USAID Opportunity 2.

0 Program:
Second-chance Opportunities for Out-of-school Youth

LIFE SKILLS FOR SELF-DIRECTED LEARNING

MODULE 7: FINANCIAL FITNESS

LEARNER’S HANDBOOK
Module 7: Financial Fitness Learner’s Handbook

Acknowledgements
Education Development Center (EDC) would like to thank the staff of the USAID Opportunity 2.0
Program, Philippines local team, and the DepEd Alternative Learning System Task Force, whose
invaluable insights guided the adaptation of this curriculum.

As part of the Journey to Self-Reliance, the education system of DepED ALS will be strengthened to
reach vulnerable out-of-school youth through providing them with second chance education so that
learners are better equipped with the soft and leadership skills they need to excel in the labor market
today and into the future.

The Life Skills Curriculum is an adaptation of EDC’s globally recognized Work Ready Now.

© 2020 Education Development Center, Inc.

This content may not be produced without the permission of Education Development Center or the United States
Agency for International Development.

This curriculum is made possible by the generous support of the American people through the United States
Agency for International Development (USAID). The contents are the responsibility of Education Development
Center, Inc. and do not necessarily reflect the views of USAID or the United States Government.

EDC 43 Foundry Avenue Waltham, MA 02453 Education Development Center (EDC) is a global
nonprofit that advances lasting solutions to improve
Contact: [email protected] education, promote health, and expand economic
opportunity.
Phone: 617-969-7100 Since 1958, we have been a leader in designing,
implementing, and evaluating powerful and innovative
programs in more than 80 countries around the world.

Boston | Chicago | New York | Washington, D.C.

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Module 7: Financial Fitness Learner’s Handbook

Module 7: Financial Fitness

“Maging matalino sa paggamit ng iyong pera upang magkaroon ng sapat na ipon”

Be wise in using your money to have enough savings.

Financial Fitness Objectives

By the end of the module, you will:
✓ Analyze financial needs effectively
✓ Determine ways to decrease expenses through reuse, recycling, reduction and
repair
✓ Explain the importance of saving and identifying savings goals
✓ Be aware of the risks associated with debt and strategies to keep out of debt
✓ Keep basic records
✓ Describe the importance of budgeting and develop personal budgets
✓ Identify financial institutions in the Philippines
✓ Explain with the process in opening a savings account

Module Overview

 Activity  Time
 Session 1: Need for Finance
1: Needing and Accessing Money and Learners’ Reflection 60-75 minutes
Session 2: Financial Fitness
2: Becoming Financially Fit 45-60 minutes
3: Decreasing Spending 30-45 minutes
 Session 3: Saving
4: What is Saving? 20-35 minutes
5: Savings Goals 20-30 minutes
6: Where to Save My Money 30-50 minutes
 Session 4: Managing Debt
7: How to Avoid Debt 30-40 minutes
 Session 5: Record-Keeping and Budgeting

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Module 7: Financial Fitness Learner’s Handbook

 Activity  Time
8: Basic Record-Keeping 40-60 minutes
9. Personal Budgeting 30-40 minutes
 Session 6: Exploring Savings & Loans in the Philippines
10: Financial Structures and Institutions and Application 120-180 minutes
Total Time: 7-10 hours

Written Assignments

This is a checklist of all the written documents for learners to accomplish. The facilitator will put a
tick mark on the submitted outputs and follow-up on those that have not been submitted yet.

❑ 7.1: Reasons I Need Money

❑ 7.2: Financial Needs Over the Course of a Lifetime
❑ 7.3: How Adults I Know and Trust Have Accessed Money
❑ 7.4: Comparing Different Ways of Accessing Money
❑ 7.5: What Physical Fitness Looks Like
❑ 7.6: What Financial Fitness Looks Like
❑ 7.7: Looks Can Be Deceiving
❑ 7.8: My Financial Fitness Habits
❑ 7.9: Identifying Wasteful Spending
❑ 7.10: The Four Rs in My Life
❑ 7.11: If I Won P5,000
❑ 7.12: My Savings Goals
❑ 7.13: Strategies for Getting Out of Debt
❑ 7.14: Money In and Money Out
❑ 7.15: My Money In and My Money Out
❑ Session 5 Writing Space: Creative Interpretation
❑ 7.16: Prices for My Items
❑ 7.17: My Personal Budget
❑ Session 6 Writing Space: Community Map of Financial Institutions
❑ 7.18: Opening a Savings Account
❑ Module 7 Writing Space: Relating Skills and Other Learnings to Daily Life

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Module 7: Financial Fitness Learner’s Handbook

SESSION 1: NEED FOR FINANCE

Learning Strand 4: Life and Career Skills

Content Standard: Sustainable Consumption
Performance Standard F: Apply working knowledge, attitudes, and life skills as a
consumer to promote more sustainable living
Learning Competencies:

12 Wise and safe handling of money - LS4LC-SC-PSF-AE/JHS-12

 Key Topics and Learning Points

1. Reasons we need money

2. Ways of accessing money

 We have different needs for money that change at different stages of life.
 We need to plan how to get money for the things that we need.
 We can get money by borrowing, saving, and working to earn money.

Activity 1: Needing and Accessing Money

Objectives:

✓ Identify things for which money is needed

✓ Identify how the things for which money is needed may change as life situations
change
✓ Recognize the need for planning ahead about money
✓ Distinguish between ways to access money, including borrowing, saving, and
working to earn money

 Recommended Time: 60-75 minutes

Welcome to Module 7: Financial Fitness! In the previous module, we learned about the
rights and responsibilities of workers and employers. Let’s take a moment to review
some of those points.

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Module 7: Financial Fitness Learner’s Handbook

 What three things did you learn from the previous module on Rights & Responsibilities
of Workers and Employers?

 Let’s now turn to this new module on Financial Fitness. Read the proverb at the
beginning of the module. What does it mean? How is it related to financial fitness?

 This module will focus on Financial Fitness. What do you think this term “financial
fitness” means?

In this module, you will learn how to better manage your money and to be financially fit.

 7.1: Reasons I Need Money

We may handle or think about money so often that we lose sight of its actual purpose. Why do
you need money? What function does money serve in a society? List those reasons in the
space below.

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Module 7: Financial Fitness Learner’s Handbook

The reasons that we need money, however, may not always stay the same over the course of a
lifetime. For instance, as a teenager, you might need books for school. If you are looking after
children and a family, you may need to pay for school fees, medicine, and clothing.

 7.2: Financial Needs Over the Course of a Lifetime

List down some things that you have used or will use money for during different stages in life.
What major events might take place during each stage? Why might you need money? For
instance, perhaps during high school, you will need to purchase school supplies. Try to list at
least 3 things for each category.

