in excellent health but may


have minor issues on cholesterol or blood pressure but under
control.

3. Standard Plus – The policyholder is in very good health


but some factors, like high blood pressure or being
4. Standard- Most policyholders belong to this category, as they are
deemed to be healthy and have a normal life expectancy although,
they may have a family history of life-threatening diseases or few
minor health issues.

5. Substandard- Those with serious health issues, like diabetes or


heart disease are placed on a table rating system, ranked from highest
to lowest. On average, the premiums will be similar to Standard with
an additional 25% lower claim on table ratings.

6. Smokers – Due to an added risk of smoking, the policyholders in


this category are guaranteed to pay more. Aside from health class,
age is also a critical factor in determining premiums. Therefore,
BENEFITS OF
LIFE
INSURANCE
The following are the benefits of life insurance:

1.It pays for medical and funeral costs.


Life insurance helps solve the incurred expenses for
medical and funeral services to lessen the grief among
family and relatives for being unprepared.

2.For financial support.


Life insurance can become a source of temporary
income during the difficult period of adjusting and
3. For funding various financial goals.
Life insurance offers additional benefits through the form of
fund accumulation for specific future financial goals.

4. Acts as a retirement secured conform.


Modern life insurance also serves as a tool that principal
holders can use to get in a better financial position in the
future.

5. It covers costs incurred from taxes and debt.


Life insurance can serve as protection since the premium can
be used to pay for unsettled debts and taxes.
TYPES OF LIFE
INSURANCE
The table below shows a comparative analysis of different types of life insurance
along characteristics, advantages and disadvantages that may serve as a reference.
TYPE CHARACTERISTIC ADVANTAGE DISADVANTAGE

It grants a lump sum after a It allows for saving up for It requires higher
specified amount of time or specific purposes. premiums than other
upon death. The policy types of life insurance.
owner is required to pay the It guarantees returns upon
1.ENDOWMENT
premium for a maturity.
predetermined number of It is not the best option
years or until a specific age It offers some form of for those looking at full
is reached. insurance coverage. life protection.

It entails low premium


It is the simplest form requirements. It has no benefit if
of life insurance to policyholder outlives
It is a strong option for the term period set.
obtain, of which upon
2. TERM policyholders who need
death, the insurance but cannot afford Premium usually gets
beneficiaries are paid whole life or endowment. higher upon renewal of
with the benefit. terms.
It is easy to understand.
TYPE CHARACTERISTIC ADVANTAGE DISADVANTAGE

It provides coverage for the It offers permanent protection


policyholder’s entire life or until for full life or 100 years. It requires higher
3. WHOLE they reach 100 years old. It acts premiums.
both as protection and savings It entails fixed premiums.
LIFE mechanisms since a portion of the It is difficult to understand
premium is allocated to build up It usually comes with additional due to complexity.
cash values.
features and “living” benefits.

It takes dual purpose; Life insurance


It serves as both life protection plus investment tool.
Cash values and dividends
and investment vehicle in one
It has no maturity age. are not guaranteed.
package. A portion of the
4. VARIABLE premium is allocated into The cash value is payable along with Face amount and death
various investment vehicles the assured sum.
UNIVERSAL for the purposes of wealth
benefit are dependent on
LIFE (VUL) The death component is not limited investment performance.
creation. The contract’s
to face value.
earnings are based on the
It includes various
performance of selected It depicts liquidity, wherein funds investment fees.
investments. can be accessed in times of need and
can serve as emergency funds.
FINANCIAL
STABILITY
Like anyone else, teachers also aim to become
financially stable if not today, maybe in the future.
Being financially stable means confidence with the
financial situation, worriless paying the bills because
of available funds, debt-free, money savings for
future goals and enough emergency funds.

Financial stability is not about being rich but


rather more of a mindset. It is living a life without
worrying about how to pay the next bill, and
becoming stress-free about money while focusing
10 STRATEGIES
IN REACHING FINANCIAL
STABILITY
Just like any goal, getting the finances stable and becoming
financially successful requires the development of good financial
habits. Babauta (2007) suggests 10 habits toward financial
stability and success.

1.Make savings automagical.


Savings should be made a top priority, especially as an emergency
fund and a bill payment from the amount are automatically
transferred from the checking account, like an online savings
account.

2.Control your impulsive spending.


Control your self from impulsive spending on eating out, shopping
3. Evaluate your expenses and live frugally.
Analyze how you spend your money, see what you can reduce
and determine expenses that are necessary and eliminate the
unnecessary.

4. Invest in your future.


Start preparing and investing for your future retirement while still
young in your career field.

5. Keep your family secure.


Save for an emergency fund, so that you have something to spend
6. Eliminate and avoid debt.
Eliminate credit cards, personal loans, or other debt forms as it will not
work on you but even pull you down and make you drowned with
obligations that may even resort to surrendering your properties, jewelry
and investments as payment.

7. Use the envelope system.


Set aside three amounts in your budget each payday, withdraw those
amounts and put them in three separate envelopes. In that way, you can
easily track how much remains for each of the expenses or if you already
run out of money.

8. Pay bills immediately.


9. Read about personal finances.
The more you educate yourself, the better your
finances will be.

10. Look to grow your net worth.


Do whatever you can to improve your net worth,
either by reducing your debt, increasing your
savings, or increasing your income, or all of the
above.
SIGNS OF BEING
FINANCIALLY
STABLE
Teachers, like any one else, often
work to the extent to earn more
even through additional jobs on the
side just for their desire for
financial stability.

Rose (2019) presents some signs of


a financially stable person.
1.You never overdraw your checking account.
2.You don’t lose sleep over finances.
3.You use credit cards for convenience and rewards but
never out of necessity.
4.You don’t worry about losing your job.
5.You pay your bills ahead of time.
6.People ask your opinion about financial matters and you
inspire them.
7.You’re generally happy with your financial situation.
8.You finance your cars over five years or less if you take
loans
9.You contribute more to your retirement.
11. You can afford to buy the things you really want.
12. Recreational spending doesn’t appeal to you.
13. You’re a natural saver.
14. You’re generous with money when it comes to
charities or helping others.
15. You’re confident about your future.
16. Your net worth grows significantly from year to year.
17. You have substantial equity in your home.
18. You consistently live beneath your means.
19. You could survive for months without a paycheck.
20. You feel in control of your finances and never
INTEGRATING
FINANCIAL LITERACY
INTO THE
CURRICULUM
Financial education in schools should be part of a
collaborative national strategy to ensure relevance
and long-term sustainability. The education system
and profession should be involved in the
development of the strategy.

In support, Barry (2013) underscored that


financial literacy has a wide repercussion outside the
family circle and more precisely, the school. Hence,
administrators and professors need to develop a
curriculum that would provide students insights on
Moreover, there should be a learning framework, which
sets out goals, learning outcomes, content, pedagogical
approaches, resources and evaluation plans. The content
should cover knowledge, skills, attitudes and values. A
sustainable source of funding should be identified at the
outset.

Financial education should ideally be a core part of the


school curriculum. It can be integrated into other subjects
like mathematics, economics, social studies, technology
and home economics, values education and others.
Teachers should be adequately trained and
resourced, made aware of the importance of s
financial literacy and relevant pedagogical
methods and they should receive continuous
support to teach it or integrate in their lesson.
More so, there should be easily accessible,
objective, high-quality and effective learning
tools and pedagogical resources available to
schools and teachers that are appropriate to the
level of study. Students’ Progress should also be
THANK
YOU!

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