ALFORNON
ALFORNON
ALFORNON
COMPILATIONS OF
THE
REPORTS
Submitted to:
Dr. Irene E. Malate
Instructor
Submitted by:
Alfornon, Geraldine D.
BEED-3A
Pili Capital College Inc.
San Isidro, Pili, Camarines Sur
College of Teacher Education
The 21st century learning skills are often called the 4C’s: Critical Thinking, creative thinking,
communicating, and collaborating. These skills help students learn, and so they are vital to success in
school and beyond.
1. CRITICAL THINKING
• Involves logical thinking and reasoning including skills such as comparison, classification,
sequencing, cause/effect, patterning, webbing, analogies, deductive and inductive reasoning,
forecasting, planning, hypothesizing, and critiquing.
• Empowers students to discover the truth in assertions especially when it comes to separating act
from opinion.
• Students don’t just learn a set of facts or figures. Instead, they learn how to discover the facts
and figures for themselves.
• “Asking questions” might be the most important part of critical thinking. By simply asking “why?”
in everyday life, this skill prepares students for a life of independence and purposeful thought.
Solve Problems
Solve different kinds of non- familiar problems in both conventional and innovative ways
Identify and ask significant questions that clarify various points of view and lead to better
solutions
2. CREATIVITY
• Creativity is often treated like a you-have it-or-you-don’t quality, students can learn how to be
creative by solving problems, creating systems, or just trying something they haven’t tried
before.
• Creativity allows students to embrace their inner strengths from big-picture planning to
meticulous organization.
• The point of creativity is to encourage students to think differently than convention demands.
To become creative, students must learn to:
Think Creatively
Create new and worthwhile ideas (both incremental and radical concepts)
Elaborate, refine, analyze and evaluate their own ideas in order to improve and maximize
creative efforts
Be open and responsive to new and diverse perspectives; incorporate group input and feedback
into the work
Demonstrate originality and inventiveness in work and understand the real-world limits to
adopting new ideas
View failure as an opportunity to learn; understand that creativity and innovation is a long-term,
cyclical process of small successes and frequent mistakes
Implement Innovations
Act on creative ideas to make a tangible and useful contribution to the field in which the
innovation will occur
3. COLLABORATION
• Practicing collaboration and teamwork helps students understand how to address a problem,
pitch solutions, and decide the best course of action.
• As students practice collaboration more and more, they’ll learn that they have almost none of
the same ideas that others do. This can affect students in one of two ways. First, it could
discourage them since nobody seems to agree with them that often. Second, it could embolden
them because they realize they’re bringing something unique to every question.
Demonstrate the ability to work effectively and respectfully with diverse teams
Assume shared responsibility for collaborative work, and value the individual contributions made
by each team member
4. COMMUNICATION
• Communication if often taken for granted in today’s society. After all, if you say something, that
means you conveyed an idea, right? Not exactly. In the age of text-based communications- SMS,
emails, social media, etc.
• This includes minimizing tangents, speaking directly to an idea, and checking other participants
to make sure they’re engaged.
To build strong communication skills, students need to:
Articulate thoughts and ideas effectively using oral, written and nonverbal communication skills
in a variety of forms and contexts
Listen effectively to decipher meaning, including knowledge, values, attitudes and intentions
Use communication for a range of purposes (e.g. to inform, instruct, motivate and persuade)
Utilize multiple media and technologies, and know how to judge their effectiveness a priori as
well as assess their impact
B. LITERACY SKILLS
Literacy skills help students gain knowledge through reading as well as using media and technology.
These skills also help students create knowledge through writing as well as developing media and
technology.
• Information Literacy
• Media Literacy
• Technology Literacy
1) INFORMATION LITERACY
is the ability to find, evaluate, organize, use, and communicate information in all its various
formats, most notably in situations requiring decision making, problem solving, or the acquisition of
knowledge.
SKILLS
2) MEDIA LITERACY
• Media literacy builds an understanding of the role of media in society as well as essential skills of
inquiry and self-expression necessary for citizens of a democracy.