Life Stage Reasons I May Need Money

Childhood
(primary
school age)

Teenager (high
school age)

College

Working

Running a
business

Marriage
(looking after
family and
children)
Retirement/old
age

Look at the list of things you may need money for. Pick the top 5 things you need now and

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Module 7: Financial Fitness Learner’s Handbook

mark them with a circle.

We often need things immediately but do not have enough money to pay for them. Has
this situation ever happened to you? Though we may feel alone or isolated in these
moments, many people have faced such challenges! Learning from others can help to
provide perspective.

 7.3: How Adults I Know and Trust Have Accessed Money

Talk to your parents or older adults (such as neighbors, friends, or other relatives) about
whether they have faced a situation where they did not have enough money to pay for
something. If so, what were their options? Ask for real life examples of how they have gotten
money before to pay for something that they could not afford immediately. Try to speak at
least four different people.

Person Situation they were in Their options to access Choice they ultimately
(name and relation to that required money money made to access money
me)

 7.4: Comparing Different Ways of Accessing Money

Now, take a moment to analyze the findings of your interviews. Based on your interviews with
trusted adults or friends, fill out the chart below.

Ways of How many people interviewed Circle the action(s) that they took
accessing chose this option?
money
Saving • Saving in a bank

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Module 7: Financial Fitness Learner’s Handbook

Ways of How many people interviewed Circle the action(s) that they took
accessing chose this option?
money
• Saving under your bed
• Saving in a community savings group
(cooperatives)

Working • Working in a job that pays a salary or

wage
• Earning money from part time work
• Starting a business

Borrowing • Borrowing from family members

• Borrowing from the bank
• Borrowing from a community savings
group

Finding other • Buying on credit

means • Applying for a grant or scholarship
• Receiving gifts of money
• Other:

In your opinion, which is the best way to access money? Why? Rank these options from 1
(being to the best) to 4. List the advantages to each option below.

Ranking Way of accessing money Advantages Disadvantages

1.
2.
3.
4.

There are advantages and disadvantages to each way of accessing money. (Of course,
some ways of accessing money, such as theft, are never acceptable.) Your rankings may
change as you grow older.

Learners’ Reflection: Module 7 Financial Fitness

This is not a test but is a way for us to see what you already know or do not know about the
topics. You will read a skill that is listed in the left column. Think about yourself and your

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Module 7: Financial Fitness Learner’s Handbook

experience. Then read the statements across the top. Check the column that best represents
your situation. The results will help you and the instructor know which topics may require more
time, effort and guidance.

Ang mga katanungan dito ay hindi test. Ito ay isang paraan upang malaman mo ang iyong
kaalaman, kasanayan o kakayahan tungkol sa paksang ito. Basahin mo ang mga kaalaman,
kasanayan o kakayahan na nakalista sa kaliwang kolum. Magbalik-tanaw sa iyong sarili at mga
karanasan, basahin ang lahat ng mga pangungusap at i-tsek ang sagot na naaangkop sa iyong
sitwasyon. Ang iyong kasagutan ay magiging gabay mo at ng iyong guro sa pagpapalawak ng
iyong kaalaman tungkol sa paksang ito.

1 2 3 4
My experience I don’t have any I have very little I have some I have a lot of
experience doing experience doing experience doing experience doing
Knowledge, skills and this. this this. this.
abilities
Wala akong Kaunting- kaunti Mayroon akong Marami akong
Kaalaman, kasanayanat karanasan sa lamang ang aking karanasan sa karanasan sa
kakayahan paggawa nito nalalaman sa paggawa nito paggawa nito
paggawa nito

Identifying ways to access

money / Pagtukoy ng mga
paraan para makalikom ng
pera
Understanding habits of
good money management /
Maintindihan ang mga
mabubuting paraan sa
paghawak ng pera
Using ways to decrease
one’s spending /
Pagsasagawa ng mga
paraan para mabawasan
ang mga gastusin
Identifying and planning for
savings / Pagtukoy ng mga
paraan at pagplano para
makapag-ipon.
Understanding debt and
ways to avoid getting into
debt / Pagpapalawak ng
kaalaman tungkol sa
pangungutang at mga

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Module 7: Financial Fitness Learner’s Handbook

1 2 3 4
My experience I don’t have any I have very little I have some I have a lot of
experience doing experience doing experience doing experience doing
Knowledge, skills and this. this this. this.
abilities
Wala akong Kaunting- kaunti Mayroon akong Marami akong
Kaalaman, kasanayanat karanasan sa lamang ang aking karanasan sa karanasan sa
kakayahan paggawa nito nalalaman sa paggawa nito paggawa nito
paggawa nito

paraan para makaiwas sa

pangungutang

Keeping a record of one’s

money and knowing which
things to keep a record of /
Pagtatala ng aking pera at
kaalaman sa mga bagay na
dapat itinatala
Preparing a current budget
for one’s self and knowing
what things to list in one’s
budget / Pagba-badyet para
sa aking sariling
pangangailangan, at
pagtukoy ng mga bagay na
aking dapat ilista sa aking
badyet
Knowing which
organizations one could go
to get savings and loans
services in the Philippines /
Alamin ang mga
organisasyon sa inyong
lugar na maaring paglagyan
ng perang naipon

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Module 7: Financial Fitness Learner’s Handbook

Session 1 – Writing Space

Use this space to complete any of the written assignments above or write any thoughts
or ideas that have come to mind about the topic.

Congratulations! You have completed this session. You may now proceed to the next
session!

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Module 7: Financial Fitness Learner’s Handbook

SESSION 2: FINANCIAL FITNESS

Learning Strand 4: Life and Career Skills

Content Standard: Sustainable Consumption
Performance Standard F: Apply working knowledge, attitudes and life skills as a
consumer to promote more sustainable living
Learning Competencies:

4 Practice reusing and recycling - LS4LC-SC-PSF-AE/JHS-4

12 - Wise and safe handling of money - LS4LC-SC-PSF-AE/JHS-12

- Generate and manage savings

 Key Topics and Learning Points 

1. Financial fitness
2. Ways to cut spending: Re-use, repair, reduce, recycle

 We need to develop good habits to stay financially fit.

 It is sometimes hard to tell whether people are financially fit or not.
 Rich and poor people can waste money if they are not careful.
 Anyone can save money by practicing the Four Habits of Saving Money: Reduce, Reuse,
Repair, Recycle.

Activity 2: Becoming Financially Fit

Objective:

✓ Identify good ways to be financially fit

 Recommended Time: 45 - 60 minutes

Fitness tells us whether we are capable of doing something or not. Most people
associate fitness with physical fitness, or the capability to do physical activities. Some
people do are more skilled at staying physically fit than others.

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Module 7: Financial Fitness Learner’s Handbook

Ask a family member to arm or thumb wrestle with you. Ask the
same family member to run a short race with you. Who beat
whom? One person may be slightly stronger than the other as they
have more practice working out their arms. Maybe their job
requires them to carry heavy things. Or maybe they run every
morning as part of their exercise routine.

