English: My best - and safe!

In this web – quest we will examine some very important safety practices on managing money. More specifically, we will focus on the roles of different types of Insurances that can help you and your family with unexpected expenses. In addition, we will see how we can use safely digital technology towards different kind of transactions.

As we have already seen in previews web-quests financial planning and expenses recording are significant for every person that wants to put in order its financials and avoid costly situations. In regards to the expenses, many people will face unexpected expenses and situations. In such cases, a good approach is to have a backup in order to survive financially (and literally).

Most common reasons for unexpected expenditures are:

- Health issues
- Car accidents
- House accidents

Note: Regular expenses includes utilities (electricity, water, petrol) food and drinks , phone , internet, loan etc.,

Understand the significance of Insurance and make a research of Insurance companies in your area.
As soon as you learn more about the Insurance, then you will need to make a market research about the Insurance Companies and the packages that they offered in your area. Specifically, you will need to write one page with the local Insurances offered to your area. You can discuss it with other members of your family.
Understand the likelihood of unexpected expenses occurred
This task aims to make you aware of the possibilities of facing unexpected expenses during your lifetime. Are you aware of the probabilities of unexpected expenses coming in your country? You will need to a few statements about the likelihood of unexpected expenses happen in the average US citizen and then you should try to identify the data about your country-area.
Promote good practices regarding digital transactions: (How to Stay Safe Using Your Debit Card)
There are several good practices you should know when using digital financial services. Some of them are:

- Create strong password & PIN, change them frequently
- Enable two-factor authentication
Your task is to identify more good practices and safety tips through different reading.
Pros and cons of Credit and Debit Card
There are several pros and cons from using Credit and Debit Cards. You will need to write a 4 paragraphs essay presenting the above.

Understand the significance of Insurance and make a research of Insurance companies in your area.

At first, visit these websites to understand more in depth the role and significance of different types of Insurances:

https://www.investopedia.com/terms/i/insurance.asp
https://www.investopedia.com/financial-edge/0212/4-types-of-insurance-everyone- needs.aspx

As soon as you visit the above and learn more about the Insurance, then you will need to make a market research about the Insurance Companies and the packages they offered in your area.
Specifically, you will need to write one page with the local Insurances offered to your area. Discuss it with other members of your family.
Understand the probabilities of Unexpected Expenses

- In the USA, different studies estimated that 900 Americans who filed for personal bankruptcy between 2013 and 2016, more than two in three bankruptcies were caused by medical problems—from bills, income loss due to illness or both (American Journal of Public Health in 2019).

- In addition, 3 in 10 workers entering the workforce will become disabled and will be unable to work before they reach the age of retirement.

- An estimate of 90% of disability accidents and illnesses are not work-related.

Are you aware of the probabilities of unexpected expenses coming in your country? Can you find the stats about your country-area?

https://www.investopedia.com/terms/i/insurance.asp
https://www.investopedia.com/financial-edge/0212/4-types-of-insurance-everyone-needs.aspx
Promote good practices regarding digital transactions: (How to Stay Safe Using Your Debit Card)

There are several good practices you should know when using digital financial services. Some of them are: Please have a look on the links below and create a link of what you think are good practices in order to use safely the digital financial services. Discuss it with other members of your family.

https://www.thebalance.com/is-online-bill-pay-safe-1294251
https://www.rediff.com/business/report/perfin-8-golden-rules-for-safe-digital-transactions/20161213.htm .
https://www.thebalance.com/8-simple-rules-for-using-your-debit-card-in-europe-4167622
https://www.lawtechnologytoday.org/2019/06/five-safety-tips-for-digital-payments/
https://www.financialexpress.com/opinion/covid-19-lockdown-staying-safe-with-digital-payments/1935573/
Benefits of Credit and Debit Card

Have a look on the link below about the pros and cons of Credit and Debit cards.

After you read these, then you will need to write a 4 paragraphs essay presenting the above.

https://www.thebalance.com/can-i-use-a-debit-card-online-315325
https://www.rediff.com/business/report/perfin-8-golden-rules-for-safe-digital-transactions/20161213.htm .

After complete this WebQuest, I can:

List fixed monthly expenses	Yes	No
Reflect about the role of insurance products	Yes	No
Recognise different digital transactions	Yes	No
Outline the importance of liquidity	Yes	No
Compare regular with unforeseen expenses	Yes	No
Identify what kind of insurance products should your family have	Yes	No
Revise good practices towards cyber security	Yes	No
Compile good reasons to have a nest-egg	Yes	No
Create a monthly family budget	Yes	No
Evaluate your family needs in terms of insurance products	Yes	No
Promote good practices regarding digital transactions	Yes	No
Manage to have your own nest-egg	Yes	No

*If you answered NO to more than half of the statements, you should go through WebQuest again and acquire more knowledge and skills if you answered YES to almost all questions; congratulations on your great success!

Managing your personal finances are a very important topic. You can avoid big financial problems in your life by following small tips and practices.

This web-quest is focus on two issues related to personal financial management:

- The role of insurance in personal finance

- Best practices in digital financial services

As you have seen already, there are significant reasons why someone should have a particular Insurance in its life. In addition, there are a lot of benefits from using digital transactions, debit and credit cards. In a world that it becomes more and more digital (more and more digital good and services are created), is crucial for any person to know to use the digital financial services in a safe way.

In sum, by doing this web- quest you will increase your knowledge on 2 important topics which can help you to avoid financial problems and overcome stressful situations.

My best - and safe! - practices