SKILLS
• Analyze Media
• Creativity
3) TECHNOLOGY LITERACY
• Technological literacy is related to digital literacy in that when an individual is proficient in using
computers and other digital devices to access the Internet, digital literacy gives them the ability
to use the Internet to discover, review, evaluate, create, and use information via various digital
platforms, such as web browsers, databases, online journals, magazines, newspapers, blogs, and
social media sites.
SKILLS
• Global competence is the capacity to examine local, global and intercultural issues, to
understand and appreciate the perspectives and world views of others, to engage in open,
appropriate and effective interactions with people from different cultures, and to act for
collective well-being and sustainable development.
Background
• Recognizing the unique roles that schools play in preparing our youth to participate in our world,
PISA has developed a framework to explain, to foster, and to assess adolescents’ global
competence. The framework is designed as a tool for policy makers, leaders, and teachers
interested in nurturing global competence among young people worldwide.
Schools play a crucial role in helping young people to develop global competence by:
• teaching students how they can develop a fact-based and critical worldview of today;
• equipping students with the means to analyze a broad range of cultural practices and meanings;
• Multiculturalism Multicultural Literacy brings attention to diversity, equity and social justice to
foster cultural awareness by addressing difficult issues like discrimination and oppression
towards other ethnicities (Boutte, 2008).
• According to Boutte (2008), education for multicultural literacy should help students to develop
the 21st century skills and attitudes that are needed to become active citizens who will work
towards achieving social justice within our communities.
• Because of the growing racial, language and ethnic diversity in our country, Multicultural Literacy
needs to be transformed in substantial ways to prepare students to function effectively in the
21st Century (Boutte, 2008).
• By making small changes within the classrooms, it can create big changes globally (Boutte, 2008).
As diversity grows, there is a need for the emergence of multicultural education that is more
representative of the students in today’s classrooms.
• By teaching students to be advocates for multiculturalism, we are also sending a message of
empathy and tolerance in schools as a need to develop deeper understanding of others and
appreciation of different cultures (Banks, 2003).
• With this being said, in order for students to develop these attitudes and skills, it requires basic
knowledge prior to teaching students how to question assumptions about cultural knowledge
and how to critique and critically think about these important cultural issues, which is what
essentially makes Multicultural Literacy a 21st Century Literacy (Banks, 2003).
According to the Ontario Ministry of Education (2015), a global citizen should display most or all of the
following characteristics:
• Respect for humans no matter their race, gender, religion or political perspectives
• Appreciate the natural world and demonstrate respectful towards the rights of all living things
• Every classroom contains students of different race, religion, and cultural groups. Students
embrace diverse behaviors, cultural values, patterns of practice, and communication. Yet they all
share one commonality: their educational opportunity (Guo, 2014).
• Teachers should teach their students that other cultures exist and that these deserve to be
acknowledged and respected. Integrating a variety of cultural context into lessons and activities,
teaches students to view the world from many angles, creates a respect for diversity and enables
students to learn exciting information. As classrooms become increasingly more diverse, it is
important for educators to acknowledge and address diversity issues and to integrate
multiculturalism information into the classroom curriculum (Guo, 2014).
• References:
• https://www.oecd.org/pisa/pisa-2018-global-competence.htm
• https://21stcenturyliteracy214.wordpress.com/test-2/
C. Life Skills
Life skills are abilities for adaptive and positive behavior that enable humans to deal effectively with the
challenges of life. Also known as FLIPS—Flexibility, Leadership, Initiative, Productivity, and Social Skills.
> Students needs to learn to quickly analyze what is going on around them and make adjustments on the
fly—all the while keeping their goals at the forefront of their minds.
> Flexibility is crucial to a student’s long-term success in a career. Knowing when to change, how to
change, and how to react to change is a skill that’ll pay dividends for someone’s entire life.
> Leadership is someone’s penchant for setting goals, walking a team through the steps required, and
achieving those goals collaboratively.
> Leadership skills can involve taking initiative, solving problems and learning to be responsible for
outcomes.
> Leadership skills help encourage and organize others to reach a shared goal.
> Leadership is not just one skill but a combination of several different skills.
Initiative
> Students need to learn how to set goals for themselves, plan how they will reach their goals, and enact
their plans. Once students feel comfortable with charting their own course, they will readily launch into
activity.