 7.5: What Physical Fitness Looks Like

Think of your favorite athlete or sports star. How do you know that they are fit? What do you
think they do to make sure that they are fit enough to play the sport they play?

People who are physically fit often have habits such as frequent exercise, plenty of sleep,
and a healthy diet. But people can be financially fit, too. There are healthy habits that
you need to learn to become and to stay financially fit.

Here are two of the most important habits for financial fitness: (1) saving money and (2)
not spending more money than you have.

These habits may sound simple, but they can be more difficult than they appear! Still,
with discipline and clear goals, you can achieve financial fitness, one step at a time.

 7.6: What Financial Fitness Looks Like

Being financially fit means having the money when you need it. Financial fitness occurs when
you live within your means (in other words, do not spend more than you have), avoid debt, and

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Module 7: Financial Fitness Learner’s Handbook

have savings. Write “yes” below if you think the habit is one that will help you become financially
fit. An example has been provided below.

Habit Does this habit Why or why not?

contribute to
financial fitness?
(Write YES or NO.)
Working hard to make money Example → YES If you make more money, you can save
more money.

Always looking and listening for

new ways to earn or save money

Spending all of the week’s

allowance before the week is over

Always carefully counting coins

and notes

Paying attention to the difference

between things you really need,
and things that are nice to have
but waste your money
Putting money aside for
emergencies

Looking for bargains that help you

spend wisely
Using money that’s meant for
groceries to buy a new pair of
shoes

Making sure to store money

securely

Asking questions to learn from

others about making and
managing money

You can usually tell by looking at people whether they are healthy or unhealthy,
physically fit or not in shape. But sometimes people who look healthy can be suffering
from diseases that are not easily noticed.

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Module 7: Financial Fitness Learner’s Handbook

The same is true about people who may or may not be financially fit. For example,
someone who drives a fancy car may appear wealthy but may actually be deep in debt
and owe money on many bills. On the other hand, someone who leads a rather modest
lifestyle may in fact have plenty of money in their savings account.

In other words, financial fitness is not something that you can see just by the looks or
lifestyle of someone. The decisions you make and things you do or not do will show
whether you are financially fit.

 7.7: Looks Can Be Deceiving

Look at the list below. Do you think these are signs of financial fitness? Write yes or no and
then why you chose your answer.

Is this a sign of financial fitness? YES OR NO Why or why not?

1. He has three cars in the garage.

2. He makes and follows a personal

budget every month.

3. She has savings in her bank account

set aside for an emergency.

4. Her family goes on trips abroad every

summer.

5. She spends more than she saves.

6. He repairs his clothes instead of

immediately buying new ones.

Indeed, just like people can appear healthy from the outside, but not actually be
healthy on the inside, people may appear wealthy but not be financially fit. They may
own fancy cars or flaunt items such as designer clothes or new technology. In reality,
they may actually owe large amounts of money, have no emergency savings or fail to
organize their money well.
On the other hand, someone who lives a modest lifestyle may have plenty of savings,
no debt, and a well-organized budget. Which person would you rather be?

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Module 7: Financial Fitness Learner’s Handbook

You may have heard of the expression, “don’t judge a book by its cover.” The same
goes for financial fitness! You cannot always judge the content of something by its
exterior.

Let’s Apply: Track Your Financial Habits

Track your financial habits over the course of a day (or several days). You can use the ledger
below. Each time you spend money—even if it’s a very small item—record it on a piece of
paper. An example has been completed for you. What you write down may surprise you!

Example 
Date Item Type of item Payment method Cost
Jan. 3 Loaf of bread Food Cash P55

Your turn 
Date Item Type of item Payment method Cost

Total spending →
(Update your total spending as you complete the tracker.)

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Module 7: Financial Fitness Learner’s Handbook

 7.8: My Financial Fitness Habits

Now, look at your spending transactions that you recorded. Reflect on your financial habits.
Did you notice any patterns? For instance, is there a type of item on which you spend the most
money? Did you spend your money in resourceful or in wasteful ways? Are you surprised by
what you observed about yourself?

On a scale of 1 to 10, with 10 being the most financially fit, where would you consider
yourself?
Circle the number.

1 2 3 4 5 6 7 8 9 10

What bad habits do you have now that you should avoid so that you can be financially fit?

What good financial fitness habits would you like to continue to cultivate? How will you do so?

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Module 7: Financial Fitness Learner’s Handbook

Sharing is Caring

Share what you have learned about financial fitness habits with family and friends. Discuss
with them the different ways you can achieve financial fitness individually and as a group.
You can have this discussion face to face, via text, chat, or whatever means available and
comfortable to you. Remember to thank them for their help on your schoolwork!

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Module 7: Financial Fitness Learner’s Handbook

Activity 3: Decreasing Spending

Objectives:

✓ Identify signs that money is being wasted

✓ Identify ways to cut costs through reducing, recycling, repairing, and reusing

 Recommended Time: 30-45 minutes

It is tempting to think that only rich people can waste money. After all, rich people
have lots of money, so it is easier for them to spend it on things that they do not really
need. But is this really true?

 7.9: Identifying Wasteful Spending

Look at the list of spending activities below and identify whether the item is a resourceful way
to spend money or if it is a waste. List your reasons why. An example has been completed for
you.

Spending Activity Resourceful or wasteful? Why?

Paying for transport on a motorcycle when Wasteful When it is not far, you
you could have walked. can walk. It is free.

Buying soft drinks when you have enough

water to drink.

Repairing your bicycle tire instead of

buying a new one.

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Spending Activity Resourceful or wasteful? Why?

Buying new clothes when you have enough

clothes.

Turning off the lights when you are not in a

room to reduce the electricity bill.

Spending all your money on cell phone load

to talk with friends.

In fact, people with any level of income can waste money if they are not careful. Being
wasteful is a not a habit confined to rich people.

There is good news: there are Four Habits that can help anyone to save money, one
step at a time.

Four Habits to Cut Costs

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Module 7: Financial Fitness Learner’s Handbook

 7.10: The Four Rs in My Life

Refer to The Four Habits to Cut Costs. Think about the habits that make up the four Rs: re-use,
repair, reduce, and recycle. List down or draw examples where you have exercised these Four
Habits to Cut Costs:

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Module 7: Financial Fitness Learner’s Handbook

Think about it!

Talk to your family about the last time you had to buy something. Could it have been re-used,
repaired, or recycled? Discuss with them face to face, via text, chat, or whatever means
available
and comfortable to you. It’s always great to share your ideas and hear more points of view. ☺

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Module 7: Financial Fitness Learner’s Handbook

Session 2 – Writing Space

Use this space to complete any of the written assignments above or write any thoughts
or ideas that have come to mind about the topic.

Congratulations! You have completed this session. You may now proceed to the next
session!

