English Learning Guide

Competency 2
Unit 6: Financial Education

Servicios Financieros- CSF

Workshop 3
Centro de

Name: Carlos Andres Moreno Yacob Cohort: Date:

Training program: Instructor:

BASIC FINANCIAL PLANNING ACCORDING TO CONTEXT (INDIVIDUAL/CONTEXT) FINANCIAL PLANNING

HABITS

This workshop attempts to help you improve your financial plans according to the context. You will learn
basic vocabulary taking into account the expenses, costs, investments you need in your daily life or in the
Company where you are working. You will learn about financial terms, financial plans and habits

Objective: From the development of these activities, you will be able to plan the finances according to the
context and follow some instructions.
1. Work in pairs and answer the following questions:
- What is your financial plan?
My financial plan is to buy a pc at the end of this year.
- What age do you hope to retire?
I calculate to retire at 55 years old
- Do you know how much you save or spend each year?
I spend approximately one million and save between two milllion
- Do you have the proper amount in an emergency fund?
Yes, about $200
- If you only had 5 years to live, what would you change in your life?
I would change my way of being when it comes to relatin to my family.
- If I found out I was going to die tomorrow, what would I regret not doing?
Of not being able to fit in trust enough with my mother
- What are the ten most important things you want to accomplish?
I would like to achieve:
-Study what I like
-Buy a house for my mother
-Leave the country

Share your answers. Ask and answer questions about your partner’s information.
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2. Use this format to create a SMART goal. Identify a goal that is short, mid, and long-term when
completing.
English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

Today's Date: Wednesday, September 13th, 2023.

Date Achieved

Verify that your goal is

YOUR ANSWER YOUR GOAL
SMART
My goal is to leave the country to study leave the country and tour many
Specific: What is your goal? and visit many places, because I would games
(What? Why? And How?) not like to be stagnant here, maybe with
the savings I get from working.

I will measure progress every 6 months

Measurable: How will you to check how much has been saved.
measure your progress?
(How many? How much?)

It is totally realistic, I will just have to

Achievable: Is achieving this
make an effort. The steps I need to take
goal realistic with effort and
are to save, study and work.
commitment? What steps are
involved?

Realistic: What skills and What is necessary to achieve this is to

knowledge are necessary to look for ways to not spend so much on
reach the goal? Is it do- unnecessary things, save to achieve the
able? objective and look for a good job.

I hope to achieve this goal in

Timely: When will you
approximately 5 years
achieve this goal?

This goal is important :

because: Because then you
wouldn't have to spend
money unnecessarily on rent
to have a roof over my head.

3. Skills practice: Do the following activities to practice the learnt vocabulary and English
structures.

3.1 SPEAKING PRACTICE

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English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

Now, practice your oral skill and think about the next ten years:
“you are the head of your company, plan and explain to your partners the mid-terms goals, the investments
and costs”.
- How could you do it? You can use the previous questions to do it.
I was able to achieve this thanks to different studies within the company, with which I
was able to decipher the weakest points of the company to strengthen them. I also
carried out surveys abroad to find out people's tastes regarding our products and
increase production of those that are best sellers.
- Share your information with the class and answer your classmates’ questions.

3.2 LISTENING PRACTICE

Watch the video; make notes about the 6 steps about the financial planning process:
https://youtu.be/RBdLCW44ve8
Create a chart, where you can identify the 6 steps on your personal financial planning

PRIORITIZE
EXPECTATION
DISCOVERY GOALS RECOMMENDATIONS & REVIEW
S
IMPLEMENT
Discuss amongst Collect Financial of Options Action plan Engagement
other things what information Retirement privacy and
Overwhelming to address
sort of financial current service
Inflation
advisory financial A short period of time Agreement
adjusted
relationship circumstances
after-tax Action plan to Prioritize documents
we also
discuss and implement
Family Continual
recommendations
situation process of
renewal which
leads us back
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English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

to
expectations
again

3.3 READING PRACTICE: reading about personal financial planning.

Before reading the next text, look for the following words/ expressions and write down their definition.

Finances/ economics/ economy goods services market forces/ prices/ supply/ demand/ manufacture rise/
business/ credit union/ savings/ checking account/ loan/ investments

Finances: the management of large amounts of money, especially by governments or large companies.
Economics: the branch of knowledge concerned with the production, consumption, and transfer of
wealth
Economy goods services market forces: In economics, market forces refer to factors that influence the
price and quantity of goods and services, driving supply and demand in a market. These include
competition, consumer preferences, technological advancements, economic growth, and government
regulations.
Prices: the amount of money expected, required, or given in payment for something.
Supply: the total amount of a product or service a supplier offers to consumers.
Demand: an economic concept that relates to a consumer's desire to purchase goods and services and
willingness to pay a specific price for them.
Manufacture rise: an increase in production if there is a shortage of power in the market.
Business: the practice of making one's living or making money by producing or buying and selling
products.
Credit union: a non-profit-making money cooperative whose members can borrow from pooled
deposits at low interest rates.
Saving: the money one has saved, especially through a bank or official scheme.
Checking account: a type of bank account that allows you to easily deposit and withdraw money for
daily transactions.
Loan: a thing that is borrowed, especially a sum of money that is expected to be paid back with
interest.
Investments: the action or process of investing money for profit.