> By teaching students the inquiry process, you equip them to take initiative. Students take the initiative
when they
◆ question,
◆ plan,
◆ research,
◆ create,
◆ improve, and
◆ present.
Productivity
> Along with initiative, 21st Century skills require students to learn about productivity. That’s a student’s
ability to complete work in an appropriate amount of time.
> Productivity helps people and groups more efficiently and effectively manage their time, complete
their tasks and accomplish their goals.
By using the inquiry process and developing projects, students learn the habits of productivity:
● Goal setting
● Planning
● Time management
● Research
● Development
● Evaluation
● Revision
● Application
Social Skills
> Human being has always been social creatures, connecting to and depending on a tribe of some
hundred others.
> Technology now allows people to belong to multiple tribes—students at the same school, friends on
Facebook, fans on fan sites, gamers on massively multiplayer online games.
> The best way for students to develop social skills is to collaborate with others. When students work
together on a project, they have common goals and interests, they are required to develop social skills
such as these:
● cooperation
● decision making
● communicating
Global Literacy
● It brings awareness of the possibilities and constraints facing the world’s people.
● Students who are globally literate are able to think critically about the world and the role that
they play in it.
● These students have an understanding of and appreciation for the different cultures, customs,
systems and relationships that exist throughout the world.
● Globally literate students are empowered to affect positive change in the world.
● collaboration
● an understanding of the skills and technologies that are necessary for life in the 21st century
● the ability for students to become advocates for themselves and their city/state/country
Multicultural Literacy
● multicultural literacy is the knowledge and skills necessary to ensure that any communication
with a culture different from our own is clear, productive, and respectful such that their
differences are celebrated and neither culture is demeaned or treated as inferior.
● It is important to realize that, a “different culture” is not just limited to “someone from another
country,” but could also include someone whose gender, economic background, religious beliefs,
sexual orientation, or even sense of fashion is different from our own.
● Multicultural Literacy brings attention to diversity, equity and social justice to foster cultural
awareness by addressing difficult issues like discrimination and oppression towards other
ethnicities.
● To facilitate acquisition of the attitudes, skills, and knowledge to function in various cultures.
equity.
References:
https://www.icevonline.com/blog/what-are-21st-century-skills
https://k12.thoughtfullearning.com/FAQ/what-are-life-skills
https://www.jamestown.k12.nd.us/about/global-literacy#:~:text=What%20is%20Global%20Literacy
%3F,that%20they%20play%20in%20it.
https://www.coursehero.com/file/p4gc1b3l/We-define-multicultural-literacy-here-as-the-knowledge-
and-skills-necessary-to/
https://www.scribd.com/presentation/427516503/Multicultural-Literacy-Final#:~:text=LITERACY
%3F,from%20diverse%20ethnic%20and%20cultural
Unit4:
4B. Social Literacy
4C. Media Literacy
Social Literacy is the development of social skills to interact positively in a defined environment.
It is the student’s ability to connect effectively with those around them. Social literacy spans
across interacting with peers, family, co-workers, teachers, and even people we may not have
met face to face.
Social literacy is so crucial in a person’ success. The ability to communicate and voice opinions
and thoughts, as well as listening to opinions and thoughts of others, is essential in learning.
Social Literacy
2. Emotional Intelligence
3. People Skills
Social cognition refers to the unique processes that enable human beings to interpret social
information and behave appropriately in a social environment.
Social cognition is the way in which people process, remember, and use information in social
contexts to explain and predict their own behavior and that of others.
The processes involved in perceiving other people and how we come to know about the people
in the world around us.
The study of the mental processes that are involved in perceiving, remembering, thinking about,
and attending to the other people in our social world.
The reasons we attend to certain information about the social world, how this information is
stored in memory, and how it is then used to interact with other people.
What are social skills
Social skills are the skills we use to communicate and interact with each other, both verbally and non-
verbally, through gestures, body language and our personal appearance.
Social skills concerned itself with the development of social skills, knowledge, and positive
human values that enable human beings to act positively and responsibly in range of complex
social settings.