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Module 7: Financial Fitness Learner’s Handbook

SESSION 3: SAVING

Learning Strand 4: Life and Career Skills

Content Standard: Sustainable Consumption
Performance Standard F: Apply working knowledge, attitudes and life skills as a
consumer to promote more sustainable living
Learning Competencies:

12 - Wise and safe handling of money - LS4LC-SC-PSF-AE/JHS-12

- Generate and manage savings - LS4LC-SC-PSF-AE/JHS-12
- Manage financial loans and investments - LS4LC-SC-PSF-AE/JHS-12
14 Demonstrate sufficiency and moderation in one’s individual and family
consumption practices - LS4LC-SC-PSF-AE/JHS-14

 Key Topics and Learning Points 

1. Saving
2. Where to save money

 Saving is storing small amounts of money for emergencies, unexpected events, or items
you need.
 Whether you have a little or a lot of money, you can always save.
 Savings goals are what you want to save for and how much you need to save.
 Saving options outside the home include places such as a local cooperative, rural banks,
at a credit union, or in a microfinance bank.

Activity 4: What is Saving?

Objectives:

✓ Understand the concept of saving

✓ Recognize that a person does not need to be rich to save money
✓ Know the need to save for unexpected events and for specific things

 Recommended Time: 20-35 minutes

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Module 7: Financial Fitness Learner’s Handbook

Long before people used money and banks, farmers and villagers would save some of
the seeds from their fruit or vegetables to plant in their fields the following year.
Farmers knew that if they ate all their seeds, then they would not be able to plant and
raise a new crop. And if they could not harvest a new crop the following year, then they
would have nothing to eat. For these ancient farmers, saving some of their seeds
meant saving their lives.
Even though we are now in the twenty-first century, in many ways, the concept of
saving remains the same as it did for these villagers. Saving means putting some things
aside to be used at a future time. Some people save food: instead of eating it all today,
they save some for a day when they might not have enough. People can save money,
too. They put money aside in a safe place in case they need to pay for something
unexpected or for emergencies.

 What are examples of things that people save? Why might they save them?

 What is an example of something you or someone you know saved up for? How long
did it take to save for that item?

 “Everyone can save, whatever their income; it is a question of behavior.” What do you
think is the meaning of this statement?

 7.11: If I Won P5,000

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Module 7: Financial Fitness Learner’s Handbook

Imagine that you just won P5,000. Knowing what you know about financial fitness, how would
you spend this money? How much would you save and for what?

Do this activity with a member of your family.

Amount: Spend for: Save for:

(total must reach P1,000)
(example) 100 Cell phone load
(example) 100 New shoes

 Reflect on how you would spend this money. Were you more inclined to spend or to
save? What types of things would you spend on or save for?

When we receive money—whether it is unexpected, like a prize, or expected, like a

salary—it is always a good idea to think about not only the present moment but also
planning for the future. That may mean putting aside money in an emergency savings
fund or perhaps making a needed repair on a house before inclement weather.

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Activity 5: Savings Goals

Objective:

✓ Identify savings goals, including what to save for and how much to save

 Recommended Time: 20-30 minutes

Saving takes time and planning. You can choose what to save for, how much to save, and,
how long to save for. You can save for short-term needs, such as new shoes or clothes,
or for long-term plans, like attending college or to start a business. Start small and make
these goals as realistic as possible.

You may also think about saving for emergencies. Some people refer to this practice as
“saving for a rainy day”—in other words, an unexpected and urgent event such as a
medical bill, a house repair, etc., that requires a large amount of money. In this case, you
may not have a specific amount in mind, but it is good to keep putting money aside for
an emergency to be prepared.

 7.12: My Savings Goals

What are your savings goals? List them in the space that follows.

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Activity 6: Where to Save My Money

Objective:

✓ Identify the best and safest places to keep and save money

 Recommended Time: 30-50 minutes

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Sometimes people save money in their homes. They hide it under the floor or under
their bed. All too often, people might learn the hard way that their homes are not a
safe place to keep money, as the money could be stolen or lost in a fire.

It is safer and better to save money in a place such as a local cooperative, rural bank,
credit union, or microfinance bank. These are organizations that keep your money safe
for you.

 What do you think are the risks of keeping your money inside your home?

 What places might be better alternatives for saving money? List them. Why might they
be better options?

Savings in the Philippines

Now let’s learn about saving options at banks in the Philippines.

The Philippine banking system is composed of universal and commercial banks, thrift banks, rural
and cooperative banks.

Universal and commercial banks represent the largest single group, resource-wise, of financial
institutions in the country. They offer the widest variety of banking services among financial
institutions. In addition to the function of an ordinary commercial bank, universal banks are also
authorized to engage in underwriting and other functions of investment houses, and to invest in
equities of non-allied undertakings.

The thrift banking system is composed of savings and mortgage banks, private development banks,
stock savings and loan associations and microfinance thrift banks. Thrift banks are engaged in
accumulating savings of depositors and investing them. They also provide short-term working capital
(money) and medium- and long-term financing to businesses engaged in agriculture, services,
industry and housing, and diversified financial and allied services, and to their chosen markets and
constituencies, especially small- and medium- enterprises and individuals.

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Rural and cooperative banks are the more popular type of banks in the rural communities. Their role
is to promote and expand the rural economy in an orderly and effective manner by providing the
people in the rural communities with basic financial services. Rural and cooperative banks help
farmers through the stages of production, from buying seedlings to marketing of their produce. Rural
banks and cooperative banks are differentiated from each other by ownership. While rural banks are
privately owned and managed, cooperative banks are organized/owned by cooperatives or
federation of cooperatives.

Commercial and universal banks are currently minor players in the provincial banking market. They
have low branch density outside Manila and traditionally focus on more wealthy clients, since
minimum account size limits exclude lower income groups.

Thrift and rural banks focus on the ‘lower mass’ consumer market, and provide most bank lending
to Micro, Small and Medium Enterprises (MSMEs). There are 83 thrift banks and 690 rural banks.
Rural banks account for 2.6% of the banking sector assets in the Philippines; thrift banks account for
8.5%.

Rural and thrift banks are common throughout the country. The greater level of economic activity in
Luzon is reflected in the lending profile: 54% of rural bank branches and 67% of rural bank lending is
in Luzon.

There are a large number of microfinance organizations in the Philippines, providing credit to lower
income people. Many of these microfinance organizations are very small, are un-regulated and are
focused on urban areas. The target group of these organizations is narrow – typically focusing on the
urban poor.

Middle and lower-middle income people rarely use deposit accounts, especially if they live outside of
the major urban centers. Poorer people may have more access to credit, from informal and semi-
formal sources of credit, such as cooperatives and self-help groups and micro-finance institutions.

Sources: [email protected] and www.bsp.ph.gov

Let’s Exercise!

