Activity 1-3 (page 183-184)

 

Activity 1

1. Are you familiar with those types of piggy banks? 

Yes, those piggy banks are used to store paper money or coins

2. Do you use them to save your money?

Yes and when it is full i will save it in a bank account

3. Why do you use them? Why don't you use them?

I used them because it can save my money even though it's not in a large amount.

4. Which one do you think is more effective, saving your money in the piggy bank or in a bank? Why do you think so?

For me both are effective, the different is in the amount of money. If the amount of money is large, better to save your money in a bank account because its more safe than save your monet in the piggy bank. 

Activity 2

1. Mention 3 things you need to set a budget :

Discipline, planning, and priotitization

2. How many steps are there to plan your budget :

6 steps that is :

1. Know your income

Knowing how much you can spend each months start with knowing how much you take home, that mean you can't set up your budget from your salary, it should be based from your net income.

2. Figured out your fixed expenses

These are the things that are don't change dramatically throughout the year. This is also a good time to make sure you have some kind of safety net for emergency. 

3. Determine expenses that vary each months

These are the things that change based on usage like your phone and other utilities. You could also add those flexible expenses like clothes and restaurant meal. These are the cost that you have to control over. 

4. Prioritize

You have to take a really hard look to what is truly necessary and rank them from the most important to the least important.

5. Follow your spending and review monthly 

Keep on your eye to your wallet and especially those credit card to make sure you're spending within limits throughout the months.

6. Keep track

Keep track of your expenses then you just balance your budget, keep your income information current, and track your actual expenses monthly. After a few months you'll start to see patterns then you can figure out where you can streamline and make adjusment.

3. What is the first step?

1. Know your income

Knowing how much you can spend each months start with knowing how much you take home, that mean you can't set up your budget from your salary, it should be based from your net income.

4. What is the last step?

6. Keep track

Keep track of your expenses then you just balance your budget, keep your income information current, and track your actual expenses monthly. After a few months you'll start to see patterns then you can figure out where you can streamline and make adjusment.

Activity 3

How to deposit check through Automatic Teller Machine (ATM) : 

1. First, insert your debit card into the machine. 

2. Choose what language you would like to have this transaction.

3. Insert your PIN (Personal Identification Number).

4. Select the type of transaction. Select deposit. 

5. If you choose deposit, it'll ask us if we're gonna make a deposit using a check or cash (e.g., choose a cash). 

6. Then, they'll give us information on when the funds will be available. If we would like to continue, press yes. 

7. Choose what type of account we want to deposit, checking or savings (e.g., choose checking).

8. They'll asking for a receipt. Press yes if you would like to receive a receipt for the transaction. 

9. After that, they'll ask to prepare our check. Remember to properly endorse check before inserting and press continue if you ready. 

10. Press continue after making sure that the amount on the screen is accurate. 

11. Last, make sure to take your receipt as well as your debit card.