It is the knowledge of how to behave and treat other people in a way that is morally upright,
just, and equitable, with a view of promoting positive and productive relations that are free from
unfair prejudices, hate, and discrimination.
Morally Upright -thoughts, speech, actions, and motivations that adhere to a standard of right and
wrong
Just - speech, actions, and behaviors that are in-line with a fixed standard of justice
Equitable
- speech, actions, behaviors, and decisions that treat other fairly, regardless of background or
circumstances
1. Greeting
2. Initiating Conversation
4. Empathizing
6. Previewing or Planning
7. Apologizing
Greeting
• Children develop relationship with peers by interacting with them. The first step in social
interaction is greeting someone.
• It can be observed through words like “hi”, “hello”, or “How are you?”, facial expression, tone of
voice, and gestures.
Initiating Conversation
In order to initiate conversation, a child must be able to initiate, maintain and close conversation
appropriately.
It requires good listening and attention skills, ability to take turns, and probe for missing
information.
Impulsive children have trouble knowing when to talk and when to listen.
A socially adept child quickly and unconsciously identifies and categorizes his listeners, measures
what he or she has planned to say against the anticipated response of the listener, and then
proceeds.
Empathizing
Empathy is more than perspective taking, it means that one is able to feel what the other person
feels.
It allows one to really connect with other people, other children often think of children who lack
empathy as mean, unkind, or self-centered.
Cues are the hints and signals that guide us to the next thing to say or do.
Previewing or Planning
Conversation also require that one previews or thinks about what effect the words or actions
may have on the listener before she says or does them.
If the impact will be negative, one can adjust what she might say or do.
Apologizing
Everyone makes social mistakes at one time or another. A person with good social skills is
confident enough to make a sincere apology for his or her error.
Apologizing is a sign of humble and mature character where one commits mistakes.
1. Effective communication
It is the ability to communicate effectively and share thoughts and ideas with students through
group conversations, discussions, etc.
2. Conflict resolution
It is the ability to get to the source of the problem and find a workable solution by weighing both
sides from those involved with the goal of mediating for reconciliation.
3. Active listening
It is the ability to pay close attention to a student in times of counseling, introspection and
consultation.
4. Empathy
It is the ability to understand and identify the feelings of students in times of difficulty and
trouble.
5. Relationship management
It is the ability to maintain relationship and build key connection with school stakeholders for the
student’s development.
6. Respect
It can be done by knowing when to initiate communication and respond during interactions or
even in times of heated arguments and confrontations.
7. Problem-solving skills
These involve seeking help, making effective decisions and accepting consequences to derive
better solutions to the problem.
8. Interpersonal skills
These include the abilities of sharing, joining activities, asking for permission and waiting for
one’s turn in every facet of school undertakings.
Emotional intelligence is a person’s ability to understand their own emotions, the emotions of
others, and to act appropriately using these emotions.
According to Salovey and Mayer, emotional intelligence is a form of social intelligence that
involves the ability to monitor one’s own and others’ feelings and emotions, to discriminate
among them, and to use this information to guide one’s thinking and action.
Goleman defines emotional intelligence as the capacity for recognizing our own feelings and
those of others, for motivating ourselves, and for managing emotions well in ourselves and in
our relationship.
1. Self-Awareness
2. Self-regulation
3. Self-motivation
4. Empathy
5. Social Skills
Self-Awareness
Self-awareness is about knowing what we are feeling in the moment, and using those preference to
guide our decision making, realistic assessment, and self-confidence.
Components:
Self-regulation
Handling our emotions so they facilitate rather than interfere with the task at hand.
Being conscientious and delaying gratification to pursue goals recovering well from emotional
distress.
Components:
4. Innovativeness - being comfortable with and open to new ideas and information
Self-Motivation
Using our deepest preferences to make and guide us toward our goals, to help us take initiative
and strike to improve, and to persevere in the face of setbacks and frustrations.
Components:
1. Achievement drive - striving to improve or meet a standard
Empathy
Seeing what people are feeling, being able to take their perspective and cultivating rapport and
attunement with a broad diversity of people.
