Professional Documents
Culture Documents
Business Finance: Quarter 2
Business Finance: Quarter 2
Writer:
LEA M. BANTING
T-II Gutad National High School
Editors:
JANE P. VALENCIA, EdD – Math/
ABM Supervisor CHAIRMAN
ELSA A. LAQUINDANUM – MT- I
CHRISTINA P. SANTOS – MT I
What I Need to Know
This module was designed and written with you in mind. It is here to help you
master the Philosophy and Practices in Personal Finance. The scope of this
module permits it to be used in many different learning situations. The language
used recognizes the diverse vocabulary level of students. The lessons are
arranged to follow the standard sequence of the course. But the order in which
you read them can be changed to correspond with the textbook you are now
using.
1. It is a term that covers managing your money as well as saving and investing.
A. Decision Making C. Personal Finance
B. Financial Goal D. Short Term Goal
10. Practice thrift, but always be looking for Big Wins, best illustrates what principle
of saving?
A. Large amounts matter more C. The perfect is the enemy of good
B. Small amounts matter D. You are the boss of you.
11. Don’t let one slip-up drag you down also means:
A. It’s always best to be proactive C. Saving is the cornerstone of success
B. Failure is okay D. You are the boss of you.
13. To make the most of your income and savings it is important to become:
A. Financial Literate C. Smart
B. Proactive D. All of these
14. Your circumstances might not be your fault, but they're your responsibility, best
illustrate what principle of money management?
A. Large amounts matter more C. The perfect is the enemy of good
B. Small amounts matter D. You are the boss of you.
15. What concept is best explained by the statement, “Trust that you'll pick up
momentum in the future”.
A. Action is the cornerstone of success C. The perfect is the enemy of good
B. Large amounts matter more D. You are the boss of you.
Lesson
Money Management Philosophy
1
The Piggy Bank is the perfect symbol for personal finance in your early years. Not
buying that new toy until you've saved up enough money is a lesson that everyone
should learn. But, does this lesson stick? Learning to prioritize is an essential part of
good money management. You should try to align your financial priorities with your
core values. You will need to set and adjust your priorities as you pass through different
phases of life (child, student, single adult, married adult, parent, empty-nester, and
retiree).
What’s In
Think of the various types of investments as tools that can help you achieve your
financial goals. Each investment type has its own general sets of features, risk factors
and ways in which they can be used by investors. Look for the types of investments in
the puzzle below. Write your answers on a separate sheet.
N I I G N S L A I
A N N U I T I E S
S S T U M D K T A
R U O I X F O S V
C R U P C C H D I
T A G J K M G F N
T N H S F N K G G
O C D K G B M B S
S E H S D N O B Z
1.________________________ 4. _________________________
2.________________________ 5. _________________________
3._______________________
Notes to the Teacher
The teacher must take into considerations the
essential skills needed in the development of this
competency including the background knowledge which
may reinforce learning. This module will help the learners
link the gap of learning to achieve mastery of the lesson.
What’s New
List five(5) items or activities in the center column that you plan to have or to do soon.
Go back and look at each listed item or activity that takes money. Put a check mark in
the NEED or WANT column. Write your answers on a separate sheet.
_________________________________________________________________________________
What is It
In our society, we are bombarded daily with advertisements telling us we need the
products being advertised. As a result, many people have trouble distinguishing between
needs and wants. NEEDS are basic for your survival. WANTS are desirable to make your
life more comfortable. Money management involves managing all your resources to
achieve your goals and objectives. Your time, talents and money are some of those
resources. Knowing the differences between your needs and wants will help you manage
your money better.
Once you've established some fundamental procedures, you can start thinking about
philosophy. The key to getting your finances on the right track isn't about learning a
new set of skills. Rather, it's about learning that the principles that contribute to success
in business and your career work just as well in personal money management. The three
key principles are prioritization, assessment, and restraint.
Here are some personal finance principles from Money Boss website.
☺ You are the boss of you. Your circumstances might not be your fault, but
they're your responsibility.
☺ Nobody cares more about your money than you do. The advice that others
give you is almost always in their best interest, which may or may not be the
same as your best interest.
