What are some of the financial institutions in your community?

If you have
some funds, in which financial institution(s) would you likely put your money
and why?

According to Anderson 2021, financial institutions is a company or

organization engaged in the business of dealing with financial and monetary
transactions. There are some financial institutions in our community this are the
commercial banks, investments, savings, deposits and loans banks, and, insurance
companies. If I will have some funds or money, I will choose to invest my funds or
my money in financial institutions specifically the commercial banks and
Insurance companies. I'm going to put my funds in Commercial banks as my
parents always teach me that saving money is a must because there are time in
which you will need money and they also tell me that I should save money for my
future. They teach me that if I will save money I should deposit it into Commercial
banks because Commercial bank ensures that you will get your money whenever
you need it specially, when emergency times came.
Depositing money to Commercial banks added security into your money because it
will lessen the possibility that your money will be stolen by thief and it will
increase the security of ones money as it was being deposited. In addition to this,
depositing money to Commercial banks allow you to earn some interest even in
small percentage but still it is better than storing it all into a vault and earn no
interest at all. With that being said, depositing money to Commercial banks allow
you to have a debit card which is very beneficial to me as I don't like carrying a
high amount of money wherever you go. Still, if I will have excess money or
funds, I will choose also to invest it to the Insurance Companies as investing
money to Insurance companies like PhilHealth, and SSS is also very beneficial and
practical because it allows me to have a financial help from whenever I need it
specially, to the times of emergency. With al, I choose to put my money to
Commercial banks and Insurance companies because it helps me ensure a better
financial status which is very important to a student wanted a better future and it
will be excellent if I will also put and invest my excess money to the Insurance
companies for better security.
Which financial instrument(s) are you most likely familiar with? Given some
extra funds, which financial instrument would you most likely invest in and
why?

According to Will Kenton 2021, Financial instrument is Financial

instruments are assets that can be traded, it can also be seen as packages of capital
that may be traded. In addition, it is real or virtual document representing a legal
agreement involving ang kind of monetary value. It signifies a legal or binding
agreement between two parties. With this financial instrument being defined, I
personally have a hand to hand experience using this documents in my daily lives.
There are common financial instruments including savings, loans, bonds, security,
treasury bills, insurance products and mutual funds. With this documents, I'm most
familiar with the financial instrument or document called savings. Saving is the
most common type of financial product that are offered to customers and with
people who are investing money for their future use. With this, If I will have some
extra funds and privilege to invest and will use financial instrument, I would like to
invest it with savings account. For a reason of, money that are being process with
the current earns of money can be used in future use. It would set as savings or
equal to investment that can be access all over the time. Savings is also a long term
financial tool that can help an individual to insure that money is safe with the
hands of banks and even it has a low interest rate still, money are being sealed and
not in risky hands of anyone. With the help of having savings, an individual can
easily access the money that he or she saved to be used in emergency situations in
daily living. Lastly, an individual who have savings can have a peace of mind
when it comes to financial things because he or she will have an assurance of
money even he or she lost his or her job, it can be also used in aiming educational
attainment and can be used for settling future plans of an individual. And with this
advantages of having savings, If would I have a chance and privilege to have so, I
would gratefully invest my current earnings or money to my own savings to secure
my future and lessen the worries about money and financial status.

Name: Dela Cruz, Jashmin M.

Grade and Section: Grade 12 ABM Riza

Subject: Business Finance