Components:
2. Developing others - sensing what others needs in order to develop, and bolstering their abilities
Social Skills
Components:
A person has to be sensitive to one’s and other feelings to come up with the right manner of
approach or appropriate response.
2. Pause
This is about taking a moment to stop and think before doing anything to refrain from resorting
to an unsound decision at the height of anger.
This is controlling the reaction to emotions by focusing on one’s thoughts in harmony with goals
and values.
Criticism, even not delivered in a favorable way, is an opportunity to learn and it give idea on
how others think about you.
5. Show authenticity
This is saying what we mean with what we say and we have to stick on to our values and
principles.
6. Demonstrate empathy
Whenever we show empathy to others, such as understanding their thoughts and feelings, we
can easily establish a connection with them.
7. Praise others
This is by way of acknowledging and appreciating others toward attaining self-fulfillment and
building trust.
Although negative feedback may hurt one’s feelings, at some point, it can be turned constructive
for one’s improvement.
9. Apologize
Saying sorry demonstrates humility, a quality that will naturally win others as you value the
relationship more than the ego.
Forgiving and forgetting prevent others from holding emotions and allowing one to move
forward.
Emotional intelligence can be enhanced in school with the help of the following tools and strategies.
1. Emotional Literacy Workshop - this will help teachers to communicate with students
recognize and manage emotions and increase self-awareness
2. Emotional Literacy Museum - it is a self-directed learning experience that teaches about the
physiology of emotions, emotional regulation, and emotional literacy
3. Mixed Emotions Cards - it is a beautiful deck of ‘’tarot-like’’ cards of feeling (labeled with feelings and
synonyms)
4. Emotion Cards - it is an evocative, playful moon face illustration of emotions (open-ended without
labels)
7. Feeling Faces - these are photos of real people and data about how survey respondents evaluated
each picture
8. Six Seconds Emotional Intelligence Assessment - it provides feedback about the way one uses EQ and
how to improve in this area
9. The Zoo: Animal Workshop - it is an activity that intends to imitate an animal behavior and gesture
that ends with reflection and group sharing
10. Face Workshop - it is an activity, in which partners face each other while showing
different facial expressions and qualities that ends with reflections
Like emotional intelligence and social skills, people skills have been widely used in
demonstrating social literacy at home, in school or anywhere that a person may be.
According to Wikipedia, people skills are patterns of behavior and behavioral interactions.
For Thompson (2009), this is an area of exploration about how a person behaves and how
he/she is perceived irrespective of his/her thinking and feeling.
Honey (2001) defines it as the dynamics between personal ecology (cognitive, affective,
physical and spiritual dimensions) and its function with other people’s personality styles in
numerous environments (life events, institutions, challenges, etc.).
On the other hand, people skills are tools used to communicate and interact effectively with
others. Therefore, individuals with strong people skills are able to predict behavior, relate to
others and socialize easily.
3. Ability to build sincerity and trust, moderate behaviors (less impulsive) and enhance
agreeableness
McQuerrey (2019) presents the following strategies in maintaining good people skills which are essential
in a meaningful, joyful and purpose-driven life that teachers also need to know.
Strong people skills in the communication area include the ability to take in information, clarify
comments and participate in effective verbal and written exchanges.
Having the ability to mediate disputes and resolve conflict among others is an important
personal and professional skill. Hence, conflict resolution involves the ability to clarify a specific
dispute, listen to perspectives in a non-judgmental manner and offer suggestions for action.
Patience is an exceptional people skill that is valuable in every profession. It involves being able
to maintain an even temper, repeat and explain information as necessary and control anger in
even the most trying situations.
Having tolerance and understanding for the differences of others leads to success. Tolerant
people have the ability to accept differences, even when they don’t personally agree with them.
1. acceptance
2. appreciation
3. approval
4. admiration
5. attention
Social assertiveness is essential for conserving social energy in the right ways. People with high
social assertiveness have more focused social energy and more clarity in their
interactions.
2. Crafting a memorable presence
People with great presence take it easy in making connections and are extremely good at
rapport building. Those with a strong presence can attract others, are well-
remembered and are likable.
3. Mastering communication
This is knowing how to present one’s self and, in turn, gets one’s message across.