Fill in the blanks:

1. ____________________ and ____________________ banks offer the widest variety of

banking services among financial institutions.

2. ____________________ provides short-term working capital (money) and medium-

and long-term financing to businesses.

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3. Typically, ____________________ are very small, are un-regulated and are focused on
urban areas.

4. ____________________ and ____________________ banks are the more popular type

of banks in the rural communities.

5. ____________________ is composed of universal and commercial banks, thrift banks,

rural and cooperative banks.

Think about it!

Knowing what you know now, how would you go about saving your money? Where would you
prefer to keep it? Why? Discuss with family members or friends. It’s always great to share your
ideas and hear more points of view ☺.

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Session 3 – Writing Space

Use this space to complete any of the written assignments above or write any thoughts
or ideas that have come to mind about the topic.

Congratulations! You have completed this session. You may now proceed to the next
session!

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SESSION 4: MANAGING DEBT

Learning Strand 4: Life and Career Skills

Content Standard: Sustainable Consumption
Performance Standard F: Apply working knowledge, attitudes and life skills as a
consumer to promote more sustainable living
Learning Competencies:

12 - Wise and safe handling of money - LS4LC-SC-PSF-AE/JHS-12

- Generate and manage savings
14 Demonstrate sufficiency and moderation in one’s individual and family
consumption practices - LS4LC-SC-PSF-AE/JHS-14

 Key Topics and Learning Points 

1. Debt
2. Strategies to get out of debt

 Debt is the amount of money that we owe someone.

 Before getting into debt, we must realize the risks that come with it.
 There are several strategies to avoid debt.

Activity 7: How to Avoid Debt

Objectives:

✓ Describe the concept of debt

✓ Recognize the risks of getting into debt
✓ List strategies on how to avoid debt
✓ Consider the advantages & disadvantages when deciding whether to go into debt

 Recommended Time: 30-40 minutes

Debt is what you owe someone. You could owe them some of your time to help them to
do something. An example is that you could have promised someone that you would

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help him or her to wash clothes or grow food. You then owe them the time to help with
these tasks. You could also owe someone money. This could be because you borrowed
money from them or bought something from them that you must pay back later. The
amount of money that you owe them is the amount of debt that you have.

Not all debt is bad. If you can manage debt well, then you can use it to help you in many
ways. For example, you might go into debt to pay for school, which could then create
excellent professional opportunities in the future. If you take the time to think through
all your financial decisions (expenses and savings), you can avoid getting into too much
debt. And if you choose to borrow money, you can do so carefully. Managing your debt
well is important to being financially fit.

 How do you feel when you owe money to someone? Why? Think of an example of a time
when you owed someone money. How quickly did you pay them back? Why did you
borrow money from that person?

 How do you feel when someone owes you money? Why? Think of an example of when
someone owed you money. How much did that person borrow? How quickly did they
pay you back—if at all?

 7.13: Strategies for Getting Out of Debt

Sometimes, however, even with the best of intentions, people do fall into debt. Here are several
strategies that can help to reduce debt.

Rank these strategies 1-5, with 1 being the easiest to do and 5 being the hardest to do.

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Strategy: Rank (1-5)

Cut back on unnecessary spending.
Do not borrow more money.
Speak to people you owe money to, to work out when you can pay them back.
Pay off any debt where people are charging you extra money (interest) on
what you owe them.
Don’t buy anything else or anything expensive while you have high debt.

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Let’s Apply: Role Play

Find a friend or family member to participate in this role play. For each of the following
scenarios, your partner asks you whether it is a good idea to borrow money. Knowing what
you do about financial fitness, how would you advise that person? After you do the role plays,
write your ideas below.

1. One of my sisters is very clever and wants to go to school to learn more and she needs
money for her studies.

2. I’m having a party and I want to prepare a feast.

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3. I want a cell phone to help me for my small business.

4. I want to sign up for literacy classes to help me to read and write better.

5. I want to buy fruit and vegetables for people I live with to eat today, but I can only pay for
the food later.

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Session 4 – Writing Space

Use this space to complete any of the written assignments above or write any thoughts
or ideas that have come to mind about the topic.

Congratulations! You have completed this session. You may now proceed to the next
session.

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SESSION 5: RECORD-KEEPING AND BUDGETING

Learning Strand 4: Life and Career Skills

Content Standard: Sustainable Consumption
Performance Standard F: Apply working knowledge, attitudes and life skills as a
consumer to promote more sustainable living
Learning Competencies:

12 - Budget - LS4LC-SC-PSF-AE/JHS-12

 Key Topics and Learning Points 

1. Record-keeping
2. Expenses
3. Income
4. Budgeting

 Record‐keeping is a system that helps you to know how much you are earning,
how much you have to spend, and how much you owe.
 Money spent (money out) is called expenses, and money gained (money in) is
called income.
 Budgeting is the process of planning so that what you spend (your expenses) is
less than what you earn (your income).
 You can prepare your own budget each week.

Activity 8: Basic Record-keeping

Objectives:

✓ Understand the difference between Money In (income) and Money Out (expenses)
✓ Prepare and keep basic personal financial records
✓ Do simple analysis and decisions using financial records

 Recommended Time: 40-60 minutes

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“Records” are important documents that can be used as evidence of an activity. When
it comes to financial records, these might include receipts or record books—in other
words, anything that shows when money was received (money in) or money was spent
(money out).

The money we receive is called Money In (income). The money we use or spend is
called Money Out (expenses).

Examples of Money In Examples of Money Out

(Income) (Expenses)
• Money from selling fish, vegetables, or • Money spent on food for the family
chicken • Money spent on transportation
• Money from salary from work • Money spent on clothes, new slippers
(carpentry, washing clothes) • Money spent on school supplies
• Money from driving passenger jeeps or • Money spent on community
tricycles activities/leisure activities
• Money from selling goods at a sari-sari • Money spent on medicines,
store hospitalization of a family member
• Money from allowance given by parents, • Money spent on repairs for house,
sisters, brothers, grandparents, other motorcycle, family vehicle
relatives • Money spent on farm supplies

When you identify the specific amounts for Money In and Money Out, you can then
compute the remaining money (or balance).

Income (money in) – Expenses (money out) = Balance (remaining money you have, that you
can save)

Here’s an example. Imagine that you earned P500 for driving a passenger jeep. The
next day, you had to buy school supplies for P50. What amount of money remains? (In
other words, what is the balance?) Money In (P500) – Money Out (P50) = Remaining
Money (P450)

Your income from your job is P500 and your school supplies expenses were P50. After
the expenses are subtracted from the income, the remaining money, or savings, is
P450.

Here is a review of the important terms, which are often used in business settings:

• Income: Money In

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• Expenses: Money Out

• Balance: Remaining money you have, that you can save

 7.14: Money In and Money Out

Below is list of items that require money. Determine whether the item on the list is “money in”
or “money out” and place the amount on the appropriate column. At the end, compute for the
total of each column, and compute for Remaining Money.

