English Learning Guide

Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

Name: Cohort: Date:

Training program: Instructor:

BASIC FINANCIAL PLANNING ACCORDING TO CONTEXT (INDIVIDUAL/CONTEXT) FINANCIAL

PLANNING HABITS

This workshop attempts to help you improve your financial plans according to the context. You will learn
basic vocabulary taking into account the expenses, costs, investments you need in your daily life or in the
Company where you are working. You will learn about financial terms, financial plans and habits

Objective: From the development of these activities, you will be able to plan the finances according to the
context and follow some instructions.

1. Work in pairs and answer the following questions:

- What is your financial plan?

- What age do you hope to retire?
- Do you know how much you save or spend each year?
- Do you have the proper amount in an emergency fund?
- If you only had 5 years to live, what would you change in your life?
- If I found out I was going to die tomorrow, what would I regret not doing?
- What are the ten most important things you want to accomplish?

Share your answers. Ask and answer questions about your partner’s information.

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English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

2. Use this format to create a SMART goal. Identify a goal that is short, mid, and long-term
when completing.

Today's Date:
Date Achieved
Verify that your goal is
YOUR ANSWER YOUR GOAL
SMART

Specific: What is your goal?

(What? Why? And How?)

Measurable: How will you

measure your progress?
(How many? How much?)

Achievable: Is achieving this

goal realistic with effort and
commitment? What steps are
involved?

Realistic: What skills and

knowledge are necessary to
reach the goal? Is it do-able?

Timely: When will you

achieve this goal?

This goal is important because:

3. Skills practice: Do the following activities to practice the learnt vocabulary and English
structures.

3.1 SPEAKING PRACTICE

Now, practice your oral skill and think about the next ten years: “you are the head of your GC-F -005 V. 01
company, plan and explain to your partners the mid-terms goals, the investments and costs”.
English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

- How could you do it? You can use the previous questions to do it.
- Share your information with the class and answer your classmates’ questions.

3.2 LISTENING PRACTICE

Watch the video; make notes about the 6 steps about the financial planning process:
https://youtu.be/RBdLCW44ve8
Create a chart, where you can identify the 6 steps on your personal financial planning

PRIORITIZE &
EXPECTATIONS DISCOVERY GOALS RECOMMENDATIONS REVIEW
IMPLEMENT

3.3. READING PRACTICE: reading about personal financial planning.

Before reading the next text, look for the following words/ expressions and write down their
definition.

Finances/ economics/ economy goods services market forces/ prices/ supply/ demand/ manufacture
rise/ business/ credit union/ savings/ checking account/ loan/ investments

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English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

Influences on Personal
Financial Planning1
What factors can influence your
personal financial planning?

Many factors will influence your day-to-day

decisions about finances. The three most
important factors are:
Life situations
Personal values
Economic factors

Life Situations and Personal Values

As you enter adulthood, you will experience

many changes. You may go to college, start a
new career, get married, have children, or move to a new city. These new life situations
will affect your financial planning. Your personal values also influence your financial
decisions.

For example, “Angela just graduated from high school and will be going to college in the
fall. She will move out of her parents’ house and live in the college dorm. Angela is
beginning a new and exciting stage in her life. She values independence, and so she plans
to move to an apartment with a roommate in her sophomore year. She will experience
more personal freedom, but with her independence will also come more financial
responsibility”.

Economic Factors

Economic factors across the country and around the world can affect personal finances.
They play a role in day-to-day financial planning and decision making for most people.
Economics is the study of the decisions that go into making, distributing, and using
goods and services. The economy consists of the ways in which people make, distribute,
and use their goods and services. To understand economics and the economy, you need
to be aware of the market forces, financial institutions, global influences, and economic
conditions that affect global as well as personal decisions.

1 GC-F -005 V. 01
Text adapted from: https://printableworksheets.in/worksheet/financial-planning-reading. used by
SENA for pedagogical purpose, exclusively.
English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

Market Forces: The forces of supply and demand determine the prices of products, or
goods and services, you purchase.

Supply is the amount of goods and services available for sale.

Demand is the amount of goods and services people are willing to buy. When there is a
high demand for an item, such as a popular toy, or when a company cannot manufacture
enough of a certain product to keep up with the demand, the price of the product rises.
When there is little demand for a product, or when a company produces more than it
can sell, the price of the product drops.

Financial Institutions: Most people do business with financial institutions, which

include banks, credit unions, savings and loan associations, insurance companies,
and investment companies. Financial institutions provide services that increase
financial activity in the economy. For example, they handle savings and checking
accounts, provide loans, sell insurance, and make investments for their clients.

Based on the information presented in the text, answer the following questions:

- Mention one life situation that might affect your personal financial planning.
- In your opinion, which of the economic factors seriously affects your personal
financial planning?
- Which do you think is one of the supplies that due to its demand is really expensive?

3.4 WRITING PRACTICE

- Prepare a poster with some tips for your friends and their families with a model for
financial planning and deliver to your instructor. Take into account the information
presented on this workshop.

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English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

- List 2 of your primary short-, mid-, and long-term financial goals, the approximate
date when you expect to achieve them, how much you have saved already,
approximately how much you’ll need, and where your savings are. Follow the
example below.

*This list can serve as benchmark for evaluating your progress. Remember that it’s perfectly normal for
2
your goals to change as your life changes

4. Extension activities: the extension activities will help you improve your performance in the
topics. You need to reach at least five hours of practice on your own.

- Explore the following website and practice the English structure (THIRD
CONDITIONAL). Do the activities and deliver them to your instructor:

2
Image taken from internet as an example
https://docs.google.com/viewerng/viewer?url=https://www.wclibrary.info/research/moneysense/doc
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uments/goals_worksheet.pdf&hl=en_US. Used by SENA for pedagogical purpose, exclusively.
English Learning Guide
Competency 2
Unit 6: Financial Education
Workshop 3
Centro de Servicios Financieros- CSF

https://learnenglishteens.britishcouncil.org/sites/teens/files/gs_third_conditional_-
_exercises.pdf

- For more information about financial planning habits:

https://www.youtube.com/watch?v=Ed2L-X7LOj4
- Find tips to improve your habits: https://www.youtube.com/watch?v=tZw8tnz-uv8

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