Financial Literacy by Mr Jack CHAPPELL https://padlet.com/chappj1/i7jpc0zliqsooytu 💸 en-us 2021-01-29 04:10:14 UTC 2025-11-19 00:58:25 UTC hello@padlet.com chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139394753 Financial literacy is the ability to manage one’s money. The goal of financial literacy is to help in understanding financial concepts that will help them to manage their money better. It is a life skill that one must grasp for good financial wellbeing. Financial literacy includes budgeting, investing, insurance, and loans and interest. In this padlet, we have covered the importance of financial literacy and how can one improve their financial literacy skills.


]]> 2021-01-29 04:23:57 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139394753 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139395892 Budgeting is an essential life skill that helps in acquiring financial knowledge for planning and managing money. It is one of the most important components of financial literacy. It is necessary to keep a tab on one’s spending habits. Optimal money management will help in creating an actionable financial plan. The actionable plan will help in tracking the expenses, segregating the unnecessary ones and help in spending money wisely.  This way, one can save more. The thumb rule for budgeting is that income has to be greater than the expenses. The difference between the two (income and expenses) is what helps in stashing up as savings.

Budgeting helps in planning for short, medium and long term expenses. It enables individuals to save accordingly. Hence, one doesn’t require to compromise on any of their goals. Therefore, budgeting is vital for financial security and independence.
]]> 2021-01-29 04:24:58 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139395892 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139397921 Debt is nothing but one’s borrowing e.g. spending money that isn’t theirs. For example, if an individual borrows money from the bank or uses a credit card or takes a short term loan. All these become part of the debt. Mostly, debt is perceived in a negative aspect. Which makes understanding debt very important.

However, not everyone can buy a house or car or pay tuition fees with cash. In such scenarios borrowing or taking a loan is the only way out. But the most important thing is to differentiate between good debt and bad debt. Also, one should always aim to avoid bad debt as much as possible. This is the basics of debt management. Good debt is borrowing money for things that are necessary for making a living. For example, buying a home or paying education expenses. On the other hand, bad debt is borrowing money for unnecessary expenses. For example, using a credit card to buy expensive clothes or electronic gadgets, etc.

Therefore, being able to differentiate between necessary and unnecessary expenses will help an individual from not drowning in heavy debts.]]> 2021-01-29 04:26:41 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139397921 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139398873 Saving ensures financial wellness, a secure present and an uncompromised future. One can build wealth in the long term through proper financial planning.  Keeping a tab on one’s spending habits will help in saving money. Therefore, through savings, one can easily achieve the following:

Achieve important financial goals. For example, full payment of a home loan, kid’s education, and retirement savings.

Create an emergency fund. An emergency fund acts as a cushion during unexpected life events. The fund should have at least six months worth one’s income.

Inculcate financial discipline. Through saving money regularly, one can achieve financial discipline and excel in their life.
]]> 2021-01-29 04:27:31 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139398873 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139399266 Instead of holding the money idle in a bank account, one can divert it to financial instruments. Investing is all about generating and growing wealth to enjoy a secure and happy future. It is all about putting money in an avenue that will help in generating significant returns over time. Investments will help in generating additional monthly income and significant returns.

One can also achieve their financial goals at the same time allocate funds towards retirement saving. Some of the widely used investment options are equities, debt instruments, mutual funds, real estate, and gold.
Therefore, becoming financially literate will help in:
  • Building wealth
  • Protecting oneself in case of emergencies
  • Achieving goals
  • Securing one’s family future
  • Retirement planning
  • Lead a stress free life
]]> 2021-01-29 04:27:51 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139399266 Create a budget chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139401231 One should start tracking their income and expenses on a monthly basis. This will help in segregating necessary and unnecessary expenses. 
The budgeting process should include:
  • Income (payslips, investments etc.)
  • Fixed expenses (bills, rent, loan payments, etc.)
  • Other expenses (shopping, travel, etc.)
  • Savings
]]> 2021-01-29 04:29:25 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139401231 Manage Bills chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139401649 One has to ensure they are paying bills promptly. Choose auto debit options for recurring bills from the bank account. Set up payment reminders to stay on top of monthly bill payments. Paying bills should not be postponed or neglected. Hence one needs to make it as a priority in their budgeting.]]> 2021-01-29 04:29:44 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139401649 Maintain a good credit score chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139402361 Having a good credit score will help in getting the best interest rates on credit cards and loans. Therefore, aim to maintain a good score that will help in the case of borrowings.]]> 2021-01-29 04:30:23 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139402361 Manage debt chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139402950 Manage debt by reducing spending and increasing repayments. Have a debt reduction plan that will help in reducing the liability. For example, paying off loans with high interest rates first. ]]> 2021-01-29 04:30:53 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139402950 Start Saving and Investing chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139403721  Savings is not difficult when it is done systematically. After proper budgeting, all the one has to do is identify financial goals and put their financial resources to optimal use. One can divert their financial resources (savings) towards investing. Investing in a goal will help individuals achieve them easily. Small and regular savings will help in realizing life goals without much stress. Systematic investment plans will enable individuals to save a fixed amount regularly every month. Also, the key to generating significant returns is to have a long term investment horizon.

