Financial Literacy

Lesson Package SummaryEarn, Save, Spend and Donate2. Needs VS Wants

Key Concepts of Financial LiteracyLesson 1: What can we do with our money?

Key Concepts of Financial LiteracyEarnMoney does not come easy. We need to earn them by working. SaveAlways save part of your money for future spending or rainy days.Spend Spend your money wisely. Think of the different choices and what can happen if you choose each of them. Make a responsible decision. DonateWe can help the less fortunate by donating to the charity.

Key Concepts of Financial LiteracyLesson 2: Needs VS WantsNeeds are the basic things that we must have to survive.E.g: Food, Water, Clothes and Shelter

Key Concepts of Financial LiteracyLesson 2: Needs VS WantsWants are things that we like to have but we dont need them to survive.E.g: Ice-cream, Branded school bag, Candies, Soft drinks, Computer games

Key Concepts of Financial LiteracyEnrichment: SMART BudgetingA budget is a saving and spending plan.With a budget, you will put your money into Savings first before you spend.You will know how much you spend every day and you can keep track of your money.A budget is important because it prevents you from overspending and allows you to prioritise.

The End

Hope you have learnt more about the key concepts of Financial Literacy.Remember to practise good saving habits and spend your money wisely!