PAMANTASAN NG LUNGSOD NG MARIKINA

Rainbow St., SSS Village, Marikina City

Name : AMIEL E. RIVERA Class Code : MED205

Student Number: GS-18-00276-B Course Title: Financial Resource Management
Program : MAEd Instructor : Dr. Niela Prieto
Major: Educational Management
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FINANCIAL LITERACY
There is no denying that the cost of living is increasing, and many factors are
outside our control. We also know people are finding it more difficult to make
ends meet. Financial literacy is an understanding how money works—how it is
earned, managed and spent.
We are not expected to know the basic and essential of financial management.
But managing our own money in a way that it does not affect us and our family in
a negative way is important. We certainly do not want to end up having a day with
no money at hand and hunger in our stomach.

We should know how to:

Earn
Before you start doing anything with your money, you need to know how much
money you have.
Spend
Once you know how much money you have coming in, you need to keep track
of your outgoings.
Save
Everyone knows it’s important to save money. Having a clear picture using a
budget can help set specific financial goals to work.
Borrow
Most of us will, at some point, need to borrow money no matter how good we
are at saving. It is important that when you are borrowing, you understand
things like the interest rate and what happens if you can’t afford to make the
repayments.
Protect
Once you’ve set yourself up with a budget and savings plan, it’s important to
protect the money you’ve made.

Financial literacy is a good skill because it gives us the ability and knowledge,
we need to manage our money efficiently. It improves our financial well-being
as well as our overall well-being. Providing us with knowledge and skills to feel
in control of our finances and feel financially secure both now and in the
future.