Financial Literacy
COMMUNITY EXTENSION: A PROGRAM GEARED TO EMPOWER THE
YOUTH THROUGH SUSTAINABLE PLANNING
PROJECT CHARTER PLAN
Kolehiyo ng Pantukan
Pantukan, Davao de Oro
Members:
Costanilla, Cristy T.
Rufo, Aloha D.
Miguillas, Carla Monica B.
Sarmiento, Renilyn S.
Elisan, Honey Jane S.
Casamero, Alona M.
Aviles, Shamyhn
Bonjibon, Jezza Mae Fe
Berongan, Joxille Ann B.
Espinosa, Jocelyn
Arendain, Harold William C.
Wenceslao, Ana Rheza T.
November 2023
EXECUTIVE SUMMARY
RATIONALE:
The
Financial
Management
Local
Organization
under
Financial
Management Association International is implementing a community extension
program tailored for the youth, with a focus on financial literacy, is a strategic
and essential investment in their overall development and future prosperity. To
embark on their academic journeys, many are confronted with the challenges of
managing personal finances, often lacking the necessary knowledge to navigate
this critical aspect of adulthood. By introducing targeted financial education,
encompassing skills such as budgeting, saving, and comprehending future loans,
the program equips students with practical tools for immediate and future
financial decision-making.
This not only empowers them to navigate their academic years with
financial savvy but also instills a sense of responsibility in the near future.
Furthermore, the long-term impact of a financial literacy program for youth is
significant. Through this program, they are armed with insights into managing
loans, building finances, and making wise investment choices, these individuals
become contributors to a more economically aware and responsible society.
Beyond the individual benefits, the program cultivates a positive ripple effect,
enhancing the overall financial well-being of the community.
In essence, this community extension initiative focused on financial
literacy for youths is an investment in fostering a generation of financially
empowered and responsible citizens, ensuring not only their personal success
but also contributing to the prosperity of the community as a whole.
VISION
Financial Management Local Organization is to be the aspirants in
developing and disseminating knowledge about financial decision making.
MISSION
Financial Literacy A Community Extension Project, developed by
Financial Management Local Organization aims to serve the youth in the
community
in
broadening
and
empowering
the
financial
knowledge,
encouraging responsible budgeting, effective saving practices, and informed
investment decisions for a secure and prosperous future.
EMPOWERMENT
1.
2.
Empowering the youth to become financially literate in decision making.
More activities, knowledge and trainings to offer in order to briefly
understand the mission of the organization.
3.
Providing opportunities for the youth to exercise their gathered
knowledge imparted by the organization.
4.
O bligations will be handle properly is one of the missions of the
organization to ensure stability in the near future.
5.
With the organization, youth will be properly inform about saving,
spending and budgeting in daily basis.
6.
7.
Enhancing the capabilities of the youth about financial decision making.
Resolving problems, difficulties and questions from the youth about
handling finances and proper financial decision.
8.
Making the youth to realize how important to know being financially
literate in order to avoid difficulties in having decisions.
9.
Ensuring the youth that being financially literate will brought so much
opportunities and will make life easier.
10. Now, youth are the purpose of this project.
11. Teaching the youth about financial aspect is a great project in order for
them to be prepared and well literate in dealing finances and would be the
best way for them to teach or impart knowledge in the next generations.
PROJECT DESCRIPTION
Financial management local organization with its project charter plan with
a title Financial Literacy A Community Extension: A Program Geared To
Empower The Youth Through Sustainable Planning it involves educating the
youth in the community on various aspects of personal finance, budgeting,
investing, and economic empowerment. It often includes workshops, seminars,
and outreach programs to enhance individuals' understanding of financial
concepts. This initiative aims to empower youth in the community with the
knowledge and skills needed to make informed financial decisions, manage
resources effectively, and build a stable financial future. The extension may cover
topics such as saving, debt management, understanding credit, and making
informed investment choices, ultimately contributing to the overall economic
well-being of the community.
PROJECT OBJECTIVES
To further realize the mission of Financial Literacy A Community Extension:
A Program Geared To Empower The Youth Through Sustainable Planning the
following objectives are enforced:
TO
1.
TO help in understanding financial concept that will help them to manage
their money better.
2.
TO
3.
TO recognize the importance of one's financial situation on how it
develop and maintain the appropriate standard of competence for
wealth management.
impacts to their future.
