Sawey, Easter Hope T.

February 20, 2020

9- Simplicity Araling Panlipunan

“My Parents on Financial Literacy”

I. The Reaction

a. Financial Literacy in the Philippines Remains Low

“I’m sad to know that financial literacy is very low. Personally, maybe because of family

background of raised from a poor family, we were taught even when we’re young to save

money. Example by selling goods while we’re at school and after class we sell the products of

my mother, from the sales we were given money and we learned to save it through a piggy

bank. Going to college, I was challenged because my father died and so the more I work while

going to school and save a little was instilled in my mind until I had a family and so I saved a lot

for the education of my children. After which I invested for a permanent house. I also teach my

children and grandchildren save through bank and cooperative”, said by my grandmother and

her reaction. She even agreed on what she had read because she had known many people in

the community that when they are in financial needs, they have no savings to spend but rather

they go to borrow money. She only disagrees that Filipinos don’t have money to invest but

rather they do not know how and where to invest because they have heard in the new that there

are so many investment scams which means they have much money but they invest in the

wrong investment.

b. Angara: Financial Literacy Supports Economic Growth, Poverty Alleviation

The reaction of my grandmother is happy and she congratulates the lawmakers who are

pushing for financial literacy in all the economic sectors, so that hard-earned money of Filipinos

will be invested properly. She agrees that financial literacy should be taught at an early age from
primary up to college. Not only in school but more so for those who are already earning. She

agrees on all the points that she had read on the article.

c. Reflection 1

She agrees on what I have said that it’s not only respecting on elders should be taught

to us children and students. Saving and handling money should be taught to us students too so

that we should be practiced while we are young.

II. The Score

She rates herself 8 when it comes to wise money management because even since she

was a child, she learned to save the money through piggy bank. Then when she works already,

she invested by buying a lot, insurance and she even saves in cooperatives with mutual funds.

When it comes to knowledge and habit about saving and investing, she rates herself 8 because

at her age and being a retired government employee, aside having her children finished their

degrees. She could say that her investment and saving is enough to take care of the needs of

herself and even her family.

III. The Opinion

Her opinion about the Financial Literacy being included in the curriculum of the students

was highly recommended. She said that student having a project that is related in savings and

financial management is good so that at an early age we know how to save money wisely.

IV. Reaction on my parent’s reaction

My reaction was priceless because of what my grandmother had said about all the

readings or articles. I was inspired to save and manage my money wisely because of her. All of

her learnings since she was young will be the key so that I will learn all about managing money.