Financial Literacy (Reflection)

Weeks ago when the first group of reporters presented and tackled their topic of Financial Literacy. They presented what is the meaning of the literacy, what are the benefits when you are a financially literate person, financial literacy here in the Philippines, how important financial literacy is, and developing financial literacy. They almost consumed the time of our class and the remaining time was used by our instructor to further discussed the said topic. Through the report something left my mind and realize that how important for us to be financial literate when the things that are essential are starting to increase their prices. And we must be a wise shopper since it is already hard to earn money. 

I agree that as the world suffers from inflation today it is a right to be a wise spender and lessen our luxuries. Saving and investing must be the first thing in our mind. 

I can relate to the discussions of the group, one of the reporters said that when we want things we should prioritize our needs rather than wants and in buying we should be a wise spender, we should not buy a product because we want its appearance but we buy them because it is essential for us. This is mostly done through an online shopping wherein we order and get things we want in instant without efforting to go to a store and see the product personally, since it is a sale or have a free shipping we will check it out. And this behavior is what I usually do, sometimes I tend to purchase things that I don't need thinking that I will need it in the future yet until now I didn't yet used it. 

I must lessen this behavior and change my perspective in buying things. I should consider its quality and usefulness and see to it that I badly need it since I am not yet earning my own money and I am spending what my parents give me. A wiser me should be develop and considering how important and easy to spend money yet it is so hard to earn.