Calantina, Rhea S.

1. What is financial literacy? Explain.

Financial literacy is the cognitive understanding of financial components and skills
such as budgeting, investing, borrowing, taxation, and personal financial
management. The absence of such skills is referred to as being financially illiterate.

2. Differentiate budgeting, saving, spending, and investing.

Budgeting is the act of putting together a budget, which is an estimate of your
revenue and expected expenses for a given time period. Savings refers to the
money left over after your expenses are subtracted from your revenue, also within
a specific time period. spending is disbursing money for living expenses and
others, while investing is spending your money to build your financial wealth.

3. What are ways of avoiding financial scams?

Impersonation Scams is of the one common scam involves scammers posing as
reputable institutions like banks or government agencies. Be aware of traditional
scams. · Educate customers and employees about phishing and social engineering
attacks.
5. When can we say that a person is financially stable?
Being financially stable means you have enough money coming in to cover your
expenses, as well as some extra funds to put aside for savings or potential crises.
You continuously save money, you have paid your high-interest debts and you
don't fret about emergencies because you're financially prepared.

6. How will you integrate financial literacy into the curriculum for related
disciplines?
Come up with a plan to incorporate financial concepts into your curriculum and
classroom management strategy. For example, you can ask students to plan a
fundraiser for a charity or local organization as a class project. Calculating
expenses, making a budget, giving customers change, tracking profit, etc. Financial
literacy helps you manage your money wisely, make sound financial decisions, and
achieve financial stability in life. On top of this, financial literacy also helps you
get through the unexpected moments in life – like a medical emergency or a sudden
loss of employment.

7. Fill in the following coins with concepts on financial literacy related to

budgeting, spending, investing, and saving. Then, cite the reasons why we need to
have them and also ways of applying or practicing them. You may write
explanations in the spaces below the coins inside the box.