Item Money In Money Out

Example: Jeep (10) 10
Tricycle (50)
Cell phone card (100)
Food (50)
Soft drinks (50)
Medicine (100)
Internet (50)
Gift from your aunt (50)
Money from selling phone cards (400)
Money from selling fruits (100)
Money from job – dress making (200)
Money from sister in Manila (200)
TOTAL
MONEY IN – MONEY OUT = REMAINING MONEY
(BALANCE)

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It may be tempting to try to keep track of your money in and money out in your head.
But it is much better to keep physical records—in other words, to actually record each
time your money goes in or goes out. Here are some of the benefits of record keeping:

• You know exactly how much you have available to spend and how much you are
paying for things.
• You can analyze your habits and spending patterns from the past.
• You can plan for your spending and saving in the future.

 What is the importance of knowing how keep a record of your money? Are there other
benefits that you would add to this list?

Basic Record-keeping
Record keeping does not need to be complicated! The principle you follow is:

Money In – Money Out = Money In My Pocket

Money In My Pocket – Money Owed = Money I Actually Own

Here is an example of a simple record book. Take a look at the headings and how it
relates to the concept of “money in – money out = money in my pocket”.

DATE DESCRIPTION ENTRY EXPENSES BALANCE

(MONEY IN) (MONEY OUT)

TOTAL

Entry (Money in) – Expenses (money out) = Balance (money you have)

Let’s Apply: My Money In and My Money Out

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Now, it’s your turn! List five items on which you have spent or will spend money (Money Out)
and their price. Add the total amount at the bottom of the chart. For example, you might include
the item of “groceries” for the amount of P300.

MONEY OUT (EXPENSES)

Item Amount

TOTAL →

List five ways in which you gain money (money in, or income) and how much. For example, you
might have P1,000 for driving a tricycle around town.

MONEY IN (INCOME)
Item Amount

TOTAL →

Now, we are going to put these lists of money in and money out together. Transfer the items in
each list to the chart that follows. Be sure to place the amount in the appropriate column
(Money In or Money Out). At the end, compute for the total of each column, and compute for
Remaining Money. (Do this with a member of your family.)

DATE:

Item Money In Money Out

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TOTAL
MONEY IN – MONEY OUT = REMAINING MONEY

 Did you end up with Remaining Money?

☐Yes ☐No

If yes, how much? ____________________

If not, what can you do so that you can have Remaining Money next time?

 If you had Remaining Money on your list, what can you do so that you can maintain or
increase Remaining Money next time?

There are many ways to keep records. You can keep them with a pencil and paper or type
them in an electronic file. Be sure to keep them in a safe place that is clearly labeled.

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Reflect on what you have learned so far in the module about savings, financial fitness,
record-keeping, and budgets.
List three of the biggest lessons you have learned so far about financial fitness:

1.

2.

3.

Sharing is Caring

This section encourages you to share your output to family and friends. You worked hard
on this so now it is time to tell others about the task you have just completed. Do it face to
face, via text, chat, or whatever means available and comfortable to you. It is always great
to share your thoughts and hear feedback from people who care ☺.

Be creative and share some of these lessons with your family and friends! You could write a
comic strip, compose a song, write a poem, create a short video or skit, or post something on
social media. You can use the writing space below to sketch out ideas.

Use this space to sketch out ideas of your creative interpretation of financial fitness.

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Describe your creative interpretation. How did your audience respond? Do you think that
they learned something new? Why or why not?

Continue to share what you have learned about Money In and Money Out with family
and friends. Discuss with them the different ways you can help each other keep a
record of income and expenses.

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Activity 9: Personal Budgeting

Objectives:

✓ Understand the concept of basic budgeting

✓ Prepare a basic personal budget

 Recommended Time: 30-40 minutes

A budget is a planning tool that helps you track the money you earn and the money you
spend. Budgeting is the process of planning what you spend so that it is less than what
you earn. The secret to financially fit budgeting is one simple rule: Keep money you plan
to go out less than the money to come in. So Money Out is less than Money In.

A balanced budget means that you are spending money within your available income or
means.

You need to also consider emergency expenses that could substantially affect your
budget, like illness, accidents, death in the family, loss of job or income, and other
unpredictable happenings in life.

 7.15: My Personal Budget

Here is a template for designing your personal budget.

Budget for the following time period: _______________

Income (Money In)

Description/Particulars Amount

Total Income

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Expenses (Money Out)

Description/Particulars Amount

Total Expenses

Remaining Balance for the period

(Total Income – Total Expenses) or Amount that can be saved

Let’s Apply!

Now, you can prepare your own personal budget. To do so, you can visit shops in your area (or
look for prices online) to compare the cost of items. Another good financial fitness habit is
comparing prices to find the best deal!

 7.16: Prices for My Items

1. Write down a list of the things you or your households might spend money on in the
next week and write them on the list below. (Add more rows if it is more than 10
items.)
2. Go to three different shops and get prices for as many items as you can.
3. Write the name of the best price shop in the last column for each item.
4. Consider other factors in determining where to buy an item such as the location of
the shop (Is it convenient? Easy to get to?), your relationship with the store owner
and the quality of the product. Sometimes the lowest price might not mean be the
only consideration. For each item circle which price you will buy it at.
5. Add up all the circled prices to find the total amount you will spend during the week.

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List of 10 things I might Best Price

Price Shop 1 Price Shop 2 Price Shop 3
spend money on this week Shop
1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

Total spending (add those

that you have circled)

 7.17: My Personal Budget

Based on your findings after comparing different prices, plan your budget for the coming week.
Plug in actual income and expenses that you have and place the amounts on the appropriate
column. You may use the information in the previous activity as reference. At the end, compute
for the total of each column, and compute for Remaining Balance. (Do this activity with a
member of your family.)

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Budget for the following time period: _______________

Income (Money In)

Description/Particulars Amount

Total Income

Expenses (Money Out)

Description/Particulars Amount

Total Expenses

Remaining Balance for the period

(Total Income – Total Expenses) or Amount that can be saved

Think about it!

Talk to your family about the last time income and expense. How can you use the record keeping
and personal budget forms as a family? Discuss with them face to face, via text, chat, or
whatever means available and comfortable to you. It’s always great to share your ideas and hear
more points of view ☺

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Session 5 – Writing Space

Use this space to complete any of the written assignments above or write any thoughts
or ideas that have come to mind about the topic.

Congratulations! You have completed this session. You may now proceed to the next session!

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SESSION 6: EXPLORING SAVINGS AND LOANS IN THE PHILIPPINES

Learning Strand 4: Life and Career Skills

Content Standard: Sustainable Consumption
Performance Standard F: Apply working knowledge, attitudes and life skills as a
consumer to promote more sustainable living
Learning Competencies:

12 Manage financial loans and investments - LS4LC-SC-PSF-AE/JHS-12

 Key Topics and Learning Points 

1. Financial institutions
2. Micro-finance
3. Savings Account

 Formal banks, microfinance institutions, and cooperatives provide savings, loans and
insurance products.

