Personal Money Management (2)

 A. A Mid-Lesson Reflection

    As a student, what are the good things you can do to show you that you understand financial literacy?
    my Answer :
    By learning financial literacy, as a student I become more aware of my daily spending priorities. Know which ones are needs and which ones are wants. I avoid waste, I save more and my money is more organized. I know my income and expenses. That way it also seems like I realize my responsibility towards the money I have.

B. Activity 8

C. Linking Related Texts

    Information about Financial Literacy 

    - Saurce of Information : Investopedia.com (The Link : https://www.investopedia.com/terms/f/financial-literacy.asp#:~:text=Error%20Code%3A%20100013)-,What%20Is%20Financial%20Literacy%3F,a%20smart%20relationship%20with%20money.)

    - Title of the Video/News/Post : What it is Financial Literacy and Why It Is So Important to Teach Teen.

    - Your Understanding : 

    Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. A strong foundation of financial literacy can help support various life goals, such as saving for education or retirement, using debt responsibly, and running a business. Financial literacy can be obtained through reading books, listening to podcasts, subscribing to financial content, or talking to a financial professional.

    Financial literacy gives an individual the tools and resources they need to be financially secure throughout their life. The lack of financial literacy can lead to many pitfalls, such as overspending and accumulating unsustainable debt burdens. This, in turn, can lead to poor credit, bankruptcy, housing foreclosure, or other negative consequences.

    Millennials, the largest in the American workforce, are often ill-prepared for financial crises due to their lack of financial literacy. This is reflected in the high levels of student debt and mortgages among them. However, understanding finances can empower individuals to make smarter decisions about their own finances.

    Strategies to improve financial literacy include creating a budget, paying bills on time, monitoring and managing debt, and investing for the future. Financial education is also very important in the school curriculum to equip students with the knowledge and skills necessary to face everyday financial decisions.