Rafael A.
Melad BSE-3B
Fixed vs. Variable Expenses
Fixed expenses remain the same year-round. Car payment is an example.
Variable expenses occur regularly but the amount you pay varies. Electric and gas
bills are examples of these.
Which expenses are fixed and which are variable? Indicate the monthly total.
Put a check mark on the corresponding type.
Monthly total Fixed Variable
Food 5270 /
Clothing 300 /
Gas 500 /
Medicine 1350 /
Internet 1500 /
Needs vs. Wants
Needs Wants
Food cloths
Medicine phone
shelter foods
Personal necessities car
Questions to Ponder
Read the questions and instructions carefully. Follow what is asked and write
your answer in the space provided.
1. How well do you understand personal finance concepts? Rate your
knowledge below.
4: Above Average Knowledge
3: Average Knowledge
2: Limited Knowledge
1: No Knowledge
2. Financial literacy requires skills to aid you in making responsible and
ethical financial decisions. These skills include being able to set goals,
create and keep current a budget, formulate a spending plan, and keep
organized records. Think about your overall skills in those mentioned and
mark where you feel your overall skills level is.
4: Above Average Skill
3: Average Skill
2: Limited Skill
1: No Skill
3. Behavior is applying what you learn to bring positive impact. Positive
financial behavior brings numerous benefits. Paying bills and debts on
time and making regular deposits in savings account are positive financial
behaviors. Rate your ability to practice positive financial behavior.
4: Above Average Ability
3: Average Ability
2: Limited Ability
1: No Ability
4. How does your current budget pie chart look like? Using the following
categories, map your ideal budget plan using a pie chart. You may use
more categories as needed.
a. Housing
b. Electric bills
c. Internet
d. Food
e. Debt
f. Education
g. Transportation
Ideal budget
A. Housing
B. Travel
C. Food
D. Cloths
E.
Transportatio
n
F.Medicines
Current budget
A. Electric bills
B. Food
C. Internet
D. Dept
E.Education
F. Transportation
How does your current budget pie chart compare with your ideal budget pie
chart?
-In my current budget pie it indicates the expenses and how to manage it in daily live. While in my ideal
budget pie those are just my next expenses or looking forward on budgeting it to the next month.
Read the following questions and instructions carefully. Write your answer on the
space and table provided.
1. Differentiate among the following financial goals: short-term, medium-term,
and long-term financial goals. Give example for each.
Goals Definition Example
Short-term Are things you want to do with Setting a budget, starting an
your money within the next few emergency fund and paying off
months or year. dept.
Medium-term Are goals that are achieved only Saving enough for a down
after a sequence of short term payment on house.
goals have been achieved and
which build together to form a
long term.
Long-term Are usually your big picture Saving enough money to retire.
cost. These goals may take
several years or even decades
to reach.
2. Interview at least 10 friends, classmates, and relatives. Explore their financial
behaviour or spending and saving behaviour and present data using any of the
following forms:
-Based on my data gather or information about how people manage their money and I use meme to
represent or show you the result of it.
3. How would the different characteristic types react toward this SALE
advertisement? Write below what each type of person would likely say about
advertisement.
Frugal: There’s a lot of sale item! But, I need to prioritize our daily needs such as foods.
Pleasure: Mom!!! Look at that store there’s a lot of sale item like shoes, and bags. I need to buy that
ohhhhhhhh this one too!!
Status: Hey guys! I have a new phones and shoes. Only rich people can only could have this.
Indifference: Hey mom. Can I buy this dress? No need my lovely daughter, I can make you like that in our
home.
Powerful: Hey, look for what I have right now. I can give you like this, just name it so that I can buy that
and I can buy even you.
Self-worth: Is that what you’ve got? ohhhh come on dear, you’re so cheap. Unlike me I can buy even
more.