Activity 10: Financial Structures and Institutions and Application

Objectives:

✓ Be familiar with several financial institutions in the country

✓ Explore several options of places to save money or obtain a loan in a locality
✓ Learn how to open a savings account with a local bank or cooperative

 Recommended Time: 120-180 minutes

A financial institution is a company that deals with transactions involving finances and
money. An example is a bank. There are several options for places to save money or to
obtain loans in the Philippines. Here are some of the financial institutions you may be
familiar with:

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 Are you familiar with any of these names of financial institutions? Have you ever been to
any of these places before? Do you have an account with any of them?

There are several different types of financial institutions:

Type of Financial Institution Description

Large Banks Provide large loans and savings services to larger
organizations and people who earn a lot of money
Microfinance Institutions Provide smaller loans to smaller organizations and people
who earn less
Cooperatives Provide savings and loans services to low-income people

Savings Groups Provide savings and loans services to low-income people, and
often to those that have not dealt with the financial services
before

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Draw a map of your area that includes any financial institutions. Are they close or far
away? Do you know anyone who has used these institutions? If so, how did they chose
that particular one?

Show the map to a family member or friend. Do they have any places to add?

Draw your community map of financial institutions here:

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Based on your map, list and categorize the financial institutions in your area.

Name of Financial Address Type of Financial Notes

Institution Institution (For example, do I know
someone who belongs to
this financial institution?)

 Write your reflections on the mapping activity here. What did you learn? Did anything
surprise you?

 Microfinance in the Philippines

Earlier you learned about banking options for saving money. Now let’s learn about
microfinance.

Unlike micro-credit, which focuses solely on the provision of loans, microfinance institutions – also
known as MFIs – encompass a complete set of financial and banking services targeting underserved
communities who, due to poverty and stigma, tend to have little access to traditional financial tools.
Microfinance products and services include savings, insurance, and loans.

Examples of financial service providers in the Philippines: (Refer to Background on Savings in the
Philippines for definitions)
• Cooperatives
• Microfinance Institutions
• Banks:
o Land Bank of the Philippines: www.lbp.gov.ph

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o Development Bank of the Philippines: www.dbp.gov.ph

o Philippine National Bank: www.pnb.gov.ph
o Banco de Oro: www.bdo.com

 Opening a Savings Account

Here is an example from a local bank describing their savings accounts. While the
requirements may vary, the basic concept remains the same from bank to bank.

Accessing your account:

• Deposits in an interest-bearing peso savings account can be made over-the-counter in a branch
or through the Cash Deposit Machine (CDM).
• Withdrawals may be done over-the-counter in a branch or at any Bancnet ATMs.
• Cashless purchases may also be done through any Point-of-Sale (POS) terminal of partner
merchants from department stores, supermarkets and accredited establishments bearing the
Bancnet logo.

Who Can Open a Savings Account:

• At least seven (7) years of age
• Able to read and write
• Not suffering from any legal disability
• With credible identification

Minimum Initial Deposit: P500.00

Basic Requirements for Local Residents:

1. Presentation of at least one (1) original valid photo-bearing ID

2. Two (2) recent ID photos
3. Students who are beneficiaries of remittances/fund transfers and are not yet of voting age may
be allowed to present the original school ID duly signed by the Principal or head of the school
and submit a clear photocopy of the same.
4. Whenever necessary, the Branch may accept other IDs, provided that it shall not be the sole
means of identification.
5. In case the identification documents mentioned above or other identification documents
acceptable to the Bank do not bear any photo of the customer or authorized signatory, or the
photo-bearing ID or a photocopy thereof does not clearly show the face of the customer or
authorized signatory, the Branch may utilize own technology to take the photo of the customer
or authorized signatory.
6. Birth certificate of the child in case of parents opening an account in behalf of their child.

Source: https://www.landbank.com/deposits/peso/savings/atm-savings-account

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Let’s Apply: Opening a Savings Account

Now you will open your own savings account! Go to the nearest bank and inquire about opening
a savings account.

• Go to a teller and request for a list of requirements and forms.

• Complete the forms and collect all the required documents.
• Go back to the bank and open a savings account. You may need to do this on another day.

Note: If this activity is not possible, ask a family member or friend who has a bank account about their
experience (specifically, the steps) in opening a bank account.

 What is important about opening and keeping a savings account?

 What challenges did you face in opening a savings account? How did you address them?

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Session 6 – Writing Space

We never stop learning. Based on that, it is helpful to take some time to reflect
and ask ourselves what we learned in this module:

1. How do the skills and other things I learned relate to my daily life?
2. How can the skills and what I learned help me work better?
3. What steps can I take to improve any of the skills or attitudes that I learned more
about?

Use this space to answer these questions and reflect about your ongoing learning.

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Learner’s Reflection: Module 7 Financial Fitness

Remember this? You answered this at the beginning of the module. Answer it again and compare
your results with your previous reflection. Is there a difference?

This is not a test but is a way for us to see what you already know or do not know about the topics.
You will read a skill that is listed in the left column. Think about yourself and your experience. Then
read the statements across the top. Check the column that best represents your situation. The
results will help you and the instructor know which topics may require more time, effort and
guidance.

Ang mga katanungan dito ay hindi test. Ito ay isang paraan upang malaman mo ang iyong
kaalaman, kasanayan o kakayahan tungkol sa paksang ito. Basahin mo ang mga kaalaman,
kasanayan o kakayahan na nakalista sa kaliwang kolum. Magbalik-tanaw sa iyong sarili at mga
karanasan, basahin ang lahat ng mga pangungusap at i-tsek ang sagot na naaangkop sa iyong
sitwasyon. Ang iyong kasagutan ay magiging gabay mo at ng iyong guro sa pagpapalawak ng
iyong kaalaman tungkol sa paksang ito.

1 2 3 4
My experience I don’t have I have very I have some I have a lot of
any little experience experience
Knowledge, skills and abilities experience experience doing this. doing this.
doing this. doing this
Kaalaman, kasanayanat kakayahan Mayroon Marami
Wala akong Kaunting- akong akong
karanasan sa kaunti lamang karanasan sa karanasan sa
paggawa nito ang aking paggawa nito paggawa nito
nalalaman sa
paggawa nito

Identifying ways to access money / Pagtukoy ng

mga paraan para makalikom ng pera
Understanding habits of good money management
/ Maintindihan ang mga mabubuting paraan sa
paghawak ng pera
Using ways to decrease one’s spending /
Pagsasagawa ng mga paraan para mabawasan ang
mga gastusin
Identifying and planning for savings / Pagtukoy ng
mga paraan at pagplano para makapag-ipon.

