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    BENEFITS OF FINANCIAL LITERACY - Valencia, Jamaica - BSED1

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    Mae
    The document discusses the benefits of financial literacy. It defines financial literacy as enabling people to achieve a balanced and sustainable lifestyle through understanding and applying financial knowledge and skills. The key benefits outlined are the ability to make better financial decisions, effectively manage money and debt, reach financial goals, reduce expenses, experience less stress, and make more ethical choices. The document also examines the state of financial literacy in the Philippines, finding that most Filipinos do not have formal financial plans and that financial literacy levels are low according to surveys.

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    BENEFITS OF FINANCIAL LITERACY - Valencia, Jamaica - BSED1

    Uploaded by

    Mae
    10 views12 pages
    The document discusses the benefits of financial literacy. It defines financial literacy as enabling people to achieve a balanced and sustainable lifestyle through understanding and applying financial knowledge and skills. The key benefits outlined are the ability to make better financial decisions, effectively manage money and debt, reach financial goals, reduce expenses, experience less stress, and make more ethical choices. The document also examines the state of financial literacy in the Philippines, finding that most Filipinos do not have formal financial plans and that financial literacy levels are low according to surveys.

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    BENEFITS OF FINANCIAL LITERACY_Valencia, Jamaica_BSED1

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    The document discusses the benefits of financial literacy. It defines financial literacy as enabling people to achieve a balanced and sustainable lifestyle through understanding and applying financial knowledge and skills. The key benefits outlined are the ability to make better financial decisions, effectively manage money and debt, reach financial goals, reduce expenses, experience less stress, and make more ethical choices. The document also examines the state of financial literacy in the Philippines, finding that most Filipinos do not have formal financial plans and that financial literacy levels are low according to surveys.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    10 views12 pages

    BENEFITS OF FINANCIAL LITERACY - Valencia, Jamaica - BSED1

    Uploaded by

    Mae
    The document discusses the benefits of financial literacy. It defines financial literacy as enabling people to achieve a balanced and sustainable lifestyle through understanding and applying financial knowledge and skills. The key benefits outlined are the ability to make better financial decisions, effectively manage money and debt, reach financial goals, reduce expenses, experience less stress, and make more ethical choices. The document also examines the state of financial literacy in the Philippines, finding that most Filipinos do not have formal financial plans and that financial literacy levels are low according to surveys.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 12

    BENEFITS OF

    FINANCIAL
    LITERACY
    Prepared By:
    Valencia, Jamaica O.
    BSED-1

    Submitted To: Dra. Meriam Cea


    What is Financial Literacy?

    Financial Literacy enables


    people to understand and apply
    knowledge and skills to achieve
    a lifestyle that is financially
    balanced, sustainable, ethical
    and responsible.
    Five Fundamental Components
    of Financial Literacy

    1. Budgeting
    2. Investing
    3. Borrowing
    4. Taxation
    5. Personal Financial Management
    Listed below are the assortment of benefits
    of being financially literate:
    Ability to make better financial decisions
    Effective management of money and debt
    Greater equipped to reach financial goals
    Reduction of expenses through better regulation
    Less financial stress and anxiety
    Increase in ethical decision-making when
    selecting insurance, loans, investments, and
    using a credit card
    Effective creation of a structured budget
     Increased
    personal
    financial literacy
    affects one’s
    financial behavior. It does not
    totally eliminate the need for a
    social safety net because even the
    most prudent individual can
    encounter financial difficulties.
    FINANCIAL
    LITERACY IN THE
    PHILIPPINES
    Several findings of researches with
    regards to the state of financial literacy
    in the country according to “Go” (2017):
    World bank study in 2014 estimated
    20 million Filipinos saved money
    but only half had bank accounts.
    Asian Development Bank (ADB)
    study in 2015 revealed that PH does
    not have a national strategy for
    financial education and literacy
    In 2016, Bangko Sentral ng
    Pilipinas (BSP) released the
    national strategy for financial
    inclusion, stating that while
    institutions strive to broaden
    financial services, financial literacy
    should also complement such
    initiatives.
    More than 80% of the working
    middle class have no formal
    financial plan.
    As per Standard & Poor’s
    (S&P) ratings services survey
    last year, only 25% of Filipinos
    are financially literate.

    Ten years after the discovery


    of the stock market, still less
    than one percent of Philippine
    population is invested in it.
    Making steps to becoming
    financially literate is an
    important component of
    life that can ensure
    financial solidity, reduce
    anxiety, and stimulate the
    achievement of financial
    goals.
    Being financially literate allows an
    individual to be better prepared for
    specific financial roadblocks, which,
    in turn, decreases the chances of
    personal economic distress.

    Achieving financial literacy is crucial


    in today’s society due to everyday
    facets of life, such as student loans,
    mortgages, credit cards, investments,
    and health insurance.
    That’s all for my Report.
    Thank You!!!

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