Financial Literacy Pck6 Report
Financial Literacy Pck6 Report
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).
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.
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.
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.
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.
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.
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.”
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.