People, who can sustain lasting confidence are able to conquer their shyness, avoid
awkwardness and get through their anxiety of overcome any nervous tendencies.
Likability is an important facet of thrust by through being authentic or genuine with their true
selves.
People, who are good at reading people, are exceptionally strong at knowing how others think
and feel.
8. Pitching ideas
Pitching is a very important people skill because it happens all the time when one is asked for
his/her opinion in introducing himself/herself
9. Being charismatic
Charisma is the perfect blend of two essential people skills traits such as warmth and
competence.
Leader in both personal, social and professional life are able to gain camaraderie.
Lynch (2018) coined in term “media” that refers to all electronic or digital means and print or
artistic visuals used to transmit messages through reading (print media), seeing (visual media),
hearing (audio media), or changing and playing with (interactive media), or some combination of
each.
Media can be a component of active learning strategies, such as group discussion or case studies
(Mateer and Ghent)
Media Literacy is the ability to access, analyze, evaluate, and create media.
The Ontario Ministry of Education (1989) stressed that media literacy means helping students
develop an informed and critical understanding of the nature of mass media, the techniques
used, and their impact.
Media and Information Literacy (MIL) is a “combination of knowledge, attitudes, skills, and
practices required to access, analyses, evaluate, use, produce, and communicate information
and knowledge in creative, legal and ethical ways that respect human rights” (Moscow
Declaration on Media and Information Literacy, 2012).
The United Nations Educational, Scientific, and Cultural Organization (UNESCO) defines it as the
"set of competencies to search, critically evaluate, use and contribute information and media
content wisely; knowledge of one’s rights online; understanding how to combat online hate
speech and cyberbullying; understanding of the ethical issues surrounding the access and use of
information; and engage with media and ICTs to promote equality, free expression,
intercultural/interreligious dialogue, peace, etc." (UNESCO, 2016).
Shapiro and Hughes (1996) identified the seven dimensions of Media Information Literacy.
1. Tool Literacy
2. Resources Literacy
3. Social-Structural Literacy
4. Research Literacy
5. Publishing Literacy
7. Critical Literacy
1. Tool Literacy
This is the ability to understand and use practical and conceptual tools of current information
technology, including software, hardware, and multimedia that are relevant to education and the
areas of work and professional life.
2. Resources Literacy
This is the ability to understand the form format, location, and access methods of information
resources.
3. Social-Structural Literacy
This is knowing how information is socially situated and produced, fits into the life of groups
about the institutions and social networks.
4. Research Literacy
It is the ability to understand and use it, based tools relevant to the work of researchers and
scholars that include computer software for quantitative analysis, qualitative analysis, and
simulation.
5. Publishing Literacy
It is the ability to format and publish research and ideas electronically, in textual and multimedia
forms.
It is the ability to adapt, to understand, to evaluate, and use emerging innovations in information
technology.
7. Critical Literacy
It is the ability to evaluate critically the intellectual human and social strengths and weaknesses,
potentials and limits, benefits and costs of information technologies.
Advantages and Disadvantages of Media and Information Literacy
Advantages
It educates people on health matters, environment, conversation, and others through various
forms.
People get the latest world news in a very short time regardless of distance.
People can bring out their hidden talents in the multimedia and visual arts, comedy, acting,
dancing, and singing.
Media increase knowledge learned from quiz programs educational shows and other
information -giving programs.
Television allows electronic duplication of information that reduces mass education costing.
They help people around the world, understand each other, and respect differences.
Disadvantages
The increase in advertisements in television and radio makes them less attractive.
The internet can be a possible way for scams, frauds, and hacking.
They can ruin reputation through an anonymous account, malicious scandals, false accusations,
and rumors.
Lynch (2018) presents six ways to integrate media literacy into the classroom for student to
become media literate while making media education a meaningful and integrated part of
classroom practice.
Teachers should provide students with reliable and safe media sources and trustworthy content.
Purposely point out to students’ examples of media altering photographs or stones while
teaching them to be critical of what they see, or read at face value.
Let students identify what advertisement are trying to sell and what promises or ideas are they
using to convince them to buy the product.