Understanding debt and ways to avoid getting into

debt / Pagpapalawak ng kaalaman tungkol sa
pangungutang at mga paraan para makaiwas sa
pangungutang

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Module 7: Financial Fitness Learner’s Handbook

1 2 3 4
My experience I don’t have I have very I have some I have a lot of
any little experience experience
Knowledge, skills and abilities experience experience doing this. doing this.
doing this. doing this
Kaalaman, kasanayanat kakayahan Mayroon Marami
Wala akong Kaunting- akong akong
karanasan sa kaunti lamang karanasan sa karanasan sa
paggawa nito ang aking paggawa nito paggawa nito
nalalaman sa
paggawa nito

Keeping a record of one’s money and knowing

which things to keep a record of / Pagtatala ng
aking pera at kaalaman sa mga bagay na dapat
itinatala

Preparing a current budget for one’s self and

knowing what things to list in one’s budget / Pagba-
badyet para sa aking sariling pangangailangan, at
pagtukoy ng mga bagay na aking dapat ilista sa
aking badyet

Knowing which organizations one could go to get

savings and loans services in the Philippines /
Alamin ang mga organisasyon sa inyong lugar na
maaring paglagyan ng perang naipon

End-of-Module Assessment
Congratulations for finishing Module 7: Financial Fitness! At the end of every module you will
take a short assessment to see how much you have learned. It will help you and your instructor
identify the knowledge and skills you know and what still needs reinforcing. The results will not
affect your ability to continue in the program.

Structure of the Assessment: It has a total of 10 questions. Some questions are multiple choice
and some questions are true or false. You should choose only ONE answer for each question.

Once you have finished answering the questions, review the answers found at the end and note
down any questions to ask your instructor.

Module 7: Financial Fitness

Circle an answer for each statement.

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Module 7: Financial Fitness Learner’s Handbook

English Tagalog
1. When you need money, which of the 1. Kapag kailangan mo ng pera, alin ang hindi
following is *not* a good way to get it: magandang paraan para makuha ito:

a. Asking friends or family a. Pagtatanong sa kaibigan o kamag-

b. Working anak
c. Saving b. Pagtatrabaho
d. Stealing c. Pag-iipon
e. Borrowing d. Pagnanakaw
e. Panghihiram

2. The safest place to save your money is: 2. Ang pinakaligtas na puwede mong pagtaguan
ng iyong pera ay:
a. In the bank or savings group
b. With a friend a. Sa isang bangko o paluwagan
c. In a corner of the home b. Sa isang kaibigan
d. Saving is for people who worry too c. Sa isang sulok ng tahanan
much d. Ang pag-iipon ay para lang sa mga
taong mahilig mag-alala

3. You can save money by: 3. Maaari kang makatipid sa:

a. Turning off lights or lamps in the a. Pagpatay ng mga ilaw o lampara sa

house bahay
b. Walking instead of taking a b. Paglalakad kapalit ng pagsakay sa
motorcycle motor
c. Reusing containers to carry other c. Muling paggamit sa mga lalagyan
things para sa ibang bagay
d. Fixing old clothes or shoes d. Pagpapaayos ng mga lumang damit o
e. Using things that people have thrown sapatos
away to make new things e. Paggamit ng mga bagay na itinapon
f. All of the above na ng iba sa paglikha ng mga bagong
bagay
f. Lahat ng nabanggit

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Module 7: Financial Fitness Learner’s Handbook

4. Record-keeping and Budgeting: 4. Nakatutulong ang pagtatala at ang

pagpaplano ng gastusin at kita sa:
a. Help you to look back (to know how
much you are earning, how much you a. Pagbabalik-tanaw (para malaman
have spent, and how much you owe) kung magkano ang kinikita mo,
b. Help you to look forward (planning magkano ang ginagastos mo, at
what you spend so that it is less than magkano pa ang dapat mong
what you earn). bayaran)
c. All of the above b. Pagtingin sa hinaharap (pagpaplano
d. None of the above ng gagastusin para maging mas maliit
ito sa iyong kinikita)
c. Lahat ng nabanggit
d. Wala sa nabanggit

5. I should always spend more money than I 5. Lagi lang dapat akong gumastos ng mas
have because I can just ask others for the malaki sa mayroon ako kasi lagi ko naman
extra money. puwedeng hingiin sa iba ang kailangan pang
pera.
a. True
b. False a. Tama
b. Mali

6. Places where I can save money or get loans 6. Ang mga lugar na puwede kong mapaglagyan
are banks, microfinance institutions, o mautangan ng pera ay mga bangko, mga
cooperative and savings groups. institusyong pang-microfinance, mga
kooperatiba, at paluwagan.
a. True
b. False a. Tama
b. Mali

7. When making a financial plan, I should 7. Kapag gumagawa ng planong pangsalapi,

consider the following questions: kailangan kong pag-isipan ang mga
sumusunod na tanong:
a. How much should I save?
b. What should I spend less money on? a. Magkano ang dapat kong ipunin?
c. How will I earn money? b. Ano ang dapat kong pagkagastusan
d. What should I do to look after myself nang mas maliit?
when I get older and am no longer c. Paano ako kikita ng pera?
working? d. Ano ang dapat kong gawin para
e. All of the above maalagaan ko ang sarili kapag
f. None of the above matanda na ako at hindi na
nagtatrabaho?
e. Lahat ng nabanggit
f. Wala sa nabanggit

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Module 7: Financial Fitness Learner’s Handbook

8. Even if I have a little money, I can start 8. Kahit na kaunti lang ang pera ko, kaya kong
keeping a record of what I have and what I magsimula ng talaan ng mayroon ako at ng
spend it on. pinagkakagastusan ko.

a. True a. Tama
b. False b. Mali

9. To decrease what you owe to others: 9. Para mabawasan ang mga utang mo sa ibang
tao:
a. Do not borrow more money
b. Speak to people you owe money to, a. Huwag nang mangutang pa
to work out when you can pay them b. Kausapin ang mga
back pinagkakautanagan para
c. Pay off any debt where people are magkasundo sa kung kailan mo sila
charging you extra money on what kayang mabayaran
you owe them c. Bayaran ang mga utang na naniningil
d. Do not buy anything else or anything pa ng higit sa utang mo sa kanila
expensive while you still owe a lot of d. Huwag bumili ng ibang bagay o
money anumang mamahaling bagay habang
e. All of the above mayroon ka pang utang
e. Lahat ng nabanggit

10. I need to try to save so that I have money for 10. Kailangan kong mag-ipon para may pera ako
emergencies or unexpected things that will para sa mga emergency o sa mga di-
happen. inaasahang pangyayari.

a. True a. Tama
b. False b. Mali

Congratulations! You have completed the module on Financial Fitness! You are now ready to
conquer the next module on Exploring Entrepreneurship.

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