Cabal, Jessa Mae C.

BSBA FM-3A

Activity 5

1. Discuss the learnings you had on Personal and Public Finance.

I have learned a lot about personal finance and have gained helpful knowledge in
several areas. First, I have improved my budgeting skills by carefully keeping track of my
inflows, outflows, and savings goals. I have also expanded my knowledge about
investing; understanding stocks, and bonds, as well as how to manage risks. Managing
debt, including credit cards and loans, is another skill I have developed. Additionally, I
have learned about various types of insurance. Lastly, I have worked on improving my
financial literacy, which helps me make informed decisions about my money.

Furthermore, in public finance, I learned that government budgets show how

public funds are used for various purposes. I also learned how governments generate
revenue through taxes, such as income tax and sales tax, as well as other income
sources. Understanding how funds are allocated in government budgets for areas such
as education, healthcare, defense, infrastructure, and social programs has given me a
broad understanding of public finance.

2. How does Personal and Public Finance subject influence your way of thinking and
spending behavior?
My way of thinking and spending behavior has been greatly influenced by
Personal and Public Finance subject. I am currently practicing mindful spending as my
guiding principle, which helps me to make thoughtful decisions by weighing needs over
wants and considering long-term consequences. In financial decision-making, I carefully
consider the risks and rewards, especially when it comes to investments and debt
implications. Most importantly, I understand the value of emergency preparedness,
specifically the importance of having emergency funds to be better prepared for
unexpected expenses. In addition, learnings from public finance have increased my
knowledge of long-term goals and helped me understand how social welfare and
economic stability are influenced by government policies.

3. What's your favorite topic on this subject? Explain why.

My favorite topic in this subject is "Money Management Strategy: Financial
Statements and Budgeting" because it discusses the basics of budgeting. This involves
tracking income, expenses, and savings goals. This topic also enhances my financial
literacy by teaching me how to interpret financial data, and make strategic decisions.
Additionally, it emphasizes the application of personal finance, where financial
statements are not limited to corporations; we can create our own personal financial
statements. Lastly, the long-term benefit of budgeting is that it cultivates discipline and
responsible spending habits.