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Empowerment Technologies

The document discusses the importance of financial literacy and savings. It aims to encourage people to become educated about managing money. The key points are: 1) The purpose is to promote financial literacy as it is important for dealing with life challenges like pandemics and emergencies. 2) The mission is to reduce inequality by providing knowledge on saving money and understanding the financial system. 3) Financial literacy includes understanding concepts like budgeting, investing, borrowing, taxation and personal financial management. 4) Being financially literate has benefits like making better decisions, managing debt effectively, and reducing stress.

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Luxury Kenn
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41 views

Empowerment Technologies

The document discusses the importance of financial literacy and savings. It aims to encourage people to become educated about managing money. The key points are: 1) The purpose is to promote financial literacy as it is important for dealing with life challenges like pandemics and emergencies. 2) The mission is to reduce inequality by providing knowledge on saving money and understanding the financial system. 3) Financial literacy includes understanding concepts like budgeting, investing, borrowing, taxation and personal financial management. 4) Being financially literate has benefits like making better decisions, managing debt effectively, and reducing stress.

Uploaded by

Luxury Kenn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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EMPOWERMENT

TECHNOLOGIES
SAVINGS AND
FINANCIAL LITERACY
DRIVES AND ADVOCACY
“ICT AS A
PLATFORM FOR
CHANGE”
PURPOSE:
The purpose of this presentation is to
encourage everyone to become literate in
terms of money.
MISSION:
MISSION:
The MISSION of this campaign is to
reduce the gap between the inequality
of money spread among society.
To give people knowledge about how to
save money and to understand how to
navigate the financial system.
INTRODUCTION:
In these times of pandemic, a lots of
people are struggling because of shortage of
money. Many parents go abroad just to save
and earn money for their family. When
pandemic becomes the great issue around the
globe, lots of people are not prepared and this
pandemic made us realize that being literate in
money is very IMPORTANT!
WHAT IS SAVING?
According to dictionary, SAVING is the portion
of income not spent on current expenditures. In
other words, it is the money set aside for future
use and not spent immediately. In addition,
savings can be invested and, as a result, you get
profit on the money you have set aside.
IMPORTANCE OF SAVING
 Makes you financially
dependent.
 No need to take loans and
pay interest to Financial
Institutions.
 Helpful in Emergency
times.
 Lead a Stress-Free Life.
WHAT IS FINANCIAL LITERACY?
FINANCIAL LITERACY is the
cognitive understanding of financial
components and skills such as
budgeting, investing, borrowing,
taxation, and personal financial
management. It gives the ability to
make sound financial choices so you
can manage and grow money.
FUNDAMENTAL COMPONENTS
OF FINANCIAL LITERACY

Financial Literacy consists of several


financial components and skills that allow
an individual to gain knowledge regarding
the effective management of money and
debt.
THE FOLLOWING ARE THE FUNDAMENTAL
COMPONENTS OF FINANCIAL LITERACY THAT
SHOULD BE LEARNED:

 BUDGETING
 INVESTING
 BORROWING
 TAXATION
 PERSONAL FINANCIAL
BUDGETING
Creating the right balance
throughout the primary use of
money allows individuals to
better allocate their income,
resulting in financial security
and prosperity.
INVESTING
An individual must learn about
key components in regards to
investing. Learning about crucial
investment components allows
individuals to make smarter
financial decisions that may
result in an increased inflow of
income.
BORROWING
In most cases, almost every individuals
is required to borrow money at one
point in their life. But we must
understand the basic terms in loan. If
one can understood the basic term, an
individual’s financial literacy will
increase, which will provide practical
borrowing guidelines and reduce long-
term financial stress.
TAXATION
Gaining knowledge about the
different forms of taxation
and how they impact an
individual’s net income is
crucial for obtaining financial
literacy.
PERSONAL FINANCIAL
MANAGEMENT
This one is the most important,
personal management includes an
entire mix of all the components that
is listed earlier. Achieving in-depth
knowledge of financial components
guarantees an increase in individual’s
financial literacy.
Being financially literate is a skill that
brings forth an assortment of benefits
that can improve the standard of
living for individuals through an
increase in financial stability.
Listed below are the assortment of
benefits of being financially literate:

 Ability to make better financial decisions.


 Effective Management of money and debt.
 Greater equipped to reach financial goals.
 Reduction of expenses through better regulation.
 Less financial stress and anxiety.
 Increase in ethical decision-making when selecting insurance,
loans, investments and using a credit card.
 Effective creation of structured budget.
WHY FINANCIAL LITERACY IS NEEDED?
 Financial Education helps you gain control.
 Financial Education helps End Debt Cycle.
 Financial Education helps you understand your
money.
 Financial Education helps you plan for the future.
 Increasing Life Expectancy
CONCLUSION:
Making steps to becoming financially
literate is an important component of life
that can ensure financial solidity, reduce
anxiety, and stimulate the achievement of
financial goals.
READ ME NOT!
“The main reason people struggle
financially is because they have spent
years in school but learned nothing
about money”
~ROBERT KIYOSAKI

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