Custom Writing Help For You!

Special Discounts Offers! 20-30% Off!

Posted: August 20th, 2023

Self-assessment of your financial literacy

To Prepare:
Begin by completing a free self-assessment of your financial literacy. You may choose your own or use the one provided in this week’s Learning Resources. (Note: If you use the one provided, please select Prefer not to say when asked for your zip code unless you live in Canada.) Then, watch the media in the Weekly Resources, Mrs. Mendes. Think about some financial issues older adults might face.

BY DAY 3
Post by Day 3 a summary of your assessment results. Then explain how you do or would assess older adults’ financial literacy when evaluating their needs or providing information about resources to assist in their planning.

RESOURCES
Required Readings
• Kunkel, S. R., & Settersten, Jr., R. A. (2022). Aging, society, and the life course (6th ed.). Springer.
o Chapter 7, Economics of Aging” (pp. 166–192)
• Financial Consumer Agency of Canada. (2016). Financial literacy self-assessment quiz.Links to an external site.Retrieved from https://itools-ioutils.fcac-acfc.gc.ca/FLSAT-OAELF/ques-ques-eng.aspx
• Lusardi, A. (2012). Financial literacy and financial decision-making in older adults.Links to an external site.Generations, 36(2), 25–32.
Required Media
• Walden University, LLC. (Producer). (2016). Caste Study: Mrs. Mendes [Video file]. Baltimore, MD: Author.

To Prepare:
Begin by completing a free self-assessment of your financial literacy. You may choose your own or use the one provided in this week’s Learning Resources. (Note: If you use the one provided, please select Prefer not to say when asked for your zip code unless you live in Canada.) Then, watch the media in the Weekly Resources, Mrs. Mendes. Think about some financial issues older adults might face.

BY DAY 3
Post by Day 3 a summary of your assessment results. Then explain how you do or would assess older adults’ financial literacy when evaluating their needs or providing information about resources to assist in their planning.

RESOURCES
Required Readings
• Kunkel, S. R., & Settersten, Jr., R. A. (2022). Aging, society, and the life course (6th ed.). Springer.
o Chapter 7, Economics of Aging” (pp. 166–192)
• Financial Consumer Agency of Canada. (2016). Financial literacy self-assessment quiz.Links to an external site.Retrieved from https://itools-ioutils.fcac-acfc.gc.ca/FLSAT-OAELF/ques-ques-eng.aspx
• Lusardi, A. (2012). Financial literacy and financial decision-making in older adults.Links to an external site.Generations, 36(2), 25–32.
Required Media
• Walden University, LLC. (Producer). (2016). Caste Study: Mrs. Mendes [Video file]. Baltimore, MD: Author.

Financial literacy self-assessment quiz ±Your results
Keeping track
You scored below most Canadians.
Looks like you need help with keeping track. Budgeting doesn¶t have to be hard, complicated or full of sacrifice. Keeping
track of your money is important, whether you use a budget or another method to do it. A budget is simply a comparison
of income and expenses. It’s an organized way to manage your money.
Want to improve your results?
Find resources and events about keeping track of your finances by clicking the ³Keeping Track´button.
Keeping track
Making ends meet
You scored below most Canadians.
Looks like you need help making ends meet. You may have a hard time making ends meet between your expenses and
the money you have. Living beyond your means can be a costly and sometimes lifelong mistake. Small changes will
result in big savings over time.
Want to improve your results?
Find resources and events about keeping track of your finances by clicking the ³Making ends meet´button.
Making ends meet
Planning ahead
You scored below most Canadians.
Looks like you need help planning ahead. It¶s important to plan for expected expenses but also unexpected events in life
that cost money. Here¶s an opportunity to improve your financial future. Start setting financial goals and work towards
them to achieve the future you want.
Want to improve your results?
Find resources and events about planning for your financial future by clicking the ³Planning ahead´button.
Planning ahead
Please find below your results after completing the financial literacy self-assessment quiz. We encourage you to search
the Financial literacy resource database to find resources and events to help you improve or maintain your results.
Staying Informed
You scored the same as most Canadians.
You did well but there is room for improvement. Staying informed means monitoring financial products and markets and
getting the financial information and advice you need when you need it. It¶s an important part in making good financial
decisions.
Want to improve your results?
Find resources and events about staying informed about financial products and services by clicking the ³Staying informed´
button.
Staying Informed
Choosing products
You scored the same as most Canadians.
You did well but there is room for improvement. It is very important to have the ability to choose products wisely and
make the right decision for you and your stage in life.
Want to improve your results?
Find resources and events about choosing financial products by clicking the ³Choosing products´button.
Choosing products

————————————
Based on the self-assessment quiz, my results indicate the following:

Keeping track: I scored below most Canadians in this area. It suggests that I may need help with budgeting and managing my money effectively. The assessment emphasizes the importance of organizing income and expenses through a budget or another method.

