Republic of the Philippines

Laguna State Polytechnic University

Main Campus
Santa Cruz, Laguna

Esther I. Lorida May 15,

2021
BEED - 3A Maam, Evelyn Luna
Balaoro
Reaction Paper: How to Spend Your Money Wisely; How to Afford What You
Want!

We like buying things, at least we think we do. It's bred into us. Life in the 21st
century is a fast paced, consumer oriented experience where media surrounds us at all
times enforcing the idea that happiness is a matter of buying the perfect house, driving
the best car, wearing the trendiest clothes and posting status updates on the latest high
tech devices.

The video outlined how an individual should ensure that they are spending their
money wisely. It is said that preparation is the most important aspect of doing it before
actually spending. We must consider those valuables on which money should be spent.
This may include acts for family, such as adding money to their needs, spending quality
time with them, money for travel, money for savings, money for unforeseen events such
as health issues and even accidents, and so on. There are so many different places that
every dollar can go, which is why we should prepare every move before spending
money.

Talking about money is one of those topics that people find difficult to bring up
with others, particularly if they know they aren't good at managing it. Money must be
spent wisely; it is not something that can be obtained on a daily basis. At the very least,
we'll have to put in some effort if we want this. Spending it would be a difficult decision
for those who work very hard only to be paid for their efforts. But for me nine times out
of 10 you’re better spending your money on experiences and other people than on
yourself. You’re much more likely to have genuine, fulfilling happiness as a result. So
remember: You want be happy? Stop buying things and start buying experiences.
Reaction Paper: Increasing Social Literacy in Future Innovators

Social literacy means the presence of social skills, knowledge and positive
human values that support ability in human beings to act positively and responsibly in
range of complex social settings and their ability to successfully and deliberately
mediate his/her world as family member, worker, citizen and lifelong learner.

In the video Dr. Kevin S. Jones gives a TED Talk about the value of social
literacy in potential innovators in the area where he has a degree. He went on to explain
how the products that people are working with now contribute to the age in which they
live. He said that people began in the stone age, progressed through the bronze age,
the iron age, and are now in the silicon age, which is also how we communicate with
society. These materials can serve as evidence of how people continue to evolve and
progress as time passes. The materials demonstrate how people change as a result of
their social interactions. The talk also demonstrates the distinction between science and
engineering, demonstrating that science focuses on the fundamentals of the universe
while engineering focuses on its implementation in society. These two movements
should collaborate for the people's good.

As for the advocacy of this talk, Dr. Jones if we were to create successful
solutions to the grand challenges we face it would be great if we could teach students
with diverse areas of interest to work together in teams on these solutions he shown
that by using the fascinating world of materials we can help non-engineers and
engineers learn to work together and we are hopefully giving them the tools they need
to create socially acceptable engineering solutions and finally on a personal.
Reaction Paper: 6 Reasons why Financial Literacy is Important

A lack of financial literacy affects people in developed or advanced economies,

as well as those who live in emerging or developing countries. Consumers in advanced
economies also fail to demonstrate a strong grasp of financial principles that can help
them understand and negotiate the financial landscape, manage financial risks
effectively, and avoid financial pitfalls. Financial literacy is essential; it is the education
and understanding of various financial topics, such as personal finances, saving, and
borrowing money. This may be everyone's option for managing and growing their
capital. As the video demonstrated, this is critical if we are to achieve financial
independence.

There are six reasons why financial literacy is important; number one financial
literacy helps you understand your money financial education helps you better
understand how money works and what your money can do for you. Number two
financial education helps end the debt cycle if you feel overwhelmed by debt or are
struggling to make payments on your loans and bills learning how to manage your
finances well it is the first step to gaining control putting that advice to use and working
to eliminate your debt is the second step. Number three inequality Among world richest
10 of the world owns 85 percent of the world's household wealth and the bottom half the
population owns barely 1 this problem is created not because of the money inequality
but by the inequality of financial literacy between the rich and the poor. Number four
financial education helps you plan for the future to plan for your future you need to
understand what different savings options are and how they may impact your goals.
Number five increasing life expectancy india is estimated to have gone up from 31 years
in 1947 to 64 years in 2005. and by the time of millennials reaching their retirement age
the life expectancy would be 80 years so they have nearly 20 years to survive without
any work post-retirement would be peaceful if they know how to manage money.
Number six financial education helps you gain control consumers are also being asked
to choose among various investment and savings products. These products are more
sophisticated than in the past requiring consumers to choose among different options
that offer varying interest rates and maturities decisions they are not adequately
educated to make deciding on complex financial instruments with a large range of
options can impact a consumer's ability to buy a home finance and education or save
for retirement adding to the decision-making pressure.

It is very important to be a financial literate if you have the ability to use your
money not only for spending but saving and also for earning. You can rest assured that
you will never run out of money any time and any where and in any situation.