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Financial Literacy

The document outlines the learning outcomes for financial literacy, emphasizing the importance of understanding personal finance, budgeting, and effective management of financial accounts. It highlights the benefits of financial literacy, such as better decision-making and reduced financial stress, and includes activities for preparing a personal budget and financial planning. The conclusion reinforces that higher financial literacy leads to better financial habits and practical applications in daily life.

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olwese austine
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4 views15 pages

Financial Literacy

The document outlines the learning outcomes for financial literacy, emphasizing the importance of understanding personal finance, budgeting, and effective management of financial accounts. It highlights the benefits of financial literacy, such as better decision-making and reduced financial stress, and includes activities for preparing a personal budget and financial planning. The conclusion reinforces that higher financial literacy leads to better financial habits and practical applications in daily life.

Uploaded by

olwese austine
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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FINANCIAL LITERACY

LEARNING OUTCOMES

The learner will be able to;


• Analyze the benefits of financial literacy based on
personal financial needs
• Identify Components of financial literacy
• Demonstrate ability to use and manage personal
financial accounts effectively
• Analyze the Costs and Benefits of Saving and Investing
ACTIVITY 1: PRE-ASSESSMENT

• What do you understand by the term


financial literacy?
• What are the benefits of financial
literacy?
(to use word cloud)
The possession of knowledge and
understanding of financial
matters. It often entails the
knowledge of proper decision-
making pertaining to certain
personal finance areas like,
financial planning, loans and
credit management, savings,
investment, etc.
BENEFITS OF FINANCIAL LITERACY

• Better financial decision making


• Better economic outcome
• Reduced financial stress
• Increased financial independence
COMPONENTS OF FINANCIAL
LITERACY
• Budgeting
• Saving and investing
• Managing Debt
• Financial planning
• Understanding financial concepts
ACTIVITY 2: PREPARATION OF A PERSONAL
BUDGET
Use the following guidelines:
• Determine the budget period
• Estimate your anticipated income for the
period
• Identify and estimate your expenditure for
the period
• Compare your estimated income and
ACTIVITY 3: EFFECTIVE USE AND
MANAGEMENT OF PERSONAL FINANCES

Learners discuss how personal finances


can be effectively used and managed.
(use of break-out rooms)
EFFECTIVE USE AND MANAGEMENT OF PERSONAL
FINANCES

• Basic banking services


• Managing accounts
• Credit management
• Saving and investing
COSTS AND BENEFITS OF SAVING AND
INVESTING
• Risk and return
• Types of investments
• Investment cost
• Diversification
• Time horizon
• Tax implications
ACTIVITY 4: FINANCIAL PLANNING

Prepare a one-year
personal financial
plan.
(upload your plan
in your e-portfolio)
CONCLUSION

• Financial literacy will help you to understand and


make use of a variety of financial skills.
• Those with higher levels of financial literacy are
more likely to spend less income, create an
emergency fund, and open a retirement account
• Practical applications in everyday life include
banking, budgeting, handling debt and credit, and
investing.

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