Being aware to your finances is one of the best decisions to assure and to keep your finances. Spending, saving, & budgeting are some example on how to manage your money or finances. But in today’s economy, it is slight impossible to spend, to save, and to budget your money because of inflation. We are living in a place where the prices in the market are getting higher. So, education and knowledge about financial literacy is a big help on how to use your money effectively. (Sariling gawa)
Financial education is a kind of learning that deals about the proper use of finances and the financial environment through a course of study. Financial literacy includes effective decisions with regards to the management of money and it is also includes the person’s ability to understand the concepts of finance. (Sariling gawa)
The purpose of this study was to communicate to the students of Panpacific University, specifically to the students of the department of School of Business and Management Education or the SBME with regards to the management of their finances. The proper way of using the finances of the students is a one form of financial literacy. (Sariling gawa)
Financial literacy has something to do with the education and understanding of various financial areas such as topics related to managing personal finance, money and investing. This topic focuses on the ability and the will of a person to manage personal finance matters in an efficient manner, and it includes the knowledge or the skill of making appropriate decisions about personal finance such as investing, spending, real estate, paying for college, budgeting, retirement and tax planning.
The lack of financial literacy may lead to making poor financial decisions that can have negative consequences on the financial well-being of a person or of an individual.
The main steps to achieving financial literacy include learning the skills to create a effectively budgeting, the ability to track spending, learning the techniques to pay off debt and effectively planning for retirement. These steps can also include counseling from a financial expert. Education about the topic involves understanding how money works, creating and achieving financial goals and managing internal and external financial challenges.
Financial illiteracy affects all ages and all socioeconomic levels. Financial illiteracy causes many people to become victims of predatory lending, subprime mortgages, and fraud and high interest rates, potentially resulting in bad credit, bankruptcy or foreclosure.
It is very important to understand what does financial literacy mean is. Financial literacy helps the businesses and the individuals to achieve stability when it comes to financial. Those who understand what financial literacy is, will be able to answer questions about purchasing. (Sariling gawa)
Financial literacy is all about cash management. This topic is applicable to individuals on how to spent,saved,and use the money to your financial decisions. This decision include how to invest,saved money,and spend. As an individual you must understand the concept of budgeting, so that you can make wise decision on how to manage your money. This skills is very important because some individuals do not know this basic knowledge and they are unable to meet their financial expenses.
The main purpose of this study is to evaluate the first year to fourth year student of school of business and management education in panpacific university with regards to cash management on how they saved money,spend money,budget the money and how can they make decision with regards financial literacy