seminar on financial literacy for masters.pptx

financial literacy

1. FINANCIAL LITERACY Jeremy C. Ragot , DBA, Llb , CPA Accountancy Department College of Business and Entrepreneurship

2. Financial Literacy It is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.

3. Why are so many people struggling financially? Filipino attitude towards money Lack of financial education

4. Filipino Attitudes Toward Money Filipino’s cultural predisposition to get along with others puts them in a situation where they spend for co-workers snack or lunch as a treat because it is their birthday or payday, and many others

5. Filipino Attitudes Toward Money Upon receiving windfalls like bonus or other unexpected cash gifts, they tend to buy gadgets, branded and expensive clothes, trinkets because of the idea that: “I worked hard for it, I deserve a treat!”

6. Filipino Attitudes Toward Money Many Filipinos are guilty of this financial sin. Buying what their neighbor has or spending on things which are in trend even if it is beyond their financial capacity.

7. Filipino Attitudes Toward Money Things such as car, mobile phones, laptops are sometimes mistaken to as assets. Car, for example, turns out to be a liability because you need to pay for the car’s insurance, maintenance, gasoline, etc.

8. Filipino Attitudes Toward Money This habit is not intertwined in our culture, but proponents of these scams appeal to a person’s inner greed for money, whether they are Filipino or not. Even if they don’t fully understand how the said company operated they tend to put in their money.

9. Are you guilty of these habits?

10. Three (3) important facts about money 1 . Money is part of EVERYONE’S life. 2. Money were not TOUGH to us in school. 3. SO many of the Filipino are ILLITERATE when it comes to money

11. Example of Financial problems Naluluko sa mga scam Nalulubog sa utang Isang kahig isang tuka Ilang taon na nag tratrabaho wala paring ipon

12. We should learn how to use the money properly The way we earn it The way we spend it The way we grow it

13. Incorrect Money Knowledge Bad Financial Decision Financial Struggles and worries Proper Financial Education Good Financial Decision Financial Success and Freedom

14. P ERSONAL F INANCE & F INANCIAL L ITERACY Is nothing but knowing How to keep what YOU earn and do More with what you Keep FINANCIAL LITERACY is understanding how you can build your personal wealth

15. CASHFLOW QUADRANT (Four ways that money may come from)

16. Where does your Money go?

17. Budgeting It is the process of creating a plan to spend your money. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do.

18. The 50/30/20 Budgeting Rule Elizabeth Warren, a Harvard bankruptcy expert and US Senator from Massachusetts, coined the “50/30/20 rule” for spending and saving money.

19. Application Budget for my P15,360 monthly allowance

20. Income Expenses Savings - = What is commonly done?

21. Income Savings Expenses - = Let’s practice this!

22. Thank You and have a nice day ahead!