4.
5.
TO discuss the importance of savings and how to manage debt.
TO provide learning opportunities to the youths in the community
to
alleviate the quality of their lives.
REQUIREMENTS
To further accelerate the success of this project, the project shall meet the
following requirements:
•Community Needs Assessment: Conduct a thorough assessment of the
community’s financial literacy needs by conducting comprehensive surveys, indepth interviews, and focused group discussions.
•Customized Instructional Design::Create a financial literacy program that has
been designed to meet the needs and constraints that have been identified in the
community.
•Diverse Learning Platforms: Present a wide range of learning opportunities,
including in-person workshops that conduct interactive sessions for hands-on
learning, seminars that provide informative sessions to address specific financial
topics, and online courses that offer digital learning resources for flexibility and
accessibility.
•Accessible Resources: Ensure the accessibility of educational materials by
providing them in various formats, languages, and mediums to accommodate
the diverse linguistic and learning preferences of community members.
•International/Local Business: To increase support, resources, and community
involvement, cultivate business with international association particularly the
Financial Management Association International (FMA) or local businesses,
academic institutions, non-profits, and government agencies.
•Qualified Instructors: Invite and recruit educators with the necessary
background in financial education and an ability for building strong
relationships with the community.
•Promotion and Outreach: Develop a comprehensive marketing and outreach
strategy to effectively disseminate information and raise awareness about the
financial literacy program within the community.
•Mechanism of Feedback: Establish a continuous feedback system aimed at
obtaining feedback from program participants about their financial budgeting
and saving experiences. This ensures the financial literacy program adapts in
real-time to participants’ specific needs and challenges in managing savings and
budgets.
SWOT ANALYSIS
STRENGTHS
•
•
•
•
•
Knowledge synergy
Attention to detail
Interdepartmental communication and support
Understanding of debt
Cash flow management
WEAKNESSES
•
•
•
•
•
Expenses process
Due diligence
Bill payments (no sign of process
Filing, audit trail and documentation is spotty
Consistency
OPPORTUNITIES
•
•
•
•
•
Grow sustainability
Maintain and improve cost savings
Create quarterly/ yearly plans
Gain experience, learn ways without poor habits
Utilize a project tool to visualize prioritization
THREATS
•
•
•
•
Unsteady economy
Natural severe weather events
Paying out expenses and bills which aren’t warranted
Without proper knowledge, something could be incorrect, leading to
backlash, e.glegal.
ASSUMPTIONS
•
The operation of the project will communicate through the local
Government and academic institutions in Municipality of Pantukan.
•
The project has full support of the sponsors, stakeholders, FMA, and
Government agencies.
•
This project focus by offering instructional workshops, materials, and
tools to community people, the initiative will emphasize financial
literacy and assist them in gaining the knowledge and abilities needed
to make wise financial decisions.
PRELIMINARY SCOPE STATEMENT
Financial Literacy A Community Extension: A Program Geared To Empower
The Youth Through Sustainable Planning will become a solid establishment of
money related proficiency, since it gives us the information we wish to oversee
our cash. The aim of this project is to engages community to create educated
choices with certainty. This project will boost the opportunity of the youths
more specifically in the Municipality of Pantukan to become more literate where
understanding the complex of money is vital. Hence, the resources of funding
and other form of expenses are supervised by the project team as well the
budgetary requirements must have the approval. Furthermore, with this
Financial literacy as a form of community extension it enables the ability to
comprehend and apply various financial disciplines, such as personal financial
management, budgeting and investing. Financial literacy provides the basis for a
financial relationship, and is a lifelong learning process. The effect of this project
will begin after the process of the requirements.
RISKS
Through planning out the project title Financial Literacy A Community
Extension: A Program Geared To Empower The Youth Through Sustainable
Planning , the following risks are identified:
•
Potential lacking of facilities for community extension
•
Potential lacking of appropriate extension materials
•
Potential lacking of funds to implement adaptation practices,
•
Potential barriers of unsustainable lifestyle of learners, Such as, poor
income, numerous siblings, and emergency needs.
•
Shortage of funds in case of emergency such as, Bad weather,
The project will offer the following;
•
Seminars
•
Trainings
•
Activities
•
Workshops
•
Souvenir
•
Certificate of Appreciation