☺ It's always best to be proactive. In life, there are often default options. If you
don't consciously and deliberately choose something different, you get the
default.
☺ Saving must be a priority. Most financial gurus recommend saving 10% or
20% of your income.
☺ Small amounts matter. Frugality is an important part of personal finance.
☺ Large amounts matter more. Practice thrift, but always be looking for Big
Wins.
☺ Slow and steady wins the race. The most successful folks are those who work
longest and hardest at things they love to do.
☺ The perfect is the enemy of the good. Don't worry about getting things
exactly right — just choose a good option and do something to get started.
☺ Action is the cornerstone of success. Get moving. Trust that you'll pick up
momentum in the future.
☺ Failure is okay. Don't let one slip-up drag you down.
☺ Smart money management is more about mindset than it is about
math. Financial success comes when you master the mental game of money.
☺ You can have anything you want — but you can't have everything you
want.
☺ Financial balance lets you enjoy tomorrow and today. You don't have to
choose between spending today and saving for tomorrow. You can do both.
☺ It's more important to be happy than it is to be rich. Don't be obsessed with
money — it won't buy you happine
What’s More
CREDIT CROSSROADS
Review the credit scenario below and determine the positive and negative impact the
decision may have on the person’s financial future.
Savanah has heard that opening a lot of credit card accounts is a good way to build
credit. She currently has five credit cards, but is sometimes forgetful in paying her bills
on time and usually has a balance on each card. Her favorite store is offering P 500
coupon on her next purchase, with the promise of more coupons in the future, if she
opens a credit card. She decides to open the store credit card to get the discounts.
Is this a good or bad debt move? Why? (Use a separate sheet of paper for your
response).
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
FUTURE SPENDING
What will your life look like 5, 25, and 50 years from now? Fill in the box corresponding
to the questions below. Use a separate sheet of paper.
Multiple Choice: Read each statement carefully. Write only the letter of the correct
answer in your answer sheet.
1. It is a term that covers managing your money as well as saving and investing.
A. Decision Making C. Personal Finance
B. Financial Goal D. Short Term Goal
10. Practice thrift, but always be looking for Big Wins, best illustrates what principle
of saving?
A. Large amounts matter more C. The perfect is the enemy of good
B. Small amounts matter D. You are the boss of you.
11. Don’t let one slip-up drag you down also means:
A. It’s always best to be proactive C. Saving is the cornerstone of success
B. Failure is okay D. You are the boss of you.
13. To make the most of your income and savings it is important to become:
A. Financial Literate C. Smart
B. Proactive D. All of these
14. Your circumstances might not be your fault, but they're your responsibility, best
illustrate what principle of money management?
A. Large amounts matter more C. The perfect is the enemy of good
B. Small amounts matter D. You are the boss of you.
15. What concept is best explained by the statement, “Trust that you'll pick up
momentum in the future”.
A. Action is the cornerstone of success C. The perfect is the enemy of good
B. Large amounts matter more D. You are the boss of you.
Additional Activities
Direction: View a future version of you using an online tool or mobile app such as Aging
Booth or Face App. If individual imagine what they look like when they are older, they
are more likely to save for the future.
Answer Key
15. A
14. D
13. D
12. A
11. B
Until next time
10. A
9. B
8. B
7. A ANNUITIES
6. C BONDS
5. A INSURANCE
4. D SAVINGS
3. B STOCKS
2. D
1. C the Puzzle
PRE test & POST test Types of Investment in
References:
https://www.investopedia.com/terms/p/personalfinance.asp
https://www.practicalmoneyskills.com/teach/lesson_plans/grades_9_12
https://observer.com/2016/12/philosophy-of-personal-finance-101-successful-planning/
https://www.coursehero.com/file/47774721/Chapter-7-Managing-Personal-Finance-1pptx/
https://www.pdfdrive.com/search?q=philosophy+and+practices+in+personal+finance&pagecount=&pu
byear=&searchin=&em=&more=true
https://riverdaletax.com/?page_id=11
https://www.quicken.com/10-basic-principles-financial-management
https://www.vertex42.com/blog/money/principles-of-personal-finance.html
Development Team of the Module
Management Team