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 English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

rsonal
nning1
What factors can influence your
personal financial planning?

Many factors will influence your day-

to-day decisions about finances. The
three most important factors are:
Life situations
Personal values
Economic factors

Life Situations and Personal Values

As you enter adulthood, you will

experience many changes. You may go
to college, start a
new career, get married, have children, or move to a new city. These new life situations will
affect your financial planning. Your personal values also influence your financial decisions.

For example, “Angela just graduated from high school and will be going to college in the fall.
She will move out of her parents’ house and live in the college dorm. Angela is beginning a new
and exciting stage in her life. She values independence, and so she plans to move to an
apartment with a roommate in her sophomore year. She will experience more personal
freedom, but with her independence will also come more financial responsibility”.

Economic Factors

Economic factors across the country and around the world can affect personal finances.
They play a role in day-to-day financial planning and decision making for most people.
Economics is the study of the decisions that go into making, distributing, and using goods and
services. The economy consists of the ways in which people make, distribute, and use their
goods and services. To understand economics and the economy, you need to be aware of the
market forces, financial institutions, global influences, and economic conditions that affect
global as well as personal decisions.
Market Forces: The forces of supply and demand determine the prices of products, or goods
and services, you purchase.

1 Text adapted from: https://printableworksheets.in/worksheet/financial-planning-reading. used by SENA

for pedagogical purpose, exclusively.
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English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

Supply is the amount of goods and services available for

sale.

Demand is the amount of goods and services people are willing to buy. When there is a high
demand for an item, such as a popular toy, or when a company cannot manufacture enough
of a certain product to keep up with the demand, the price of the product rises. When there
is little demand for a product, or when a company produces more than it can sell, the price of
the product drops.

Financial Institutions: Most people do business with financial institutions, which include
banks, credit unions, savings and loan associations, insurance companies, and investment
companies. Financial institutions provide services that increase financial activity in the
economy. For example, they handle savings and checking accounts, provide loans, sell
insurance, and make investments for their clients.

Based on the information presented in the text, answer the following questions:

- Mention one life situation that might affect your personal financial planning.
Investing poorly may set back my financial plan, but I trust that it won't happen in a
very bad way.
- In your opinion, which of the economic factors seriously affects your personal
financial planning?
In my opinion, inflation and interest rates are two of the economic factors that have a
significant impact on my personal financial planning.
- Which do you think is one of the supplies that due to its demand is really expensive?

Well, I think one of the things that has become super expensive due to high demand
is computers. Everyone seems to want to have the latest models of components for
their computers, and that drives prices up a lot.

3.4 WRITING PRACTICE

- Prepare a poster with some tips for your friends and their families with a model for
financial planning and deliver to your instructor. Take into account the information
presented on this workshop.

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English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

- List 2 of your primary short-, mid-, and long-term financial goals, the approximate
date when you expect to achieve them, how much you have saved already,
approximately how much you’ll need, and where your savings are. Follow the
example below.

GOAL TIEM ON HAND NEEDED AMOUNT OR ACCOUNT/INE

FRAME RATE OF
RETUR
NEEDED TO
REACH GOAL
buy a two %1.300.00 $1.200.000 %580.000 per Savings
new months 0 to month, account

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English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

computer complete usually about

the 4 to 5 months
$2.500.000
*This list can serve as benchmark for evaluating your progress. Remember that it’s perfectly normal for your
goals to change as your life changes2

4. Extension activities: the extension activities will help you improve your performance in the
topics. You need to reach at least five hours of practice on your own.

- Explore the following website and practice the English structure (THIRD
CONDITIONAL). Do the activities and deliver them to your instructor:
https://learnenglishteens.britishcouncil.org/sites/teens/files/gs_third_conditional_ _e
xercises.pdf

- For more information about financial planning habits:

https://www.youtube.com/watch?v=Ed2L-X7LOj4
- Find tips to improve your habits: https://www.youtube.com/watch?v=tZw8tnz-uv8

2 Image taken from internet as an example

https://docs.google.com/viewerng/viewer?url=https://www.wclibrary.info/research/moneysense/doc
uments/goals_worksheet.pdf&hl=en_US. Used by SENA for pedagogical purpose, exclusively.

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