Therefore, one should have a good strategy for identifying financial goals, segregating them as short, medium and long term goals and investing. Also, it is important to be patient with investments and not get panicked with market volatility. Furthermore, one can consult a financial advisor for planning their investments.]]> 2021-01-29 04:31:33 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139403721 Tax laws in HK chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139405323 2021-01-29 04:33:01 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139405323 What is financial literacy? Why is is so important and how to improve your skills? chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139406452 2021-01-29 04:34:02 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139406452 UK tax laws chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139410415 2021-01-29 04:37:30 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139410415 Hong Kong Salaries Tax guidance chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139410585 2021-01-29 04:37:39 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139410585 USA tax basics chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139414070 2021-01-29 04:40:15 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139414070 USA Tax basics chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139414913 2021-01-29 04:41:03 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139414913 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139416940 2021-01-29 04:42:56 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139416940 Comprehensive budget template chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139431010 This is more geared towards a family but can be useful to look at to see how your financial budgeting and planning becomes more complex with time and life situation changes]]> 2021-01-29 04:56:03 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139431010 Simple(ish) budget template chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139434492 2021-01-29 04:59:03 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139434492 4 Steps chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139437237 2021-01-29 05:01:58 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139437237 Complete guide to budgeting chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139445536 2021-01-29 05:11:00 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139445536 Quick start budget chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139449638 2021-01-29 05:15:29 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139449638 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139450885 2021-01-29 05:16:42 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139450885 A super simple budget chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139460291 Income - expenses = 0]]> 2021-01-29 05:26:54 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139460291 Download this app for android chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139464503 It's free]]> 2021-01-29 05:31:19 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139464503 Download this app for apple iPhone / iPad chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139465516 It's free]]> 2021-01-29 05:32:21 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1139465516 Q1) what is financial literacy? chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144404503 2021-01-31 02:39:59 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144404503 Q2) what is the rule of thumb for budgeting? chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144410867 2021-01-31 02:50:53 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144410867 Q3) Explain the difference between good and bad debt? chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144411016 2021-01-31 02:51:09 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144411016 Q4) explain what an emergency fund is and how it is useful? chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144411503 2021-01-31 02:52:03 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144411503 Q4) What are the benefits of investing? chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144412183 2021-01-31 02:53:24 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144412183 Q5) how does income tax work in Hong Kong? (and elsewhere...) chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144412780 2021-01-31 02:54:32 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144412780 Mr Money Moustache chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144417804 2021-01-31 03:03:12 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144417804 The millionaire teacher chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144419496 Author of the 9 money rules you should have learned in school]]> 2021-01-31 03:06:14 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144419496 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144421738 2021-01-31 03:10:03 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144421738 Please add anything related to financial literacy you think others could benefit from chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144612226 2021-01-31 06:02:58 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1144612226 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1146485412 2021-01-31 23:45:21 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1146485412 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1146495960 2021-01-31 23:48:51 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1146495960 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1146496234 2021-01-31 23:49:06 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1146496234 Dangers of gambling chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1146497917 2021-01-31 23:50:34 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1146497917 Financial literacy is the possession of a set of skills and knowledge that allows them to make effective decisions with all of their financial resources. hattoo1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1151725952 2021-02-02 03:38:14 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1151725952 A budget is a financial plan for a defined period. hattoo1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1151734242 2021-02-02 03:42:55 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1151734242 To pay money to another party. hattoo1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1151736857 2021-02-02 03:44:31 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1151736857 Saving is income not spent hattoo1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1151743686 2021-02-02 03:48:20 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1151743686 Compound interest explained in one minute chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1156919716 2021-02-03 04:45:10 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1156919716 Dave Ramsey baby steps chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1166640222 2021-02-05 01:16:07 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1166640222 Rich Dad Vs Poor Dad summary chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1174887932 1-Page PDF Summary: https://www.productivitygame.com/summ...​
Book Link: https://amzn.to/3rvKWvk​
FREE Audiobook Trial: http://amzn.to/2ypaVsP]]> 2021-02-08 02:54:56 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1174887932 Summary chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1174897466 2021-02-08 03:02:17 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1174897466 The Psychology of Money chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1224553421 This video explains how compounding works, the effects of market volatility and managing risk using diversification strategies. ]]> 2021-02-22 02:19:43 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1224553421 The Psychology of Money chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1224562364 1 page summary PDF]]> 2021-02-22 02:26:16 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1224562364 How to build wealth chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1234053197 Summary of the millionaire teacher ]]> 2021-02-23 22:55:16 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1234053197 The budget game chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1234386075 2021-02-24 02:01:43 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1234386075 How much? chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1243652783 2021-02-25 23:40:37 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1243652783 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1272320431 2021-03-05 03:36:53 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1272320431 Managing money as a student chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1752775824 2021-09-20 02:59:54 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1752775824 DISCLAIMER: Not financial advice. chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1753308470 2021-09-20 08:25:48 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1753308470 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1761869182 2021-09-23 03:46:59 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1761869182 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1761884439 2021-09-23 03:55:04 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1761884439 https://www.investopedia.com/best-finance-books-for-teens-5095590 chappj1 https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1761886947 2021-09-23 03:56:26 UTC https://padlet.com/chappj1/i7jpc0zliqsooytu/wish/1761886947