Financial education

FINANCIALEDUCATION

FOR DIFFERENT TYPES OF CATEGORIES

By,Central Bank Council

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Having problem with Financial? You will get to know about problem, solutions and financial support from this interactive CD. This Interactive cd is about financial education program. It is basically about personal finance. Personal finance is the financial management, which an individual or a family unit is required to do to obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. Different categories will be stated based on your current status. The targeted user groups are secondary students, tertiary university students, fresh graduates, newly wed family, working adults with family and children and retires. Prepared by the Central Bank Council

INTRO PAGE

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Cash - in savings accounts, short-term CDs or money market deposits - is great for an emergency fund. But to fulfill a long-term investment goal like funding your retirement, consider buying stocks. The more distant your financial target, the longer inflation will gnaw at the purchasing power of your money.Suze Orman

A good financial plan is a road map that shows us exactly how the choices we make today will affect our future.Alexa Von Tobel

HOME PAGE

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Secondary students’ daily routines are study, do homework and handle exams, except for weekends. They don’t have much responsibility other than taking care of their studies,therefore most of the money they spend is for leisure and own interests, such as snacks during hang out with friends, high-end technology devices, shopping, gaming, clothing and many more... So, where do they get their money from? From PARENTS of course. But what if their parents do not have the extra cash to provide them those fancy stuff that they wanted? What should they do?

SECONDARY STUDENT (Issue) PAGE


Age 13 to 17 years old (still studying), the financial support is limited as they are still under parents care. Below are the solutions• Identify needs and wants• Encourage culture of saving

SECONDARY STUDENT (Solution) PAGE

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Tertiary university students are usually young adults age ranged from 18 to 22. Their daily routines are study, do homework and assignments, handle exams and sometimes involve in curriculum events. Tertiary university students usually stay in hostel or rented house near by the university. Although they don’t have much responsibility other than taking care of their studies, they spend a fortune on school fees and living expenses. Not to mention some might even spend on leisure and own interest other than paying course materials and utilities. They spend on outing with friends, high-end technology devices, shopping, gam-ing, clothing and many more... So, where do they get their money from? From PARENTS of course. But what if their parents do not have the extra cash to provide them those fancy stuff that they wanted? What should they do?

TERTIARY UNIVERSITY STUDENT (Issue) PAGE


Undergraduate students studying at tertiary institutions. Financial support for some students are limited as they are still under parents care. Below are the solutions:•Identify needs and wants•Reduce expenses on leisure•Work part-time to earn extra income

TERTIARY UNIVERSITY STUDENT (Solution) PAGE

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Fresh graduates are the young adults who had just graduated from university and joined the workforce for not more than 2 years. They usually have a lot of commitments such as bills, rentals, daily expenses, transportation, loans and many more. They get money by working. Their daily routines are eat, go to work, stuck in traffic, sleep then repeat the same process again for every working days. They have big expenses and barely have time to spend on leisure as they do not have the extra cash to do so as well. So, how would they solve the money issue?

FRESH GRADUATES (Issue) PAGE


Fresh graduates are recent graduate or just enter workforce for 1-2 years. Financial support for some students are limited as they just entered the working life. Below are the solutions:•Emergency cash•Make a plan to organize expenses accordingly•Create bank account for savings•Avoid using future money (Credit card)

FRESH GRADUATES (Solution) PAGE

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Newly wed families are the adults who are married less than 3 years. Some of them are still without any child but some of them already have kids who is less than four years old. They have a lot of commitments such as bills, rentals, daily expenses, transportation, loans and many more. They get money by working. Their daily routines are eat, go to work, stuck in traffic, sleep then repeat the same process again for every working days. They barely have quality time to spend with family not to mention leisure as they spend most of the time working to support the family expenses. Furthermore, newly wed family with kids have to spend extra cash for child raising and sort. So, how can they solve the money issues?

NEWLY WEDS FAMILY (Issue) PAGE


In this category is for people who are married with children more than 4 years old. Below are the solutions:•Emergency cash•Set budget for every expenses•Track expenses•Create bank account for savings•Make plans for children education in future•Avoid using future money (Credit card)

NEWLY WEDS FAMILY (Solution) PAGE

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Working adults with family and children are the people who are married for more than 5 years and have children who are at least four years old. They have quite a number of expenses such as bills, rentals, daily expenses, transportation, loans and many more. Thus, with the kids growing up, they have to plan for the kids’ future education. They work hard to earn money and barely have quality time to spend with family nevertheless leisure. So, how can they solve the money issues?

WORKING ADULTS WITH FAMILY & CHILDREN (Issue) PAGE


In this category is for people who married with children more than 4 years old. Below are the solutions:•Emergency cash•Set budget for every expenses•Track expenses•Create bank account for savings•Make plans for children education in future•Avoid using future money (Credit card)

WORKING ADULTS WITH FAMILY & CHILDREN (Solution) PAGE

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Retirees are the elderly aged from 60 and above, and had retired from work. Their money source is either came from the retirement or investment. Other than that, some may be getting it from their children. Therefore, most of the time the money are spend on either family, investment, health care, hobbies and so on. How do they spend money more wisely?

RETIREES (Issue) PAGE


In this category is for people who are 60 years old and above, retired from work. Below are the solutions:•Keep savings for health care or emergency use

RETIREES (Solution) PAGE

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Financial education