Let students create media appropriate to their levels such as presentations, videos, and
websites.
References
• https://www.slideshare.net/GREESHMAPR/emotional-intelligence-108550212
• https://www.slideshare.net/gihanaboueleish/emotional-intelligence-33547110
• https://www.slideshare.net/GREESHMAPR/emotional-intelligence-108550212
Financial Literacy
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.
Setting short-term and mid-term and long-term goals financial goals is important step becoming
financially secured.
These are your immediate expenses. Although timelines vary, these are the things you’ll spend
money on generally within a few months or year.
For example:
Emergency fund, Payment toward rent, insurance, or student loans, Personal goods, Travel, Minor
repairs, School expenses, Transportation expenses
There is often overlap between the two categories that can make things fuzzy. Medium or Mid-
term goals fall between short and long-term goals and tend to take a few years to achieve.
For example:
Buying a car, saving for a down payment, and paying off debt.
LONG-TERM FINANCIAL GOALS
Long-term financial goals are usually big picture costs. These goals may take several years or
even decades to reach. Your distant goals typically involve more money and regular attention than
short-term goals.
For example:
Retirement fund, paying off a mortgage, starting a business, and saving for child’s college tuition.
BUDGETING
Is a financial planning tool that allows you to plan how much you will spend or save each month.
It also allows you to track your spending habits.
4. Make a plan
6. SPENDING - to pay out, disburse, or expend; dispose of (money, wealth, resources, etc.)
7. INVESTING - is the act of allocating resources, usually money, with the expectation of generating
an income or profit
8. INVESTTING - investment is putting your money into an asset that can grow in value or produce
income or both.
SAVINGS
Is a basic type of bank account that allows you to deposit money, keep it safe, and withdraw
funds, all while earning interest.
o Basic Savings Account- also known as a Passbook Savings Account, these accounts are a good
introduction to earning interest and saving money. Transactions on a basic savings account are updated
either in a passbook when then customer visits their financial institution, or on a statement issued
periodically (often monthly).
o Online Savings Accounts - these savings accounts may offer access to view, deposit, and transfer funds
online 24/7, and withdraw money from an ATM anytime depending on the type of online savings
account you set up. They may be accessible from any mobile device, including a tablet or smartphone.
BANKING
Is an industry that handles cash, credit, and other financial transactions, it provides a safe place
to store extra cash and credit.
FINANCIAL SCAMS
Financial scams happens when someone deprives you of your money, capital, or otherwise harms your
financial health through deceptive, misleading, or other illegal practices.
INSURANCE
TYPES OF INSURANCE:
o LIFE INSURANCE- the greatest benefits of life insurance include the ability to cover your funeral
expenses and provide for those you leave behind.
o HEALTH INSURANCE- health insurance is a type of insurance coverage that typically pays for
medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured.
TAXES
o PROPERTY TAXES- property taxes are charged on land and buildings as well as tangible personal
property like vehicles and equipment. Property Taxes are the largest source of revenue for cities
and states and are used to fund schools, roads, police, firefighters and other services.
o INCOME TAXES- are imposed on the total financial income of an individual, such as wages,
investment, and salaries. Most income taxes increase with the rise in the tax payers’ earnings.
This means that higher-income earners pay more taxes than low-earners.
o MAKE YOUR FINANCES PERSONAL- making your finances personal means focusing on your
situation and not worrying about anyone else’s situation
o EARN INCOME BY DOING SOMETHING YOU ENJOY- So, if you’re thinking about financial stability,
the best place to start is with a job that pays you a steady income. Even better is to find a job
that you enjoy.
o LIVE BELOW YOUR MEANS- Living below your means works in tandem with budgeting. Your
budget tells you how much money you have and can spend each month. Then you can work with
that number to make sure you don’t overspend.
o PAY OFF YOUR DEBT- Debt will always make it difficult to reach financial stability.
o MAKE SURE TO HAVE SOME FUN- Don’t get so focused on your money that you forget to live.
Enjoying your life will help to keep you happy and healthy.
Reference
https://corporatefinancceinstitute.com
https://www.investoppedia.com
https://en.m.wikipedia.org