Making ends meet: I scored below most Canadians in this category as well. It implies that I may struggle with balancing my expenses and available funds. The assessment encourages making small changes to achieve significant savings over time.

Planning ahead: I scored below most Canadians in this area too. It indicates a need for improvement in planning for both expected and unexpected expenses. The assessment highlights the significance of setting financial goals and working towards them to secure a better financial future.

Staying informed: I scored the same as most Canadians in this aspect. While it suggests that I have done well, there is still room for improvement. Staying informed involves monitoring financial products and markets and seeking relevant information and advice when needed to make informed financial decisions.

Choosing products: I scored the same as most Canadians in this category as well. While it indicates satisfactory performance, there is still potential for improvement. The assessment emphasizes the importance of the ability to choose financial products wisely based on one’s life stage and needs.

To assess older adults’ financial literacy when evaluating their needs or providing information about resources, I would employ several strategies:

Conducting individual assessments: I would administer financial literacy assessments specifically designed for older adults to evaluate their knowledge, understanding, and skills in managing finances. These assessments could cover topics such as budgeting, retirement planning, investment knowledge, and protection against financial fraud.

Engaging in conversations: I would have open and non-judgmental conversations with older adults to understand their financial challenges, goals, and concerns. This would involve active listening, asking relevant questions, and creating a safe and supportive environment for them to share their experiences.

Observing financial behaviors: By observing older adults’ financial behaviors, such as their saving habits, spending patterns, and financial decision-making, I can gain insights into their level of financial literacy. This can help identify areas where they might need additional support or education.

Utilizing existing resources: I would provide older adults with information about available resources, workshops, seminars, and educational materials focused on enhancing financial literacy. This could include online resources, community programs, and financial literacy courses tailored for older adults.

Collaborating with professionals: In cases where specialized financial advice is necessary, I would collaborate with financial advisors, elder law attorneys, or other professionals who can provide expertise in specific areas of concern for older adults, such as estate planning or long-term care financial planning.

Tags: , , , , , ,

Order for this Paper or similar Answer/Assignment Writing Service

Place your order by filling a guided instructions form in 3 easy steps.

Why choose our Study Bay Services?

Like every student, Focusing on achieving the best grades is our main goal

Top Essay Writers

We have carefully cultivated a team of exceptional academic writers, each with specialized expertise in particular subject areas and a proven track record of research writing excellence. Our writers undergo rigorous screening and evaluation to ensure they hold relevant advanced degrees and demonstrate mastery of English grammar, citation style, and research methodology. Recent projects completed by our writers include research papers on topics such as sustainable energy policy, cognitive behavioral therapy, and molecular genetics.

Student-Based Prices

We prioritize attracting highly skilled writers through competitive pay and strive to offer the most cost-effective services for students. References from recent years include surveys of customer satisfaction with online writing services conducted by the American Customer Satisfaction Index between 2018 to 2022, demonstrating our commitment to balancing affordable costs with high standards of work through positive reviews and retention of expert writers.

100% Plagiarism-Free

We guarantee 100% original and plagiarism-free final work through a thorough scanning of every draft copy using advanced plagiarism detection software before release, ensuring authentic and high-quality content for our valued customers. To note, we also do not generate assignment content with AI tool, thus you a guaranteed 0% similarity index for your final research paper.

How it works

When you decide to place an order with Study Pro Essay, here is what happens:

Complete the Order Form

You will complete our order form, filling in all of the fields and giving us as much detail as possible.

Assignment of Writer

We analyze your order and match it with a writer who has the unique qualifications to complete it, and he begins from scratch.

Order in Production and Delivered

You and,the support and your writer communicate directly during the process, and, once you receive the final draft, you either approve it or ask for revisions.

Giving us Feedback (and other options)

We want to know how your experience went. You can read other clients’ testimonials too. And among many options, you can choose a favorite writer.